Sensex scaling the 50,000 mark raises questions ahead of the Union Budget 2021. Should investors keep booking profit amid the ongoing slide in index or should they bet big on the Budget being presented in the backdrop of Covid-19 crisis?
Of the last 10 budgets, the stock market has closed lower six times. Twice the indices closed over 1% lower (2012, 2013). This excludes Budget 2020's 2.4% drop in Sensex, the worst budget-day plunge since 2009
The blue-chip NSE Nifty 50 index was up 0.88% at 13,938.50 by 9:18 am while the benchmark S&P BSE Sensex added 0.83% to 47,262.87. However, both indexes are on course to clock their second week of losses