ETMarkets Smart Talk: Progressive Budget, normal monsoons & strong inflows will further re-rate markets: Amnish Aggarwal
“We expect the NDA government to sustain focus on capex-led growth around PLI, Roads, Ports, Aviation, Defence, Railways, and Green energy, given a 20 bps lower fiscal deficit in FY24 (Than RE), normal monsoons, and Rs 2.1 lakh crore dividend from RBI,” says Amnish Aggarwal, Director — Institutional Research, Prabhudas Lilladher.
In an interview with ETMarkets, Aggarwal said: “We believe a progressive budget, normal monsoons, and strong inflows will further re-rate markets,” Edited excerpts:
After a sharp selloff seen post election results Indian equity markets quickly recouped losses and hit a fresh record high. What is fuelling the optimism?
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Offering CollegeCourseWebsiteIndian School of BusinessISB Chief Technology OfficerVisitIIM LucknowChief Executive Officer ProgrammeVisitIIM LucknowChief Operations Officer ProgrammeVisitThe Nifty saw a 6% cut on results day with BJP failing to secure a full majority, as was priced in by most investors.
However, the following day, with TDP and JDU pledging their full support to the BJP-led NDA, markets managed to recoup half of the losses of the previous session.
Over the next few sessions, as the Modi 3.0 cabinet was announced, the Nifty hit a fresh all-time high and has been continuing its upward journey.
Although BJP does not have majority on its own, the NDA Govt has retained the key ministers with their portfolios – Home, Finance, Commerce, Defence, External Affairs, Roads, and Railways. This is adding to
