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The domestic equity indices traded with minor gains in early trade after a sharp sell-off during a special trading session on Sunday. Investor sentiment weakened after the Union Budget for FY 2026'27 fell short of market expectations, particularly on issues related to foreign investment and trading costs. The Nifty traded above the 24,800 level. Oil & Gas, metal and banks shares advanced while FMCG, IT and media shares declined. At 09:28 IST, the barometer index, the S&P BSE Sensex, jumped 197.32 points or 0.24% to 80,921.92. The Nifty 50 index rose 32.80 points or 0.11% to 24,843.55. The broader market underperformed the frontline indices. The S&P BSE 150 MidCap Index fell 0.56% and the S&P BSE 250 SmallCap Index declined 0.94%. The market breadth was negative. On the BSE, 1,297 shares rose and 1,651 shares fell. A total of 151 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, was up 1.52% to 15.33. Foreign portfolio investors (FPIs) sold shares worth Rs 588.34 crore, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 682.73 crore in the Indian equity market on 1 February 2026, provisional data showed. Stocks in Spotlight: Hero Motocorp rose 0.21%. The company's total sales jumped 26% to 5,57,871 units in January 2026 compared with 442,873 units in January 2025. Latent View added 2.61% after the company reported a 19.68% jump in consolidated net profit to Rs 501.42 crore on 22.02% increase in revenue from operations to Rs 2780.09 crore in Q3 FY26 over Q3 FY25. Studds Accessories declined 2.27%. The company reported a 26.3% jump in consolidated net profit to Rs 20.7 crore on 9.4% rise in revenue from operations to Rs 163 crore in Q3 FY265 over Q3 FY25. Numbers to Track: The yield on India's 10-year benchmark federal paper rose 0.96% to 6.759 compared with previous session close of 6.695. In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 90.7300 compared with its close of 90.7875 during the previous trading session. MCX Gold futures for 2 April 2026 settlement declined 1.95% to Rs 144,885. The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.10% to 97.09. The United States 10-year bond yield fell 0.12% to 4.239. In the commodities market, Brent crude for April 2026 settlement fell $2.84 or 4.10% to $64.21 a barrel. Brent crude prices slid after U.S. President Donald Trump said over the weekend that Iran was 'seriously talking' with Washington, signaling a possible easing of tensions with the OPEC member. The comments helped temper fears of a potential military strike that had earlier pushed oil prices to multi-month highs. Global Markets: The US Dow Jones index futures is currently down by 354 points, signaling a weak opening for US stocks today. Asian equities slipped on Monday as investors digested fresh private data on China's factory activity for January, while gold continued to slide after last week's drop. China's manufacturing momentum picked up pace in January, a private survey released on Monday showed, with producers ramping up output and shipping goods ahead of the long Lunar New Year break. The RatingDog China General Manufacturing PMI, compiled by S&P Global, edged up to 50.3 in January from 50.1 in December. Since readings above 50 signal expansion and those below indicate contraction, the latest print points to a modest improvement. It was also the strongest showing since October, when the index stood at 50.6. Over in the US, stocks ended lower on Friday as technology shares stayed under pressure, even as markets broadly welcomed President Donald Trump's choice of Kevin Warsh as the next Federal Reserve chair. Despite the late-month wobble and choppy trading through January, the S&P 500 still managed to close the month in positive territory. On Friday, the index slipped 0.43% for its third straight decline, the Dow Jones Industrial Average fell 0.36%, and the Nasdaq Composite lagged with a sharper 0.94% drop. Warsh's nomination helped calm nerves around the Fed's independence, given his past experience as a central bank governor and his firm views on inflation. While he is expected to favour lower interest rates in the near term, in line with Trump's preferences, markets see him as someone likely to retain policy credibility rather than simply take cues from the White House. Powered by Capital Market - Live News
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