Stocks like Grasim Industries rallied more than 6%, Century Plyboards rose more than 4%, and Bajaj Auto which hit a 52-week high closed with gains of about 2% were some of the stocks in focus on Monday.
Dip in market ahead of Budget 2021 might not be bad: What should be your investment strategy?
GDP numbers suggest that we are in a technical recession but things could reverse very quickly without giving much time or opportunity for investors to react.
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The S&P BSE Sensex has fallen more than 3 percent points in the run-up to Budget 2021. The Nifty50 is also trading near crucial support levels of 14,200 after hitting a high of 14,753 earlier in January.
The market was overheated and overbought, and some profit-taking ahead of the Budget 2021 was on the cards.
A dip in the market has now given retail investors who were waiting on the sidelines an opportunity to invest in the run-away rally seen in the last 12 months.
At this juncture the budget appears to be quite constructive; however, the fiscal room afforded even after considering the improving economy and better-than-expected tax collections is not very significant.
The banking system could extend lending to women at competitive rates to increase access to education. This could enhance women’s income-earning potential, and possibilities to save and invest more.