ETMarkets Smart Talk | STT hike weighs on sentiment, but growth-focused Budget supports markets: Naveen Kulkarni

Markets experienced a sharp reaction following the Budget announcement. This was primarily due to a hike in the securities transaction tax. Experts believe this sell-off is sentiment-driven and temporary. The Budget’s focus on growth, increased capital expenditure, and manageable fiscal numbers are expected to support markets in the medium to long term. The intrinsic value of equities remains unchanged.

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