“It’s a Rural Budget. Finance Minister presents a Budget for New India which lays the foundation of an inclusive and progressive nation. In line with expectations, this budget is not positive for the stock market in the short term and medium term as the benchmark indices are already ruling at all-time high. The absence of considerable stimulus packages further worsens the scene. As mentioned in my pre-budget article, the corporate banks, housing sector, infra sector and strong NBFCs are good bets for the long-term. Looking ahead, the market’s focus will immediately shift to corporate earnings, monsoon behavior, other geo-political factors and central bank meetings and investors will forget the budget speech with immediate effect,” said Surendra Kumar Jain, Managing Director, Shree Bahubali Stock Broking Limited.
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