Banking On Budget

Budget 2023: P-notes, SGX Nifty trading at GIFT City likely to get a boost Budget 2023: P-notes, SGX Nifty trading at GIFT City likely to get a boost Budget 2023: P-notes, SGX Nifty trading at GIFT Ci

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IndusInd Bank is likely to get added to the MSCI India Index during the rebalancing exercise in August following a sharp increase in the investment legroom for foreign portfolio investors (FPIs)

Among individual stocks, Axis Bank, ICICI Bank, SBI may climb higher levels in coming sessions

A liberal budget that cuts taxes and tries to improve ease of doing business will receive a good market response. A harsh Budget with higher taxes, new cesses, etc, will lead to a sell-off

Given the series of policy announcements made by Finance Minister Nirmala Sitharaman in the last 9 months it is reasonable not to expect more this time

While the govt should try to push divestments, it should understand that reforms in the PSU space are very important if it wants to offload some its stake in the market