Sensex Today | Stock Market Highlights: Nifty closes 500 points lower after Budget; Metal, Defence fall

28, 2022. Stay tuned for other updates on our website: CNBCTV18.com.

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The government would create a cadre of “corporate mitras” in Tier-II and Tier-III cities to aid MSMEs.

The statement was made on Sunday during the presentation of the Union Budget 2026–2027 by Finance Minister Nirmala Sitharaman.

The FY27 Budget allotted ₹8,000 crore for the AMRUT (Atal Mission for Rejuvenation and Urban Transformation) project, a 20% decrease from the ₹10,000 crore allotted in Budget 2025.

The allotment coincides with the government’s ongoing efforts to enhance basic services and urban infrastructure in all cities and towns under the AMRUT framework.

For the fiscal year 2026–2027, the Pradhan Mantri Krishi Sinchai Yojana (PMKSY) received ₹6,587 crore from the Union Budget 2026.

Compared to the ₹8,260 crore allotted in Budget 2025, this represents a decrease. However, the most recent budget’s updated estimates show spending of ₹6,372 crore.

These are the biggest losers among the Nifty 500 stocks as the Indian markets slumped to major lows.

According to business executives, the budget promotes long-term growth through infrastructure, manufacturing, and budgetary restraint. Tarun Garg gave the budget a high rating and stated that it promotes the expansion of the auto and manufacturing sectors.

Industry executives have mostly responded favourably to the Union Budget 2026, which Finance Minister Nirmala Sitharaman unveiled on February 1. They see it as a continuation of the government’s medium-term economic policy rather than a radical reform.

₹1,102 crore has been set aside in the Union Budget 2026–2027 for the Prime Minister’s Office, the Cabinet Secretariat, the Council of Ministers, and the entertainment and hospitality of state visitors.

The sum exceeds the updated estimate of ₹978.20 crore allotted for 2025–2026.

The 2026 Budget allotted ₹9,692 crores to the Swachh Bharat Mission. Compared to FY26, when Finance Minister Nirmala Sitharaman announced ₹12,192 crores for the joint flagship initiative, there was a 26% decrease in funds.

Long-term tax exemption for data centers is a crucial policy step, according to former G20 Sherpa Amitabh Kant. Additionally, he favoured quicker asset monetisation and disinvestment. In order to draw in investors, he stated that regulatory clarity and policy consistency are crucial.

The Union Budget 2026-27 allotted ₹550 crore for the regional air connectivity initiative UDAN, which is just slightly more than the ₹540 crore given in the previous fiscal year.

Gurmeet Chadha, Managing Partner & CIO, Complete Circle

On KFintech and MCX

“On the stock side, I have a sell on KFintech with a stop at about ₹910, for targets of ₹940 that’s, that’s one trading call, and the other one is also a sell call, which is on MCX. It’s come off, come off the days low, but the structure is extremely weak. So if you want to sell now, keep a stop at about ₹2,270 look for targets of around ₹2,120.”

Mitessh Thakkar, President-Retail Research, Bonanza Portfolio

On Markets

Gurmeet Chadha, Managing Partner & CIO, Complete Circle

On various sectors

Amit Jeswani, Founder & CIO, Stallion Asset

Data centres

Amit Jeswani, Founder & CIO, Stallion Asset

STT

Dinesh Kanabar, Chairman & CEO, Dhruva Advisors on taxation

The Indian markets have closed in red with one of the biggest budget day falls.

Prashant Khemka, Founder, Whiteoak, Capital Group

Madhu Kela, Founder, MK Ventures

Samir Arora, Founder & Fund Manager, Helios Capital

Budget Focus On Steps To Improve Tourism

The Budget Is Of High Capex & High Growth

The Nifty index is under pressure yet again, as the 50-stock index is trading with a deficit of over 500 points.

On Sunday, February 1, 2026, Finance Minister Nirmala Sitharaman presented a calibrated glide path for fiscal reduction. She projected the Center’s fiscal deficit at 4.3% of GDP in 2026–2027, which is somewhat less than the 4.4% forecasted for the current fiscal year.

After Budget 2026 subtly gave the industry much-needed respite, investor sentiment improved and IT stocks found their footing on Sunday.

In the Union Budget for FY27, the central government gave the Education Ministry over ₹1.4 lakh crore, which is more than 14% more than the revised estimate of ₹1.21 lakh crore for FY26. The National Education Policy recommends spending 6% of GDP on education, this amount is still less than that.

The Union Budget 2026 has shown a strong emphasis on tourism and hospitality. With a strong emphasis on infrastructure, job creation, and upskilling, the government has positioned tourism and hospitality as important drivers of economic growth and employment.