On the first trading session after the Union Budget, the Indian stock market registered a slow session and the indices closed in the red. The Sensex closed at INR 77,186 and was slightly lower than the previous day’s close.
The Nifty 50 settled at INR 23,361 with gains of Bajaj Finance, which surged over 5%, Shriram Finance and M&M moving more than 3% each. However, selling pressure dominated and L&T shed over 4%, Tata Consumer over 3%, while stocks like Hero MotoCorp, Coal India, NTPC, Bajaj Auto, Tata Motors, Asian Paints, and ONGC too saw losses of over 2%.
Nifty Bank closed at INR 49,210, which reflected a loss in the day. Major contributors to the decline were ICICI Bank, SBI, HDFC Bank, Axis Bank, Kotak Bank, PNB, and Bank of Baroda, which kept the banking sector under pressure.
The Nifty Next 50 index fell to INR 62,635, which was a fall of more than 1%. Siemens led the decline, plummeting more than 8%. Motherson also fell more than 8%. HAL was down by more than 6%, and JSW Energy declined by over 5%. Some other losers that added to the weakness of the index were ABB, REC Ltd, PFC, Vedanta, and Tata Power.
BSE 200 closed at 10,583 as it continued a downward movement. Siemens remained the biggest loser in the session that saw its decline by over 9%, and Motherson declined more than 8%. Thermax came down by more than 7%, whereas losses were registered at HAL, Mazdock, RVNL, and HPCL also, thereby making the index slip.
Overall, the market remained stagnant on the first trading session after the Budget. While the financial sector showed resilience, broader indices struggled amid heavy selling pressure. The market’s reaction remained subdued as investors weighed the impact of the Budget on various sectors.
Disclaimer: The information provided is for educational purposes only and does not constitute financial advice. We are not registered financial advisors. Please conduct your own research and consult a qualified advisor before making investment decisions. Any investment decisions you make based on this information are solely at your own risk.
Also read: FDI Cap for Insurance Industry Hiked to 100% in Union Budget 2025-26
Published on: February 2, 2025 at 8.00 PM GMT.
Government’s Debt Management Strategy:
The Indian government has stated that it will not undertake a direct debt swap with the Reserve Bank of India (RBI) for sovereign bonds that are maturing in the next fiscal year. These sovereign bonds amounting to around ₹1 trillion would be managed through market-based operations. This measure has led to a gross borrowing target of ₹14.82 trillion for the fiscal year 2025-26, against ₹14.01 trillion for the current fiscal year.
As stated in Bhagavad Gita : (Bhagavad Gita 2.20)
न हन्यते हन्यमाने शरीरे।
The soul is never destroyed when the body is destroyed.
4th February is celebrated as World Cancer Day!
