Last Updated on February 2, 2026 11:37 pm by INDIAN AWAAZ
AMN / BIZ DESK
Domestic equity benchmarks staged a sharp rebound on Monday, recovering a large part of the steep losses witnessed during the volatile Budget session. The BSE Sensex surged 943.52 points, or 1.17 per cent, to close at 81,666.46, while the NSE Nifty climbed 262.95 points, or 1.06 per cent, to settle at 25,088.40. Notably, the Nifty rebounded nearly 429 points from its intraday low, signalling renewed buying interest at lower levels.
The recovery came amid easing concerns over the hike in Securities Transaction Tax (STT) on derivatives and the government’s higher borrowing programme for FY27. Market participants took comfort from policy continuity and the Budget’s emphasis on growth and fiscal discipline, which helped restore medium- to long-term confidence.
On the stock-specific front, Power Grid Corporation emerged as the top gainer on the Nifty50, rallying 7.42 per cent. Auto major Tata Motors (Passenger Vehicles) rose over 5 per cent, while Adani Ports, Bharat Electronics and Tata Consumer Products also posted strong gains. On the downside, select financial, IT and healthcare stocks saw profit-taking, with Shriram Finance, Axis Bank, Infosys and Cipla ending lower.
Sectorally, the mood remained largely positive, barring information technology stocks. Broader markets also mirrored the rebound, with midcap and smallcap indices closing in the green, though market breadth remained slightly weak.
Adding to the positive sentiment, the Indian rupee strengthened sharply against the US dollar, supported by falling crude oil prices, robust foreign exchange reserves and improved fiscal visibility. Brent crude fell over 4 per cent, providing relief to inflation-sensitive sectors.
Technical indicators also pointed to emerging strength, with the Nifty retracing over 60 per cent of its Budget-day decline. However, analysts cautioned that volatility may persist as investors track quarterly earnings and the upcoming RBI monetary policy decision.
Sector-wise Performance Snapshot
- Power & Utilities: Strong gains led by Power Grid on expectations of stable returns and capex-driven growth.
- Automobile: Nifty Auto surged over 2 per cent, supported by healthy monthly sales data and easing input costs.
- Oil & Gas: Up around 2 per cent, aided by sharp decline in global crude oil prices.
- Capital Markets: Outperformed with a rally of over 3 per cent as bargain buying emerged after Budget-led sell-off.
- FMCG, Metals, Infrastructure & Realty: Posted gains of 1–2 per cent on improved sentiment and macro stability.
- IT: The only major laggard, slipping about 0.5 per cent due to valuation concerns and cautious global tech outlook.
- https://biznama.com/share-bazar-feb-2-budget-4321/