Sirwin
Sirwin

Indian Budget is making Indian Stock Market Volatile


I have been closely monitoring the Indian Stock market for the last 1 week and there are quite a few news or actions which is making the Indian Stock market volatile. Some of the notable ones are:

  1. Budget Session - Today is the start of the budget session for the fiscal year 2023-24 and thus the market is preparing for that. One thing to note here is that this is the last full-time budget before the general election of 2024, which means this government will try to lure more people by giving more options to the common man.
  2. The next is the Hinderburg and Adani Tussel - If you do not know about it, Hinderburg has accused Adani Enterprise of the largest con in corporate history and has created a big report. In response, Adani has also shared a 400+ page response to it. And thus the tussle continues.

These two mainly are the reason for the stock market volatility and mostly negatively affect the market. I have lost a considerable amount of money from my long-term portfolio and was not intended to book profit now and was waiting for more upper values. But along with that I have also removed some equity mutual funds and added to the debt which means I have done some rebalancing on my part before this negative effect.

image.png

 

So yeah we are still waiting for the positive or negative outcome of the Indian Budget on the market and if it overshadows the Adani-Hinderbur tussle or not, the time will tell. But one thing is clear the Indian economy is in good shape and is expected to grow by more than 6.5% which is quite good taking the world economy into consideration.

But one thing is clear even if you are a long-term investor it's better to take profit before this type of news so that you can redeploy your capital when everything settles down. I wanted to invest more, but I am waiting for the right opportunity might be after the budget session to see in which way the market is moving.

How do you rate this article?

5


codingdefined
codingdefined

I am a Proud Indian working as a developer in the tech hub of India (Bangalore). I am also a blogger who loves to write about technology, finance and programming.


CodingDefined's Blog
CodingDefined's Blog

I am a Proud Indian working as a developer in the tech hub of India (Bangalore). I am also a blogger who loves to write about technology and programming.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.