**Indian Market Brief: Post-Budget Rebound** **Date: February 2, 2026** Indian equity markets staged a robust recovery on Monday, wiping out losses from the special Budget-day trading session. Investors shrugged off the steep hike in Securities Transaction Tax (STT) on derivatives announced in the Union Budget 2026, shifting focus to value buying and broader economic stability. **Benchmark Performance** The **BSE Sensex** surged **943.5 points** (+1.17%) to close at **81,666.46**, reclaiming the 81k mark. The **Nifty 50** followed suit, advancing **261 points** (+1.06%) to settle at **25,088.4**, comfortably crossing the psychological 25,000 level. **Key Drivers & Market Sentiment** * **Resilience Against Tax Hikes:** The rally defied the government's proposal to raise STT on Futures (from 0.02% to **0.05%**) and Options (from 0.1% to **0.15%**), a move intended to curb speculative trading. * **Broad-Based Recovery:** Buying interest was widespread, with **14 of 16** major sectoral indices logging gains. Small-cap and mid-cap indices rose **0.6%** and **1%** respectively, indicating returned risk appetite. * **Rupee Strength:** The Indian Rupee strengthened by **37 paise** to **91.56** against the US dollar, supported by retreating crude oil prices. **Top Movers** * **Gainers:** Heavyweights like **Reliance Industries**, **Larsen & Toubro**, and **Adani Ports** led the charge, with gains of up to **2.8%**. * **Laggards:** Consumption stocks faced pressure, with **Titan**, **ITC**, and **Hindustan Unilever** trading in the red. **Sectoral Highlights** * **Biopharma & Healthcare:** Continued momentum following the Budget's **₹10,000 crore** allocation for the Biopharma Shakti initiative. * **Data Centers & AI:** Tech stocks saw traction after tax holidays were proposed for foreign companies providing cloud services via Indian data centers. This session marks a swift turnaround from the sharp sell-off seen on Sunday, signaling that the market has largely priced in the new fiscal measures.