NIFTY50, SENSEX on Budget day: Wall Street cues, FII activity, key things to know before market opens on Sunday, February 1

The Indian equity benchmarks are set to open little changed on Sunday, February 1, ahead of Union Budget 2026-27, as indicated by GIFT NIFTY futures. NIFTY futures at GIFT City in Ahmedabad advanced 16 points or 0.06% to 25,429 amid weak global cues.

The SENSEX and NIFTY50 indices since last Budget have advanced 6.14% and 7.82% respectively despite uncertainties around tariffs, geopolitical tensions, exodus of foreign capital and subdued earnings posted by the Indian corporates.

Market participants will keenly watch out for the announcement by Finance Minister Nirmala Sitharaman in the Budget speech which will start at 11:00 am.

Wall Street update

US stocks ended sharply lower on Friday as investors as investors viewed President Donald Trump's nomination of former Federal Reserve Governor Kevin Warsh as a hawkish choice to succeed Federal Reserve Chair ​Jerome Powell, according to news agency Reuters.

S&P 500 index fell 0.43%, Dow Jones Industrial Average dropped 0.36% and tech heavy Nasdaq declined 0.94%.

On top of assessing the risks from US tensions with countries including Iran, investors were also worried about ‌the prospect of another US government shutdown after new barriers emerged in the Senate to a deal that would ensure continuation of funding for agency operations, Reuters report added.

FII/DII activity

Foreign institutional investors bought shares worth ₹2,251 crore on Friday while domestic institutional investors sold shares worth ₹601 crore, data from the National Stock Exchange showed.

The FIIs have sold shares worth ₹1,24,221 crore since the last Budget, according to the data from National Securities Depository Limited (NSDL). Analysts say that all eyes will be on what steps government announces to arrest the selloff by foreign investors and ensure that rupee scale backs from its all-time low against the US dollar.

Stocks to watch on Budget day

The Pune-based company's total revenue from operations advanced 19% to ₹15,220 crore in the October-December period from ₹12,807 crore in the year-ago period underpinned by double-digit growth across all businesses (domestic motorcycles, electric 2W, 3W and exports) that was delivered on the back of buoyant festive demand and GST-led momentum on the domestic front, alongside the sustained resurgence on exports, Bajaj Auto said.

NSE's IPO plans have been delayed for more than a decade, following ongoing regulatory concerns and pending approvals.

The exchange first filed its draft offer documents in 2016 to raise about Rs 10,000 crore through an offer for sale by existing shareholders. However, Sebi did not grant approval due to regulatory concerns related to governance lapses and the co-location case. Since then, NSE had approached the regulator multiple times seeking clearance.

Silver prices collapsed 19% to ₹3.12 lakh per kg in the national capital on Saturday, while gold plunged 2% to ₹1.65 lakh per 10 grams, as investors booked profits amid a global selloff triggered by a stronger US dollar.

According to the All India Sarafa Association, silver nosedived ₹72,500, or 18.85%, to ₹3,12,000 per kilogram (inclusive of all taxes), marking a second consecutive day of heavy losses and wiping out much of this week's record gains.

The white metal had touched a record of ₹4,04,500 per kg on Thursday before plummeting 5% in the previous session.

Gold prices also lost sheen, sliding ₹3,500, or 2.07%, to ₹1,65,500 per 10 grams (inclusive of all taxes). The metal of 99.9% purity plunged 7.6% to ₹1,69,000 per 10 grams in the previous trade after hitting a record of ₹1,83,000 per 10 grams on Thursday.

The private sector lender had earned a net profit of ₹339 crore in the same quarter a year ago.

Total income increased to ₹12,542 crore during the quarter from ₹11,123 crore in the same period a year ago, IDFC First Bank said in a regulatory filing.

Interest income increased to ₹10,417 crore from ₹9,343 crore in the same quarter a year ago.

Net Interest Income (NII) increased to ₹5,492 crore in the third quarter of FY26 from ₹4,902 crore in the third quarter of the previous financial year.

However, Net Interest Margin (NIM) eased to 5.76% in the quarter from 6.04% recorded in the December quarter of the last year.

The Kerala-based lender's total income rose to ₹1,163 crore during the quarter under review from ₹1,062 crore a year ago, ESAF Small Finance Bank said in a regulatory filing on Friday.

The bank's interest income declined during the third quarter to ₹894 crore compared to ₹948 crore a year earlier.

Its net interest income (NII) for Q3 FY26 increased to ₹432 crore from ₹372 crore in the same period of the preceding financial year.

The net interest margin (NIM) improved to 6.5%, driven by a better asset mix and lower cost of funds, it said.

Christened as "Chakra", the platform will look at channelling funding to the right identified sunrise sectors like data centres and renewable energy, keeping lenders updated with developments in the sectors witnessing a high rate of technological advancements, and also enhancing coordination.

A slew of public sector banks, think tanks, advocacy groups, and Japanese lenders, including SMBC and MUFG, have joined the initiative.

The city-headquartered company had posted a PAT of ₹1,087 crore in the corresponding quarter of the previous financial year.

For the nine-month period ended December 31, 2025, the company’s PAT rose to ₹3,579 crore, compared with ₹2,992 crore in the year-ago period, Cholamandalam Investment and Finance Company said in a press release on Saturday.

The stipulation is subject to court approval.

In a filing in a federal court in Brooklyn, New York, seen by PTI, the SEC and US-based lawyers for Gautam and Sagar Adani said the lawyers had agreed to accept service of the regulator's legal papers, removing the need for a judge to rule on how the defendants should be served.

The company's total income was ₹12,599 crore, 7% higher compared to the year-ago period.

In a statement on Friday, Power Grid said its board of directors has also approved a second interim dividend of ₹3.25 per equity share with a face value of ₹10 for FY26.

This is in addition to the interim dividend of ₹4.50 per equity share for the FY 2025-26. The interim dividend for the year thus amounts to ₹7.75 per equity share of Rs 10 each.

The Mumbai-based drug major reported a net profit of ₹2,903 crore for the October-December quarter of the last fiscal.

Total revenue from operations rose to ₹15,520 crore for the third quarter as against ₹136.75 crore in the year-ago period.

The company said its board has approved an interim dividend of ₹11 per equity share of ₹1 for the financial year 2025-26.

"Our results this quarter demonstrate well-rounded growth across all businesses, prominently led by our branded businesses in India, emerging markets, and global innovative medicines," Sun Pharma MD Kirti Ganorkar said in a statement.

The company logged a profit after tax of ₹79 crore in the year-ago quarter.

Revenue in the quarter under review, however, rose 6.9% to ₹1,616 crore from Rs 1,512 crore recorded in the third quarter of the 2024-25 financial year, Blue Dart Express said.

Budget day trade setup

The NIFTY50 closed the month of January in the red with nearly 3% losses after battling external headwinds on renewed tariff threats, geopolitical uncertainty, FII selling, currency depreciation among others. However, positive factors like the India-EU trade deal helped the markets to recover from lower levels. The India Vix, a crucial volatility indicator, jumped above 14, indicating a heightened volatility scenario ahead of the budget day session.

Budget has remained a crucial day for traders, given its high intraday volatility and the opportunities it provides. Considering the current trading setup, with multiple external factors at play, the budget day is expected to remain volatile. The India Vix closed at 13.6, which gives an expected implied move of close to 1%. However, budget volatility also fades soon after the speech is over, and the market decides the direction on the basis of broader sentiment.

On the technical charts, the NIFTY has shown a sharp reversal from the 25,000 levels, indicating bulls holding a stronghold at the downside. While the upside remained capped at 25,500 due to the lack of positive triggers and mixed signals from the global markets. Experts believe that for the index to reclaim the bullish momentum, a weekly close above 25,500 is a must. On the other hand, the 25,000 support remains the borderline for bulls to hold back from entering into a bearish territory.

On the options data front, the 25,000 puts held the highest open interest on the downside, indicating strong support. On the other hand, the 25,500 calls held the highest open interest, indicating a strong resistance for the budget day.