The Indian equity market may trade in positive territory on May 14, supported by select pockets such as PSU banks and NBFCs after the Finance Minister Nirmala Sitharaman's announcement regarding the NBFCs, MSMEs and real estate, experts said.
Experts, however, added that a clear picture will emerge only after the FM is done with all announcements and the market till then may trade in a balanced way.
"The market has reacted positively even before the announcements, but we have to wait for more announcements to get a clear picture. It looks to be a good beginning but the market will want to look for more announcements coming in the next few days. NBFCs, power sectors will be benefitted from these measures, and real estate got a huge relief. Overall, these measures will not lift the market mood, but some pockets will see get some strength," said Nilesh Shah, Founder and CEO of Envision Capital, talking to CNBC-TV18.
While the FM's announcements may influence the mood of the market, the benchmark indices may not see a surge as they are driven by large private sector banks which are not likely to gain much from the FM's announcements.
"The index is driven by large private sector banks and the measures announced by the FM is more beneficial by PSU banks. Overall, however, it will have a positive rub off on the entire market," said Pankaj Pandey, Head of Research at ICICI Securities.
Gaurav Dua, Senior VP, Head Capital Market Strategy & Investments at Sharekhan by BNP Paribas said the equity market is expected to appreciate the measures and not celebrate it with a big surge due to two key uncertainties - the mechanism to fund the relief package and quantum of immediate outflow from the government coffers.
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