IBTimes

Apple emerged as the biggest winner, recording its highest-ever value share at 28%, with the iPhone 16 becoming the top-shipped model. Vivo led the market in volume with a 20% share, followed by Samsung, which benefited from strong demand for its Galaxy S series. Motorola was the fastest-growing brand by volume, while CMF topped the sub-brand growth chart.

Experts said the Union Budget 2026 maintains macroeconomic stability and supports fiscal consolidation, reducing the need for further monetary easing.

Analysts said the free fall of gold and silver from their record highs started after the US President Donald Trump selected Kevin Warsh as the next US Fed Chairman. Investors reacted negatively because Warsh is considered more aggressive on interest-rate policy than earlier chairs, they added.

Finance Minister Nirmala Sitharaman on Sunday rebutted Rahul Gandhi's criticism of the Union Budget, saying it focuses on MSMEs, farmers, women entrepreneurs, and rural workers amid global uncertainty. She said political criticism is welcome but must be backed by facts. Gandhi had termed the Budget blind to issues like unemployment, farmers' distress, and falling manufacturing.

Shivakumar also accused the Centre of weakening MGNREGA, ignoring farmers' concerns, and failing to revise sugar prices and MSP, warning that sugar factories in Karnataka are running at losses. He further questioned the Centre's focus on AI-driven initiatives, stressing that farmers' immediate needs and agricultural support should be prioritised over such projects.

Prime Minister Narendra Modi on Sunday said the Union Budget 2026 will empower the poor, increase farmers' income and strengthen villages while boosting Atmanirbhar Bharat and Make in India. Addressing a gathering in Jalandhar on Sant Ravidas Jayanti, Modi said the budget focuses on youth and women power. The budget was presented earlier in Parliament by FM Nirmala Sitharaman.

According to an official statement from the Ministry, the enhanced allocation including 4,821.21 crore for the Department of Health Research (DHR) reflects a cumulative increase of over 176 per cent compared to FY 2014-15, translating into an additional 63,677.89 crore over the last decade.

Finance Minister Nirmala Sitharaman proposed a Rs 10,000 crore Bio Pharma Shakti scheme to boost biologics, positioning India as a global bio-pharma hub to combat non-communicable diseases like diabetes.

Finance Minister Nirmala Sitharaman announced that the Income Tax Act 2025 will come into effect from April 1, 2026, with redesigned I-T forms to simplify compliance for citizens.

A meeting of the Union Cabinet was held at Sansad Bhawan at 10 a.m., and after the Cabinet's approval, Finance Minister Nirmala Sitharaman proceeded to Parliament to present the Budget. Earlier, FM Sitharaman met President Droupadi Murmu and offered her a copy of the digital budget.

MCX gold February futures fell 7.12 per cent to Rs 1,39,000 per 10 grams around 10 am on an intraday basis. Meanwhile, MCX silver March futures dipped 9 per cent to Rs 2,65,652 per kg. CME Group raised margin requirements on Comex gold and silver futures after the metal prices saw steep declines, which raised investor caution.

This move is expected to reduce tax evasion and improve revenue collection. Pan masala manufacturers will now have to take fresh registration under the new health and national security cess law starting February 1.

UKIBC stressed the need for policy certainty, easier regulatory processes, and a level-playing field for international companies to fully benefit from FDI liberalisation. Business leaders have also sought targeted tax incentives, revival of the lower tax rate for manufacturing, and reforms in direct tax dispute resolution with time-bound appeal disposal.

The company's PBT stood at Rs 2,800 crore in Q3 FY26 compared to Rs 2,659 crore in the same period last financial year, supported mainly by lower finance costs and stable operating performance, according to its stock exchange filing.

MCX gold February futures rose 5.99 per cent to Rs 1,75,885 per 10 grams around 10.45 am. Meanwhile, MCX silver March futures rose 4.24 per cent to Rs 4,01,699 per kg.

Bridges, not walls, endure; partners, not sides, define victory. As ratification beckons, India and the EU have scripted a masterclass in strategic interdependence, one that could inspire a fragmented world to rebuild.

The company's momentum during the quarter reflects transformative steps, chief among which is the announcement of the amalgamation of ACC Limited into Ambuja Cements Limited establishing a unified 'One Cement Platform' that will accelerate its growth trajectory, drive operational excellence, improve capital efficiency, reinforce its industry leadership and support long-term value creation.

International markets also saw gold and silver touching records as caution grew due to ongoing policy uncertainty, fresh tariff threats, and criticism of the Federal Reserve from the US administration.

The launch of the New Income Tax Act has certainly been a big step towards a simplified income-tax law, most respondents said, however, when asked where rationalisation is needed most, respondents ranked TDS and TCS compliances followed by the assessment and litigation process, and the capital gains tax regime among top priorities.

Digital banking services, including UPI and internet banking, are likely to continue, though ATM cash availability could face local disruptions. The unions' key demand is the declaration of all Saturdays as bank holidays, a provision included in the 12th Bipartite Settlement signed in March 2024 but yet to be formally notified by the government.