Past data shows that in 20 Budget sessions, the market has ended with gains only on eight occasions.
Investors will have to brace for a spike in volatility during the Budget day trade on Friday.
The benchmark Sensex has swung an average 3.4 per cent in past 20 Budget-day sessions, an analysis of trading data shows.
While on a closing basis the market often tends to end flat, but investors rarely get to escape the volatility as traders react to a host of announcements made by the finance minister.
For instance, during the previous Union Budget, the Sensex ended just 0.2 per cent lower but swung 2.1 per cent, or 755 points, during the day.
Similarly, in 2016, the Sensex ended 0.7 per cent lower after gyrating 849 points, or 3.8 per cent.
In the past 20 Budget sessions, the market has ended with gains only on eight occasions.
On an average, the Sensex has ended a per cent lower during the last 20 sessions.