The markets have given up more than 7 per cent in the six trading sessions leading up to the Budget. Volatility, too, has spiked with the Indix VIX closing at 25.3 — a level last seen seven months ago.
Stocks tend to see huge gyration on Budget day as investors decipher the impact of the various announcements made by the Finance Minister. Since 2008, the benchmark Sensex has swung an average 3 per cent on the Budget day.
After the last Budget, it had swung 3.2 per cent and ended with a deficit of 2.4 per cent. If history is any indication, investors will have to brace for volatility on Monday.
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