New Delhi: Union Finance Minister Nirmala Sitharaman on Sunday presented her ninth consecutive budget. In her 1 hour and 25-minute-long (85-minute) speech, Sitharaman unveiled a set of customs duty measures. Notably, both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) are open today for a special live trading session. Markets are operating during regular hours.
Both the Sensex and the Nifty crashed after Finance Minister Nirmala Sitharaman presented the Union Budget 2026.
Reacting to the market crash, BJP MP Nishikant Dubey said “Share market doesn’t decide much” and that it will recover tomorrow.
“…Share market doesn’t decide much…Customs used to trouble air passengers. Several things have been made exempt and duty has been reduced from 20% to 10%. For aircraft manufacturing here, we have provided ample rebate on components,” he said, speaking to reporters outside Parliament.
#WATCH | On market crash after #UnionBudget, BJP MP Nishikant Dubey says, "…Share market doesn't decide much…Customs used to trouble air passengers. Several things have been made exempt and duty has been reduced from 20% to 10%. For aircraft manufacturing here, we have… pic.twitter.com/VmsfKXWNpD
— ANI (@ANI) February 1, 2026
“So, share market will react on it tomorrow. If it is 2000 points down right now, it will rise a little later. Since investment has to be brought in, banking sector reforms are there too. What you are pointing out in the share market is a matter of STT (Securities Transaction Tax)…It is just a little pressure on players who play with loopholes in share market and it is due to STT. I think it will recover tomorrow,” he added.
Meanwhile, Samajwadi Party chief Akhilesh Yadav launched a scathing attack on the Centre following the presentation of the Union Budget by Finance Minister Sitharaman, calling it a “disappointing and deplorable” exercise after stock markets witnessed a sharp fall. Responding through a series of posts on X, the former Uttar Pradesh chief minister said the market reaction reflected the true outcome of what he termed a “BJP budget”.
आ गया भाजपाई बजट का परिणाम, शेयर मार्केट हुआ धड़ाम।
हमने तो पहले ही कहा था :
– सवाल ये नहीं है कि शेयर बाज़ार रविवार को खुलेगा, सवाल ये है कि और कितना गिरेगा।
– जब भाजपा सरकार से कोई उम्मीद नहीं है, तो उसके बजट से क्या होगी।
– हम तो भाजपा के हर बजट को 1/20 (एक बँटे बीस) का बजट… pic.twitter.com/ZmrGZMkfiX— Akhilesh Yadav (@yadavakhilesh) February 1, 2026
“Here comes the result of the BJP’s budget, the share market has crashed,” Yadav wrote, adding that the real question was not why markets were opened on a Sunday, but “how much further they will fall”. He said there were no expectations from the BJP-led government and therefore none from its budget either.
