Equity strategists agree the cash splash announced in the federal budget will provide consumers with some near-term relief as they grapple with rising living costs, stimulating the discretionary pockets of the sharemarket.

The $250 cost-of-living payment for pensioners and other welfare recipients, the $420 increase in the low- to middle-income tax offset, plus the halving of the fuel excise for six months, will all help to cushion households.