The Nifty and the Sensex were hovering in negative territory in mid-morning trade. Investors are cautious ahead of the Union Budget 2017-18 which is scheduled to be introduced in the parliament by the Finance Minister on Wednesday, 1 Feb 2017. The Economic Survey will be revealed prior to the budget on tomorrow, 31 January.
The Government is due to present its Budget with shares last week posting their biggest weekly upticks in 8 months on expectations that it will announce incentives to ease the impact from the demonetization.
Asian markets and US stock futures retreated today after President Donald Trump introduced immigration curbs that sparked criticism and added to global worries of increasingly unpredictable US policies.
Meantime, at 12.15 pm, the BSE index Sensex was down 6.92 points or 0.02% at 27,875.54 and the 50-share NSE index Nifty was down 8.15 points or 0.09% at 8,633.