The Indian market ended nearly flat in the specialBudgetsession on Saturday, as investors reacted to a smaller-than-expected increase in government capital expenditure and plans to stimulate consumption through personal tax cuts in the Union Budget 2025.The benchmark BSE Sensex gained 5.39 points or 0.01% to close at 77,505.96, while the broader Nifty 50 index closed at 23,482.15, lower by 26.25 points or 0.11%.Here’s how analysts read the market pulse: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, said Vinod Nair, Head of Research atGeojit Financial Services, adding the 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,” Nair added.US marketsUS stocks closed lower on Friday as markets retreated following the White House announcement that President Donald Trump will impose tariffs—25% on Canadian and Mexican imports and 10% on Chinese goods—starting Saturday.The Dow Jones Industrial Average fell 337.47 points, or 0.75%, the S&P 500 lost 30.64 points, or 0.50%, and the Nasdaq Composite lost 54.31 points, or 0.28%.European MarketsEuropean shares hit a record high on Friday, driven by gains in technology stocks, as strong earnings from companies like Novartis and Hexagon outweighed concerns about economic recovery.The pan-European STOXX 600 index closed up 0.13% as technology led sectoral gains with a 1.7% rise.Tech ViewThe Nifty has witnessed a roller-coaster ride during the Budget session, said Rupak De, Senior Technical Analyst at LKP Securities, adding that on the daily chart, a small-bodied candle has formed, indicating indecision.“Nifty has support at 23,280, and as long as it remains above this level, the trend might stay positive. On the higher end, the index could move towards 23,700–24,000 in the short term. However, a fall below 23,280 might trigger panic in the market,” De added.Also read | Time to buy the dip? Stock market indicates oversold levelMost active stocks in terms of turnoverKalyan Jewellers India (Rs 2,489.51 crore), RVNL (Rs 2,137.26 crore), Zomato (Rs 1,968.97 crore), Mazagon Dock Shipbuilders (Rs 1,844.01 crore), Hindustan Aeronautics Ltd (Rs 1,778.55 crore), Bharat Electronics Ltd (Rs 1,769.99 crore) and Larsen & Toubro (Rs 1,650.53 crore) were among the most active stocks on NSE in value terms. Higher activity in a counter in value terms can help identify the counters with highest trading turnovers in the day.Most active stocks in volume termsVodafone Idea (Tr
Dom. Feb 2nd, 2025
