Equity markets trade flat ahead of Union Budget 2020

As the markets opened on Saturday on the day of the Union Budget the key equity indices traded on a flat-to-positive note. The tepid trade in the domestic indices can also be attributed to the decline in the US and Asian markets after US President Donald Trump declared a public health emergency in response to the coronavirus outbreak in China. (#BudgetOnZee)

At 10.04 a.m., the Nifty50 on the National Stock Exchange (NSE) was trading at 11,967.40 points, higher by 0.04 per cent from the previous close of 11,962.10 points.

The BSE Sensex was trading at 40,761.49, higher by 38 points or 0.09 per cent from the previous close of 40,723.49 points.

It had opened at 40,753.18 and has so far touched intra-day high of 40,764.02 points and a low 40,444.48 points.

The markets during the day will take cues from the Union Budget for FY20-21 to be presented by Finance Minister Nirmala Sitharaman. Investors expect several steps to revive the economy and the sentiments in the market.

The budget this year comes at a crucial time as the economy is going through a severe slowdown and consumer sentiments are also significantly subdued.

According to analysts, investors are cautious ahead of the Union Budget as all eyes will be on how centre is going to bring growth as any increase in spending would result in widening of fiscal deficit.

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Negative cues from global markets amid concerns over China's coronavirus outbreak continued to weigh on investor sentiment here, traders said.

Benchmarks on Wall Street ended with sharp losses on Friday.