Budget 2022: Nifty above 17,400, Sensex surges 1000 points; Anil Singhvi lists 3 factors to watch out for post budget

The Indian markets have been trading higher on Monday post strong closing by the US markets. Benchmarks Nifty50 and the S&P BSE Sensex surged nearly 2 per cent as the former touched 17,400, while the latter gained over 1,000 points.  

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Speaking of how the domestic equity markets would behave post Budget 2022-23, Zee Business Managing Editor Anil Singhvi said three factors will be crucial with the Wall Street indices closing on strong note on Friday. " In the US markets, Friday's session was make or break one after 4 days of extreme volatility. Friday's session was important for creating a base to launch a further upscale. It's clear-cut mandate that the US market is headed for an up move now as Nasdaq has already corrected 17 to 18 per cent from its all-time high," said the Market Guru.  

Singhvi further said FIIs, foreign markets and Budget announcements will be three factors to watch out for post Budget. "If the budget is neutral and foreign markets appreciate, it is almost certain that Indian markets will play along. If there is a neutral budget and global markets drastically fall, the India markets may face challenges. It is not important that FIIs will buy, but what needs to be seen is will they stop selling?," said Zee Business Managing Editor.  

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To summarise it all, if there is a good budget, there is nothing to worry. It there is a bad budget, of which chances are very unlikely, there will be some problem, said Singhvi.  

"Besides, if there is neutral budget, we can see global support in the making after the Friday's closing. Overall, current trends hint a rally in the market and I bullish going forward in the Budget as far as domestic stock markets are concerned, " added Anil Singhvi.