On last trading day chaos in stock market! Market closed and the investors sunk crores of rupees

The market continues to decline since morning

This morning the stock market was open in the red mark. The Sensex opened 43.88 points lower at 60,814.55 and the Nifty fell 24.40 points at 18,083.45. Slow pace has been seen in the global market as well. US markets closed lower for the third straight day on fears of a recession. The effect of this has also been seen in the Indian market today. On Thursday, Howe Jones closed at 252 points. Investors will keep an eye on Reliance Industries shares today. Quarterly results of Reliance Industries will come today. 19 out of 30 stocks included in the Sensex are seeing gains and 11 are declining. Banking, IT and FMCG stocks were down in early trade.

If you are a stock market investor then you have a great opportunity to earn in the month of January. In fact, the data showed that in the last six out of the last 10 budgets, there was a spectacular bull market in the month before the presentation of the budget. Citing market data, the report said the BSE Sensex rallied 7.5 percent in the month-long run-up to the Budget in 2016. The BSE Sensex performed well in the months leading up to the Union Budget 2017 and 2018, gaining 5.7 percent and 6.2 percent, respectively, according to the data. Similarly, the benchmark rose 1.5 percent in 2021 and 0.6 percent in 2019. The BSE benchmark rose 4.4 percent in 2022.

A decline was seen before these budgets

If we talk about down years, the benchmark Sensex fell by 6.2 percent in 2013, while it fell by 3.8 percent in 2012. In 2020 it also saw a decline of 3.8 percent. In 2014, the benchmark was down 0.8 percent and 0.7 percent in 2015. With the Union Budget 2023-24 just days away, there is a possibility that expectations of a rate hike by the US Federal Reserve could lead to volatility in the BSE benchmark. Also, the geopolitical situation is still volatile due to the ongoing Russia-Ukraine war, the market may show bullish trends in the run-up to the budget. In this scenario one needs to see how the overall trend remains during this month.