- Buy good FMCG stocks; growth and earnings expectations on these will now be revised upwards
- Infrastructure and utility companies serving the rural sector will benefit from the budget
- Global cues are more important now; expectations are that markets would cool off by September
- Don’t buy companies looking to raise funds, as debt is likely to get costlier
***For all the noise generated about the "exaggerated" response of the stockmarkets to Budget ’09, it’s rather reassuring that they have a very short memory span. One moment is still crystal clear, though: when the Union finance minister spelled out the fiscal deficit, all the pre-budget euphoria drained out like a punctured balloon. Was this reaction justified, particularly when it was clear that most analysts and macro-economic experts had already resigned themselves to the deficit being 6.2 per cent of the GDP as announced in the interim budget?