While the Indian markets opened in the green on Tuesday, the indexes faced weakness ahead of the budget announcement by Finance Minister Nirmala Sitharaman.

What Happened: The benchmark Sensex index opened at 80,724.30 and fell to 80,573.41. The broader Nifty 50 index started trading at 24,568.90 and fell to 24,477.15.

Eicher Motors was the top gainer in the Nifty 50, up by 2.1% at ₹4960.5, while Shriram Finance was the biggest loser, down 2.1% at ₹2769.3.

See Also: IRFC, RVNL, IRCON In Green Ahead of Budget 2024 On Hopes Of Increased Capital Allocation To Railway

Nirmala Sitharaman will present her seventh consecutive budget, a record for a finance minister, breaking the record of former Prime Minister Morarji Desai.

Markets perform mixed usually on budget days. In the last interim budget announcement on February 1, 2024, the Nifty fell 0.13%. The average performance in the last five budget days shows that the Nifty tends to rise by 0.85%.

The best performance was on 2021 budget day when Nifty surged 5%. The worst was during 2020 when Nifty fell 2.4% on the budget day.

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