Budget 2024 | Editor’s take on the market positioning
The market's response to the Budget has historically been marked by volatility, not only on Budget Day but also in the days leading up to and following it. This trend has persisted this time as well, evident in recent fluctuations in the Nifty index.
As the Finance Minister delivers the Interim Budget 2024 on February 1st, Anuj Singhal from CNBC-TV18 highlights key market positions to observe during the speech.
The market's response to the Budget has historically been marked by volatility, not only on Budget Day but also in the days leading up to and following it. This trend has persisted this time as well, evident in recent fluctuations in the Nifty index.
Over the past few days, the Nifty and the Bank Nifty have reached the midpoint of their recent range. Notably, the Bank Nifty has successfully defended the 200-day moving average despite facing challenges multiple times. The midcap index has shown resilience, even reaching an all-time closing high, attracting significant attention from domestic investors.
Traditionally, February is a month characterised by significant market swings, a trend seen in January as well. Singhal suggests that February is crucial as it often determines the market's direction, with the Budget playing a significant role in shaping this trajectory. However, it's essential to note that while the market will react to the Budget on the day of its announcement, it will also respond to the overnight Federal Reserve decision.
Watch the accompanying video for more
First Published: Feb 1, 2024 8:28 AM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Exclusive | Full text of the PM interview: Modi's agenda for the next 5 years
Apr 29, 2024 10:28 PM
PM Modi says he’s going forward with a positive attitude as a response to personal attacks
Apr 29, 2024 10:08 PM