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'Bullish trends dominant in run-up month to Budget'

In 2020 also, it fell by 3.8 percent. In 2014, the benchmark was down 0.8 percent, and 0.7 percent in 2015. However, the BSE Sensex did well in the month prior to the union budget in 2017 and 2018, gaining 5.7 percent and 6.2 percent, as per data.

'Bullish trends dominant in run-up month to Budget' File Photo

New Delhi: Past trends have shown that in the last six of the previous 10 budgets, bullish trends were dominant during the month ahead of the budget presentation, reports said. The BSE Sensex corrected sharply by 7.5 percent in 2016 in the one-month run-up to the budget that year, reports citing markets data said. In 2013, the benchmark had fallen 6.2 percent, while in 2012, it had slid by 3.8 percent.

In 2020 also, it fell by 3.8 percent. In 2014, the benchmark was down 0.8 percent, and 0.7 percent in 2015. However, the BSE Sensex did well in the month prior to the union budget in 2017 and 2018, gaining 5.7 percent and 6.2 percent, as per data. (Also Read: Union Budget 2023-24: All you need to know about process involved in making of Budget)

Similarly, the benchmark rose 1.5 percent in 2021 and 0.6 percent in 2019. With the Union Budget for 2023-24 just days away, there are chances that there could be volatility in the BSE benchmark, due to expectations of US Federal Reserve hiking rates. (Also Read: Here are 10 reasons why RBI warned states to restore Old Pension Scheme (OPS))

Also with the geopolitical situation still fluid due to the ongoing Russia-Ukraine war, the markets in the run-up to the budget may show bullish trends What is to be noted is the fact that in 2022, the BSE benchmark surged 4.4 percent. In this scenario, it needs to be seen how the overall trend remains during this month.