“Budget Day, Big Moves — Markets Hold Their Breath”
The Nifty 50 ended Friday on a cautious note as investors stepped back ahead of the highly anticipated Union Budget 2026. While domestic benchmarks slipped, GIFT Nifty signals a flat-to-muted opening for Sunday, February 1, reflecting uncertainty before the Finance Minister’s big announcements.
Table of Contents
- Recent Market Performance
- Key Index Metrics
- Market Outlook & Levels to Watch
- Union Budget 2026: What Markets Expect
- Global Market Cues
Recent Market Performance
On January 30, the benchmark Nifty 50 closed at 25,320.65, slipping 98.25 points (0.39%) from the previous close of 25,418.90. The index oscillated between an intraday low of 25,213.65 and a high of 25,370.70.
Trading activity remained healthy with volumes of 5,083.89 lakh shares and a turnover of ₹40,771.81 crore. Despite near-term pressure, Nifty has delivered an 8.91% return over the past year, though it remains down 3.16% YTD.
Key Index Metrics
- P/E Ratio: 22.04
- P/B Ratio: 3.44
- Dividend Yield: 1.30%
- Free-Float Market Cap: ₹115.17 lakh crore
Market breadth stayed balanced with 25 stocks advancing and 25 declining. Heavyweights like Reliance Industries, HDFC Bank, and Bharti Airtel continued to dominate index movement.
Market Outlook & Levels to Watch
Early Sunday trade in GIFT Nifty hovered near 25,420, hinting at a flat opening as traders await Budget cues. The index recently snapped a three-day rally due to FII selling, rupee weakness, and pressure in banking and metal stocks.
Technical levels to watch:
Support is placed at 25,200–25,300 near the 200-day EMA, while immediate resistance stands at 25,500. A decisive move beyond this range could set the tone for the coming weeks.
Union Budget 2026: What Markets Expect
Finance Minister Nirmala Sitharaman presents the Union Budget today, with investors tracking announcements on capital expenditure, tax reforms, rural spending, and consumption-led growth.
Sectors like agriculture, digital infrastructure, NBFCs, and manufacturing are in focus. Pharma and auto stocks reported mixed Q3 earnings, while metals weakened ahead of the event. Analysts expect heightened volatility but policy continuity.
Global Market Cues
Global sentiment remains mixed. US Dow futures fell 0.40% and Nasdaq futures slid 0.95%, while Europe’s FTSE gained 0.51%. Asian markets were uneven with Nikkei down 0.10% and Hang Seng slipping 1.98%.
Persistent FII outflows and global uncertainty, including developments around US Fed leadership, continue to weigh on Indian equities.
With Budget 2026 in focus, Nifty stands at a crucial crossroads. Traders should brace for sharp swings as policy announcements decide whether the index breaks higher — or slips below key support.
Disclaimer: Yeh views market experts ke hain and not of trueincome. Investment karne se pehle certified advisor se consult zaroor karein.