Budget 2024 in five key charts: More spending, debt control
Nirmala Sitharaman’s budget focuses on job creation, infrastructure, reducing deficit (4.9% GDP), defense (6.2 trillion rupees), youth reskilling, borrowings, pensions, capital budget, subsidies cuts, education, health, and food pledge. Central bank windfall supports funding. Goal: government debt decline by 2026-27 and making India a developed nation by 2047, under Modi’s coalition.
Stay invested! India growth story intact, but rational yet conservative approach must
The budget focuses on key areas like agriculture, employment, and infrastructure, with efforts to simplify taxation. Market valuations are high, calling for a cautious investment approach. Diversified asset allocation is recommended for balanced risk and return.
Capital gains intact, so what if they’re taxed a bit higher?
The stock market initially dropped due to higher capital gains taxes but rebounded. Key corporate earnings rely on capex and consumption, bolstered by budget allowances and deductions. Retail participation and DII buying sustain high valuations.
Oil prices rise as US crude and fuel inventories seen shrinking
U.S. crude inventories fell for four weeks ending July 19, pushing Brent to $81.47 and WTI to $77.38. API confirmed declines; official data pending. Prices previously hit a six-week low due to Israel-Hamas ceasefire talks. Economic concerns in China also persist, marking the first four-week crude decrease since September 2023.
Stocks in news: L&T, Axis Bank, HUL, Bajaj Finance, Tata Consumer
Equity markets react to capital gains tax hike but recover losses. Focus on L&T, Axis Bank, HUL, Bajaj Finance, Tata Consumer for news developments and earnings. Companies like Bajaj Finance and ICICI Pru Life report positive profit growth. South Indian Bank plans fund raising, while Torrent Pharma and Tata Consumer announce financial results.
Asian stocks pressured after big tech disappoints: Markets wrap
Asian equities fall as tech giants post underwhelming earnings. Taipei stock market closes due to typhoon. Concerns over US election impact on market. Investors cautious amid economic troubles and geopolitical risks in China and Japan. Big Tech faces tough comparisons with previous stellar earnings cycles.