Stock Market Today Highlights: Sensex, Nifty bleed on Budget day

At close, the Sensex was down 1,546.84 points or 1.88 per cent at 80,722.94, and the Nifty was down 495.20 points or 1.96 per cent at 24,825.45. About 1673 shares advanced, 2299 shares declined, and 155 shares were unchanged.

Sensex and Nifty has dropped nearly 100 points as Union Finance Minister Nirmala Sitharaman shared details of the Budget 2026-27. The Sensex fell 103.07 points or 013 per cent at 82,166.71 and Nifty dropped 69.15 points to 25,251.50.

To scale up manufacturing in strategic and frontier sectors, the Union Finance Minister proposed to launch:

- Biopharma SHAKTI
- India Semiconductor Mission (ISM) 2.0
- Electronics Components Manufacturing Scheme
- Dedicated Rare Earth Corridors in Odisha, Kerala, Andhra Pradesh and Tamil Nadu
- 3 dedicated Chemical Parks
- Scheme to revive 200 legacy industrial clusters

Stock market benchmark indices Sensex and Nifty gained momentum as Union Finance Minister Nirmala Sitharaman presented the Budget 2026-27. After fluctuating in early trade, the 30-share BSE Sensex later bounced back and climbed 352.72 points to 82,622.50 in morning trade. The 50-share NSE Nifty edged higher by 47.20 points to 25,367.85.  

Finance Minister Nirmala Sitharaman presents the Union Budget 2026-27. Meanwhile, benchmark indices Sensex and Nifty gained momentum and were trading higher in morning trade. 

Ahead of the Union Budget 2026, Sensex gained 215.55 points or 0.26 per cent at 82,485.33. However, the 30-share BSE Sensex shed 119.19 points to start the session at 82,388.97.

Amid volatility in the market, Nifty Metal fell 4.16 per cent today. Shares of Hindustan Copper fell over 11 per cent and Hindustan Zinc around 10 per cent in the early trade. Shares of NDMC, SAIL and others are also under pressure.

Selling pressure intensified on the MCX today, with both metals hitting lower circuits, sliding 9% earlier amid a brutal session, compounding Friday’s steep losses of 17% in gold and 27% in silver. Currently, gold trades 5% lower after a modest intraday recovery, while silver holds declines as traders now approach the Union Budget cautiously, wary of potential changes to import duties on precious metals

MCX Silver futures have seen an extreme volatility-driven reversal after posting record highs near ₹4,20,000, followed by a near-vertical collapse toward ₹2,84,000, confirming blow-off top behavior. 

MCX Gold futures have witnessed a sharp rejection from the Rs 1,80,000–1,81,000 zone, followed by an aggressive breakdown, confirming short-term trend exhaustion after a parabolic rally. The price has slipped back toward the Rs 1,36,000 region, indicating heavy profit booking and long liquidation rather than healthy consolidation.

As Sensex and Nifty trade flat, India VIX is up over 4.5 per cent. According to experts, stock markets will remain volatile today amid persistent selling by Foreign Institutional Investors (FIIs).

In early trade, market breadth was negative, with 1,078 stocks advancing against 1,346 stocks declining on the NSE. 92 stocks remained unchanged.

Indian equity benchmark indices, the Sensex and Nifty, opened mixed on Sunday, February 1, 2026. While the 30-share BSE Sensex shed 119.19 points to start the session at 82,388.97, the Nifty added 13.1 points to open at 25,333.75. In the last trading session, the Sensex closed at 82,269.78 and the Nifty 50 at 25,320.65. 

Stock markets are set to begin the session on a positive note as the Sensex rises over 100 points in the pre-opening session, and the Nifty is above 25,300. 

Indian equity benchmarks are likely to begin Sunday’s session on a subdued note, as investors remain focused on the Union Budget presentation. Gift Nifty signals a flat start for the domestic markets.

The 25180 region has held ground so far, preventing a potential collapse to 24715-650-580. Expect swings and attempts to test both extremities of the 25180-400 band. Oscillators’ position permits more upsides, with 25580-800 in sights, but with momentum indicators weak, sustainability is doubted.

According to Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, aside from the Budget, the crash in precious metal prices may bring investors back into equity.

"Investors don’t have expectations of any major tax reliefs in this Budget since the 2025 Budget delivered huge income tax reliefs. Some tweaking of certain taxes is likely. If there is an increase in exemption for long-term capital gains tax from Rs 1.25 lakhs presently to a higher limit that would be a positive. From the market perspective, a fiscally prudent, growth-oriented Budget is desirable. There are rumours of exemption from long-term capital gains tax for certain categories of FIIs. If this happens, it can trigger a rally in the market," Vijayakumar said.

The benchmark indices saw narrow-range activity. The Nifty ended 98 points lower, while the Sensex was down by 297 points. As Nirmala Sitharaman prepares to present the Union Budget on February 1, the market is looking for a careful fiscal balancing act - maintaining discipline while protecting growth and stabilising capital flows.