Expecting a 2-3% rally on Monday: Saurabh Mukherjea
FM’s move on Friday will see the markets regain lost ground.
The finance minister made a big announcement on Friday and said she was going to follow it up with two more announcements next week. But from the equity markets perspective, the pre budget position has been restored for FPIs and domestic investors. Come Monday, do you expect fireworks?
Everybody and their father and mother in the stock market was apprehensive and the market was in a free fall. The way we were giving up almost 1% of the stock market value, on Monday we should see a good 2-3% rally which should make up a big part of the lost ground.
That being said, if you have to feel for the bond investor, there is a fiscal situation in our country and the announcements will cost the government.