Adani wipeout puts focus on Union Budget 2023 to reignite stock market rally

After a $68 billion rout in Adani Group shares that has helped make India’s stock market the worst performer in Asia this year, investors are looking to government spending to spark a rebound. Prime Minister Narendra Modi’s government will present its annual budget to the parliament on Wednesday. The plan is expected to boost funds for infrastructure, defense and logistics, providing windfalls for related companies.