Ahead of Budget 2019 announcement this week, the markets have kicked off the trading session on a positive note. The Nifty  50 on Monday, finished at 11,865.60 up by 76.75 points or 0.65%. Gainers on the list were stocks like Dr. Reddy, Bajaj Auto, Tata Motors and HDFC. Interestingly, with focus shifting towards Union Budget FY20 which is set to be announced on July 5, by Finance Minister Nirmala Sitharman, Yes Securities President, Amar Ambani sees the index inching up to 13,000-mark. This would be a new all-time high for Nifty. One can expect this too turn into a reality, especially after the stellar performance witnessed in Lok Sabha elections. 

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Talking about Nifty, Ambani said, "We expect the Nifty to inch upwards to 13000 mark, but at the same time believe that 2019 will be a year of consolidation for the broader market."

On overall Budget, Ambani said, "We expect the government to persist with reasonable levels of deficit on the fiscal front, as indicated in their earlier budget. The FM’s reassurance on sticking with the path of fiscal prudence in the years ahead will be equally important. The next on the agenda would be the much-needed boost to economic growth. Towards this front, the most pertinent measure would be providing capital buffers like a MSMSE fund, to make liquidity widely available."

Further, Ambani believes big investment stimulus through the budget though, can come only after tax collection rises materially. However, he said, "we do expect the usual 14-18% growth in budgetary allocation to infrastructure spending. The rest of the commitments for infrastructure will come from Internal and Extra Budgetary Resources (IEBR)."

Ambani guided investors by saying that the smart thing to do this year is not be in a hurry to deploy funds. he added that they should be extremely selective, especially with midcaps and invest in a staggered manner.