Sensex rises 800 points after Budget. Experts recommend these stocks to buy
1 min read 01 Feb 2022, 03:32 PM ISTStock market experts believe that investor needs to focus on capital goods and infra sector and think of buying stocks like Thermax, L&T, Siemens, Grindwell Norton, KNR Construction, PNC Infra, ACC
PremiumStock market today: After tabling of Union Budget 2022 in the parliament, Indian secondary market become highly volatile, however, it managed to maintain its positive bias and regained the losses it witnessed in mid session today. The BSE Sensex shot up more than 800 points and hit 58,800 levels whereas Nifty 50 gained over 225 points and hit 57,565 levels.
According to stock market experts, 35 per cent increase in Capex following the same increment last year, is one of the biggest takeaways for the stock market. They said that after this announcement by Finance Minister Nirmala Sitharaman, positional investors are advised to focus on Capital Goods and Infrastructure sector and stocks like Thermax, L&T, Siemens, Grindwell Norton, KNR Construction, PNC infra, Action Construction Equipment and ACC can be a good post-budget stocks to buy today.
Speaking on post-budget stocks to buy; Parth Nyati, Founder at Tradingo said, "The big highlight of the budget is the 35 per cent increase in Capex following the same increment last year means the government's main focus on manufacturing and infrastructure that will automatically result in growth and employment. There was no negative surprise for the market in light of state elections. Overall the budget is sensible to give more fuel to the growth engine of the economy. The investor needs to be focused on Capital Goods and Infra sector and think of buying stocks like Thermax, L&T, Siemens, Grindwell Norton, KNR Construction, PNC infra, ACC."
Echoing with Parth Nyati's views; Santosh Meena, Head of Research, Swastika Investmart Ltd said, "The overall budget looks good from the market's perspective as the budget is focused on growth however there is some volatility in the market which is normal for any budget day."
On stocks to buy post-budget, Santosh Meena of Swastika Investmart said, "Heavyweight L&T is providing support to the market after announcement of big Capex and we can expect it may continue to outperform. Action Construction Equipment share is another player for both infra and capital goods that may do well in midcap space."
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
