Sanjay Sinha, Founder, Citrus Advisors has expressed his opinion on the effect of election results and union budget on share market and his views are as appended below:
I think there is fair amount of anticipation that the developments going forward will be positive, in the sense that the election results would improve the number of seats that Congress or its allies have in different states, more particularly in Uttar Pradesh (UP). Since the Union Budget is going to be presented about a week after the elections, I think the market is expecting that given the broader slowdown in the economy and the efforts being made to remove the bottlenecks in some of the key, sectors particularly power and other infrastructure, there is a sense of expectation that the Budget will be fairly good for the broader economy. Also the fact that it is now too late in case they want to deliver results as far as the current government's term is concerned, so there should be some strong footed reforms in the Budget. So overall feeling of anticipation of positive events is what is also at the back of the market right now.
Bookmark us for daily one sure tip of the day to make money like professionals.