as the countdown to the budget has begun market participants will try to envisage the reforms and measures that could feature in this years budgetafter a quick climb to 18300 indian bourses appeared to be recouping their breath this week global peers have been facing corrections for quite some time now and spooked by rising bond yields and oil prices it seems that our markets are now echoing the global sentimentthe looming triggers can be largely attributed to the surge in the us 10year treasury yield and indias 10year government bond yield hitting their highest in two years at 190 and 668 respectively this hints at the market pricing in a rate hike by fed sooner than expected moreover the woes pertaining to inflation exacerbated as the benchmark oil prices shot up past 89 per barrel their highest level since 2014 advt as the budget approaches these tremors in the domestic markets are expected to continue in the coming week as well history suggests that in 7 out of the last 10 years indian indices have delivered negative returns or remained rangebound in the week preceding the budgetas the countdown to the budget has begun market participants will try to envisage the reforms and measures that could feature in this years budgetaccording to market expectations the government will likely maintain its thrust on capex spending with a significant focus on growthsupportive expenditure in public and private sectors looking at the current economic scenario the budget could initiate more beneficial programmes for rural segments sme and msme sectors such as trade hospitality travel auto logistics communication have all been severely impacted by the pandemic and are still struggling expectations are that these sectors may receive preferential considerationfurthermore if the government reveals a structured approach for expediting asset disinvestment and monetization the stock market may become enthusiastic about itevent of the weekindias telecom subscriber base enriched marginally to 119705 million according to telecom regulatory authority of india trai data released for november 2021 the industry witnessed a growth in the countrys overall wireless subscriber pack at 116750 million a net customer gain of 12 million with a monthly growth rate of 010 to support the ailing telecom sector the government had in september already announced measures that can ensure the industrys healthy growth and drive the proliferation of broadband and telecom connectivity advt additionally its recent actions cement the governments stance of not letting the industry become a duopoly going forward the industry eyes better days on the back of the recent prepaid tariff hikes of approximately 2025 these hikes aim to uplift the average revenue per user for companiestechnical outlooknifty50 index closed sharply negative for the week however the benchmark index seems to be finding a cushion around the 17500 zone on the daily time frame it has formed a hammer kind of candlestick pattern around the previous resistance zonethe banknifty index as well has formed a similar pattern around the 20day moving average this pattern indicates a continuation