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
Budget 2021 | Markets
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.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
First Published: Tue, February 02 2021. 19:16 IST