NSE:ICICIPRAMC News 21 December 2025

February 1, 2026, 8:56 AM EST. Indian equity markets dropped sharply on February 1 during a special trading session tied to the Union Budget. The BSE Sensex declined 2.23% to 80,722.94 points, while the NSE Nifty50 fell 2.33% to 24,825.45. The decline was driven by Finance Minister Nirmala Sitharaman's proposal to increase the Securities Transaction Tax (STT) on derivatives, sparking investor unease. Major laggards in the Sensex included State Bank of India and Adani Ports, down over 5%, while Hindalco plummeted 5.66% in the Nifty50. Market experts noted that higher transaction costs, especially on futures (a margin-traded derivative), could hurt liquidity and participation. Asian and European markets remained closed for holidays, and U.S. markets had ended lower the previous Friday.