Bombay Stock Exchange (BSE) building (Express photo by Sankhadeep Banerjee)
Stock Market Today Live Update: After facing massive drubbing on the Budget day, stock market benchmark indices Sensex and Nifty on Monday rebounded in early trade driven by value-buying in blue-chip firms. The BSE Sensex climbed 302 points to 81,024.94 during initial trade while the NSE Nifty went up by 59.25 points to 24,884.70.
Rupee gains: Meanwhile, the rupee gained 37 paise to 91.56 against the US dollar in early trade a day after the Union Budget 2026-27, largely as crude oil prices retracted from their elevated levels. According to Forex traders, the rupee, the budget offered reassurance, not relief. The government is expected to borrow Rs 17.2 lakh crore in the next financial year to plug its fiscal deficit projected at 4.3 per cent of the GDP.
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The Sunday crash: The stock markets fell 2% Sunday as Budget 2026-27 proposed a hike in Securities Transaction Tax (STT) for futures and options (F&O) aiming to further curb what government officials called speculative trading. With the absence of any immediate positive triggers also dampening sentiment, the 30-stock BSE Sensex slumped as much as 2.9% intraday after the announcement before ending at 80,722.94 points, down 1.9% from Friday. This was the second sharpest fall on Budget day since 2014. Meanwhile, the Nifty 50 — the National Stock Exchange’s (NSE) flagship index — closed 2% lower at 24,825.45 points.
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