How have markets moved after Union Budgets over the decade?

Nifty 50 data from February shows it closed in red after the Union Budget in seven out of 10 years, while average Nifty returns stood at -1.9% over the past decade, NDTV Profit reported. The market fell over 5% in 2016, 2018, 2020, and 2025, it added. Further, mid and smallcap indices closed in red in eight of 10 years.