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Below the Morning Market Views from Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

"On the Budget day the market reactions will be quick in response to Budget announcements. A major expectation from the Budget is a cut in personal income tax to provide relief to the middle class and boost consumption, thereby facilitating growth recovery. The extent of the tax relief remains to be seen. The fact is that there is no fiscal space for big relief.

The market will be looking for growth stimulating measures; not market-related taxation reliefs like changes in the capital gains taxation.

The market response to the Budget will not last more than a few days. Trends in growth and earnings recovery will dictate the medium to long-term market direction."

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