The BSE Sensex jumped almost 600 points to trade above 36,150 on Thursday afternoon led by strong buying in bluechips. The NSE Nifty50 also reclaimed 10,800.
Find out what trading is looking like ahead of Budget 2019:
- The market is going into the budget with the lowest expectations and for obvious reasons — it is going to be election. Hence, the room for negative surprise is quite low. The market’s positioning is light on Friday despite Thursday's rally.
- The market will closely watch any announcement related to the farm loan waiver and will adjust itself based on what is announced.
- LTCG was introduced last year, hence it would be outlandish to assume that in just one year, it will be withdrawn. But if there is some tinkering on that, that will do a lot to lift the market sentiment and that is all it needs right now.