Will Nifty continue to scale new highs ahead of Budget? Mahantesh Sabarad answers

economictimes.indiatimes.com:

«We will have a large surge in money coming into India, foreign money coming into India, primarily through the equity route and now increasingly through the bond route as well. And we have now an interim budget upcoming which could lay the foundation for further growth momentum to pick up,» says Mahantesh Sabarad, Independent Market Expert.

Let us talk about the market move we have seen today. Slight bit of a subduedness in the middle part of the session, but we are back to almost the day's highest trading point for Nifty. Yet another record high also coming in for Nifty. Do you think this exuberance we are seeing in Nifty is sustainable going ahead given that the budget is just around the corner?
Mahantesh Sabarad: There are multiple reasons why the markets are actually upbeat. It is not just today's session. If you look at the past several months, the upbeat market is trying to gauge into the future wherein we have the likely monsoon outcome going to be positive, we are going to have inflation coming down and therefore RBI looking for rate cuts later down in the year, probably post October.

We will have a large surge in money coming into India, foreign money coming into India, primarily through the equity route and now increasingly through the bond route as well. And we have now an interim budget upcoming which could lay the foundation for further growth momentum to pick up.

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