Indian Stock Market Outlook for 2024: Key Points
1. Budget Impact: India’s 2024-25 Interim Budget has set the stage for targeted growth initiatives. Key highlights include: · - Capital Expenditure Boost: The budget allocated INR 11,11,111 crore for capital expenditure, signalling a focus on infrastructure development. · - Fiscal Deficit: Projected at 5.1% of GDP, indicating a balance between expenditure and revenue. · - Sectoral Initiatives: Emphasis on uplifting marginalized sections like farmers, women, and youth through targeted schemes. · - Taxation: No changes proposed in tax rates, ensuring continuity in fiscal policy. 2. Market Reaction: Following the budget announcement, the stock market experienced initial volatility. The BSE Sensex dropped 106.81 points, while the NSE Nifty fell 28.25 points, reflecting mixed sentiments post-budget. 3. Sectoral Analysis: · - Certain sectors, such as infrastructure and agriculture, responded positively to budgetary allocation