Budget 2024 & Market: 10 sectors & top stocks to track as Nirmala Sitharaman makes history; LIC, ICICI Pru, Tata Power, L&T on the list
Key Stocks to Track to Play Budget Theme in Stock Market: As Dalal Street makes a positive start to the trading session on July 23, the day Finance Minister Nirmala Sitharaman is scheduled to make history by unveiling her seventh Union Budget, market wizard Anil Singhvi has handpicked 10 sectors and several stocks likely to be impacted by Budget announcements. Note down his top picks to play the Budget theme on Dalal Street.
Key Stocks to Track to Play Budget Theme in Stock Market: Domestic equity benchmarks made a positive start to the day on July 23, with Finance Minister Nirmala Sitharaman all set to make history by unveiling her seventh Union Budget later in the day. From investors to businesses to the common man, all eyes will be on the finance minister's Budget speech slated to begin at 11 am in Parliament. Zee Business Managing Editor Anil Singhvi handpicked 10 sectors and several stocks that he believes are likely to be impacted by the upcoming Budget announcements. Here's the market wizard's list of top sectors and stocks you can track on Dalal Street to make the most of the Narendra Modi 3.0 government's first Union Budget.
Budget likely to bring positive triggers for life insurers: Market wizard Anil Singhvi
The market guru believes the Budget is likely to contain positive triggers for life insurance businesses.
His top picks in this space - to play the Budget theme on Dalal Street - are: LIC, HDFC Life, ICICI Pru and SBI Life.
A big boost coming up for solar energy-related businesses?
The market wizard points out that solar power-related companies may get a boost from the upcoming Budget.
In that case, companies such as Borosil Renewable and Tata Power are set to benefit, according to him.
Profit-taking likely in fertiliser stocks?
The market guru does not expect any major announcement for the fertiliser space in the July 23 Budget.
No major announcement for the fertiliser space: Anil Singhvi
In that case, one can expect some profit-taking in stocks like Chambal Fertilisers, Coromandel, RCF and NFL, he adds.
Focus on railway connectivity & logistics likely in Budget: Anil Singhvi
The market wizard believes that the Budget 2024 will emphasise the areas of railway connectivity and logistics.
In that case, three stocks are set to benefit, according to him: Concor, Aegis Logistics and TVS Supply Chain.
No big announcement likely for metal space: Anil Singhvi
The market guru is of the view that no big announcement is likely for the metal space.
Can you expect higher allocation for defence sector?
The market guru believes there will be an increase, in line with expectations, in the capital expenditure earmarked for the defence space.
2 stocks to get a Production-Linked Incentive boost?
The market guru highlights that Dixon and Amber are likely to benefit from PLI schemes in the Budget.
3 kind of manufacturers may benefit from Housing for All drive
The market wizard expects manufacturers of paints, electrical wires and cables to get a positive signal from the Budget 2024.
A Housing for boost Asian Paints & Berger Paints?
The market guru believes that paintmakers such as Asian Paints and Berger Paints are likely to benefit from the Centre's Housing for All push in the upcoming Budget.
Good news coming for Havells India & Polycab?
The market wizard also expects Havells India and Polycab to get a boost from the government's Housing for All drive.
Infrastructure push to benefit cement & capital goods businesses?
The market guru believes that cement and capital goods businesses may take a positive cue from the infrastructure push in the upcoming Budget.
He expects stocks like L&T, IRB Infra, NCC and UltraTech to benefit if that happens.
Special Economic Zone norms may be relaxed: Anil Singhvi
The market wizard believes that SEZ rules may be eased in the upcoming Budget, in a positive trigger for stocks like Jai Corp, RIIL and Adani Ports.