Andrew Holland

The measures, overall, will push private capex higher at a time when the global economy is facing recessionary headwinds, says Andrew Holland

"I expect market volatility to remain high as the US election approaches," says Holland.

The Nifty50 breached 8,800 levels for the first time since February 2017, a 3-year low. The S&P BSE Sensex plunged more than 3,000 points to hit a three-year low on Friday

The fiscal deficit number is manageable, but given the deviation from the original target, I would have liked to see some extra spending where it would have made a difference.

The budget will not drastically change the weightage of foreign investors as regards to India. They will continue on the same path set earlier, he said.

The mid-and-small-cap segments will be impacted heavily as these two were the main segments where investors made the most money.