Indian stock market benchmark indices, Sensex and Nifty 50, are experiencing heightened volatility ahead of the Union Budget 2024 presentation by Finance Minister Nirmala Sitharaman on Tuesday, July 23.
As the first full budget of the Modi 3.0 government, Budget 2024 is widely anticipated to be growth-oriented, with a key focus on capital expenditure (capex) and fiscal prudence. Market volatility is expected to remain high during the budget presentation due to sector-specific announcements impacting stock prices.
“Budget days are usually very volatile, with indices often moving in both directions throughout the day. Market participants expect the Union Budget 2024 to balance growth-driven initiatives with populist measures, focusing on digital infrastructure, fiscal discipline, and support for key sectors like manufacturing and agriculture to stimulate economic development,” said Rahul Ghose, CEO of Hedged.in.