Special Sunday trading session on February first, twenty twenty six, as India’s Union Budget twenty twenty six keeps markets open for a rare weekend event.

Benchmark indices see their worst budget day in years, with Sensex, Nifty fifty and Bank Nifty closing sharply lower after a volatile rollercoaster session.

Sentiment turns bearish as the Finance Minister announces steep hikes in Securities Transaction Tax on futures and options, immediately raising the cost of trading derivatives.

STT on futures is increased from 0.02% to 0.05%, while STT on options premium rises from zero point one percent to zero point fifteen percent, triggering a derating of FnO heavy strategies.

Broader market breadth weakens, with decliners far outnumbering gainers, highlighting widespread risk off behavior across large caps, mid caps and small caps.

Rupee softens against the US dollar and hovers near previous weak levels, adding to concerns around foreign flows and macro stability on a high volatility budget day.

Among large caps, select IT names like Wipro and TCS hold up relatively well, supported by global revenue visibility and a softer rupee backdrop.

Electronics manufacturing and semiconductor linked stocks such as Syrma SGS, Dixon Technologies, Kaynes Technology and Amber Enterprises rally smartly on a sizeable forty thousand crore rupee outlay for electronics component manufacturing.

Big losers emerge in capital market and brokerage stocks including BSE and Angel One, which fall in double digits as markets price in a structural hit to derivative volumes from the STT hike.

Cyclical names in metals, PSU banks and select energy stocks face heavy selling amid worries about growth, rates and risk appetite post budget.

Nifty50 tests key support zones around the twenty five thousand band during intraday panic and attempts a late recovery; resistance remains overhead near the mid twenty five thousand range.

Bank Nifty slides toward critical support in the high fifty seven thousand to fifty eight thousand range, with sixty thousand marked as a major resistance ceiling for any relief rally.

Sectorally, IT and export oriented pockets show relative resilience, while capital markets, some PSU banks and rate sensitive plays underperform sharply.

Budget 2026 reinforces a capex and manufacturing heavy narrative, with large allocations for electronics, infrastructure, defense, renewable energy, carbon capture and nuclear power.

Policy measures include funding for carbon capture and utilization, support for solar and EV ecosystems, push for critical minerals and rare earth corridors, and continued focus on strategic manufacturing.

Commodity markets remain highly active, with gold and silver on MCX seeing sharp intraday declines after a strong prior run, prompting profit booking in precious metals.

Crude oil stays supported by ongoing geopolitical risks even as global growth worries cap upside, keeping energy markets a key macro variable for Indian equities.

Geopolitical tensions, especially in West Asia, continue to influence crude prices and risk sentiment, feeding into India’s inflation and current account narratives.

Technical outlook for the next session highlights crucial support levels on Nifty fifty and Bank Nifty; holding these could spark a short covering bounce, while a breakdown may extend the corrective phase.

The show emphasizes that despite near term pain from the STT hike and derivative repricing, long term themes like manufacturing, defense, infrastructure and energy transition remain structurally attractive.

Traders are urged to reassess position sizing and strategy in light of higher transaction costs in FnO, while investors are encouraged to focus on sectors directly benefiting from budget allocations.

Listeners are invited to send in questions on today’s budget moves, STT impact, sector outlook and technical levels, and to tune in for the next morning’s update on how markets digest this landmark budget day.

Indian markets closed lower amid pre-Budget caution, with Nifty fifty, Sensex, and BankNifty all ending in the red and overall sentiment staying muted.

Traders stayed on the sidelines ahead of the Union Budget, leading to profit booking in recent outperformers and selective buying in defensives and quality large caps.

The Indian rupee hit a fresh intraday record low near ninety two against the US dollar before recovering slightly, raising concerns about imported inflation and FII outflows.

Consumer and defensive names outperformed, with stocks like Nestle India, Tata Consumer, Apollo Hospitals, ITC, Vodafone Idea, and Blue Star among the key gainers.

Metals, select banks, and a few mid and small caps saw sharp selling, with steep declines in names like Tata Steel, South Indian Bank, Max Healthcare, Hindustan Copper, and some PSU-linked counters.

Nifty fifty hovered in a range with important support zones highlighted around the twenty five thousand to twenty five thousand one hundred fifty region and resistance near twenty five thousand four hundred to twenty five thousand six hundred.

BankNifty faced selling pressure but held key supports around the high fifty nine thousand levels, with resistance seen close to the sixty thousand to sixty thousand two hundred band.

Sector-wise, IT and banking underperformed, while pharma and FMCG showed relative strength as investors gravitated toward defensives ahead of key policy announcements.

Recent regulatory and macro signals, including governance-focused measures and growth projections in the Economic Survey, kept focus on market transparency, long-term GDP outlook, and fiscal discipline.

In commodities, domestic gold and silver prices eased from recent highs, while crude oil stayed firm on geopolitical tensions and supply concerns, adding to the macro headwinds for India.

Global geopolitical tensions and risk-off sentiment, including worries around Middle East developments and trade-related uncertainty, influenced risk appetite and supported the stronger dollar.

The technical outlook suggests a consolidation phase for both Nifty fifty and BankNifty ahead of the Budget, with elevated volatility expected around key support and resistance levels.

The podcast highlights a tactical approach for traders: use dips toward strong supports to accumulate quality names, stay cautious in weaker sectors like IT, and watch for Budget-driven catalysts in financials and cyclicals.

Listeners are encouraged to stay disciplined amid volatility, track upcoming policy announcements closely, and tune in regularly for fresh technical levels and actionable trading insights.

• Wall Street ended mixed overnight: the Dow inched higher, while the S&P 500 and Nasdaq slipped as investors reacted to a sharp tech selloff led by Microsoft’s post‑earnings plunge and heavy AI spending plans.

• Meta and IBM were among the bright spots, rallying on strong results and upbeat guidance, partially offsetting pressure from software and broader tech weakness.

• Fed policy remained steady, with rates unchanged and traders focused more on earnings than on macro or inflation data in this session.

• Indian ADRs showed a split screen: Infosys fell about 1 percent in line with global tech weakness, while HDFC Bank and ICICI Bank gained modestly and Reliance closed flat, signaling relative strength in financials versus IT.

• Across Asia, the Nikkei and Shanghai indices traded higher on previous‑session closes, supported by chip and metal names, while the Hang Seng slipped as Hong Kong financials and tech lagged.

• Gift Nifty futures hovered near twenty‑five thousand four hundred sixty, down around a fifth of a percent, pointing to a cautious, slightly negative start for Indian benchmarks ahead of the Budget.

• RBI has moved to inject over two lakh crore rupees of liquidity through a mix of variable rate repo, FX swap, and bond purchases, creating a supportive backdrop for banks and rate‑sensitive sectors.

• Foreign investors have continued net selling in January, but strong domestic institutional buying has cushioned indices and helped Nifty defend key support zones.

• On the technical side, Nifty fifty is seen with immediate support around twenty‑five thousand two hundred fifty to twenty‑five thousand three hundred and resistance in the twenty‑five thousand five hundred to twenty‑five thousand six hundred band, while Bank Nifty eyes sixty thousand as a key ceiling.

• Commodities are consolidating after big moves: gold and silver have cooled from recent peaks but remain elevated on geopolitical tensions, crude oil trades near the mid‑sixties per barrel, and natural gas is slightly softer on moderating demand.

• Overall theme for the day: global tech tremors, an RBI liquidity backstop, and a mildly weak cue from Gift Nifty suggest traders should stay selective, lean on quality financials, respect nearby resistance levels, and be prepared for volatility around geopolitics and Budget‑related expectations.