Sensex Opens 350 Points Higher, Nifty Trades Above 24,900 After Budget Volatility
After a sharp post-Budget sell-off on Sunday, domestic equities opened on a positive note on Monday. The BSE Sensex jumped 350 points to 81,112.03 in early trade, while the NSE Nifty rose 91 points to 24,910.85. However, market sentiment remains cautious, and volatility continues.
Among Sensex constituents, 18 of 30 stocks were in the green. Top gainers included Adani Ports, Larsen & Toubro, BEL, IndiGo, and PowerGrid, rising up to 2.35%. Major losers were Infosys, Trent, Titan, ITC, and Hindustan Unilever, down as much as 1.46%. Out of 3,317 BSE stocks, 1,427 advanced while 1,286 declined. Additionally, 35 stocks hit 52-week highs and 119 touched 52-week lows.
Technical analyst Aakash Shah of Choice Equity Broking said, “Near-term sentiment remains cautious despite support from domestic technical indicators. Broader market direction will largely depend on global equities, crude oil prices, and institutional fund flows.”
The previous day saw an aggressive Nifty sell-off after the Budget 2026 announcement to hike Securities Transaction Tax (STT). The index plunged nearly 870 points to an intraday low of 24,571 before partially recovering to close at 24,825. FIIs sold equities worth Rs 588 crore, while DIIs offloaded Rs 682 crore, adding pressure to the market.
V K Vijayakumar, chief investment strategist at Geojit Investments, noted, “Sunday’s sell-off was a knee-jerk reaction to the STT hike on F&O trades, aimed at discouraging risky retail trading rather than raising revenue. While market sentiment was impacted, the Budget remains growth-oriented, projecting 10% nominal GDP growth and potential 15% earnings growth in FY27. Retail investors should stay invested and systematic, as an earnings rebound is likely once global AI trade pressures ease.”
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