The final countdown to the Budget begins and all eyes set on Finance Minister Arun Jaitley projects taxes and spending post demonetisation.The market expects govt to relax its FY18 fiscal deficit target of 3 percent. Commentary on strategic divestment to be closely eyed. The market will closely monitor any tinkering to capital gains tax or an incremental increase in securities transaction tax.
ITC will benefit if excise duty on cigarettes is hiked by 8-10 percent and halving of cess to 8-10 percent can increase ONGC’s EPS by 16-17 percent.
The S&P 500 fell on Tuesday for a fourth consecutive session, weighed by sectors sensitive to economic growth amid disappointing earnings and lingering concern over the priorities of the Trump administration.
Technology and financials were the sectors that weighed the most on the S&P 500, while healthcare helped cut losses and the index closed far from its session low. Advancing issues outnumbered decliners on both the Nasdaq and the New York Stock Exchange.
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