Indian Stock Market Today: Global Selloff, Crashing Gold Prices and Bitcoin Fall Keep Sensex Volatile Ahead of Budget 2026
The Indian stock market is expected to witness heightened volatility today, February 1, as investors brace for the Union Budget 2026–27, to be presented by Finance Minister Nirmala Sitharaman in Parliament later in the day.
Global market weakness, a sharp selloff in precious metals, a stronger US dollar, and a steep fall in Bitcoin prices have added to investor caution. The BSE and NSE are conducting a special trading session today to facilitate market activity during the Budget presentation.
Indian Market Performance on Friday
On Friday, domestic equities ended lower, snapping a three-session winning streak amid profit booking ahead of the key policy event.
Sensex declined 296.59 points, or 0.36%, to close at 82,269.78
Nifty 50 slipped 98.25 points, or 0.39%, to settle at 25,320.65
Market participants are largely expecting policy continuity rather than big-bang reforms, keeping short-term sentiment cautious.
Market Strategy View
Ajit Mishra, SVP – Research at Religare Broking, advised investors to stay selective. He said investors should continue a buy-on-dips approach, focusing on quality large-cap stocks and sectors linked to manufacturing, infrastructure, and exports. He added that banking, defence, and energy appear favourable, while caution is warranted in sectors facing global headwinds.
Key Global Market Cues for Sensex Today
Wall Street Ends Lower
US markets closed lower on Friday after President Donald Trump nominated Kevin Warsh as the next chairman of the Federal Reserve, a move seen by investors as hawkish.
Dow Jones fell 0.36%
S&P 500 slipped 0.43%
Nasdaq Composite dropped 0.94%
For the week, Wall Street indices showed mixed performance, while monthly gains remained modest.
Stock-Specific Action in the US
Apple shares rose 0.43%
Meta declined 3%
Tesla jumped 3.3%
Nvidia eased 0.72%
AMD slid 6.13%
European Markets End Higher
European equities finished higher as investors tracked corporate earnings.
Pan-European Stoxx 600 rose 0.5%
FTSE 100 gained 0.51%
DAX rallied 0.94%
Gold and Silver Prices Crash
Gold and silver prices witnessed a sharp correction on Friday due to profit booking amid a global selloff and a strengthening US dollar.
MCX gold plunged 18% to ₹1,50,849 per kg
MCX silver slumped 27% to ₹2,91,922 per 10 grams
US Government Shutdown Adds Uncertainty
The US government entered a brief shutdown after lawmakers failed to pass a funding bill before the deadline, according to Reuters. The development has added to global risk aversion.
US Dollar Strengthens
The US dollar strengthened sharply following the Fed leadership announcement and inflation data.
Dollar Index rose 0.57% to 96.73
Euro slipped to $1.1904
Bitcoin Slumps Below $80,000
Bitcoin prices fell sharply, sliding below the $80,000 mark to levels last seen in April 2025.
Bitcoin dropped 6.6% to $78,521.58
Ether declined 10.2% to $2,431.42
The fall came amid thin liquidity and weak buying interest.
Crude Oil Prices Edge Lower
Crude oil prices declined modestly:
Brent crude fell to $69.32 a barrel
WTI crude slipped to $65.21
Market Outlook
With global cues turning mixed and the Union Budget 2026 set to be announced today, Dalal Street is likely to remain volatile, with stock-specific action expected across sectors.
0 Comments