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Bourses continue to trade higher in late afternoon deals
Feb-02-2026

Indian bourses continued to trade higher in late afternoon deals as bargain hunters opted to pick up beaten down fundamentally good stocks following the recent pull back by the markets. Besides, investors have shrugged off STT hike and remained optimistic about Union Budget for 2026-27 which focuses on long-term growth. The Budget has proposed measures to boost manufacturing, agriculture, tourism, a 20-year tax holiday for global data centres and sustained infrastructure spending. Moreover, decline in global crude oil prices and rupee appreciating against dollar have kept the sentiments upbeat.

On the global front, all Asian equity markets were trading lower as lingering trade tensions along with renewed uncertainty over U.S. monetary policy spurred risk aversion. European equity markets were trading mostly in red as global rout in metal and energy prices weighed on commodity-related stocks. 

The BSE Sensex is currently trading at 81226.06, up by 503.12 points or 0.62% after trading in a range of 80387.25 and 81347.59. There were 21 stocks advancing against 9 stocks declining on the index.

The top gaining sectoral indices on the BSE were Utilities up by 1.81%, Power up by 1.66%, Auto up by 1.29%, Energy up by 1.13% and Oil & Gas up by 1.09%, while IT down by 1.16%, Healthcare down by 0.88%, TECK down by 0.74%, Telecom down by 0.64%, Bankex down by 0.19% were the top losing indices on BSE.

The top gainers on the Sensex were Power Grid Corporation up by 6.89%, Adani Ports & SEZ up by 3.87%, Reliance Industries up by 2.69%, Larsen & Toubro up by 2.39% and Mahindra & Mahindra up by 2.32%. On the flip side, Infosys down by 2.47%, Axis Bank down by 2.22%, Titan Company down by 1.50%, Trent down by 1.25% and Bajaj Finance down by 1.02% were the top losers.

Meanwhile, IT Minister Ashwini Vaishnaw has said that he expects $200 billion investment to flow into data centres following the Union Budget proposed a 20-year tax holiday for foreign cloud service providers using data centres in India and rationalised the safe harbour framework for IT firms. The budget also includes a unified 15.5% safe harbour margin for all sub-sets of IT services and enhanced safe harbour thresholds. The long-term incentives to foreign cloud and tech giants are expected to turbocharge investments in cutting-edge data facilities and digital infrastructure.

Vaishnaw stated that this seen as bolstering India’s competitive advantage in the international AI landscape at a time when New Delhi is keen to take centre stage in global discourse on Artificial Intelligence. Meanwhile, the industry body, Nasscom highlighted that the budget makes an important intervention to strengthen India's cloud and digital infrastructure ecosystem. Besides, the 20-year tax holiday is expected to attract long-term global investment and support the expansion of India's compute capacity. 

It added that the focus on cloud infrastructure and long-term clarity for cloud services directly addresses a core constraint in scaling enterprise platforms, the ability to run regulated, data-intensive workloads with confidence and continuity. As India speeds to build digital infrastructure on a global scale, it has seen a surge of major data centre investment commitments over the past year. The tech giants like Google have pledged around $15 billion to establish an AI-ready data centre hub in Andhra Pradesh, while Microsoft is investing $17.5 billion to expand cloud and AI infrastructure in the country.

The CNX Nifty is currently trading at 24939.10, up by 113.65 points or 0.46% after trading in a range of 24679.40 and 24984.45. There were 30 stocks advancing against 20 stocks declining on the index.

The top gainers on Nifty were Power Grid Corp up by 6.78%, Tata Motors Passenger Vehicles up by 5.01%, Adani Ports & SEZ up by 3.49%, Tata Consumer Products up by 2.89% and Reliance Industries up by 2.58%. On the flip side, Shriram Finance down by 5.08%, Max Healthcare Inst down by 2.73%, Axis Bank down by 2.35%, Infosys down by 2.18% and Cipla down by 2.06% were the top losers.

All Asian equity markets were trading lower; Nikkei 225 slipped 505.85 points or 0.96% to 52,817.00, Taiwan Weighted lost 439.72 points or 1.39% to 31,624.03, Jakarta Composite plunged 441.38 points or 5.6% to 7,888.23, Shanghai Composite weakened 102.2 points or 2.54% to 4,015.75, Straits Times fell 15.56 points or 0.32% to 4,889.57, KOSPI dropped 274.69 points or 5.55% to 4,949.67 and Hang Seng declined 668.11 points or 2.5% to 26,719.00.

European equity markets were trading mostly in red; UK’s FTSE 100 decreased 26.18 points or 0.26% to 10,197.36 and France’s CAC fell 15.93 points or 0.2% to 8,110.60, while Germany’s DAX gained 62.49 points or 0.25% to 24,601.30.
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