Finance Minister Nirmala Sitharaman presented Budget 2023 today and the market mood remained extremely volatile with BSE Sensex skyrocketing over 1100 pts in the intraday trade and then crashing 1% towards closing, but it somehow managed to settle mildly in the green. On the other hand, NSE Nifty 50 ended the session in red as index heavyweight Adani Enterprises dragged the Nifty lower. Let’s have a look at how markets have reacted on the budget day over the past 11 years:
NSE Nifty 50 on last 11 Union Budget days
2013: Down 1.79%, 104 points
Finance Minister P Chidambaram presented the budget on February 28 and the stock markets plunged following the announcement. The BSE Sensex fell 291 points or 1.52% closing at 18,861.54 and the Nifty 50 dropped 104 points or 1.79% to 5,693.05.
2014: Up 0.41% in February; Down 0.2% in July
Two budgets were presented in 2014 as it was the election year. P Chidambaram presented the interim Union Budget on February 17. The markets responded positively to the budget, and the day ended with gains. The BSE Sensex was 97.20 points or 0.48% higher, settling at 20,464.06 and the Nifty 50 rose 24.95 points or 0.41% to 6,073.30. On July 10, Arun Jaitley presented his first budget after BJP’s massive win in the Lok Sabha elections. The markets ended in red with BSE Sensex falling 72.06 points to finish at 25,372.75. The Nifty 50 dropped 17.25 points, closing at 7,567.75.
2015: Up 0.64%, 57 points
The budget was presented on Saturday, February 28, by Arun Jaitely, though markets remain closed on weekends they were kept open for budget. The BSE Sensex rose 141.38 points or 0.48% concluding at 29,361.50 and the NSE Nifty advanced 57 points to 8,901.80.
2016: Down 0.6%, 43 points
On February 29, Arun Jaitley presented the Budget. Markets responded unfavourably and ended the day with losses. The BSE Sensex fell 152.30 points to settle at 23,002.00. The Nifty 50 dropped 42.70 points to settle at 6987.05.
2017: Up 1.81%, 155.1 points
Arun Jaitley moved the date of the Budget presentation to February 1 for the first time. The markets responded positively with the BSE Sensex finishing at 28141.64, up 485.68 points or 1.76%. The NSE Nifty 50 rose 155.10 points or 1.81% and closed at 8716.40 points.
2018: Nearly flat
Arun Jaitley delivered his last Budget speech on February 1. The stock market ended marginally in the red. The BSE Sensex fell 58.36 points to close at 35,906.66. The NSE Nifty 50 declined 10.80 points to 11,016.90.
2019: Down 1.14%, 135.6 points
Two budgets were presented in 2019 due to the elections. On February 1, Piyush Goyal, Minister of State for Power, coal and renewable energy delivered the 2019 Interim Budget. The markets reacted favourably to the Budget. The BSE Sensex climbed 212 points to 36,469.43. The Nifty 50 index advanced 62.7 points to 10,893.65. Nirmala Sitharaman on July 5 became the second woman Finance Minister after Indira Gandhi to have presented the Union Budget. The BSE Sensex crashed by 980 points during the day but recovered marginally to close with a loss of 394.67 points at 39,513.39. The NSE Nifty 50 dipped 135.60 points to conclude at 11,811.20.
2020: Down 2.5%, 300 points
The budget was announced on Saturday, February 1 and the equity markets remained open. Nirmala Sitharaman’s second budget failed to boost market sentiment. The BSE Sensex crashed by 987.96 points to conclude at 39,735.53. The NSE Nifty 50 dropped 300.25 points to close at 11661.85.
2021: Up 4.7%, 647 points
The budget was presented for the first time in the paperless form in a made-in-India tablet due to covid-19 pandemic. The markets responded positively to Finance Minister Nirmala Sitharaman’s Budget with Sensex and Nifty rallying over 4%. The BSE Sensex surged 2314.84 points to close at 48,600.61. The NSE Nifty 50 jumped 646.60 points and finished at 14,281.20.
2022: Up 1.37%, 237 points
Markets rallied over a percent, cheering Finance Minister Nirmala Sitharaman’s Budget. The BSE Sensex surged 849.40 points to 58,862.57 and the NSE Nifty was up by 237 points or 1.37% to 17,576.85.
2023: Sensex up 0.28%, Nifty 50 down 0.26%
Domestic indices pared gains slipping into negative territory and finally ending on a mixed note amid volatility as budget excitement settled. During the day, the BSE Sensex jumped over 1100 points, touching an intraday high of 60,773.44 and NSE Nifty 50 surpassed the 17,970 mark but immediately after Finance Minister Nirmala Sitharaman’s speech finished, indices started falling, crashing nearly 1%. The BSE Sensex rose 158.18 pts or 0.27% to close at 59,708.08 and the Nifty 50 fell 45.85 pts or 0.26% to 17,616.30.