New Delhi, Feb. 3 -- The Union Budget, which is also referred to as the Annual Financial Statement in Article 112 of the Constitution of India, is a major event for the domestic equity markets, as it has the power to shape the market direction for the following financial year.

Decisions made in the budget regarding capital expenditure, tax changes, and social welfare programs can have a wider impact on different sectors and industries. It also has the power to change the standard of living of citizens, boost employment, and enhance the country's competitiveness on the global stage.

In some cases, the budget may meet market expectations, leading to a strong rally in stocks, while in other cases, the market may be disappointed when the an...