MUMBAI: The Indian equity market rode high on strong global cues to rally nearly 1% on Monday, as domestic investors expected the government to announce a fiscal stimulus package in the 5 July Union budget. Easing trade tension between the US and China, too, boosted the risk appetite of investors, which led to a global rally in equities. Markets in China and Japan were up more than 2% on hopes that the US-China truce may spur business decisions. Analysts, however, feel that government may not be in a position to provide meaningful fiscal stimulus to the economy through the budget, considering India’s weak fiscal position. “We expect the FY20 Union budget to provide more colour on the government’s economic agenda.

Source: Mint July 01, 2019 11:03 UTC