The benchmark indices -- BSE Sensex and NSE Nifty -- have broadly reacted negatively to the Budget presentations since 2009.
On an average basis, both Sensex and Nifty have fallen by 0.6% across all the 11 full-budgets and two interim budgets since 2009. The worst reaction was for the 2009-10 budget by then Finance Minister Pranab Mukherjee, when markets tanked by 5.8%. The best performance was on the 2017-18 budget by Arun Jaitley, when markets rose by 1.8%. Moreover, on two occasions -- one interim budget by Piyush Goyal and one full budget by Arun Jaitley -- the markets were closed as the budget presentation was made on a Saturday.
The markets reacted negatively even after Finance Minister Nirmala Sitharaman's maiden budget in 2019. It is yet to see how the market reacts this year on the Budget day.
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