Sensex, Nifty can fall up to 10% with bigger crash in smallcaps, warns Emkay

Emkay Global cautions of a potential 5-10% correction in Sensex and Nifty amid a post-election market rally. Smallcap and midcap stocks could see sharper declines. Nirmala Sitharaman's upcoming Union Budget is anticipated to prioritize capital expenditure (capex) over revenue expenditure (revex), signaling policy continuity.