On Thursday, India’s key stock indices, Nifty 50 and Sensex, fell following two days of gains spurred by the India-EU trade deal, as investor focus shifted to the upcoming Union Budget scheduled for Sunday. The budget is expected to provide clarity on economic growth and corporate profitability in the country, which is the fastest-growing major economy. A special trading session is planned for the budget day.
The Nifty 50 slipped 0.23% to 25,281.90, while the Sensex dropped 0.21% to 82,172.29 as of 12:24 IST. Indian markets have had a subdued start to 2026, with the Nifty 50 down about 3.6% year-to-date.
According to Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, Nifty 50 faced selling pressure near the key 25,400 resistance and is now trading lower by around 160 points. The broader market is expected to move within a 24,900–25,400 range, with a potential bounce from the 25,100–25,200 support levels targeting 25,400.
Stock-specific calls include MRPL, recommended at ₹172.50 with a target of ₹183 and stoploss at ₹166, and Jupiter Wagons Ltd, suggested at ₹323.50, target ₹340, stoploss ₹315, both expected to see near-term upside based on recent technical patterns.
