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Investors would need to wait for things to settle down and tread cautiously in the months ahead to make their choices in the stock market. It is most likely to be range-bound in the next six months, said Mr S. Sridharan, auditor, while addressing a meet on ‘Budget 2011', organised by Coimbatore Capital Ltd, here recently.
He said the Budget exercise, overall, has sustained the view that the corporate sector has been favoured. Though the agriculture and infrastructure sectors have been provided more allocation, last year, only 26 of the 60 schemes announced for agriculture have been implemented.
The permission for foreign institutional investors to invest in infrastructure may be a welcome move but at the ground level, the projects have witnessed tardy implementation. Governance has been a big question in taking the benefits to the population. It remains to be seen how effectively cash transfers suggested in the Budget, get implemented, he observed.
He further said that the Budget has not rocked the market. The inflationary trend in the economy, oil prices, exchange rates and commodity price movements and, most importantly, the monsoon will have a bearing in the coming months.
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