Trent, Maruti Suzuki, Tata Consumer, Eicher Motors, and Asian Paints are some of the companies that have done well on the Nifty. On the other hand, the Consumer Durables index went up 2.6%, the Real Estate Index went up almost 4%, the Auto Index jumped 1.7%, and the FMCG Index went up 3%. On the other hand, the Capital Goods, Power, and PSU indices all went down 2%, and the Metal, IT, and Energy indices all fell more than 1%. The BSE midcap index went up 0.3%, while the smallcap index went down 0.3%.
Mahendra Kumar Jajoo, CIO - Fixed Income, Mirae Asset Investment Managers (India)
The budget is expected to provide a major boost to consumption with the massive reliefs on income tax front for the lower and middle class. At a time when the economic moment was slowing down and incremental capex was beginning to generate a declining multiplier factor on the margin, as was desired by most analysts, budget has delivered this mega booster for renewed consumption boost.Along with sustained capex, economy is expected to regain the lost momentum in quick time. Continuing to adhere to the guided fiscal consolidation path even while providing tax relief is another positive feature which should help improve India's rating upgrade prospect. RBI is also likely to take note of the same and a progressively more accommodative monetary policy is to be expected in the near term.
Market Close | Sensex, Nifty end flat amid Budget-day volatility; realty, FMCG shine
Indian equity indices ended flat in the volatile session on February 1 (Budget day).At close, the Sensex was up 5.39 points or 0.01 percent at 77,505.96, and the Nifty was down 26.25 points or 0.11 percent at 23,482.15. About 2001 shares advanced, 1752 shares declined, and 121 shares unchanged.
L&T, Bharat Electronics, Power Grid Corp, Grasim Industries, Cipla are among the top losers on the Nifty, while gainers included Trent, Maruti Suzuki, Tata Consumer, Eicher Motors, Bajaj Auto.
Among sectors, Consumer Durables index was up 3 percent, realty index added 3.3 percent, auto index jumped 1.9 percent, Media index up 2 percent and FMCG index rose 3 percent. On the other hand, capital goods, power, PSU indices shed 2-3 percent and metal, IT, energy down 1-2 percent.
BSE midcap index shed 0.5 percent, while smallcap index added 0.3 percent.
Sensex Today | BSE Oil & Gas index down 1%
BSE Oil & Gas Top Stock Losers (Intra-day)
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| HINDPETRO | 345.15 | -3.63 | 264.74k |
| IGL | 195.05 | -3.37 | 142.39k |
| Oil India | 410.65 | -2.48 | 93.21k |
| IOC | 125.55 | -2.33 | 955.54k |
| Petronet LNG | 308.95 | -2.26 | 29.19k |
| BPCL | 256.25 | -1.9 | 874.41k |
| ONGC | 257.85 | -1.77 | 336.06k |
| Adani Total Gas | 634.00 | -1.48 | 61.09k |
| GAIL | 175.80 | -0.79 | 941.51k |
Brokerage Call | HSBC keeps 'buy' rating on IndusInd Bank, target cut to Rs 1,150
#1 Most metrics remain under pressure, more stress likely to follow#2 Value may only be realised in the medium to long-term
#3 Cut FY26-27 EPS estimates 12-16 percent on expectations of lower loan growth
#4 Pressure on almost all earnings metrics, but at 1x FY26 BV, risk-reward ratio is favourable
Brokerage Call | HSBC keeps 'buy' rating on Sun Pharma, target at Rs 2,280 #1 Lower R&D led to EBITDA margin beat in Q3
#2 Outlook for specialty product sales remains healthy
#3 Next update on Leqselvi (Alopecia Drug) litigation in April 2025
Raghvendra Nath, MD, Ladderup Wealth Management
After a long time, the middle class has a reason to cheer. By moving the tax exemption to Rs.12 lacs, the current income tax proposal is going to leave a lot of money in the hands of the middle class. While the government is foregoing Rs.1 lac crore of Income Tax, we think the increase in consumption can help offset some of the exchequer loss.On the fiscal side a budget estimate of 4.4% is tad on the higher side. I think the government recognizes the recent slowdown and the importance of govt expenditure to maintain the growth momentum.
Bringing the gig workers into its notice, atleast through some medical relief, is a step in the right direction as 1 crore gig workers is a very large segment of the population and also the fastest growing portion of the employment pool. Overall the budget has balanced the large goals of Economic Development and the Social responsibility of the government.
Bringing the gig workers into its notice, atleast through some medical relief, is a step in the right direction as 1 crore gig workers is a very large segment of the population and also the fastest growing portion of the employment pool. Overall the budget has balanced the large goals of Economic Development and the Social responsibility of the government.
Markets@3| Sensex, Nifty flat amid volatility
The Sensex was up 89.02 points or 0.11 percent at 77,589.59, and the Nifty was down 3.60 points or 0.02 percent at 23,504.80. About 1911 shares advanced, 1574 shares declined, and 105 shares unchanged.
NSE Indian Indices Performance
| Index | CMPChg(%) | YTD(%)1 Week(%) | 1 Month(%)1 Year(%) |
|---|---|---|---|
| NIFTY Auto | 23309.90 1.93 | 2.08 5.14 | 0.74 20.60 |
| NIFTY IT | 42042.55 -1.45 | -2.99 -3.40 | -3.07 15.08 |
| NIFTY Pharma | 21309.85 -0.6 | -8.98 -2.57 | -9.16 19.46 |
| NIFTY FMCG | 58449.45 3.1 | 2.90 4.24 | 2.51 5.86 |
| NIFTY PSU Bank | 6236.30 -1.28 | -4.65 1.35 | -4.74 -3.56 |
| NIFTY Metal | 8309.15 -1.08 | -3.94 -1.54 | -3.83 5.30 |
| NIFTY Realty | 951.30 3.25 | -9.60 11.45 | -8.59 12.16 |
| NIFTY Energy | 33189.60 -2.08 | -5.68 -0.22 | -6.32 -10.08 |
| NIFTY Infra | 8255.45 -1.11 | -2.46 0.14 | -2.88 5.49 |
| NIFTY Media | 1613.85 2.13 | -11.22 -1.80 | -11.94 -24.15 |
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