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Weak trade continues over Dalal Street
Feb-05-2026

Weak trade continued over the Dalal Street in morning deals, amid a weak trend in global stock markets. Sentiments remained weak as investors’ focus shifted to Friday’s RBI interest rate announcement. Traders overlooked GeM CEO Mihir Kumar’s statement that the procurement of goods and services from the Government e-Marketplace (GeM) has crossed Rs 4 lakh crore so far this fiscal with over 50 lakh buying and selling orders by various ministries and departments. Meanwhile, India and the Gulf Cooperation Council (GCC), a group of six Middle Eastern countries, are likely to sign terms of reference on February 05, 2026 to start talks on a free trade agreement (FTA). On the global front, Asian markets are trading lower following the mixed cues from Wall Street overnight, reflecting the continued weakness in technology stocks which mirrored their peers on the tech-heavy Nasdaq amid valuation concerns. 

The BSE Sensex is currently trading at 83465.38, down by 352.31 points or 0.42% after trading in a range of 83313.46 and 83784.17. There were 8 stocks advancing against 22 stocks declining on the index.

The few gaining sectoral indices on the BSE were IT up by 0.15% and Oil & Gas up by 0.01%, while Metal down by 1.92%, Consumer Durables down by 1.53%, Capital Goods down by 1.44%, Basic Materials down by 1.19% and Realty down by 1.16% were the top losing indices on BSE.

The top gainers on the Sensex were Trent up by 1.01%, Hindustan Unilever up by 0.81%, SBI up by 0.77%, TCS up by 0.68% and Tech Mahindra up by 0.40%. On the flip side, Interglobe Aviation down by 2.40%, Eternal down by 1.77%, Asian Paints down by 1.60%, Bharat Electronics down by 1.56% and Titan Company down by 1.20% were the top losers.

Meanwhile, India and the Gulf Cooperation Council (GCC), a group of six Middle Eastern countries, are likely to sign terms of reference on February 05, 2026 to start talks on a free trade agreement (FTA). The terms of reference (ToR) outline the scope and modalities of a proposed trade pact. GCC is a union of six countries in the Gulf region -- Saudi Arabia, the UAE, Qatar, Kuwait, Oman and Bahrain. 

India has already implemented a free trade pact with the UAE in May 2022. India and Oman also signed a Comprehensive Economic Partnership Agreement (CEPA) in Muscat on December 18, 2025. The initiation of FTA talks with the GCC would be a kind of resumption of the negotiations, following two earlier rounds held in 2006 and 2008 between the regions. The third round did not happen after the GCC postponed negotiations with all countries and economic blocs.

India's exports to the GCC rose by about one per cent to about $57 billion in 2024-25 against $56.32 billion in 2023-24. Imports surged by 15.33 per cent to $121.7 billion in 2024-25 from $105.5 billion in 2023-24. India's main imports from Gulf nations like Saudi Arabia and Qatar include crude oil and natural gas. On the other hand, India exports products such as pearls, precious and semi-precious stones, metals, imitation jewellery, electrical machinery, iron and steel, and chemicals to these countries.

The CNX Nifty is currently trading at 25646.70, down by 129.30 points or 0.50% after trading in a range of 25612.90 and 25757.65. There were 17 stocks advancing against 33 stocks declining on the index.

The top gainers on Nifty were Trent up by 1.38%, Hindustan Unilever up by 0.92%, Dr. Reddy's Lab up by 0.87%, SBI up by 0.82% and TCS up by 0.70%. On the flip side, Hindalco down by 3.55%, Interglobe Aviation down by 2.37%, Tata Motors Passenger down by 2.04%, Eternal down by 1.70% and Asian Paints down by 1.53% were the top losers.

Asian markets are trading lower; Nikkei 225 slipped 477.36 points or 0.88% to 53,816.00, Taiwan Weighted lost 375.5 points or 1.16% to 31,914.31, Jakarta Composite plunged 5.24 points or 0.06% to 8,141.48, Shanghai Composite weakened 45.46 points or 1.11% to 4,056.74, KOSPI dropped 183.20 points or 3.41% to 5,187.90, Hang Seng declined 349.32 points or 1.3% to 26,498.00 and Straits Times fell 15.21 points or 0.31% to 4,950.29. 
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