Hello and welcome to our live coverage of Indian stock markets, where we follow the Sensex and Nifty after the Budget day session and the proposed rise in the Securities Transaction Tax on derivatives.
Indian equity benchmarks rebounded from opening losses. Sensex opened about 100 points lower and Nifty dipped below 24,800, then both moved higher. Sensex rose as much as 400 points after falling as much as 242.33 points, while Nifty gained as much as 0.2% to 24,874.25. Asian Paints led the gains with a 3% rise, followed by L&T up 2.7% and Tata Motors PV up 2.1%.
The move follows Sunday's Budget session, when the benchmark indices registered their worst budget session since 2020 after the Finance Minister Nirmala Sitharaman proposed a higher Securities Transaction Tax on futures and options. Nifty closed down 495.20 points, or 1.96%, at 24,825.45, and Sensex ended down 1,546.84 points at 80,722.94, after both fell nearly 3% at the day's low. The government said the STT change aims to curb excessive speculation in the futures and options segment.
The Budget 2026–27's increase in securities transaction tax (STT) on futures and options could weigh on near-term market sentiment, said Rahul Jain, president and head at Nuvama Wealth Management. Jain. however, expects limited impact on long-term investors.
“The increase in STT on F&O may weigh on near term sentiment, the impact on long term investors is likely to be limited,” Jain said in a note after the Budget.
Finance minister Nirmala Sitharaman raised STT on derivatives in the Budget speech, increasing the levy on futures and options and describing it as a “course correction” in the F&O segment.
She raised STT on futures to 0.05% from 0.02% and raised STT on options premium and options exercise to 0.15%, from 0.1% and 0.125%, respectively.
The market breadth, however, was tilted in favour of sellers. About 1,793 stocks declined and 1,495 stocks advanced on BSE.
Follow our minute-by-minute coverage for live moves in the Sensex and Nifty, key Budget developments, and the market response to the Securities Transaction Tax changes in futures and options.
Stock Market Live: Tough Times Ahead For Dixon Tech
Now, turning to EMS stocks, Budget 2026 put electronics components in focus, with the government doubling the electronics component manufacturing scheme (ECMS) budget to Rs 40,000 crore for FY27. The announcement also sits within the wider push for India Semiconductor Mission 2.0.
Two broker notes then zeroed in on Dixon Technologies. Jefferies flagged the mobile PLI allocation and said it sees no extension, while Morgan Stanley kept an underweight rating with a target price of Rs 8,157 and pointed to a low chance of any extension beyond March 2026 as policy focus shifts to higher value addition. Despite the notes, Dixon shares opened slightly higher on Monday.
Click through to see the full breakdown of the Budget linkage and what the broker notes mean for EMS names.
Stock Market Live: Crude Drop A Cost Support For Asian Paints, Says Nuvama
Nuvama Wealth Management said a fall in crude prices can support paint makers’ costs and help Asian Paints in the March quarter, as it forecast 11% volume growth for the company in Q4.
The brokerage firm said that the crude is a key raw material input for paint players and noted crude was down 5% on the day. It linked that move to the cost base for the sector.
The research firm also pointed to expected changes in competitive behaviour, including a pullback in promotions and a more measured pricing approach, as factors it will track for Asian Paints.
Stock Market Live: Meesho Hits 5% Lower Circuit For Second Day
Shares of Meesho were locked in 5% lower circuit for the second consecutive trading session.
That came after the online marketplace's losses widened during the three months ended December, primarily due to a surge in expenses during festive season. The company had posted a loss of Rs 37.43 crore in the year-ago period.
Stock Market Live: MRPL Share Price Halts Two-Day Fall
Shares of MRPL halted a two-day losing streak. The stock rose as much as 6.8% to Rs 173.79. The scrip had declined nearly 10% on Sunday.
Stock Market Live: Anant Raj Share Price Extends Rally, Stock Surges Over 7%
Shares of Anant Raj extended gains for the second consecutive trading session. The stock rose as much as 7.4% to Rs 570.55 apiece.
The real estate developer had rallied over 14% on Sunday after the Finance Minister Nirmala Sitharaman announced a tax holiday for overseas firms offering cloud services for India-based data centres.
Stock Market Live: Sensex, Nifty Swing In Opening Trade
Indian equity benchmarks fluctuated between gains and losses after Sunday's worst Budget trading session in six years. The BSE Sensex opened 100 points lower while the NSE Nifty 50 fell to below 24,800.
At 9:23 am, the 30-stock index had erased losses and rose over 200 points, while the NSE Nifty 50 trade at 24878.85.
Money Market Live Updates: 10-Year Yields At One-Month High
Indian government bonds fell after the government announced a record gross borrowing plan of 17.2 trillion rupees ($187 billion) on Sunday for fiscal 2027. The 10-year yield rose as much as 8 basis points to 6.78%, the highest since Jan. 17, 2025.
The market is already dealing with adverse demand-supply dynamics, Bloomberg reported quoting Puneet Pal, head of fixed income at PGIM India Mutual Fund.
Money Market Live Updates: Rupee Strengthen by 19 Paise
The Indian rupee strengthened by 19 paise to 91.76 at the open against the US dollar.
Q3 Results Live Updates: Hyundai India, Ather Energy, Bajaj Housing Finance To Report Earnings Today
At least 75 companies are set to announce their Q3FY26 results today.
Key companies declaring results include Ather Energy Ltd., Hyundai Motor India Ltd., Mahindra Lifespace Developers Ltd., PB Fintech Ltd., and Tata Chemicals Ltd. After announcing the Q3FY26 results, most of the companies will hold an earnings conference call to discuss the Q3 performance and outlook. Some may also announce dividends as a reward for the shareholders.
Click here to see the full list
Commodity Check: Gold And Silver Prices Today
If you are tracking bullion prices this morning, here is the key move first. Silver fell to Rs 2.66 lakh per kg in the national capital on Monday, while gold dropped to Rs 1.48 lakh per 10 grams, as investors booked profits amid a wider global selloff linked to geopolitical events, according to the India Bullions website.
The slide also showed up in early global trade. Spot gold fell as much as 4%, and silver dropped by a similar margin while holding above $80 an ounce after briefly falling as much as 12%. The recent swing followed Friday’s drop after news that U.S. President Donald Trump plans to nominate Kevin Warsh as the next Fed chair, which strengthened the dollar and changed trader expectations.
Check the latest city-wise gold and silver prices here.
Stock Market LIVE: What's Happening In Asian Markets
A quick look at Asian markets: Stocks cut early losses and metals swing in Monday trading.
Asian shares were down 0.3% and Nasdaq 100 futures slipped 0.2%, both off their session lows. The Bloomberg Dollar Spot Index erased earlier gains to trade flat after the dollar logged its strongest day since May on Friday, following President Donald Trump’s nomination of Kevin Warsh as the next Federal Reserve chair. The yen moved up and down after Japan’s prime minister said a weak yen can be an opportunity for export industries.
Read the full story here.
Budget 2026: Cigarette Prices Rise After Excise Duty Hike
Cigarette prices have risen by at least Rs 22 to Rs 25 for a 10-stick pack after additional excise duty took effect on Sunday. Distributors said some 76 mm premium brands may go up by Rs 50 to Rs 55 per 10-stick pack, depending on the brand.
What to watch: manufacturers have not issued revised MRP declarations yet, but distributors have started billing old stock to retailers with 40% GST. With wholesale markets shut on Sunday, distributors expect fresh stock with new MRPs to start moving from Monday.
Price checks shared by distributors include Wills Navy Cut (76 mm) moving from Rs 95 to about Rs 120 for 10 sticks, 84 mm brands priced at Rs 170 moving to about Rs 220 to Rs 225 for 10 sticks, and Classic Connect (97 mm) moving to about Rs 350 for 20 sticks. Distributors expect packs with new MRPs from manufacturers by month-end, while some companies have put stocks on hold, a stockist said. AICPDF said India has about 8,000 to 9,000 stockists of cigarettes and tobacco products.
January Auto Sales LIVE: Hero MotoCorp
Hero MotoCorp reported a 26% rise in total January sales from a year earlier to 557,871 units.
Domestic sales rose 26% to 520,208 units, while exports increased 24% to 37,663 units. Motorcycle sales climbed 24% to 495,889 units — keep an eye on how the domestic and exports split shapes the overall run rate.
Sensex, Nifty Live Updates: What Is Budget's Buyback Tax Implicate?
The Finance Bill 2026 proposes to tax buybacks as capital gains for shareholders who hold 10% or less of a company’s equity. It sets long-term capital gains tax at 12.5% plus surcharge, while promoters — defined as holders above 10% — would continue to be taxed as dividend income at 22% or 30% for promoters other than domestic companies, plus surcharge.
Why it matters: The proposal seeks a more uniform tax approach to buyback income and could affect how listed companies use buybacks. The updated rules, framed under the Income Tax Act, 2025, are scheduled to take effect on April 1, 2026, and may raise questions around setting off capital losses against buyback proceeds, according to Vaibhav Gupta of Dhruva Advisors.
Stock Market LIVE: STT Hike — What The Budget Proposed
The Union Budget 2026 proposed a sharp rise in the Securities Transaction Tax on derivatives trades, in a move the government said would curb excessive speculation in the futures and options segment.
Proposed changes:
- STT on futures: raised to 0.05% from 0.02%.
- STT on options premiums: raised to 0.15% from 0.1%.
- STT on the exercise of options: raised to 0.15%.
Also Read: STT Hike Undertaken To Curb Speculative Activity In F&O, Says Govt