Budget exceeds D-Street expectations: Experts

Terming the Budget 2011-2012 as "progressive" and "balanced", stock market experts said it had positive surprises like encouraging FII inflow, a roadmap for reforms and checking fiscal deficit, all of which have perked up investor mood.

February 28, 2011 / 18:17 IST

Terming the Budget 2011-2012 as "progressive" and "balanced", stock market experts said it had positive surprises like encouraging FII inflow, a roadmap for reforms and checking fiscal deficit, all of which have perked up investor mood.

The Bombay Stock Exchange benchmark Sensex, which had plummeted by 13.69% in the year so far, saw an impressive rebound minutes into the Budget presentation.

Intra-day, the key index zoomed up by 595.62 points to hit a high of 18,296.53, driven by buying across sectors.

"Quantum increase in the limit for FII investment in infrastructure bonds and allowing foreign investors to invest in domestic mutual funds are bold moves towards liberalising the capital account," said SBI MF CIO Navneet Munot.

Investors who have been extremely nervous so far this year were positively surprised as the Budget exceeded street expectations.

first published: Feb 28, 2011 06:11 pm

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