Indices may open lower on Feb 03, 2025

3 Feb 2025 , 09:23 AM

Indian benchmark indices may open gap down on Feb 03, 2025. The GIFT Nifty trading around 23,382, 209 points down from the previous close.

On Budget Day, Indian equity indices closed flat on February 1. The key announcements by Finance Minister Nirmala Sitharaman, including an income tax relief package.

This was her eighth consecutive Union Budget. It offers tax relief to the lower and middle class while boosting consumption. The fiscal deficit target for FY26 was set at 4.4%.

At the close, the Sensex gained 5.39 points (0.01%) to reach 77,505.96. On the contrary, Nifty fell 26.25 points (0.11%) to 23,482.15.

Global markets:

Asian markets opened lower amid tariffs levied on Canada, China and Mexico by US President Donald Trump.

The US markets also closed lower on Friday over the tariff loom. The Dow Jones Industrial Average dropped 337.47 points (0.75%) to 44,544.66. The S&P 500 declined 30.64 points (0.50%) to 6,040.53. Meanwhile the Nasdaq Composite fell 54.31 points (0.28%) to 19,627.44.