New Delhi, Jan. 28 -- As the Union Budget for FY2026-27 approaches, market participants are bracing for a policy event that could once again influence sectoral leadership and medium-term market trends.

According to Axis Securities, India enters the budget season with relatively strong domestic fundamentals, even as global growth remains uneven amid geopolitical risks, tighter financial conditions and slowing external demand. The brokerage said investors are likely to focus on whether the government can sustain growth momentum without diluting its fiscal consolidation path.

"India's real GDP growth is estimated at around 7.4% for FY26, supported by government-led capital expenditure, resilient services exports, and gradual improvement in...