Budget 2024: Trading Strategies by Geojit Financial Services
Also read- Interim Budget 2024: 5 key things to watch out for Major public capex is unlikely as per Vijayakumar since the FM has to achieve the fiscal deficit target of 5.9 percent for FY24 targeted in the 2023 budget, . Also the massive public expenditure done through the budget provision last year has helped in triggering growth in the Indian economy. Therefore, the government’s priority would be to achieve fiscal discipline, added Vijayakumar.
"In the short-term, sentiments influence the market more than other factors, said Vijayakumar. Now, sentiments are positive globally as well as in India. The sentimental support from the mother market is strong since S&P 500 is at record high at 4850.
Domestically the Pran Prathishta at Ayodhya has turned out to be a historic mega event boosting national sentiments substantially. These positives augur well for the market in the short run. Q3 results will impact specific stocks both positively and negatively.
ICICI Bank’s numbers are excellent, beating the street. With ICICI Bank ticking all the right boxes in credit growth, net profit growth and asset quality, the stock is set to lead the rally in large caps. Also read- Zee Entertainment share price tanks more than 25%: Mutual funds loose more than ₹1900 crore in a day However Vijayakumar said that the Investors should also remember that sentimental impact cannot last long.
Tensions in West Asia and the Red Sea are areas of serious concern. If something goes wrong, the market will be impacted since valuations are high. Therefore, even when optimistic, investors should be cautious." Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to
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