On the special trading session scheduled for today, February 1, as Finance Minister Nirmala Sitharaman prepares to present the Union Budget 2025 at 11 AM, the Indian stock market opened on a firm note. The NSE Nifty 50 gained 33.50 points, or 0.14%, opening at 23,545.75, while the BSE Sensex rose by 136.44 points, or 0.18%, starting at 77,637.01.
At 9:02 AM during the pre-open session on February 1, the Sensex stood at 77,735.17, gaining 234.60 points, or 0.30%. Meanwhile, the Nifty was at 23,580.25, up by 71.85 points, or 0.31%.
Bank Nifty opened 80.40 points or 0.16% lower to trade at 49,506.80. The Nifty Midcap 100 gained 273.05 points, or 0.51%, to open at 53,985.25.
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As of the early trading hours, the top gainers in the Sensex 30 pack included Sun Pharma, M&M, NTPC, Zomato, UltraCemco, PowerGrid, LT, and Tata Steel. On the other hand, the top losers were TCS, ITC, Hindustan Unilever, Asian Paints, Titan, Nestle India, among others.
The top 5 gainers in the Nifty 50 during the early hours included Sun Pharma, BEL, ITC Hotels, UltraCemco, and M&M. Meanwhile, the top losers were ONGC, Hero MotoCorp, Dr. Reddy’s, Titan, and BPCL.
The GIFT Nifty indicated to a subdued opening for the Indian benchmark indices, trading around the 23,533, which is about 87 points lower than the previous Nifty futures close.
“On the Budget day the market reactions will be quick in response to Budget announcements. A major expectation from the Budget is a cut in personal income tax to provide relief to the middle class and boost consumption, thereby facilitating growth recovery. The extent of the tax relief remains to be seen. The fact is that there is no fiscal space for big relief,”
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