Sensex Crash Right this moment: The inventory market plummeted as buying and selling for the week started on Monday, February 3, 2025, the primary opening after the presentation of Union Price range 2024 on February 1. Steel, mid and small cap IT & telecom shares, in addition to actual property shares fell essentially the most
Sensex Crash Right this moment: Individuals stroll previous the Bombay Inventory Alternate (BSE) constructing in Mumbai (Francis Mascarenhas/Reuters)
At 9:20 am IST, the benchmark BSE Sensex was down by 680.06 factors or 0.88%, reaching 76,825.90. The broader NSE Nifty opened 224.45 factors down or 0.96% within the pink, reaching 23,257.70.
Akshay Chinchalkar, Head of Analysis at Axis Securities mentioned, “today is most likely going to be a gap-down given the selloff in US equity futures and regional equities including the Gift Nifty on the tariff announcement.”
“Expect more than average volatility in the month of February, given that based on two decades of data, the Nifty has produced the worst returns in the month, losing 1% on average,” he added.
The Union Price range 2025, the second full funds of Modi 3.0, was offered by Finance Minister Nirmala Sitharaman in Parliament at 11 am on Saturday, February 1, 2025, marking her eighth consecutive presentation of a Union Price range.
The market was additionally open that day regardless of it being a Saturday to present it sufficient time to react to the budgetary bulletins.
Key bulletins included main tax reforms akin to zero earnings tax for these incomes under ₹12.75 lakh each year, enhanced credit score assure for Micro, Small and Medium Enterprises (MSMEs) with customised bank cards, exemption on customized responsibility for 35 extra capital items for electrical autos (EVs), A nationwide framework to be formulated for selling International Functionality Centres (GCCs), and a ₹500 crore allocation for a Centre of Excellence in Synthetic Intelligence, amongst others.
“The sectoral budget would be positive for consumption-driven sectors like FMCG, auto footwear, etc,” mentioned, Motilal Oswal, Group MD & CEO of Motilal Oswal Monetary Companies Ltd. “I stay optimistic within the medium to long run.”
Total, capex spending deliberate at 11.2 lakh crore is according to market expectations, he added. “Focusing on MSME manufacturing will also be positive for several sectors.”
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Which shares fell essentially the most?
Among the many 30 Sensex shares, Larsen & Toubro Ltd fell essentially the most by 3.22%, buying and selling at ₹3,336.25. This was adopted by Tata Metal Ltd, which fell 2.78%, buying and selling at ₹129.25, and ITC Motels Ltd, which fell 2.26%, buying and selling at ₹168.50.
Solely 8 out of the 30 Sensex shares had been within the inexperienced.
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How did particular person sectors carry out?
All of the Nifty sectoral indices had been within the pink.
Amongst them, the Nifty Steel Index fell essentially the most by 3.19%, reaching 8,034.10, adopted by Nifty Midsmall IT & Telecom, which fell 2.38%, reaching 10,038.05, and Nifty Realty, which fell 2.07%, reaching 932.75.
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How did the inventory market carry out on Price range day?
The inventory market went into the pink after opening, went inexperienced when Sitharaman started her funds speech, and closed flat after the buying and selling session ended.
Oil & gasoline, FMCG, and PSU financial institution shares fell essentially the most upon open.
At 9:20 am IST, the Sensex was down by 63.06 factors or 0.08%, reaching 77,437.51. The Nifty opened 19.30 factors down or 0.08% within the pink, reaching 23,489.10.
After the speech started at 11 am IST, the Sensex was up 254.25 factors or 0.33% within the inexperienced, reaching 77,754.82, whereas the Nifty was up 82.55 factors or 0.35% within the inexperienced, reaching 23,590.95.
At the moment, actual property, media, and mid and small cap monetary companies shares rose essentially the most.
The markets then closed flat. The Sensex closed 5.39 factors or 0.01% within the inexperienced, at 77,505.96, whereas the Nifty closed 26.25 factors or 0.11% within the pink at 23,482.15.
Actual property, FMCG, and client durables rose essentially the most whereas PSU banks, IT, and oil & gasoline shares fell essentially the most.