On February 2, 2026, India’s Nifty 50 index (.NSEI) reversed early losses to trade 0.1% higher, reflecting cautious optimism among investors. Gains in banking, IT, and energy stocks supported the recovery, while global cues and Budget 2026 reactions shaped sentiment. At 11:00 AM IST, Nifty hovered near 24,700 points.
India’s benchmark Nifty 50 index (.NSEI) turned positive on February 2, 2026, after a volatile morning session, last seen up 0.1% around 24,700 points at 11:00 AM IST. The rebound comes as investors digest the fine print of Union Budget 2026, which introduced higher Securities Transaction Tax (STT) on derivatives, sparking initial sell-offs.
Key Highlights:
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Index performance: Nifty 50 edged up 0.1%, reversing earlier declines, supported by selective buying in banking and IT stocks.
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Sectoral movers: Energy and pharma counters showed resilience, while FMCG and auto stocks remained under pressure.
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Global cues: Asian markets traded mixed, while U.S. bond yields and dollar strength kept investors cautious.
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Budget impact: The hike in STT for futures and options weighed on sentiment, but expectations of continued government spending in infrastructure and green energy provided support.
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Market timing: At 11:00 AM IST, the Sensex was down 224 points at 80,049, while Nifty managed to stay marginally positive.
Outlook:
Analysts expect near-term volatility as investors balance policy changes, global cues, and corporate earnings, but India’s strong fundamentals may sustain medium-term momentum.
Sources: Reuters, Business Standard, Economic Times Markets, Mint Business