- Indian markets opened slightly lower ahead of Union Budget 2026 on Sunday
- Both BSE and NSE held special trading sessions on Sunday for Budget presentation
- Gold and silver prices fell approximately 6% following an overnight sell-off
Indian markets suffered heavy losses amid high volatility as Finance Minister Nirmala Sitharaman presented the Union Budget 2026. Sensex, the 30-share pack of the Bombay Stock Exchange (BSE), fell over 1,600 points during afternoon trade, while Nifty, representing the top 50 stocks by market value in the National Stock Exchange (NSE), lost over 500 points.
Experts had predicted high volatility in the markets with sharp moves possible in either direction.
Both stock exchanges had announced a special trading session this Sunday in view of the ninth consecutive budget presentation by Finance Minister Nirmala Sitharaman at 11 am. However, debt and foreign exchange markets are shut. Check the Budget live updates here
Since the last budget, Nifty50 has gone up just 7.8%, underperforming in comparison with its Asian peers as record foreign outflows and muted corporate earnings hit investor sentiments.
However, policy measures like GST cuts and interest rate cuts since the last budget have improved earnings and consumption demand since.
Meanwhile, gold and silver futures have crashed about 6% each after an overnight sell-off as speculations over import duties hit jewellery traders.
The Economic Survey, released on Thursday, projects India's GDP growth in the ongoing financial year at 7.4% and between 6.8% and 7.2% in the next financial year (2026-27).
