Budget rally extends for the second day, Sensex rises another 2.46%

In terms of day-2 performance, this is among the top 10 since 1991, while if one looks at two-day performance (budget and next-day) this is in the top 5

The budget euphoria continued for a second day on Dalal Street with the Sensex rallying another 2.46 per cent, extending its two-day advance to 7.6 per cent. In terms of day-two performance, this is among the top 10 since 1991, while if one looks at two-day performance (budget and next-day) this is in the top 5. After the 1992 budget presented by Manmohan Singh, the Sensex had rallied 20 per cent in two days, while after the 1997 budget by P Chidambaram, the index soared 12 per cent. For the 36 Union Budgets (includes vote-on-account) since 1991, the two-day performance for the Sensex has been positive only on 16 occasions. The average one-month post-budget gain for the market for these 16 occasions has been 6 per cent. While, the overall one-month post-budget average for the 36 budgets is 0.3 per cent.