The Economic Times

Bitcoin slipped to nearly $78,800, down over 6% in 24 hours, as markets reacted to the Fed leadership change and rising geopolitical tensions. Risk-off sentiment deepened after Kevin Warsh was named the next Fed Chair, pressuring major altcoins and dragging global crypto market capitalisation below $2.7 trillion.

India's economic growth is shifting focus from consumption to manufacturing and investment. Structural reforms have boosted consumption selectively. The next phase requires a holistic approach to manufacturing, encouraging entrepreneurship in less developed regions. Attracting domestic and foreign capital through tax reforms is crucial. Income growth driven by manufacturing and exports will sustainably revive consumption.

Budget 2026 Key Announcements for Common Man: Union Budget 2026 has arrived, with Finance Minister Nirmala Sitharaman presenting her ninth consecutive Budget. Continuing the paperless format, she carried the documents on a digital tablet inside a bahi-khata pouch, symbolising a clear break from colonial traditions. Selected students will witness the presentation live and interact with officials, gaining valuable insights into governance and policy-making.

Railway stocks saw a rise on Sunday, February 1. Investors are optimistic about the upcoming Union Budget. Expectations are high for increased government spending on infrastructure, especially railways and transport. This anticipated capital expenditure push is driving the positive sentiment in railway stocks. The budget is expected to focus on projects like high-speed rail and freight corridors.

Finance Minister Nirmala Sitharaman will present the Union Budget for FY27 on February 1, focusing on growth, fiscal discipline, and reforms. Key numbers to watch include the fiscal deficit target, capital expenditure, debt reduction roadmap, borrowing program, tax revenue projections, and nominal GDP growth assumptions.

Sun Pharma shares rose sharply on Sunday after the company reported a 16% YoY rise in Q3 net profit to Rs 3,369 crore, supported by strong India business and improved margins. The firm also declared an interim dividend of Rs 11 per share, further boosting sentiment despite cautious institutional activity.

The Defence Secretary has indicated a potential 20% increase in the FY27 defence budget to maintain operational readiness and strengthen self-reliance amid ongoing global tensions.

Metal stocks tumbled on Budget Sunday as gold, silver and copper prices slumped, dragging Hindustan Copper down 19% and knocking the Nifty Metal index lower. The sell-off followed a sharp correction in commodities triggered by a stronger dollar and market jitters after Donald Trump named Kevin Warsh as his pick for the next US Federal Reserve chair.

Budget 2026 simplified: Finance Minister Nirmala Sitharaman presented the Union Budget 2026. The budget outlines the government's economic roadmap. Key themes include inclusive development and accelerating growth. The budget focuses on the poor, youth, farmers, and women. It also details fiscal deficit targets and capital expenditure plans. Taxpayer information and MSME support measures are also highlighted.

2026 Budget at a Glance PDF: As Union Budget 2026-27 approaches, focus is on potential tax reforms and regulatory simplification. Last year's budget prioritized infrastructure, employment, MSME support, manufacturing, agriculture, green growth, digital infrastructure, urban development, human capital, and social protection. Taxpayers and industry leaders anticipate further measures to encourage private investment following a year of consolidation-led policymaking.

Market expert Sandip Sabharwal anticipates the upcoming Union Budget will maintain the status quo, with no major reform surprises due to geopolitical uncertainties and foreign fund outflows. He stresses the urgent need to address FPI outflows and tax-related concerns to restore investor confidence and financial stability.

Indias goods and services tax (GST) collections reached 1,93,384 crore in January, up 6.2% from the same month last year, the government said on Sunday, supported by strong domestic activity and healthy growth in import revenues.

Union Budget 2025-26, framed around Viksit Bharat, prioritized agriculture, MSMEs, and human capital investment. It focused on growth acceleration, welfare, structural reforms, and fiscal discipline, with significant allocations for infrastructure and state development. Key initiatives included agricultural modernization, MSME credit expansion, and enhanced spending on education, healthcare, and urban infrastructure.

Bank of Baroda reported a 4.39% rise in Q4 net profit to Rs 5,443 crore, driven by reduced provisions. Despite a 15% loan growth, net interest income saw minimal growth due to margin compression. The bank anticipates exceeding its FY26 loan growth target and aims to improve its Net Interest Margin.

Budget 2026 Rupee Source and Spending: Finance Minister Nirmala Sitharaman will outline revenue sources and expenditure plans amidst global geopolitical tensions. The budget aims to maximize every rupee earned and spent to propel India towards its goal of becoming the world's third-largest economy by 2030.

Gold and silver extended their steep selloff on MCX, with futures sliding 6% and gold ETFs crashing up to 16% as a surging US dollar and profit-taking hit sentiment. In the previous session, silver plunged as much as 27% (Rs 1,07,968), marking its biggest single-day crash ever and pulling prices back below the Rs 3 lakh markjust a day after the metal had surged to a record high of Rs 4 lakh.

Indian stocks saw mixed trading ahead of the federal budget. Investors watched for signals on public spending and support for export sectors. Metal stocks faced selling pressure. Experts anticipate a growth-oriented budget with potential focus on exports and defense. Global markets experienced declines. FIIs were net buyers while DIIs were net sellers.

Budget 2026 Key Takeaways: Finance Minister Nirmala Sitharaman presented the Union Budget 2026 today, outlining the government's economic direction for the fiscal year. Key announcements included significant changes to the income tax structure, with no tax up to Rs 12 lakh income in the new regime. The budget also focused on spurring agricultural growth, boosting manufacturing, and supporting MSMEs.

As Finance Minister Nirmala Sitharaman presents the Union Budget 2026, top brokerages have flagged 11 technical stock picks amid expectations of easing volatility. Analysts from Geojit Investments, Axis Direct, and MarketSmith India highlight opportunities across sectors, including BSE, TVS Motor, Ashok Leyland, and Bharat Electronics.

Gold and silver futures saw a sharp decline on MCX on February 1. This follows a significant drop on Friday. Profit-taking and a stronger US dollar are driving the correction. The MCX is trading on Sunday for the Union Budget 2026 presentation. Import duty changes could impact local prices.

As India braces for its Union Budget, market participants are keenly observing policy measures to curb capital outflows and boost investor confidence. Edelweiss Mutual Fund CEO Radhika Gupta expressed caution, highlighting global uncertainties and tariff threats. She anticipates a focus on capital expenditure in defence, infrastructure, and manufacturing, alongside job creation and technology sectors.

Hindustan Copper shares: A sharp 3.4% drop in global copper prices on the LME has dampened sentiment across metal stocks, raising concerns about near-term impact on the companys performance.

Meesho shares are likely to stay in focus during the special Sunday trading session after the company reported sharply wider Q3FY26 losses despite strong revenue and operating growth. Higher advertising spends and margin pressure weighed on profitability, even as user growth, order volumes, and cash flow generation highlighted continued focus on long-term expansion.

Indian equity markets are showing signs of recovery after a challenging period, with Rakesh Vyas of Quest Investment Managers anticipating a revival in corporate earnings. He highlights opportunities in mid and smallcap stocks, particularly within BFSI, consumer discretionary, and power sectors, driven by government stimulus and improving consumption.

IFCI shares may draw attention in the special Budget session after SEBI granted clearance for NSEs long-awaited IPO. IFCI holds indirect exposure through its majority stake in SHCIL, which owns shares in NSE, making the stock sensitive to developments around the exchanges proposed listing and investor sentiment closely.

Amidst global volatility and stretched valuations, Indian equities are experiencing sharp polarization. Investors are advised to favor large-cap stocks for their attractive risk-reward profile. While India's long-term growth story remains strong, near-term returns may be muted due to geopolitical uncertainty and FII outflows.

Investors are watching the Union Budget for fiscal consolidation and growth spending. Analysts recommend buying quality stocks on dips, especially in infrastructure, defence, power, and housing. Key themes include sustained public capex, targeted support for rural demand, and thrust on renewables. Companies in these sectors are expected to benefit from government initiatives and policy continuity.

We have collated a list of recommendations from top brokerage firms from ETNow and other sources.

MCX shares are in focus as Indias commodity exchange opens for a rare Sunday trading session alongside the Union Budget, as gold and silver prices suffer a sharp global sell-off amid dollar strength and shifting expectations around US Federal Reserve leadership.

St. Louis Fed President Alberto Musalem stated that the US central bank should not cut interest rates further unless the job market weakens or inflation drops. He believes the current policy rate is neutral, with the economy poised for above-trend growth.

US Federal Reserve's Michelle Bowman still favors interest rate cuts, but voted to hold steady for more data. She anticipates three quarter-percentage-point reductions this year, emphasizing a measured pace. Despite a fragile job market, stabilization signs allow for a brief pause to assess policy impact before further easing.

Japanese Prime Minister Sanae Takaichi highlighted export benefits from a weaker yen, contrasting with Finance Minister Satsuki Katayama's intervention threats. While Takaichi sees opportunities for industries like food and automobiles, the yen's decline fuels inflation and prompts central bank rate hike signals. Investor concerns over Japan's finances are evident as bond yields hit record highs.

Hindustan Zinc shares will be in focus later today after silver experienced its largest single-day drop on record. The white metal plunged significantly on MCX and internationally, impacting the Vedanta subsidiary's stock. This decline follows a strong rally and a recent Offer For Sale by its promoter.

As long as the stock is priced above the 200-day SMA on the daily timeframe, it is generally considered to be in an overall uptrend.

Over the last 15 years, Sensex and Nifty have shown a mixed but slightly positive record on Budget days, with average gains of 0.35% for Sensex. While intraday volatility is common, the market tends to perform better in the weeks and months following the budget announcements, indicating a positive bias for investors who stagger purchases.

As Finance Minister Nirmala Sitharaman prepares the Union Budget for FY2026-27, a core team of senior bureaucrats is shaping its fiscal strategy. Anuradha Thakur, Arvind Shrivastava, Vumlunmang Vualnam, M Nagaraju, Arunish Chawla, K Moses Chalai, and V Anantha Nageswaran are key figures. Their work involves taxation, expenditure, disinvestment, and financial sector policy.

Investors are now selling American assets. This trend began after tariffs caused market turmoil. Recent policies from the Trump administration are causing renewed investor worry. This shift is leading to a weaker U.S. dollar. Gold and silver prices have reached record highs. The U.S. stock market has stalled. International investors are seeing a significant change in investment dynamics.

Union Budget 2026 Highlights: Finance Minister Nirmala Sitharaman presents the Union Budget today, February 1, 2026. Taxpayers, businesses, and markets await announcements for FY27. Expectations are high for tax relief, spending priorities, and growth measures. The budget follows last year's focus on middle-class tax relief, capital spending, manufacturing, and jobs.

India's Union Budget for FY2026-27 is projected at Rs 54.1 lakh crore, a 7.9 per cent increase. This signals a calibrated fiscal consolidation path. The fiscal deficit is targeted at 4.16 per cent of GDP. Strong real economic momentum supports this budget. GST reforms are boosting urban demand and growth.

Indian stock markets anticipate a positive opening today. Investors await the federal budget presentation for insights into government spending and support for export sectors. The budget aims to balance growth initiatives with fiscal discipline. Expectations are for measures to boost domestic manufacturing and rural demand. This could provide a much-needed boost to equities after a challenging start to the year.

Bitcoin experienced a significant decline, falling 6.53% to $78,719.63 on Saturday, continuing its downward trend. This drop follows concerns that a potential new Fed chair might tighten liquidity, impacting speculative assets like cryptocurrencies. Ether also saw a substantial fall, reflecting broader struggles in the crypto market.

Budget 2026: The government is likely to aim for a fiscal deficit at 4.2% of GDP for 2026-27, down from 4.4% this fiscal year. Gross borrowing is expected to rise to between Rs 16 lakh crore and Rs 16.8 lakh crore ($174 billion-$183 billion) from Rs 14.6 lakh crore this year.

ITC's market value has dropped significantly following a recent tax hike on cigarettes. Investors are now looking to the upcoming Budget for clarity on future taxation. While the core business shows resilience, near-term pressure on volumes and margins is expected. The company's diversified operations offer a buffer against these challenges.

Indian stock markets approach the Union Budget 2026 with caution, facing a fragile footing and weak sentiment. Analysts anticipate a low-key budget, emphasizing fiscal discipline, continuity in capital gains taxation, and visible capital expenditure to steady nerves and maintain market engagement.