• Budget 2023: What stock markets want

  • Jan 31 2023
  • Length: 20 mins
  • Podcast

Budget 2023: What stock markets want

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  • Summary

  • At a critical juncture of steep valuations and high volatility in stock markets, comes the Union Budget 2023. However, an analysis of the past trends shows that the Union Budget's influence on short-term market performance is declining. Budget day volatility has risen since 2019 and hit an eleven-year high in 2022. Expectations, as measured by pre-budget equity markets performance, are important in determining what the markets do immediately after the budget.

    Only twice in 30 years have the Indian markets risen both pre- and post-budget. Factors that will likely have the maximum impact on markets, this year, include a credible fiscal deficit target, the government's spending plans vs. fiscal consolidation, and changes to long-term capital gains tax.

    So, what are the odds for markets this year? What are priced in and what are not? What do stock markets want from the Union Budget 2023? What are long-term bets in markets beyond the Budget?

    To discuss that and get to the pulse of Indian markets, Fores India's Nasrin Sultana in conversation with Abhiram Eleswarapu, Head of India Equity, BNP Paribas.


    You can listen to other podcasts in the series right here - https://open.spotify.com/show/06JalaGoQsfdLXHedmBlRH
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