Here's how stock markets fared on budget day in last decade of Modi government

Stock market on Budget day: Budget days are marked with volatility with sectors and stocks reacting budget proposals announced during the Finance Minister's speech. The Union Budget is one of the most anticipated events in the Indian financial calendar. Over the past decade, the performance of the Indian stock market on Budget day has reflected investor sentiment and market expectations.

Historical Performance (2014-2023)

July 10, 2014

Previous close: 7,585.00

Opening: 7,589.50
Closing: 7,567.75
Change: -0.2 per cent

February 28, 2015

Previous close: 8,844.60

Opening: 8,913.05
Closing: 8,901.85
Change: 0.65 per cent

February 29, 2016

Previous close: 7,029.75

Opening: 7,050.45
Closing: 6,987.05
Change: -0.61 per cent

February 1, 2017

Previous close: 8,561.30

Opening: 8,570.35
Closing: 8,716.40
Change: +1.81 per cent

February 1, 2018

Previous close: 11,027.70

Opening: 11,044.55
Closing: 11,016.90
Change: -0.10 per cent

February 1, 2019

Previous close: 10,830.95

Opening: 10,851.35
Closing: 10,893.65
Change: +0.58 per cent

February 1, 2020

Previous close: 11,962.10

Opening: 11,939.00
Closing: 11,661.85
Change: -2.51 per cent

February 1, 2021

Previous close: 13,634.60

Opening: 13,758.60
Closing: 14,281.20
Change: +4.74 per cent

February 1, 2022

Previous close: 17,339.85

Opening: 17,529.45
Closing: 17,576.85    
Change: +1.37 per cent

February 1, 2023

Opening: 17,811.60
Closing: 17,616.30
Change: -0.26 per cent

On this Budget day, the Nifty 50 opened at 17,811.60 points and closed at 17,616.30 points, reflecting a slight decline of 0.26 per cent. The market was somewhat subdued due to mixed reactions to the fiscal policies.

February 1, 2024

Opening: 21,780.65
Closing: 21,697.45    
 Change: -0.13 per cent

The Nifty 50 opened at 21,780.65 points and closed at 21,697.45 points, with a minor decrease of 0.13 per cent. The market showed a muted reaction to the budget amidst broader economic concerns.

Markets generally responded positively to Budgets that stressed infrastructure development, fiscal discipline, and growth-oriented policies. During periods of economic uncertainty, such as in 2020, markets exhibited heightened volatility and negative reactions. Announcements related to fiscal measures, such as tax reforms and capital expenditure, significantly influenced market performance.

(Source: Republicbiz)