Money on the markets
A maturing market amid the mayhem
When the finance minister presents the budget, the stock market moves one way or the other.
And like every year this will dominate the news.
Over there and everywhere.
Is that fair? Or convincing?
Some of the analysis will follow a pattern.
If the stock market goes up, the budget may be described as successful because it didn’t “rock the boat”.
If it moves sideways, it may be said the market had already absorbed the good news — the growth figures for instance.
If it moves down — the fiscal deficit may be the reason.
If the finance minister withdraws the stimulus it may not be good (for some) because it may mean more taxes and hence less profit.
The BSE real estate index gained nearly 1 percent on Wednesday even as the overall market ended 30 points lower.
Indiabulls Real Estate led the realty index and posted gains of over 4 percent. Parsvnath ended nearly 3 percent higher.
A railway budget separate from the general budget started in 1924 because the railways then formed more than a third of the budget.
A dedicated budget for railways was called for.
However the pattern of government’s finances has changed and the railways despite the impressive statistics - 63,327-kilometre network, 18 million passengers, two million tons of freight – is less important.
The BSE Realty Index dropped for a third straight day on Friday, shedding 3.3 percent in a broader market that ended 0.83 percent down.
Indiabulls Real Estate slipped 6.2 percent and was the top sectoral loser, while DLF and Unitech lost 4.1 percent and 1.4 percent respectively.
Realty stocks had a weak trading day on Wednesday with the sectoral index slipping 1 percent, even as the Sensex gained over 200 points tracking positive global cues.
Indiabulls Real Estate slipped 3.3 percent and was the top sectoral loser, while DLF and Unitech lost 1.3 percent and 0.7 percent respectively.