Stocks that were in focus included names like Bajaj Finance, which fell 5.10%, Tata Investment, which jumped 20%, and KFin Technologies, whose shares increased 7.64% on Tuesday.
Equity bulls on Dalal Street rejuvenated, with the BSE Sensex gaining 1300 points in a single session. The market is optimistic about government spending in infrastructure and energy sectors, attracting investor interest. The upcoming budget is expected to focus on fiscal consolidation, capital investment-led expansion, and rural growth.
Here s what Avdhut Bagkar, Derivatives & Technical Analyst at StoxBox, recommends investors should do with these stocks when the market resumes trading today.
Equity indices rebounded 1% on Wednesday, with the 30-share BSE Sensex surging 689 points to settle at 71,060 and the broader Nifty closing 215 points at 21,453. Stocks that were in focus included SBI Life, which rose 2.68%, Karnataka Bank, which fell 7.8%, and Tata Elxsi, whose shares declined 5.01%.
The Union Budget tends to cause volatility in equity markets. Over the past 5-6 years, caution and apprehension have prevailed among investors in the week leading up to the budget presentation. The Sensex has experienced negative and flat returns during this period. However, the performance post the budget announcement has generally been better. In election-bound years like 2024, the budget is likely to focus on fiscal roadmap, capital investment-led expansion, rural growth, and populist measures. Experts believe that this year s budget will be a non-event with no major policy changes expected.