Perspective on Union Budget by Robin Arya , smallcase manager, Founder of GoalFi
Below Perspective on Union Budget by Robin Arya , smallcase manager, Founder of GoalFi
Indian equity markets witnessed heightened volatility during the special Sunday trading session on February 1, 2026, coinciding with the Union Budget presentation, as benchmark indices trending lower amid widespread profit booking and investor caution. The BSE Sensex shed approximately 797 points to hover around 81,472, marking a nearly 1% intraday decline, while the NSE Nifty dropped 274 points to 25,046, down 1.08%, reversing early gains where Sensex touched 82,727 and Nifty 25,441 post-opening.
The downturn accelerated post the 11 AM Budget speech, triggered by reactions to higher securities transaction tax (STT) on derivatives, elevated fiscal deficit projections, and relatively subdued capital expenditure targets, dragging banking heavyweights alongside broader sectoral losses. Intraday swings were dramatic, with Sensex plunging up to 2,400 points and Nifty nearly 750 points at lows, underscoring market disappointment despite some positive rural and infra sops. All major sectoral indices remained in the red, reflecting a risk-off sentiment as traders awaited further clarity on policy implementation.
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