On Sunday, the Indian markets closed in the red. It was a special trading day on Budget Day. Nifty 50 opened at 25,333.75, reaching a high of 25,440.90 and closing at 24,825.45, down by 1.96%. Similarly, the BSE Sensex opened at 82,388.97, reached a high of 82,726.65, and ended at 80,722.94, down by 1.88%.Reasons for the negative sentimentThe following are the reasons for the negative sentiment:Weaker cues from the global markets.Due to the negative investor sentiment after the Union Budget 2026.The India VIX, a measure of market volatility and investor uncertainty, rose by more than 17% to 15.66.Major Indices Today IndicesLTPPrev closeChangeNifty 5024,825.4525,320.65-1.96%BSE Sensex80,722.9482,269.78-1.88%Next 5066,360.5567,839.85-2.18%Bank Nifty58,417.2059,610.45-2.00%Fin Nifty26,699.1027,330.85-2.31% Nifty 50, Sensex, and Nifty Next 50 traded in the red, dragged down by losses in Banking, Metal, and Energy stocks.Nifty Bank traded lower, dragged down by PSU Bank stocks after Finance Minister Nirmala Sitharaman proposed in the Union Budget the establishment of a high-level committee to conduct a comprehensive review of the Indian banking sector.Sectoral Indices Today IndicesLTPPrev closeChangeNifty IT38,252.9538,036.150.57%Nifty Auto26,190.6526,750.35-2.09%Nifty FMCG50,042.8051,215.20-2.29%Nifty Pharma21,535.3021,715.10-0.83%Nifty Healthcare13,802.3013,893.85-0.66%Nifty Oil & Gas11,454.3011,791.70-2.86% Nifty IT traded higher following the Finance Minister's proposal in Budget 2026 to extend a tax holiday until 2047 for foreign companies that provide cloud services globally using data centres in India.Nifty Auto traded lower amid profit booking after the recent rally.Nifty FMCG traded lower due to broader market sentiment.Nifty Pharma traded in red amid profit booking after a sharp rally today, after the Union Finance Minister Nirmala Sitharaman announced a major push to position India as a global biopharma manufacturing hub in the Union Budget 2026.Nifty Oil and Gas continued to trade in the red amid a decline in crude oil prices.Market Movers Today Shares of Power Finance Corporation and REC rose by 4.1% and 4.33%, respectively, after the Finance Minister in the Union Budget proposed restructuring the organisations to improve efficiency and strengthen power-sector financing.Mining stocks, like GMDC and Orissa Minerals Development Company, rose by 7% and NMDC by 2% after the Union Finance Minister Nirmala Sitharaman proposed to support the mineral-rich states of Odisha, Kerala, Andhra Pradesh, and Tamil Nadu to establish rare earth corridors to promote mining, research, and manufacturing.Shares of BSE, Angel One, and Groww dropped by 10% after Finance Minister Nirmala Sitharaman proposed to raise Securities Transaction Tax (STT) on futures to 0.05% and on options to 0.15% in the Union Budget 2026.Metal stocks, namely Hindustan Copper, NALCO, Hindustan Zinc, and Vedanta, dropped by 19%, 14.5%, 13.5%, and 10%, respectively, as precious metals continued to crash for the third consecutive session.Top Gainers Company NameLTPPrev CloseChangeAmber Enterprises5,993.005,716.004.85%One 97 Communications1,158.801,137.501.87%Kalyan Jewellers368.90361.652.00%Kaynes Technology India3,560.103,475.402.44%Wipro241.80236.902.07% Top Losers Company NameLTPPrev CloseChangeMCX2,233.302,528.00-11.66%Hindustan Zinc570.10628.50-9.29%Bharat Dynamics1,384.101,538.20-10.02%NALCO354.20385.45-8.11%Muthoot Finance3,493.103,829.60-8.79% 52W High Stocks Company NameLTP52W highChangeState Bank of India1,018.201,083.60-5.47%Axis Bank1,340.401,384.90-2.19%Bharat Electronics425.35461.65-5.27%Oil India501.80522.50-1.62%MTAR Technologies3,086.203,150.005.28% 52W Low Stocks Company NameLTP52W lowChangeITC309.45306.05-3.94%Indian Hotels Company664.30627.20-1.46%SBI Cards737.35725.60-2.15%Patanjali Foods495.75484.00-0.93%IRCTC606.35600.00-2.68% High Volume Stocks Today Company NameLTPPrev CloseChangeVodafone Idea10.8711.17-2.69%IRFC113.54120.10-5.46%Suzlon Energy46.1747.67-3.15%Yes Bank21.1421.41-1.26%Vedanta655.15681.55-3.87% Market AnnouncementsMeesho shares dropped by 5% to hit a lower circuit after the company reported a 12 times annual increase in loss of ₹490.7 crore for Q3 FY26. Shares of digital payment companies, such as One97 Communications, rose by 5%, while One Mobikwik Systems rose by 4% after the government announced a ₹2,000 crore incentive scheme for Unified Payments Interface (UPI) and RuPay debit card transactions in the Union Budget 2026.