Bourses sustain gaining momentum in early afternoon session

Indian markets continued their gaining momentum in early afternoon session following positive cues from other Asian markets. Traders were braced for RBI interest rate decision, due on February 06. Sentiments remained upbeat as US President Donald Trump, after a phone conversation with Prime Minister Narendra Modi, has said that India and the US have agreed to a trade deal under which Washington will bring down reciprocal tariff on Indian goods to 18 per cent from current 25 per cent. Investors took note of Finance Minister Nirmala Sitharaman's statement that the Union Budget 2026-27 prioritized investments in order to boost consumption, and the trajectory of fiscal deficit shows that the government’s priority is growth. On the global front, all Asian markets were trading higher as traders cheered signs of de-escalating tensions between the U.S. and Iran amid reports Iran is prepared to negotiate with the U.S. over its nuclear program. 

The BSE Sensex is currently trading at 83999.45, up by 2332.99 points or 2.86% after trading in a range of 83501.22 and 85871.73. There were 30 stocks advancing on the index.

The top gaining sectoral indices on the BSE were Realty up by 5.12%, Power up by 4.50%, Capital Goods up by 4.22%, Utilities up by 4.04% and Industrials was up by 3.81%, while there were no losing sectoral indices on the BSE.

The top gainers on the Sensex were Adani Ports up by 8.53%, Bajaj Finance up by 5.71%, Eternal up by 5.06%, Power Grid up by 5.02% and Interglobe Aviation up by 4.85%.
Meanwhile, a day after the presentation of the Union Budget 2026-27, Union Minister Jitendra Singh has joined others in enumerating its benefits, while also addressing concerns regarding benefits for the middle class. According to him, the push has been given for technology-driven AI-integrated structural reforms in the Budget to shape India’s future and it lays down a forward-looking roadmap for the next quarter century.

Singh said the Budget may take time to be fully appreciated, but it reflects a clear, sequential vision where structural reforms are powered by cutting-edge technologies, and cutting-edge technologies are increasingly driven by AI. He said this makes the Budget inherently futuristic and places a responsibility on informed stakeholders, including the media, to communicate its long-term benefits to citizens.

He further stated that the Budget’s true impact lies in long-term relief from rising healthcare and living costs, rather than short-term income calculations. He said large-scale investment in biopharma, diagnostics, vaccines, and gene-based therapies would significantly reduce the financial burden on families dealing with chronic diseases such as cancer, diabetes, and metabolic disorders.

Besides, Union Minister said that the Budget ensures inclusivity, with measures that directly benefit the poorest sections, including improved healthcare access, affordable medicines, district-level cancer care facilities, women-led entrepreneurship programmes, and livelihood generation through science-based interventions.

The CNX Nifty is currently trading at 25812.15, up by 723.75 points or 2.88% after trading in a range of 25641.30 and 26341.20. There were 48 stocks advancing against 2 stocks declining on the index.

The top gainers on Nifty were Adani Enterprises up by 11.38%, JIO Financial up by 8.68%, Adani Ports up by 8.52%, Bajaj Finance up by 5.72% and Eternal up by 5.08%. On the flip side, Coal India down by 0.18% and Nestle down by 0.10% were the top losers.

All Asian markets were trading higher; Nikkei 225 surged 2078.82 points or 3.8% to 54,734.00, Taiwan Weighted added 571.33 points or 1.77% to 32,195.36, KOSPI increased 338.41 points or 6.4% to 5,288.08, Jakarta Composite gained 149.94 points or 1.89% to 8,072.67, Hang Seng advanced 93.43 points or 0.35% to 26,869.00, Straits Times rose 51.82 points or 1.06% to 4,944.09 and Shanghai Composite was up by 50.92 points or 1.27% to 4,066.67.