Mumbai, Feb 3: India’s stock markets on Monday were trading lower as weak global cues and a decline in Asian markets weighed on investor sentiment.

The benchmark indices, Sensex and Nifty, struggled throughout the day, with most sectors witnessing losses.

At the closing bell, the BSE Sensex had dropped 319.22 points, or 0.41 per cent, to settle at 77,186.74, while the Nifty was down 121.10 points, or 0.52 per cent, to close the trading session at 23,361.05.

The decline in the Indian share market is due to US President Donald Trump’s decision to impose a 25 per cent tariff on imports from Canada and Mexico, along with a 10 per cent duty on Chinese goods.

Trump argues that these measures are necessary to protect American borders and curb illicit activities.

Out of 50 constituent stocks on Nifty, 35 closed in the red as the exchange was in negative territory throughout the trading session.

Heavyweights like Larsen & Toubro, Tata Consumer, Hero MotoCorp, Coal India, and Bharat Electronics are among the top losers on NSE with losses extending up to 4.67 per cent.

On the other hand, 13 stocks managed to stay in positive territory, led by Bajaj Finance, Shriram Finance, Mahindra & Mahindra, Wipro, and Bajaj Finserv, which recorded gains of up to 5.12 per cent.

Most sectors were in the red, except for IT, which went up by 0.39 per cent and consumer durables, which rose 0.33 per cent.

The biggest losers were metal stocks, which fell 3 per cent, and oil & gas stocks, which declined 2.80 per cent.

Other sectors facing pressure included FMCG which was down by 2.14 per cent, PSU Banks was down by 2.02 per cent, and realty declined by 1.20 per cent.

The Nifty Bank index was also under pressure, slipping 0.61 per cent, along with financial services, healthcare, and pharma stocks.

The broader markets also struggled, with the BSE SmallCap index falling 1.85 per cent and the BSE MidCap index losing 1.29 per cent.

Meanwhile, India’s market volatility index, India VIX, rose 2.30 per cent to 14.42.

New Delhi, Feb 3: The steps articulated in the Union Budget are crucial in shaping India’s economic resilience and growth potential in the medium to long term, according to a report on Monday.

The Union Budget 2025-26 displays a balanced approach to sustaining economic growth while reinforcing fiscal prudence.

Finance Minister Nirmala Sitharaman has chosen to stimulate consumption while keeping the focus intact on capex and taking rapid strides towards fiscal consolidation, according to the report by CareEdge Ratings.

“Measures to improve the ease of doing business through deregulation, supporting MSMEs, investments, and exports outline a clear strategy for achieving Viksit Bharat in 2047,” CareEdge Managing Director and Group CEO Mehul Pandya said.

Key tax reforms, including the rationalisation of personal income tax slabs, and the TDS and TCS provisions, aim to simplify compliance and enhance disposable income, fostering consumer confidence.

“No personal income tax for income up to Rs 12 lakhs should provide a big fillip to consumer sentiments and spending,” he mentioned.

Considering the long-term funding needs for the infra sector, the proposal to set up a Partial Credit Enhancement facility for the corporate sector by NaBFID is a welcome step.

Increasing the FDI limit in the insurance sector to 100 per cent is also a step in the right direction. The announcement to establish a High-Level Committee for regulatory reforms reflects a keenness to have a principle-based, light-touch regulatory framework.

The budget’s emphasis on sectors including tourism, healthcare, and manufacturing will catalyse job creation. The continuity in fiscal consolidation, with a budgeted fiscal deficit target of 4.4 per cent for FY26, will help the country move towards debt sustainability. These measures are poised to stabilise the macroeconomic environment, fostering private sector participation and investment.

Prime Minister Dhan-Dhaanya Krishi Yojana will enhance productivity, promote sustainable agriculture, improve storage, irrigation, and credit access across 100 districts, benefiting 1.7 crore farmers in partnership with states.

“Rural Prosperity and Resilience Programme will boost rural employment, create ample opportunities in rural areas, and reduce the necessity of migration. Phase 1 will cover 100 agri-districts,” according to the report.

Mumbai: The Brihanmumbai Municipal Corporation (BMC) is set to unveil its Budget Estimates for 2025-26 on Tuesday, February 4, at 11:00 am in the municipal headquarters’ assembly hall. The budget presentation will begin with the Additional Municipal Commissioner (Eastern Suburbs), Dr Amit Saini, outlining the Education Department’s financial plan to Municipal Administrator Bhushan Gagrani. Following this, Additional Municipal Commissioner (Projects), Abhijit Bangar, will present the overall budget estimates to Gagrani.

Key Infrastructure Projects To Likely Get Good Funds

This will be the third consecutive budget since BMC’s elected general body was dissolved in March 2022, with Gagrani continuing to oversee civic operations. The upcoming budget is expected to prioritise major infrastructure projects, particularly the Mumbai Coastal Road (Phase 2), connecting Versova to Dahisar and the Goregaon-Mulund Link Road (GMLR), as they near completion. Civic officials anticipate substantial allocations to these projects, emphasizing their role in transforming the city’s connectivity.

A key focus of the budget will be the ongoing construction of seven Sewage Treatment Plants (STPs) in Mumbai, a massive initiative costing Rs 30,000 crore. These STPs are critical to improving wastewater management and addressing environmental concerns in the city.

Key Takeaways From Budget 2024-25

Looking back at the 2024-25 budget, BMC refrained from introducing new taxes while presenting a record-high allocation of Rs 59,954.75 crore. It earmarked major funds for major projects, including a Rs 1,200 crore provision for free medicines in civic hospitals.

The health sector saw a notable budget increase, from Rs 6,309 crore in 2023-24 to Rs 7,191 crore in 2024-25, reflecting the corporation’s focus on public healthcare. Other allocations included Rs 340 crore for footpath, lane and bylane upgrades and Rs 100 crore towards enhancing women’s security in the city.

Hopes High From This Year’s Budget

For the 2025-26 budget, civic authorities sought public feedback, receiving around 2,700 responses. Many of these submissions highlighted concerns about the deteriorating quality of BEST bus services, indicating possible budgetary attention to public transport improvements.

With expectations high, the upcoming BMC budget will likely continue its emphasis on large-scale infrastructure projects, healthcare and citizen-focused initiatives, shaping Mumbai’s urban development in the coming year.