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Key gauges end higher; Nifty settles near 25,100 mark
Feb-02-2026

Indian equity benchmarks rebounded on Monday on value buying in blue-chip Utilities, Power and Auto shares after facing a massive drubbing on the Budget day following a hike in securities transaction tax on equity derivatives. A sharp decline in global crude oil prices offered relief to the markets.

Some of the important factors in trade: 

Budget shows govt’s continued commitment towards maintaining macro stability: Fitch Ratings has said that India's Union Budget shows the government’s continued commitment towards maintaining macro stability through a gradual path of government debt reduction balanced against a still-robust capex program to enhance growth prospects. 

Indian manufacturing growth bounces back in January: The seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index (PMI) surged to 55.4 in January 2026 from 55.0 in December 2025, indicating a stronger improvement in the health of the sector.

Rupee rises against US Dollar: Indian rupee gained against the US dollar, a day after the Union Budget 2026-27 was presented, largely as crude oil prices retreated from their elevated levels.

Tyre industry’s stocks in watch: Automotive Tyre Manufacturers Association (ATMA) said the Indian tyre industry stands to gain from the government's steps to enhance spending on infrastructure announced in the Union Budget 2026-27. 

Global front: European markets were trading higher as data showed German retail sales rose 0.1 percent on a monthly basis in December, reversing November's 0.5 percent drop. Asian markets settled lower as lingering trade tensions along with renewed uncertainty over U.S. monetary policy and ongoing heavy selling in the precious metals space spurred risk aversion.

Finally, the BSE Sensex rose 943.52 points or 1.17% to 81,666.46 and the CNX Nifty was up by 262.95 points or 1.06% to 25,088.40.   

The BSE Sensex touched high and low of 81,732.25 and 80,387.25 respectively. There were 25 stocks advancing against 5 stocks declining on the index.        

The top gaining sectoral indices on the BSE were Utilities up by 2.66%, Power up by 2.54%, Auto up by 1.98%, Energy up by 1.98% and Oil & Gas up by 1.92%, while IT down by 0.69%, TECK down by 0.25% and Healthcare down by 0.09% were the top losing indices on BSE.

The top gainers on the Sensex were Power Grid Corporation up by 7.61%, Adani Ports &SEZ up by 4.76%, Bharat Electronics up by 3.33%, Reliance Industries up by 3.28% and Mahindra & Mahindra up by 2.97%. On the flip side, Axis Bank down by 2.00%, Infosys down by 1.85%, TCS down by 0.52%, Trent down by 0.47% and Titan Company down by 0.27% were the top losers.

Meanwhile, Commerce and Industry Minister Piyush Goyal has said that India has concluded eight free trade agreements (FTAs) over the past few years, covering 37 developed countries.  Moreover, he said India is actively engaged in dialogue for similar agreements with several countries, including Chile, Peru and Canada.

He said that trade negotiations with Chile are nearing completion, where India has interests in critical minerals. He highlight since 2014, India has finalised eight trade pacts -- Mauritius (April 2021 implemented), Australia (December 2022 implemented), UAE (May 2022 implemented), Oman (signed in December 2025), UK (signed in July 2025), EFTA (implemented in October 2025 - Switzerland, Iceland, Liechtenstein, Norway), New Zealand (talks concluded in December 2025), and the European Union (27-nation bloc).

Further, he stated that negotiations for a trade pact have begun with the Mercosur group of countries to expand the existing preferential trade agreement (PTA). The Mercosur trade bloc members are Argentina, Brazil, Paraguay and Uruguay. Besides, the Gulf Cooperation Council (GCC), a group of six nations from the Middle Eastern region, has also expressed interest to start and launch negotiations for a free trade agreement with India.

CNX Nifty touched high and low of 25,108.10 and 24,679.40 respectively. There were 39 stocks advancing against 11 stocks declining on the index.    

The top gainers on Nifty were Power Grid Corporation up by 7.42%, Tata Motors Passenger up by 5.61%, Adani Ports &SEZ up by 4.28%, Bharat Electronics up by 3.63% and Tata Consumer Product up by 3.11%. On the flip side, Shriram Finance down by 3.17%, Axis Bank down by 2.33%, Max Healthcare down by 1.82%, Infosys down by 1.66% and Cipla down by 1.08% were the top losers.

European markets were trading higher; UK’s FTSE 100 increased 5.46 points or 0.05% to 10,229.00, France’s CAC rose 16.87 points or 0.21% to 8,143.40 and Germany’s DAX gained 131.39 points or 0.54% to 24,670.20. 

Asian markets settled lower on Monday tracking Wall Street’s fall last Friday after the US President Donald Trump nominated Kevin Warsh to be the next chair of the Federal Reserve, and a reading on US inflation was stronger than expected. Besides, renewed tariff worries from Donald Trump and ongoing heavy selling in metals have also dampened market sentiments. Meanwhile, investors also looked ahead to the release of key US jobs data as well as central bank decisions in Australia, Europe and London for direction. The South Korean Kospi index broke the 5,000 psychological resistance level despite global uncertainty over US monetary policy and concerns about an AI sector bubble. Japan’s Nikkei fell as investors braced for the February 8 snap lower house election and ignored the results of a private-sector survey that showed Japan's manufacturing activity grew at the fastest pace in about three and a half years in January. Conversely, export-linked shares gained after Prime Minister Sanae Takaichi said over the weekend that a weak yen could be a major opportunity for export industries. Chinese and Hong Kong shares tumbled as troubled property developer China Vanke warned of a $11.8 billion net loss for 2025 and electric vehicle giant BYD reported a 30.1% year-on-year fall in vehicle sales for January.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

4,015.75

-102.20

-2.48

Hang Seng

26,775.57

-611.54

-2.23

Jakarta Composite

7,922.73

-406.88

-4.88

KLSE Composite

--

--

--

Nikkei 225

52,655.18

-667.67

-1.25

Straits Times

4,892.27

-12.86

-0.26

KOSPI Composite

4,949.67

-274.69

-5.26

Taiwan Weighted

31,624.03

-439.72

-1.37
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