Budget 2023: How stock market has fared in the run-up to D-Day in past years
Sensex, Nifty50 Budget Day Return: The Indian stock market has mostly declined one month prior to the presentation of the Union Budget in Parliament over the past few years.
Sensex, Nifty50 Budget Day Return: Indian equity benchmarks have mostly suffered minor losses one month prior to the presentation of the Union Budget in Parliament over the past few years, reflecting a loss of risk appetite among investors ahead of the big day. From allocation to various sectors of the econnomy, fiscal prudence, market triggers or income tax changes, the countdown to the release of the Budget typically brings with it a flood of expectations — which generally finds the bulls weaker in their tug of war with the bears!
All eyes on Union Budget 2023-24
This time around, the Sensex and the Nifty50 have each lost more than two per cent of their value during the month before the Budget, as Dalal Street awaits what Finance Minister Nirmala Sitharaman has in store for the economy, the markets and the common man on February 1. (Catch latest on Union Budget 2023-24 and key highlights of Economic Survey 2022-23 here) | Image: Reuters
Sensex, Nifty historical data
Dalal Street awaits Budget 2023
The 50-scrip headline index has broadly moved within the 17,400-18,300 band in the month before the presentation of Union Budget 2023-24 in Parliament.
The Sensex has lost 1,290.8 points — or 2.1 per cent — during this period, having gyrated in a range of 2,693.5 points, between 58,699.2 and 61,392.7, during this period.