Sensex Falls 600 Points, Nifty Drops 250 After Union Budget 2026 Speech

Sensex Falls 600 Points, Nifty Drops 250 After Union Budget 2026 Speech

Indian equity markets witnessed sharp volatility on Sunday as Finance Minister Nirmala Sitharaman presented the Union Budget 2026. The Sensex plunged over 1,600 points during afternoon trade, while the Nifty dropped more than 500 points. However, markets recovered nearly half of the losses soon after the Budget speech concluded, with the Sensex trading around 600 points lower and the Nifty down about 250 points.

Experts had earlier warned of heightened volatility during the Budget session, with sharp swings expected in either direction. In view of the Budget presentation, both the BSE and NSE held a special trading session, though debt and foreign exchange markets remained closed.

Since the last Budget, the Nifty50 has gained just 7.8%, underperforming several Asian peers due to sustained foreign fund outflows and subdued corporate earnings. Nonetheless, measures such as GST reductions and interest rate cuts over the past year have supported consumption and earnings recovery.

Meanwhile, gold and silver futures fell nearly 6% each following an overnight sell-off, driven by speculation over changes in import duties. The Economic Survey, released earlier, projected India’s GDP growth at 7.4% for the current financial year and between 6.8% and 7.2% for 2026–27.