Indian Stock Markets Dip Ahead of Union Budget 2026, Markets to Open on Sunday
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Indian equity benchmarks experienced a downturn on Friday, January 30, 2026, as investors adopted a cautious stance leading up to the presentation of the Union Budget 2026 on February 1, 2026. Despite an unusual decision to keep markets open on Sunday, trading sentiment remained subdued, particularly in the metal and IT sectors.
Market Performance at Midday
By 12:00 PM local time, the BSE Sensex stood at 82,094, reflecting a decline of 471 points, or 0.57 percent. The NSE Nifty50 mirrored this trend, trading lower by 154 points, or 0.61 percent, at the 25,264 level. This indicates a broad-based selling pressure across key indices.
Sectoral Breakdown and Key Stocks
Within the Sensex, several prominent companies contributed to the downward pressure. Tata Steel, Infosys, ICICI Bank, HCL Tech, and Tech Mahindra were identified as the top underperformers, with losses reaching up to 5 percent. Conversely, ITC, SBI, BEL, Adani Ports, and Axis Bank bucked the trend, posting gains of up to 0.67 percent.
The broader market presented a mixed picture. The Nifty Midcap 100 edged down by 0.08 percent, while the Nifty Smallcap 100 index showed resilience, rising by 0.42 percent. Sectorally, the Nifty Metal index bore the brunt of the selling, falling by over 3.5 percent, followed closely by the Nifty IT index.
Economic Outlook and Corporate Earnings
Positive economic indicators released on Thursday offered a glimmer of optimism. The Economic Survey 2026 projected a GDP growth rate of 7.4 percent for fiscal year 2026 and a range of 6.8 to 7.2 percent for fiscal year 2027. This forecast is underpinned by expectations of easing inflation, robust domestic demand, and continued fiscal prudence.
Several companies are slated to announce their quarterly results today, including Power Grid, SAIL, Welspun Corp, Reliance Power, Subros, RattanIndia Power, Seamec, and PSP Projects. These earnings reports will be closely watched for further insights into the health of the Indian economy.
