Friday, 3 February 2017

Sensex edges down; on track for second weekly gain

By Ripples Advisory Private Limited (www.ripplesadvisory.com)

Indian shares were trading marginally lower on Friday after two sessions of gains and were on track for a second winning week, with investors keeping to the sidelines ahead of the central bank's policy meeting next week. The Reserve Bank of India is expected to cut interest rates to help revive demand at its monetary policy review on Feb. 8, though this is not seen as a certainty. 

Sentiment has improved after the government on Wednesday unveiled a federal budget that was aimed at helping the poor with hikes in government spending and cuts in taxes, while raising the fiscal deficit target to only 3.2 percent from an earlier target of 3 percent.

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