Budget 2017: Economic Survey To Set Tone For Markets, Sensex Seen Opening Lower

Sensex and Nifty are set for a weak start tracking subdued global cues and weakness in the Nifty futures traded on Singapore Exchange. Meanwhile, the Budget session of parliament will begin today wherein the Finance Minister Arun Jaitley will present Economic Survey of India. Analysts say that the Street would closely watch out on how the government plans its expenditure in the next financial year after government's shock move to ban high value currency notes in November which as per economists slowed down the pace of the fastest growing major economies of the world.

Meanwhile, other Asian shares markets were on the defensive on Tuesday as stringent curbs on travel to the US ordered by President Donald Trump brought home to investors that he is serious about putting his radical campaign pledges into action.

Global stocks posted their biggest loss in six weeks after Trump signed an executive order on Friday to bar Syrian refugees indefinitely and suspend travel to the United States from seven Muslim-majority countries, sparking widespread protests.

The move drew criticism from some U.S. policymakers and business leaders, including the chief executives of Goldman Sachs Group and Ford Motor Co, and irked many foreign leaders.

Overnight, Major U.S. stock indexes posted their largest drop so far in 2017 on Monday as investors worried that a curb on immigration ordered by Donald Trump was a reminder that some of the U.S. president's policies are not market-friendly.

Back home, all eyes will be on the Economic Survey of India which will be presented by the Finance Minister later in the day, say analysts.

Among the individual shares, Bajaj Auto will be in focus today as it will report its third quarter earnings. Analysts expect the two wheeler maker to report net profit of Rs 845 crore on sales of Rs 5,045 crore. (With inputs from Reuters)