Stock market today: The Indian stock market closed on a flat note after FM Nirmala Sitharaman presented her 8th consecutive Budget speech on Saturday. Sensex rose 5 pts to 77,506 and Nifty fell 26 pts to 23,482. Market cap of the BSE-listed firms stood at Rs 423.76 lakh crore today. Of 30 Sensex stocks, 16 shares ended in the green.
Zomato, Maruti Suzuki, ITC Hotels, ITC, M&M, Asian Paints, Titan, IndusInd Bank and Bajaj Finance were the top Sensex gainers rising up to 7.17%.
Consumption related stocks saw a stellar rally on Saturday after FM Nirmala Sitharaman said that no income tax will be payable on income up to Rs 12 lakh under the new tax regime.
Shares of Blue Star, Whirlpool of India, Swiggy, Kalyan Jewellers, Zomato, ITC, HUL and Crompton Greaves shares rose up to 8% on BSE. The BSE consumer durables index zoomed 1054 pts to 58,906 after the Budget speech. Nifty consumer durables index too rose 1,100 pts intra day to 38,693 against the previous close of 37,591.
On similar lines, insurance stocks rose up to 7% after after FM Nirmala Sitharaman said FDI limit in the insurance sector has been hiked to 100% from the current limit of 74%. The change in FDI limit applies to those insurers who invest their entire premium in India.
ICICI Lombard General Insurance Company stock climbed 2.62 per cent to Rs 1906.55 on BSE. Shares of ICICI Prudential Life Insurance Company climbed 4.23% to Rs 642.70. HDFC Life Insurance Company Ltd surged 4.56 per cent to Rs 667.25 on BSE.
SBI Life Insurance Company stock gained 2.86% to Rs 1526.85. Life Insurance Corporation of India added 2.86 per cent to Rs 869.65. Shares of Star Health also zoomed 6.73% to Rs 462.75 on BSE.
Realty stocks such as DLF, Sobha Ltd, Oberoi Realty, Prestige Estates, Phoenix Mills and Macrotech Developers rose up to 9% after FM Nirmala Sitharaman in her Budget 2025 speech said taxpayers can claim annual value of two self-occupied properties as "nil" without any condition.
In terms of sectoral action, consumer durables and FMCG stocks capped losses with their BSE indices surging 1,431 pts and 591 pts, respectively.
On the other hand, BSE capital goods, metal and oil and gas indices closed 1,948 pts, 425 pts and 436 pts lower on BSE in absence of major positive announcements in the Union Budget.
BSE midcap and small cap indices fell 212 pts and rose 141 pts, respectively today.
As many as 62 stocks hit their 52-week highs today. On the other hand, 72 shares hit their 52-week lows on BSE.
Of 4,037 stocks traded, 2081 stocks ended in the green on BSE. Around 1,829 shares closed in the red and 127 stocks remained unchanged.
Around 9 stocks hit their upper circuits. On the other hand, 6 shares hit their lower circuit limits.
Market outlook
Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities said, "The underlying trend of Nifty remains positive and the market is facing stiff resistance around 23500-23600 levels. A decisive move above this hurdle could open further upside towards 24000 levels in the near term. Immediate support is placed at 23300 levels."
Vinod Nair, Head of Research, Geojit Financial Services said, "The market has responded to the Union budget with a mixed view, primarily due to the modest 10% YoY increase in capex for FY26, falling short of expectations. Sectors like railways, defense, and infra are affected on which the market relies for the performance, dampening the sentiment. On the other hand, consumption-based sectors, which are expected to benefit the most, had a low effect on the broad market due to their modest market mix position. However, the market will begin to factor in the broader benefits to the economy and corporations over the course of the year due to a rapid increase in disposable income and boost in ease in business."
Ajit Mishra – SVP, Research, Religare Broking said,"The impact of the Union Budget could linger in the next session, particularly in the consumption sectors. The Nifty may remain around its current levels as market participants await the next decisive move above the critical hurdle of 200 DEMA i.e. 22.620 level. Additionally, with the earnings season set to take center stage again, traders should focus on stock selection and align their positions accordingly."
Previous session
Sensex ended 740 pts higher at 77,500 and Nifty climbed 259 pts to 23,508 on January 31.