It takes a few days for investors to analyse and understand the fine print in Budget documents. So, we checked the 𝗯𝗲𝘀𝘁 𝗮𝗻𝗱 𝘄𝗼𝗿𝘀𝘁 𝗽𝗲𝗿𝗳𝗼𝗿𝗺𝗶𝗻𝗴 𝘀𝗲𝗰𝘁𝗼𝗿𝘀 𝗼𝗻𝗲 𝘄𝗲𝗲𝗸 𝗮𝗳𝘁𝗲𝗿 𝘁𝗵𝗲 𝗕𝘂𝗱𝗴𝗲𝘁. We observed two surprising trends. First, despite the tax benefit announced in the Budget, FMCG is among the worst one-week performers. Second, *media index* – which did not do well in the calendar year 2024 – is among the best performing index.