After opening the day on a flat note, the Indian share markets witnessed choppy trades and continued to trade near the dotted line. Sector indices are trading on a mixed note with stocks in the metal sector and auto sector witnessing maximum selling pressure. Stocks in the telecom sector are trading in the green.

The BSE Sensex is trading down 42 points (down 0.2%) and the NSE Nifty is trading down 15 points (down 0.2%). The BSE Mid Cap index is trading up by 0.5%, while the BSE Small Cap index is trading up by 0.4%. The rupee is trading at 67.43 to the US$.

Market participants in the Indian stock market are keeping tabs on how the announcements made in yesterday’s budget will affect their investments. Finance Minister Arun Jaitley came out with a low-key budget yesterday. While the focus was still on farmers, underprivileged, rural development and job creation, the budget didn’t leave any of the other stakeholders disappointed.

The Union Budget focused on 10 distinct themes viz. farmers, rural population, energizing youth, poor and underprivileged, infrastructure, financial sector, digital economy, public service, prudent fiscal management, and tax administration. As per Jaitley, Budget 2017-18 is set out to Transform, Energise, and Clean India.

The stock markets have clearly given a thumbs-up to the budget. But the question is: Should you rush out and grab a slice of this relief stock rally?

Rahul Shah, co-head of research, answer this question in the recent edition of the 5 Minute WrapUp. As per him, market participants should not fall for the post-budget buying frenzy. Rather, they should look out for value and follow a long term value investing approach.

One of the major beneficiaries of the budget was the rural economy. Many measures are announced in the budget to prop-up the rural India. With an aim to double farmer’s income in five years, the government made an allocation of Rs 480 billion under Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA). This is the highest ever allocation for MNREGA as is seen in the chart below: