Markets up sharply since last Budget

Commodity-related sectors have seen huge gains since last Budget

Domestic equity markets have seen a good run since the previous Union Budget, with benchmark indices rally more than 20 per cent. At the time of the last Budget, the Sensex and the Nifty were at 21-month low. Markets saw a sharp rebound from those levels along with other global markets amid low bond yields in the developed market.  Since November, the markets went to a retreat due to demonetisation and increase in US bond yields after Donald Trump’s victory in the US presidential elections. In the run-up to the Budget, stocks once again rebounded.