Brokerage houses are considering the budget as positive for the market. He believes that the government’s focus is on long-term economic growth. The government has increased the fiscal expenditure. The government is in the mood to boost the economy through investment.
Best Stocks to Invest After Budget 2022: While there was a strong rally in the stock market on Budget Day, even today after the budget, investors are in a buying mood. There is a good rally in the stock market in the early trade of February 2 and Nifty has crossed the level of 14700. Sensex is also showing strength of 400 points. Market experts and brokerage houses are considering the budget as positive for the market. He believes that the government’s focus is on long-term economic growth. The government has increased the fiscal expenditure. The government is in the mood to boost the economy through investment. All this is in favor of the market over the long term. After the budget, Sensex and Nifty can make their new high in the next few months. At present, the budget will create better opportunities for investors to earn. There is an upward trend in many sectors and their related stocks.
The market will get a new direction
Siddharth Khemka, Head of Retail Research, Motilal Oswal Financial Services, says that this budget is a progressive budget. In this, measures have been taken to strengthen the economy in the long term. The government has increased the fiscal spending, it is clear that the trend is growth oriented. While the fiscal deficit is estimated at 6.9 per cent for FY22, the government has set a fiscal deficit target of 6.4 per cent for FY23, which is positive for the market. Capital spending for FY23 has been increased by 35.4 per cent to Rs 7.5 lakh crore. The focus is on infra development, strengthening supply chain and increasing rural demand through capex and spending. He says that sectors like infra, construction, cement, capital goods, affordable housing, logistics and defense will benefit the most.
Top Stock: LT, Ultratech Cement, DLF, Bharti Airtel, IRCTC, Can Fin Home, BEL
Nifty may move towards all-time high
Research head Santosh Meena says that the overall budget is better for the market than Haj. The focus of the government is on growth. They say that there is a supply area for Nifty at the level of 17600-17800 and if Nifty breaks it then it can move towards fresh all-time high. If this does not happen then the index can come back down to the level of 17000. He says that there is no tax on tobacco or cigarettes in the budget, which is beneficial for a company like ITC. He says that this stock can show a price of Rs 240 in the coming days.
Focus on infrastructure and manufacturing
Tradingo’s founder Parth Nyati says that the big trigger for the market in the budget is that the capex has been increased by 35 percent. This means that the government’s focus is on infrastructure and manufacturing. More and more jobs can be created with the growth in both these sectors. He says that after the budget, sectors like capital goods, infrastructure will accelerate.
Top Stock: One can focus on stocks like Thermax, LT, Siemens, Grindwell Norton, KNR Construction, PNC infra and ACC.
Shashank Kanodia, analyst at ICICI Direct, says that the budget is very good in terms of the auto sector. The government has focused on capital expenditure which is positive for the auto sector.
(Disclaimer: Stock investment advice is given by the brokerage house. These are not the personal views of The Financial Express. Markets are risky, so take expert opinion before investing.)
Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.
,