Stock Market Recovers After Budget Setback; Sensex Jumps 943 Points, Reliance and Auto Stocks Surge

The Indian stock market rebounded strongly today after suffering a sharp decline following the Union Budget announcement. Investor sentiment had been hit hard in the previous session, and even the Sunday market opening did little to ease the pressure.

Sensex and Nifty Rebound

The BSE Sensex closed 943.52 points higher, a 1.17% gain, at 81,666.46 points. The NSE Nifty50 index rose by 262.95 points, or 1.06%, to 25,088.40 points. In contrast, on Sunday, the Sensex had plunged 1,546 points, wiping out an estimated ₹10 lakh crore of investors’ wealth.

Sectoral Gains

Key Sensex stocks saw notable gains today:

• Reliance Industries surged 3.05% to close at ₹1,387.10.
• Adani Ports gained 4.61%.
• Hindustan Copper jumped 6.5%, recovering from a 21% decline over the last two sessions.
• Larsen & Toubro, Bharat Electronics, InterGlobe Aviation, and Power Grid rose between 1–3%.
• Hindustan Zinc climbed nearly 4%, despite a sharp fall in silver prices.

However, MCX shares fell 4% after a 20% drop in the past three sessions.

Impact on Cigarette Stocks

Shares of cigarette companies declined following the imposition of additional excise duty effective from 1 February.

• Godfrey Phillips dropped 5.5% to ₹1,885, the steepest fall among peers.
• VST Industries fell 2.6%.
• ITC shares declined 2.2%.

The market’s recovery today reflects a renewed investor confidence in large-cap and auto sectors, although specific taxation measures continue to affect select industries like cigarettes.