Nifty 50 Today 2 Feb 2026: Index Erases Gains, Slips 0.05% Amid Post-Budget Volatility

The Nifty 50 index today (2 February 2026) swung intraday, wiping out initial positives to last down ~0.05% near 24,800 levels during early trade on NSE. This follows a brutal 495-point (1.96%) drop to 24,825.45 in the special Budget session on February 1, triggered by a sharp Securities Transaction Tax (STT) hike on F&O to 0.05% from 0.01% sparking the biggest Budget-day fall in 6 years.

Traders digest the fiscal prudence (deficit at 4.3% FY27) against trading cost spikes, with heavyweights like Reliance and SBI dragging. Broader volatility persists as Sensex mirrors the slide, while select infra plays eye ₹12.22 lakh Cr capex boost. Global cues muted with Asian markets mixed; support at 24,570 tested yesterday.

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Key Highlights

• Current Status: Down 0.05% ~12 pts; day's range 24,825–24,900 post 1.96% Friday fall.
• STT Trigger: F&O tax doubled to 0.05%, crashing brokerages; Nifty hit 5-month low 24,571.
• ​Budget Positives: Capex ₹12.22L Cr (+15%), defence ₹7.85L Cr; fiscal deficit 4.3% FY27.
• Sector Watch: Banks, metals weak; IT rebounds slightly amid volatility.

Sources: NDTV Profit, ICICI Direct, Economic Times, Informist Media, Upstox, Moneycontrol.