The Indian stock market benchmarks, the Sensex and the Nifty 50, clocked strong gains on Monday, February 2, snapping their two-day losing run.
The Sensex closed at 81,666.46, rising 944 points, or 1.17%, while the Nifty 50 settled at 25,088.40, up 263 points, or 1.06%. The mid and small-cap indices, which were in the red for most of the day, also ended higher. The BSE 150 MidCap Index rose by 0.86%, while the BSE 250 SmallCap Index climbed 0.28%.
The across-segment buying lifted the overall market capitalization of BSE-listed firms to ₹455 lakh crore from ₹450.6 lakh crore in the previous session, making investors richer by about ₹4.4 lakh crore in a day.
10 key highlights from the Indian stock market today
1. Why did the Indian stock market rise today?
The domestic market saw healthy gains on Monday as investors shifted focus away from a hike in STT on F&O and took note of the government’s commitment to fiscal consolidation and growth push.
“The market witnessed a smart recovery following yesterday’s volatile session due to the impact of the STT hike on F&O and the government’s higher borrowing plan for FY27. At the same time, the Budget’s policy continuity with a clear emphasis on growth and fiscal prudence has helped reinforce confidence in the medium‑ to long‑term earnings outlook,” Vinod Nair, Head of Research, Geojit Investments Limited, noted.
A sharp decline in global crude oil prices and the rupee’s rise against the dollar also influenced sentiment.
As per a PTI report, the Indian rupee rose 42 paise to close at 91.51 against the US dollar.
2. Top Nifty 50 gainers
As many as 39 stocks ended higher in the Nifty 50 index, among which Power Grid Corporation of India (up 7.42%), Tata Motors Passenger Vehicles (up 5.61%), and Adani Ports and Special Economic Zone (up 4.28%) ended as the top gainers.
3. Top losers in the Nifty 50 index
Shriram Finance (down 3.17%), Axis Bank (down 2.33%), and Max Healthcare Institute (down 1.82%) ended as the top losers in the index.
4. Sectoral indices today
Except for Nifty IT (down 0.47%) and Healthcare (down 0.08%), all sectoral indices ended with healthy gains.
Nifty Auto (up 2.13%), Oil and Gas (up 2.04%), Metal (up 1.88%), Realty (up 1.61%), and FMCG (up 1.16%) clocked strong gains.
Nifty Bank rose 0.35% to end at 58,619. The Financial Services index rose by 0.37%.
5. Most active counters in terms of volume
Vodafone Idea (69.3 crore shares), Tata Silver Exchange Traded Fund (57.9 crore shares), and Tata Gold Exchange Traded Fund (41.8 crore shares) were the most active counters in terms of volume on the NSE.
6. Advance-decline ratio
The advance-decline ratio remained in favor of decliners as over 2,200 stocks declined while over 2,000 advanced on the BSE.
7. 14 stocks jump over 15%
Biofil Chemicals & Pharmaceuticals, United Foodbrands, and Diggi Multitrade were among the 14 stocks that jumped more than 15% on the BSE.
8. Nearly 80 stocks hit 52-week highs
Some 76 stocks, including Aether Industries and MTAR Technologies, hit their 52-week highs on the BSE.
9. 360 stocks hit 52-week lows
As many as 360 stocks, including ITC, Bajaj Holdings & Investment, Havells India, Max Healthcare Institute, and Trent, hit their 52-week lows in intraday trade on the BSE.
10. Nifty’s technical outlook
According to Sudeep Shah, Head – Technical and Derivatives Research at SBI Securities, the zone of 24,930-24,900 will act as immediate support for the Nifty 50, while, on the upside, the zone of 25,170-25,200 will act as a crucial hurdle for the index.
“Any sustainable move above 25,200 will lead to extension of pullback rally to 25,350 level in the short term,” said Shah.
Shrikant Chouhan, Head- Equity Research, Kotak Securities, believes 25,000 and 24,900 will act as immediate support zones. Above these levels, a pullback formation may continue, with the index potentially moving up to 25,250 or the 200-day simple moving average (SMA). Further upside could also push the market towards 25,350, said Chouhan.
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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
