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Below is quote on Morning market 2nd February 2022 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

"The bold capex-led growth oriented Budget augurs well for the market. 8 to 8.5% GDP growth for FY23 is credible and the consequent growth in corporate earnings can be impressive. Capital goods, cement and steel stand to benefit from the big push in capex. A new growth cycle on the back of the massive capex has the potential to crowd-in private investment leading to acceleration in the nascent credit growth. Banks and NBFCs stand to gain from this.
Now that the budget is behind us the market is likely to react more to global cues. The correction and the recent rally were, in fact, reaction to global market cues. FIIs sharply trimming their selling to just Rs 22 cr helped the Budget rally. But FIIs are likely to sell the rallies again since they consider Indian valuations excessive"

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