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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

Topics
Budget 2021 | Markets

Sameer Mulgaonkar  |  Mumbai 

markets, stock market, brokers, investors, sensex, correction, nifty, shares, growth, profit, economy, gain
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

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.

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First Published: Tue, February 02 2021. 19:16 IST
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