Bullish trends dominant in run up month to Union Budget, shows report

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

market

IANS 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 per cent, while in 2012, it had slid by 3.8 per cent.
In 2020 also, it had fell by 3.8 per cent. In 2014, the benchmark was down 0.8 per cent and 0.7 per cent in 2015.
However the BSE Sensex did well in in the month prior to the union budget on 2017 and 2018, gaining 5.7 per cent and 6.2 per cent, as per data.
Similarly, the benchmark rose 1.5 per cent in 2021 and 0.6 per cent 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 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 per cent.
In this scenario, it needs to be seen how the overall trend remains during this month.
--IANS
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(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Jan 19 2023 | 7:05 AM IST

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