Indian equity markets extended their consolidation phase with a positive undertone, even as IT stocks came under sharp selling pressure. Traders remained cautious amid concerns that US markets hovering near record highs could see near-term corrections.
Despite heavy sectoral churn, volatility stayed muted, with INDIA VIX cooling to 12.43, signalling a calm broader market sentiment.
📌 Benchmark Indices (3:30 PM Close)
- NIFTY 50: ▲ +48 pts | 25,776
- SENSEX: ▲ +79 pts | 83,818
- BANK NIFTY: ▲ +197 pts | 60,238
🔍 Key Market Takeaways
- Nifty IT plunged ~6%, emerging as the biggest drag on the market.
- Persistent selling in IT continues to cap optimism from the India–US trade deal.
- IT stocks faced aggressive sell-offs amid a global tech rout, after AI firm Anthropic unveiled advanced automation tools, raising fears of AI-led disruption to traditional licence-based IT business models 🤖.
- Despite IT weakness, broader market resilience remained intact, supported by value buying in mid- and small-cap stocks.
⏭️ What’s Next? Key Trigger Ahead
The next major catalyst will be the RBI Monetary Policy Committee (MPC) decision, scheduled for Friday, February 6, under the leadership of Governor Sanjay Malhotra.
Markets are expected to stay cautious ahead of the policy outcome, especially amid global tech volatility and evolving macro cues.
🧭 Market Strategy – Bottom Line
Near-term market action is expected to remain range-bound with stock-specific opportunities, as investors balance structural bullish cues against sectoral headwinds from IT and global technology volatility.
👉 Buying on dips remains the preferred strategy in quality names.
🏭 Sectoral Performance
✅ Top Performing Sectors
- NIFTY CONSUMER DURABLES: ▲ +2.66%
- NIFTY OIL & GAS: ▲ +2.08%
- NIFTY AUTO: ▲ +1.18%
❌ Sectoral Losers
- NIFTY IT: ▼ −5.87%
- NIFTY PHARMA: ▼ −0.34%
- NIFTY HEALTHCARE: ▼ −0.13%
📊 Market Internals
- Advance–Decline Ratio: 37 : 13
- INDIA VIX: 12.43 (▼ −3.64%)
- NIFTY PCR (10 Feb): 0.97
- NIFTY PCR (24 Feb): 1.20
- USD/INR Futures (Feb): ▲ +0.17% at 90.50
📰 Today’s Market Recap
1️⃣ Nifty Performance
- Nifty rose +0.19%, rebounding smartly from morning weakness.
- Bulls shrugged off concerns around the STT hike, betting on the India–US trade deal-led risk-on theme.
- Nifty previously touched an all-time high of 26,373.20 on Jan 5, 2026.
- The index remains comfortably above key moving averages, keeping the broader trend positive.
2️⃣ Bank Nifty
- Bank Nifty gained +0.33%, mirroring Nifty’s rebound.
- Earlier recorded a lifetime high of 61,764.85.
3️⃣ Market Breadth
- Strongly positive at 38:12, favouring bulls 🟢.
4️⃣ Broader Markets Outperform
- Nifty Midcap: ▲ +0.63%
- Nifty Smallcap: ▲ +1.27%
⭐ Stocks in Spotlight
- Hindustan Aeronautics (HAL): ▼ −5.74% | ₹4,214
- Stock declined after reports suggested HAL was not shortlisted for the AMCA fighter jet programme.
- Emcure Pharma: ▲ +1.71% | ₹1,532
- Q3 net profit surged 50% YoY to ₹230.5 crore.
- Bajaj Finance: ▼ −0.04% | ₹964
- Q3 FY26 consolidated net profit at ₹2,229 crore, marginally lower YoY.
🐂 Bulls & 🐻 Bears of the Day
🐂 Bulls
- TRENT ▲ +5.18%
- ETERNAL ▲ +4.90%
- ONGC ▲ +3.50%
- NTPC ▲ +2.30%
- ADANIPORTS ▲ +2.25%
🐻 Bears
- INFY ▼ −7.37%
- TCS ▼ −6.99%
- HCLTECH ▼ −4.58%
- TECHM ▼ −4.52%
- WIPRO ▼ −3.79%
🚀 Fresh 52-Week Highs & Lows
🔺 New 52-Week Highs
- ADANIPORTS: CMP ₹1,565.20 | High ₹1,572.30
- ASHOK LEYLAND: CMP ₹201.15 | High ₹205.19
- JINDAL STEEL: CMP ₹1,163.80 | High ₹1,180.50
🔻 New 52-Week Lows
- MEESHO: CMP ₹148.60 | Low ₹144.76
- WIPRO: CMP ₹233.50 | Low ₹226.26
📈 View for Thursday’s Trade
Nifty staged a healthy rebound from intraday lows, highlighting strong dip-buying interest.
- Immediate Support: 25,641 / 25,489
- Resistance: 26,000 / 26,373
- Expected Range: 25,655 – 25,899
👉 Buying on dips remains the preferred approach.
🔢 All About Nifty (CMP: 25,776)
- Support: 25,641 / 25,489
- Resistance: 26,000 / 26,373
- 21 DMA: 25,512
- 50 DMA: 25,819
- 200 DMA: 25,239
- Trend: Positive 📈
💡 Stock Ideas
✅ Bullish (Short–Medium Term)
- ADANIPORTS
- BAJAJ FINANCE
- COAL INDIA
🌱 Bullish (Long Term)
- CENTUM
- ADANI ENERGY SOLUTIONS
- UPL
❌ Bearish
- COFORGE
- INFOSYS
- TCS
⚠️ Stocks to Avoid
- PG ELECTROPLAST
- LIC HOUSING FINANCE
- BSE LTD
⚠️ Disclaimer
This market update is for educational and informational purposes only and does not constitute investment advice. Stock market investments are subject to market risks. Past performance is not indicative of future results. Investors should consult their SEBI-registered financial advisor before making any trading or investment decisions.