Investors budget for growth as markets feed on February 1 hopes

Fillip to infrastructure, tax sops for salaried among expectations

Reminiscent of the past two years, the market has made positive strides ahead of the Union Budget 2023-24 (FY24). The benchmark National Stock Exchange Nifty has gained 1.8 per cent in the last month. Typically, markets tend to gain ahead of the Budget as investors build in optimism. The one-month returns of the Nifty in seven of the past 10 years have been positive.

“Before every Budget, expectations build up. Market rallies are based on expectations. In January, institutional investors come back after their annual holidays. Most Budgets in recent times have disappointed some sections of the market. Moreover, the