With Nirmala Sitharaman’s third Union Budget speech turning out to be the most positive for equity markets so far, global brokerage and research firm Morgan Stanley has raised its year-end target for Sensex to 61,000 in a bull-case. “The budget has favoured a wider fiscal deficit with a view to spur growth through higher capex,” analysts at Morgan Stanley said in a note. On February 1, Finance Minister Nirmala Sitharaman presented a growth-oriented Budget, with higher fiscal deficit limits and privatisation plans.
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