Indian investors hopeful of Budget; US-China trade talks to affect markets

SENSEX-

Mumbai, June 23 As Indian investors are desperately awaiting a budget with plans to kick-start a slowing economy, markets is set to witness two major triggers- the US-China trade talks at the G-20 in Osaka, Japan, next week and the Union Budget to be tabled on July 5.

But factors like a sharp rise in oil prices, forecast of a weak monsoon and concern of slowdown have held back investors from participating.

Sensex and Nifty showed no decisive trend since the results of the general elections last month.

The outcome of US-China trade talks and Budget will decide the fate of the markets for the second half of the year.

During the week gone by, an escalation in trade tension sent the oil prices higher, which will continue to have a bearing on the market.

Brent crude, the global oil benchmark rose sharply on Thursday after war like situation developed between Iran and the US after Iran shot down a US drone.

Global financial markets fell over fear that a possible conflict between Iran and US would disrupt flows from the Middle East, which accounts for over 20 per cent of the world’s oil output.

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