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Post-Budget Session: Bulls Push Sensex Up By Over 900 Points, Nifty Reclaims 25,000
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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
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Ferrari technicians inspect supercars on the production line inside the company’s factory in Maranello, Italy, October 2, 2025. REUTERS/Remo Casilli/File Photo
Remo Casilli | Reuters
DETROIT — Ferrari on Tuesday beat Wall Street’s first-quarter earnings expectations and reconfirmed its guidance for the year, weeks ahead of the sports car maker revealing its first all-electric vehicle.
Here’s how the company performed in the first quarter compared with average estimates compiled by LSEG:
- Earnings per share: 2.33 euros (US $2.72) adjusted vs. 2.27 euros expected
- Revenue: 1.85 billion euros vs. 1.81 billion euros expected
Ferrari’s revenue was up more than 3% compared with 1.79 billion euros during the first quarter of 2025, while its operating profit and adjusted earnings increased 1.1% and 4.2% year-over-year, respectively.
The company’s 2026 guidance includes 7.5 billion euros in net revenues and an adjusted operating profit of at least 2.22 billion euros, or 9.45 euros adjusted EPS. Its industrial free cash flow is targeted at 1.5 billion euros or more for the year.
Those results were despite deliveries being down 4.4% year-over-year to 3,436 units, as the sports car maker said it slowed production to “ease the execution of the planned model change-over.”
The company said deliveries “were not impacted by the surge of hostilities in the Middle East, as Ferrari leveraged its geographical allocation flexibility, bringing forward certain deliveries to other regions.”
Ferrari’s results come weeks before the scheduled debut of the Luce, its first fully electric vehicle, on May 25.
“With only twenty days to the world premiere of the Ferrari Luce, the sense of anticipation has never been so high. The Ferrari Luce brings together so much extraordinary technologies and the passion of so many people. It is the evidence of how tradition and innovation can come together to create something unique,” Ferrari CEO Benedetto Vigna said in a statement Tuesday.
Business
India among most resilient large EMs, better placed for future global shocks; policy reforms & strong buffers help: Moody’s – The Times of India
Amid the ongoing Middle East conflict, a recent report by Moody’s Ratings says that recent global shocks have shown India’s resilience among emerging economies to withstand pressures. The report credits the resilience to timely policy measures and the buildup of robust buffers.“India and Thailand are the sovereigns better placed to manage future global shocks. In both cases, the key policy choices that support stability were made well before the recent stress period,” Moody’s says.In its latest study on emerging-market sovereigns, the agency notes that India has ranked among the more resilient economies since 2020, based on multiple indicators such as sovereign bond spreads, domestic yield movements, and exchange-rate stability.The report highlights the following points of strength:Monetary policy frameworks are clear and predictable, inflation expectations are better anchored, and exchange rates are allowed to adjust when needed. This reduces the risk that currency moves turn into persistent inflation or force abrupt policy shifts.
Both countries should also enter future periods of stress with strong and accessible buffers. India’s reliance on domestic funding is balanced by deep local markets and sizeable reserves, the report says.However it notes that India’s relatively high debt burden and weak fiscal balance limit the amount of space available to respond to successive shocks, while Thailand’s rising debt burden risks reducing resilience over time.The report points out that India has consistently demonstrated notable strength during periods of global volatility. Movements in credit spreads have been limited and short-lived, currency depreciation has remained controlled, and fluctuations in local bond yields have been orderly. These factors have helped the country retain uninterrupted access to financial markets even during turbulent phases.
It underscores the role of India’s sizeable foreign-exchange reserves, which have helped stabilise the currency and maintain investor confidence during episodes of global stress, setting it apart from more vulnerable peers.Another key factor has been the presence of a transparent and consistent monetary policy framework. The adoption of inflation targeting well before recent global disruptions has ensured that inflation expectations remain anchored, thereby improving the economy’s ability to absorb external shocks.When compared with relatively more fragile economies such as Türkiye, Argentina and Nigeria, India has largely managed shocks through adjustments in prices rather than prolonged financing stress. This has been supported by deeper domestic financial markets and stronger policy credibility.
Rupee tumbled to a record low of 95.40 against US dollar in early trade on Tuesday, falling another 17 paise after already ending the previous session at its weakest-ever closing mark. Previously on Monday, the currency had declined sharply by 39 paise to close at 95.23 against the greenback.This comes as global uncertainty continues to be fueled by intensifying Middle East tensions, dragging down financial markets. Crude oil prices have remained elevated, intensifying concerns around inflation and slowing economic growth. During Monday’s trade, rupee opened at 94.95 in the interbank foreign exchange market before sliding throughout the session to settle at 95.23.The cautious sentiment was reflected on Dalal Street as well as benchmark indices tumbled in red. BSE Sensex was trading at 77,090.12, down 179.28 points or 0.23% as of 9:40 am. NSE Nifty50 also dipped to 24,036.95, down 63.85 points or 0.26%.Dilip Parmar, Senior Research Analyst, HDFC Securities told PTI, “The Indian rupee has hit a record low as the dollar recovered and crude oil prices held firm. This ongoing surge in oil prices, combined with foreign fund outflows, is putting a visible strain on India’s trade balance and broader economy. Persistent dollar demand is expected to keep the pressure on the rupee in the short term, driving the USD/INR higher toward the 95.35 and 95.70 levels.“Foreign Institutional Investors remained net buyers in equities worth Rs 2,835.62 crore on Monday, based on exchange figures. In the commodity market, oil prices continued to soar. Crude oil prices were trading at nearly $113 per barrel on May 5 as fresh attacks in the Strait of Hormuz heightened fears over the stability of the US-Iran ceasefire.
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