Most brokerages have given a thumbs up to the Budget proposals, except for the sweeping changes in the capital gains tax regime, which they feel can set the cat among the pigeons in the equity and real estate asset classes.
Over the next few days, as the markets read and take in the Budget fine print, they will also keep an eye on the ongoing April-June quarter earnings season (2024-25), the progress of the monsoon back home, and the policy actions of the Reserve Bank of India.
Globally, developments related to the US presidential elections, the geopolitical situation, and crude oil prices are some of the factors that can sway market sentiment.
Meanwhile, here is how leading brokerages have interpreted the Budget proposals:
Goldman Sachs
The government ticked all crucial macro-prudential boxes. Revenue targets look broadly achievable and tax assumptions realistic. The Budget promised a policy framework for long-term economic development to set the scope for the next generation of factor market (land, labour, capital, and technology) reforms in conjunction with state governments.
We remain positive on Indian equities given macro resilience and strong earnings delivery, which should keep their relative appeal intact despite elevated valuations.
Continue to favour domestic sectors, including rural infrastructure, energy security, tourism, and housing, which align well with the measures announced in the Budget.
Morgan Stanley
هذه القصة مأخوذة من طبعة July 25, 2024 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة July 25, 2024 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
![IT JUST AIN'T CRICKET](https://reseuro.magzter.com/100x125/articles/18959/1823758/4cLzPwMbz1725658668794/IT-JUST-AINT-CRICKET.jpg)
IT JUST AIN'T CRICKET
Why cricketers and other sportspersons, unlike film stars, do not win much in the political arena
![Bring transparency in student visa processing: India to Canada](https://reseuro.magzter.com/100x125/articles/18959/1823758/uvYjPOq24QwXE7MSkuqsys/BRING-TRANSPARENCY-IN-STUDENT-VISA-PROCESSING-INDIA-TO-CANADA.jpg)
Bring transparency in student visa processing: India to Canada
New Delhi expresses concern on high tariffs imposed by Canada in sectors like textile, apparel,etc.
![Festival season may not add zing to portfolios](https://reseuro.magzter.com/100x125/articles/18959/1823758/gi8cdZ6NU6GtuAVaVFBsys/FESTIVAL-SEASON-MAY-NOT-ADD-ZING-TO-PORTFOLIOS.jpg)
Festival season may not add zing to portfolios
Expect little action in auto stocks in months ahead: Analysts
Havells'valuation factors in gains from demand, expansion
The consumer durables sector has seen buoyant demand in August after a slowdown in July.
![As Sebi deadline looms, FPIs seek extension to liquidate assets](https://reseuro.magzter.com/100x125/articles/18959/1823758/UTFzsF91ixsNeiOTey3sys/AS-SEBI-DEADLINE-LOOMS-FPIS-SEEK-EXTENSION-TO-LIQUIDATE-ASSETS.jpg)
As Sebi deadline looms, FPIs seek extension to liquidate assets
Deadline to not have holdings beyond specified thresholds ends on Monday
Congress fires fresh salvo at Sebi chief over rental income
The Congress on Friday levelled fresh allegations against chairperson of the Securities and Exchange Board of India (Sebi) Madhabi Puri Buch, claiming that she received rental income from an entity affiliated with a company the market regulator was probing for various violations, including insider trading.
![SBI, Vi and Indus stocks tank after Goldman Sachs 'sell' call](https://reseuro.magzter.com/100x125/articles/18959/1823758/fkYZeEBrtk40Uvyf2TYsys/SBI-VI-AND-INDUS-STOCKS-TANK-AFTER-GOLDMAN-SACHS-SELL-CALL.jpg)
SBI, Vi and Indus stocks tank after Goldman Sachs 'sell' call
Airtel outperforms as the US-based brokerage reiterates 'buy', increases target price
![What a Trump victory would mean for the US economy](https://reseuro.magzter.com/100x125/articles/18959/1823758/O9ehJAqZSdo7TDJmTmrsys/WHAT-A-TRUMP-VICTORY-WOULD-MEAN-FOR-THE-US-ECONOMY.jpg)
What a Trump victory would mean for the US economy
The US presidential election in November is critical for many reasons.
We, the prickly people
You can still put words in Indira Gandhi's mouth and get away with it. But if you garnish your pretence of fact with so much fiction, you might end up messing with Bhindranwale
Friendless in the neighbourhood
The ignominious end to Sheikh Hasina's long tenure as Bangladesh's Prime Minister has left the country's future uncertain.