The benchmark equity indices of the BSE and NSE ended nearly 1.5 per cent higher on Budget day. The big infrastructure push in Budget 2022 has encouraged market participants. Finance Minister Nirmala Sitharaman delivered the budget. The market responded positively to her message. But if the government does not follow through on its promises, it is going to take a long time before it can bring the economy back to life. Read on to find out why.
Indian equity markets ended in green on Wednesday, with some gains being given back. The focus on the Street today will be on the press conference by Finance Minister Nirmala Sitharaman at 4 PM, where she is expected to disclose details about the government’s Rs 20 lakh crore relief package. The Sensex ended higher at 32,014, while the Nifty50 index closed at 9,385. Today’s top gainers included Nestle India and Sun Pharma. Losers included Bharti Airtel, Tata Steel, and NTPC.
While most investors are concerned with inflation, investors should take a look at market breadth. Positive market breadth indicates a healthy market, as it is a signal that support based buying will take place at lower levels. According to Chandan Taparia, Vice President, Technical, and Broking & Distribution, Motilal Oswal Financial Services, positive market breadth signals a solid buying opportunity for stocks. The stock market will likely move higher in the coming months if the inflation problem continues.