Sensex, Nifty Mixed Ahead of Union Budget 2026; Hindalco Industries Leads Losses

Indian equity markets began Sunday’s special trading session on a cautious note ahead of the Union Budget 2026. 

With the government set to outline its fiscal priorities, investors remained watchful for signals on public spending, growth support and measures for export-oriented sectors.

Early trade reflected modest weakness, driven by pre-Budget positioning rather than broad-based selling.

Feb 1, 2026 Market Opening Snapshot

At around 09:21 AM, the benchmark indices showed mixed but subdued movement.

The Nifty 50 was trading at 25,294.30, down 26.35 points or 0.10%, while the BSE Sensex hovered at 82,288.23, marginally higher by 18.45 points or 0.02%.

The muted start indicated cautious sentiment as investors avoided aggressive bets ahead of the Budget presentation.

Investor Sentiment Ahead of the Budget

As per news reports, market participants are closely tracking the government’s stance on fiscal spending and growth support. 

Expectations include higher public expenditure to sustain economic momentum, along with possible measures to support export-focused industries facing pressure from US tariff-related developments, as per news reports.

The special trading session reflected a wait-and-watch approach, with stock-specific moves outweighing broader market trends.

Top Gainers in Early Trade

Select large-cap stocks saw buying interest despite overall caution.

1. Sun Pharmaceutical Industries Ltd

Sun Pharmaceutical Industries stock gained 3.60%, trading at ₹1,652.80. Buying interest was supported by positive sentiment in the pharmaceutical space.

2. Bajaj Auto Ltd

Bajaj Auto, shares rose 2.44% to ₹9,832.00, supported by recent earnings momentum and sector-specific strength.

Top Losers in Early Trade

Metal stocks came under notable pressure during early trade.

1. Hindalco Industries Ltd

Hindalco Industries stock declined 8.49% to ₹880.85, emerging as one of the biggest laggards amid weakness in the metals space.

2. Tata Steel Ltd

Tata Steel Ltd shares fell 2.30% to ₹188.68, reflecting cautious sentiment towards metal producers ahead of policy clarity.

Read More: Silver ETFs in Focus as Global Silver Prices Witness Record One-Day Fall Ahead of Budget 2026.

Conclusion

Indian equity markets opened modestly lower in a special session ahead of Union Budget 2026, reflecting investor caution rather than risk aversion. With fiscal priorities and growth signals awaited, market direction is likely to remain driven by Budget announcements and stock-specific developments in the near term.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.