Business
Post-Budget Session: Bulls Push Sensex Up By Over 900 Points, Nifty Reclaims 25,000
Last Updated:
The BSE Sensex is trading higher by 371 points, or 0.47%, at 81,090.24, while the NSE Nifty rises by 70 points to trade above 24,850 at 24,889.25.
Stock Market Today.
Market Updates Today: A day after the market crash following the Budget’s provision to hike Securities Transaction Tax (STT), the domestic equity market on Monday saw heightened volatility. After opening nearly flat, the NSE Nifty rose to the day’s high, then touched the day’s low before sharply recovering to trade at the day’s high of 25,093.
As of 3:16 pm, the BSE Sensex surged by 932 points, or up 1.13%, to 81,641.87 in the afternoon trade and the NSE Nifty rose by 267 points, or up 1.07%, to trade above 25,000 at 25,093.27. After opening nearly flat, the NSE Nifty rose to the day’s high, then touched the day’s low before sharply recovering to trade at the day’s high of 25,093.27.
Among the 30 Sensex shares, 25 stocks were trading in the green. Among the top gainers were PowerGrid, Adani Ports, BEL, Reliance, Mahindra & Mahindra, Larsen & Toubro, and IndiGo, rising by up to 7.91%. The laggards were Axis Bank, Infosys, Titan, TCS, and Trent, falling by up to 1.97%.
After opening nearly flat, at around 9:30 am, the BSE Sensex jumped by 350 points to 81,112.03 in the opening trade, while the NSE Nifty rose 91 points to trade above the 24,900 level at 24,910.85. However, the benchmarks gave up all gains and declined to day’s low amid heavy volatility.
Aakash Shah, technical research analyst at Choice Equity Broking Private Ltd, said, “Near-term sentiment remains cautious despite some support from domestic technical indicators. The broader market direction will largely be influenced by global equity cues, crude oil price movements, and institutional fund flows.”
On Sunday, the Nifty saw an aggressive sell-off after the Budget 2026 announcement to hike STT, plunging nearly 870 points from 25,440 to an intraday low of 24,571, before staging a partial recovery to close at 24,825.
“A strong bearish candle was formed, with the index closing decisively below the 200-day EMA, indicating a deterioration in trend strength. Immediate resistance is placed at 24,950–25,000, while key support lies in the 24,650-24,700 zone. The RSI slipped to 31, reflecting oversold conditions, while India VIX surged 10.73% to 15.09, highlighting elevated market volatility,” Shah said.
On Sunday, February 1, foreign institutional investors (FIIs) sold equities worth Rs 588 crore, while domestic institutional investors (DIIs) also remained net sellers, offloading shares worth Rs 682 crore, adding to the pressure on the market.
V K Vijayakumar, chief investment strategist at Geojit Investments Ltd, said, “Yesterday’s market selloff resulting in 495 point crash in Nifty was a knee-jerk reaction to the sharp increase in STT on F&O trades. This was not a revenue-raising measure, but a decision to discourage retail traders from complex F&O trading, in which 92% of them were losing money. This decision is in the interest of retail investors. But this decision impacted the market sentiments, which were already impacted by the decision to make no changes in the LTCGs tax, which a section of the market was expecting rather unrealistically.”
It is important to understand that the Budget is a growth-oriented Budget with fiscal prudence. The 10% nominal GDP growth projected in the Budget is achievable and has the potential to deliver around 15% earnings growth in FY27. The market will soon start discounting this positive. But it is possible that FIIs may continue to sell impacting the market. Retail investors should keep their cool and remain invested and continue to invest systematically. A significant upturn in the market may take time; perhaps a retreat from AI trade globally. We don’t know when this will happen. But we know that an earnings rebound is imminent in response to this growth oriented Budget. That is a clear positive, he added.
February 02, 2026, 09:34 IST
Read More
Reopening the Strait of Hormuz is “the best thing to do” to prevent interest rates rising, Bank of England governor Andrew Bailey has said.
In an interview on Thursday evening after the Bank’s Monetary Policy Committee (MPC) voted unanimously to leave the rate unchanged at 3.75%, Mr Bailey said any further cuts are “not on the horizon” as he hinted at possible hikes.
It is the first time that all members have voted the same way since September 2021.
Iran effectively closed the vital oil and gas shipping route after the US and Israel attacked the country, which has pushed up global prices.
Mr Bailey said the war in the Middle East is hitting petrol pumps now, will likely increase household energy costs in summer, and put pressure on food prices.
He told LBC’s Andrew Marr: “The duration of this problem is crucial.
“I would also say very clearly that the best way to solve this situation is not through monetary policy. It is through sorting out at the source of what’s going on.
“Frankly, reopening the Strait of Hormuz is the best thing to do. Get the energy market back on its normal footing, as it were.”
Asked if he has a message for US President Donald Trump, Israeli Prime Minister Benjamin Netanyahu, and “whoever’s in charge in Tehran”, Mr Bailey said: “The best thing we can do actually for the world economy… is to sort out the problem in terms of reopening the energy supply lines, because that is in the best interest of people in the world.”
UK military planners have joined the US Central Command to help formulate proposals for opening the Strait.
The MPC now expects Consumer Prices Index inflation to be around 3% in the second quarter of 2026, up from the 2.1% that had been forecast in February, with a potential rise in inflation up to 3.5% in the third quarter.
Mr Bailey was asked if he foresees, in the final two years of his term, the ambition to reduce inflation to at or below 2% being fulfilled.
He told the programme: “If you’d asked me this question three weeks ago, I was very optimistic on this.”
The governor added: “We are fully committed to the inflation target, and our job, frankly, is to deal with the shocks as they come along.
“I have to do that. I don’t wish them. I wish they were not happening, but they are and we will have to deal with them.”
He said the impact of the war will likely feed through into a higher Ofgem energy price cap from July.
It was put to Mr Bailey that the Middle East crisis comes at a time when the UK economy has already “not been growing strongly”.
He responded: “It is a very difficult time to have this happen, but frankly, any time would be pretty difficult to have this happen.
“This is a major shock to energy prices, and we have to deal with it.”
He said the “sustainable rate of growth” in the UK needs to be raised which could come from investment from pensions and artificial intelligence.
“I’m not starry-eyed about it, but it is probably the most likely area that we’re going to raise the growth rate of the economy and that’s important”, he said of AI.
The MPC signalled that if the conflict persists and has a bigger impact on UK prices, it would need to take a “more restrictive policy stance”, which indicates higher interest rates to control inflation.
The governor added: “The longer it goes on… I’m afraid to say, but it is rather an obvious point, the effect will be larger.”
He said that is why it is “imperative” that “everything is done that can be done to alleviate this effect”, adding: “That is the critical thing.”
new video loaded: The Effects of High Oil Prices
By Ben Casselman, Sutton Raphael, James Surdam, Joey Sendaydiego, Estelle Caswell and June Kim
March 19, 2026
Business
FDA approves higher dose version of weight loss drug Wegovy as Novo Nordisk tries to win back market share
The logo of pharmaceutical company Novo Nordisk is displayed in front of its offices in Bagsvaerd, Copenhagen, Denmark, Feb. 4, 2026.
Tom Little | Reuters
The Food and Drug Administration on Thursday approved a higher-dose version of Novo Nordisk‘s blockbuster weight loss injection Wegovy, as the company pushes to win back market share from chief rival Eli Lilly.
Novo expects to launch the higher, 7.2-milligram dose of Wegovy in April. The Danish drugmaker is positioning that version to better compete with Lilly’s obesity drug Zepbound, which has proven to be more effective at promoting weight loss than the standard, 2.4-milligram dose of Wegovy.
That higher efficacy has helped Zepbound become the preferred obesity medication among prescribers and patients, even though it entered the U.S. market later than Wegovy, and has solidified Lilly’s position as the dominant player in the space.
The high-dose Wegovy helped patients with obesity lose an average 20.7% of their weight after 72 weeks in a phase three trial. The standard dose of Wegovy has shown around 15% weight loss on average in clinical trials.
“I think it really makes it more competitive, and it really reduces the delta there,” Dr. Jason Brett, principal U.S. medical head at Novo Nordisk, said in an interview Thursday ahead of the approval.
“But even more importantly, I think it just gives patients another option if they’re not reaching their targets, and achieving some of these higher weight losses for certain patients,” he added.
In a separate phase three trial on patients with obesity and Type 2 diabetes, high-dose Wegovy demonstrated an average weight loss of 14.1%. People with diabetes typically have a harder time losing weight than people without the condition.
It marks the first approval of a GLP-1 treatment under the FDA’s new national priority voucher plan that aims to cut drug review times to one to two months for companies the agency says are supporting U.S. national health priorities. The FDA launched the pilot plan in June.
Enzo Fernández ‘completely committed’ to Chelsea – Liam Rosenior
What happened to Chuck Norris? Actor rushed to hospital in Hawaii
Lionel Messi scores 900th goal, but Miami bounced from CCC
Stock market crash today (March 12, 2026): Nifty50 opens below 23,600; BSE Sensex down over 900 points on continuing US-Iran war – The Times of India
UK’s Topshop unveils Tolu Coker capsule collection
US ignites Iran war, but Gulf Arab states pay the price | The Express Tribune
-
Business1 week ago
Stock market crash today (March 12, 2026): Nifty50 opens below 23,600; BSE Sensex down over 900 points on continuing US-Iran war – The Times of India
-
Fashion1 week agoUK’s Topshop unveils Tolu Coker capsule collection
-
Business1 week ago
US ignites Iran war, but Gulf Arab states pay the price | The Express Tribune
-
Fashion1 week agoIndia’s textile recycling market may reach $3.5 bn by 2030: Report
-
Tech1 week agoMeta Developed 4 New Chips to Power Its AI and Recommendation Systems
-
Business1 week ago8th Pay Commission: How Much Will Central Govt Employees’ Salaries Rise? What We Know So Far
-
Sports1 week agoBangladesh crush Pakistan in ODI series opener | The Express Tribune
-
Entertainment1 week agoGas, food, household prices explained