Why the markets began to party after sinking on budget day
With much of the budget disappointment already priced in and global cues turning slightly supportive, the benchmarks recovered even as concerns over near-term growth and earnings lingered. After sliding nearly 3% intraday on Sunday and closing nearly 2% down, the Nifty 50 climbed 1.06% on Monday to close at 25,088.40, and the Sensex rose 1.17%…