 "Markets have been swinging an average 3% on budget day")
The market has given up more than seven per cent in the six trading sessions leading up to the budget. The volatility too has spiked with the Indix VIX index ending at 25.3—a level last seen seven months ago. Stocks tend to see huge gyration on the budget day as investors decipher the impact of the various announcements the Finance Minister makes in the budget speech. Since 2008, the benchmark Sensex has swung an average 3 per cent on the Budget day. Last budget, it swung 3.2 per cent and ended with a deficit of 2.4 per cent. If history is any indication, investors will have to brace for volatility on Monday.
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