Finance Minister Nirmala Sitharaman is set to present the Union Budget 2025-26 on February 1. Ahead of the big announcement, GIFT Nifty trends suggest that Indian stock markets- BSE Sensex and NSE Nifty 50 could open on a weak note.
Market end on a positive note on Friday
On Friday, the NSE Nifty 50 ended 258.90 points higher, gaining 1.11% to close at 23,508.40. Meanwhile, the BSE Sensex rose 740.76 points, or 0.97%, finishing at 77,500.57.
Key global and domestic cues to know on February 1, 2025 Union Budget 2025
Indian stock and commodity markets will remain open today for a special trading session on Budget Day. As Finance Minister Nirmala Sitharaman presents the Union Budget 2025-26, trading will follow a scheduled timeline. Pre-market trading starts at 9:00 AM and lasts until 9:08 AM, while regular equity trading will take place from 9:15 AM to 3:30 PM.
Asia Markets
Asian markets showed a mixed trend on Friday, January 31 as Japan’s Nikkei edged up 0.15%, while South Korea’s Kospi dipped 0.77%, reflecting cautious sentiment. Meanwhile, markets in China and Hong Kong remained closed for holidays.
Wall Street
US stocks closed lower on Friday following the White House announced that President Donald Trump would impose tariffs on imports from Canada, Mexico, and China starting Saturday. The Dow Jones Industrial Average fell 337.47 points, or 0.75%, to settle at 44,544.66. The S&P 500 slipped 30.64 points, or 0.50%, ending at 6,040.53, while the Nasdaq Composite dropped 54.31 points, or 0.28%, closing at 19,627.44.
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US Dollar
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was down 0.59% at 107.47 on Friday. The index measures the US dollar’s strength or weakness against major currencies. The basket contains currencies such as the British Pound, Euro, Swedish Krona, Japanese Yen, Swiss Franc, etc. Also, the Indian rupee closed at 86.61 against the US Dollar on Friday.
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