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Budget 2024: Finance Minister Nirmala Sitharaman is set to present the Union Budget in Parliament at 11 am today. The budget has been a major trendsetter for the Indian stock market, with major volatility seen in the stock market upon its announcement. According to the available data for the last ten years, the market fell on eight out of ten budget days (February 1), with only two instances of a rise. On February 1, 2024, the trend continued as the Indian stock market experienced volatility. The BSE Sensex closed at 71,645.30, down by 106.81 points, while the NSE Nifty ended at 21,697.45, down by 28.25 points.
Year
Nifty performance on budget day (%)
2024
-0.13
2023
-0.2
2022
1.4
2021
4.7
2020
-2.5
2019
-1.1
2018
-0.1
2017
1.8
2016
-0.6
2015
0.6
2014
-0.2
Markets ahead of Budget 2024-25
Indian stock market benchmarks, Nifty 50 and Sensex ended lower on Monday, July 22, in anticipation of the Union Budget 2024. Nifty 50 fell by 22 points, or 0.09 per cent, closing at 24,509.25, while the Sensex declined by 103 points, or 0.13 per cent, finishing at 80,502.08. Despite this, the mid and small-cap segments displayed strong growth, indicating resilience amid budget-related uncertainties. Nifty experienced volatility as it approached the budget announcement day.
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