Indian Stock Markets Brace for Volatility Amid Pre-Budget Anticipations
The Indian stock market opened lower amid concerns of monthly expiry and pre-budget volatility. The Sensex and Nifty indices showed marginal declines, despite key losses in Tata Motors and gains for Bajaj Finance. A special trading session is planned for the Union Budget 2025-26, adding to market fervor.
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- India
The Indian stock market commenced Thursday trading with caution, reflecting investor unease due to monthly expirations and pre-budget volatility. The Sensex opened 43.69 points down at 76,489.27, while the Nifty slightly declined by 5.30 points to 23,157.80. Among the Nifty 50, 35 stocks advanced, 15 declined, and one remained unchanged.
Early trade saw substantial gains for Bajaj Finance, Bajaj Finserv, Hindalco, NTPC, and Coal India. In contrast, Tata Motors, Wipro, Infosys, ICICI Bank, and HCL Technologies faced significant losses. Although the Union Budget presentation falls on February 1, a Saturday, the BSE and NSE will hold a special trading session, as confirmed by the exchanges' circular.
An analysis by Axis Securities' Head of Research, Akshay Chinchalkar, noted the Nifty's second successive rise above the critical level of 23,050, signaling activated bull positions. Despite this, overhead resistance lingers. Breaking resistance at 23,290-23,340, with support maintaining at 23,061, suggests a potential recovery. Investors eye profit-taking or protection as the India VIX spiked for the fourth consecutive day.
Market expert Ajay Bagga emphasized ongoing volatility amid heightened India VIX levels. With major index monthly expirations today, and a special session for the Union Budget looming, market positions are expected to be reduced heading into a pivotal weekend influenced by Trump tariffs and Indian Budget factors.
As the market navigates these turbulent times, attention remains firmly on the Union Budget and its implications for the economy and investor reactions. (ANI)
(With inputs from agencies.)