THE CAPEX THEME which was a favourite of Dalal Street in recent years, may take a back seat for some time as the government shifts its focus to boosting consumption amid the urban slowdown.
Market watchers believe that the tax rebate may infuse i lakh crore into the hands of middle-class households nationwide, but equity markets were not excited. After falling marginally by 0.1% during the special trading session conducted on Budget Day (February 1), the benchmark equity index NSE Nifty 50 declined by more than 0.5% to 23,361 on February 3.
Wealth manager Emkay Global Financial Services has maintained its December 2025 target for the Nifty 50 index at the 25,000-mark. Market veteran Vijay Kedia, Director, Kedia Securities, told BTTV that the consolidation in the stock markets may continue as the tax relief may not bring any major movement or shift.
Pawan Parakh, Fund Manager at financial services company Geojit Financial Services, says the government has tried to improve consumer sentiment via a massive increase in the zero tax slabs.
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