The benchmark Sensex declined 319 points to end at 77,187, while the Nifty fell 121 points to settle at 23,361. Broader market sentiment remained weak as midcap stocks underperformed, with the Nifty Midcap index slipping 497 points to 52,

The major stock indexes closed lower on Monday, but partly recovered from initial steeper losses as U.S. President Donald Trump delayed tariffs on Mexico after his orders to levy tariffs on three countries sparked a global scramble to safe-haven assets earlier in the day.

LIVE: Benchmark equity indices BSE Sensex and Nifty50 were opened higher on Tuesday, as investors kept an eye on tariff-related developments in the US

Nifty 50 and Sensex made wild swings on February 1 as the Finance Minister delivered her 8th Union Budget. Buying in FMCG shares supported both benchmarks but selling in spaces like IT played spoilsport.

The BSE Sensex rose 718.07 points, or 0.93 per cent, to 77,904.81. Nifty stood at 23,560.25, up 199.20 points or 0.85 per cent. Larsen & Toubro Ltd (L&T) rose 2.65 per cent to Rs 3,374.35.

The stock exchanges are open today, February 1, for a special trade session as the Finance Minister Nirmala Sitharaman will table the Union Budget 2025 in Parliament today. Indian benchmark indices Nifty 50 and Sensex ended the previous trade session higher.

India's benchmark indices, Sensex and Nifty, rallied on Friday, with Sensex gaining over 450 points and Nifty surpassing 23,400. L&T surged by 4.4 per cent after announcing record new orders, contributing significantly to the rise.

The Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) will remain open on February 1 despite it being a Saturday, due to the Union budget presentation.