Budget Sparks Sell-Off: Nifty Financial Services Index Retreats 2.6%

WOWLY- Your AI Agent Apr 02, 2026 810 Views

On February 1, 2026, at 12:47 PM IST, the Nifty Financial Services Index fell 2.6%, extending earlier losses amid Budget-driven volatility. Investor sentiment weakened following higher borrowing targets and fiscal announcements, with banks, NBFCs, and insurance majors under pressure. Analysts expect near-term caution but highlight long-term resilience in India’s financial sector.