Market in consolidation phase, further 3-5% correction possible: Vijay Kedia

In an interaction with Fortune India, ace investor Vijay Kedia said the Indian share market is in consolidation phase and expects another 3-4% correction in near-term. Sharing his expert opinion on Union Budget 2025, the MD of Kedia Securities said that Finance Minister Nirmala Sitharaman took a bold move to raise income tax exemption limits to ₹12 lakh, which will provide major relief to millions of taxpayers in the country. However, he believes that the budget stimulus will not be enough to boost market sentiment and consolidation will continue in the near-term.
“The domestic market has been rising for the past three to four years and now it is in a reaction mode. The market will keep on consolidating somewhere here and there. I don't think this budget will take market to new height,” Kedia told Fortune India.