"Definitely, there was a lot of froth in the market and midcaps were trading at very high valuations. But in the last 10 days, the good thing is that the selling started at least 7-8 days before the Budget . Fear gauge India VIX spiked.But analysts see the correction as healthy and believe that the market is in a long-term bull run. Besides, the fiscal deficit target for FY18 was extended to 3.5 per cent of GDP in the Budget, from 3.2 per cent pegged earlier. What hurt the most was a target of 3.3 per cent for FY19 against the 3 per cent projected earlier.

Source: Economic Times February 02, 2018 10:18 UTC