From the low of July 23 when the Budget was presented, mid and smallcap indices on the BSE have surged more than 6 per cent and 7 per cent respectively, according to data from ACE Equit. The S&P BSE Sensex rose 2.5 per cent in this period.
The Budget hiked LTCG and STCG taxes on the sale of shares from 10 per cent to 12.5 per cent and from 15 per cent to 20 per cent, respectively.
Analysts are cautious about — these two segments a favourite of retail investors due to valuation concerns. Investors, it seems, have not heeded their word of caution yet.
Mid, smallcap rally
The disconnect between earnings and market prices in the broader market is driven by the sustained fund flows into these segments and buying, according to V K Vijayakumar, chief investment enthusiastic retail strategist at Geojit Financial Services.
この記事は Business Standard の July 31, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Business Standard の July 31, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
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A fine balance
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