Smart Talk: Stock market is hoping for a progressive, non-populist & capex focused Budget from Modi 3.0: Sameer Kaul
In an interview with ETMarkets, Kaul said: “Market investors would hope for a progressive, non-populist, capex-focused, inclusive and fiscally prudent budget,” Edited excerpts:
Market took a U-turn after falling by about 6% post the election results. Will the market sustain this outperformance?
Since time immemorial equity markets have always reacted sharply to outcomes which have gone against popular opinion. It is no surprise that the market cracked by a huge 6% in a single day given that “markets take the stairs up and the elevator down”.
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Offering CollegeCourseWebsiteIIM LucknowChief Operations Officer ProgrammeVisitIndian School of BusinessISB Chief Digital OfficerVisitIIM LucknowChief Executive Officer ProgrammeVisitAhead of major defining events, market participants steadily build positions. Now once the event crystalizes all participants move in a herd for the exit all at once which causes these gyrations and spikes in the volatility index (up 24% on the election outcome day).
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