Weekahead: Muted investor reaction expected for budget
REUTERS - ** Indian bonds and rupee seen range-bound after 2015/16 budget largely seen as delivering mixed bag.
** India's budget seeks an additional year to meet its medium fiscal deficit target in order to allow it to focus on economic growth by ramping up investments.
** Benchmark 10-year bond yield seen in a 7.65 to 7.80 pct range
** The partially convertible rupee seen moving in 61.50-62.20 range next week
** Indian shares rose in a special trading session on Saturday as the budget cut corporate taxes and unveiled incentives for foreign investors. [.BO]
** Near-term range for NSE index seen between 8,800 to 9,200
** Further progress on coal block and telecom spectrum auctions also on watch
EVENTS/FACTORS TO WATCH
Monday: HSBC Markit Manufacturing PMI
Wednesday: India's coal blocks and telecom spectrum auction;
HSBC Markit Services PMI
(Reporeting by Abhishek Vishnoi)
