The trends on Gift Nifty also indicate a gap-down start for the Indian benchmark index. The Gift Nifty was trading around 23,365 level, a discount of nearly 190 points from the Nifty futures’ previous close.

Nifty 50 also faced the wrath of bears with a decline of 243 points to fall below 23,250 levels. Both the benchmarks have tumbled by more than 1% each. The performance comes after the Union Budget announcement where deep tax changes were announced by FM Nirmala Sitharaman.

Nifty 50, Sensex and the Nifty Bank indices witnessed a good recovery last week. However, the rise stalled on Saturday as the Union Budget failed to impress the markets. The expected trigger has not come from the Budget for the markets to rise strongly.

BSE Sensex and Nifty50, the Indian equity benchmark indices, tanked in trade on Monday morning. While BSE Sensex went below 77,000, Nifty50 was near 23,250. At 9:20 AM, BSE Sensex was trading at 76,843.

The trends on Gift Nifty also indicate a mildly positive start for the Indian benchmark index. The Gift Nifty was trading around 23,438 level, a premium of nearly 20 points from the Nifty futures’ previous close.

Indian stock markets are set to open in the red today as Nifty futures slipped 0.75% to 23,374 around 8:30 AM. While the Union Budget 2025, presented by Finance Minister Nirmala Sitharaman on February 1,

During Sitharaman's speech, the Indian benchmarks erased morning gains and fell to the day's low. The Nifty 50 declined 0.81% to 23,318.30, and the Sensex fell 0.64% to 77,006.47.

Indian markets opened flat ahead of the Union Budget 2025, with Sensex and Nifty struggling for direction while mid- and small-cap stocks outshone