New Delhi, Feb. 2 -- Retail investors who had been strategically accumulating stocks during the market's 7.3% decline in the December quarter, betting on a rebound, were rewarded with the unveiling of the Union budget.

A Mint analysis of 1,957 companies shows that individual investors (holding nominal share capital up to Rs. 2 lakhs) increased their ownership in approximately 51% of these companies between the September and December quarters. This compares with nearly 49% of stocks that saw a sequential rise in stakes in the previous two quarters. These 51% of companies saw a median return of 0.2%, contrasting with a slight 0.5% decline after the previous budget.

Among the stocks that experienced an increase in retail ownership on a seq...