The BSE Sensex, which closed at ₹83,817.69 in the previous session, opened at ₹83,757.54 and declined to ₹83,381.35 by 9:50 am, down 436.34 points or 0.52 per cent. The NSE Nifty 50 fell to ₹25,639.85 from its previous close of ₹25,776.00, losing 136.15 points or 0.53 per cent. | Photo Credit: iStockphoto
Benchmark indices opened lower on Thursday morning, weighed down by weakness in information technology stocks, though select consumption-driven stocks provided support. The BSE Sensexwhich closed at ₹83,817.69 in the previous session, opened at ₹83,757.54 and declined to ₹83,381.35 by 9:50 am, down 436.34 points or 0.52 per cent. The NSE Nifty 50 fell to ₹25,639.85 from its previous close of ₹25,776.00, losing 136.15 points or 0.53 per cent.
“There are a few near-term market trends that are significant. The Nifty appears to be in a consolidation phase without big moves at the index level,” said Dr VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited. “However, there are big changes within the Nifty stocks with big declines in IT stocks consequent to the IT sell off in the US spreading to India, too.”
The technology sector faced selling pressure following concerns about Anthropic’s new automation tools. “The sell off has been triggered by Anthropic’s new automation tools that the market fears may replace IT services that are currently outsourced,” Vijayakumar explained. “The market fears significant margin pressure for Indian IT companies. What the real impact will be remains to be seen.”
Among the top gainers on the Nifty 50, Hindustan Unilever led with a rise of 1.25 per cent to ₹2,400.60, followed by Jio Financial Services up 0.67 per cent at ₹269.80, Trent gaining 0.62 per cent to ₹4,037.30, ONGC advancing 0.56 per cent to ₹268.45, and State Bank of India climbing 0.54 per cent to ₹1,074.00.
On the losing side, Hindalco fell 3.15 per cent to ₹934.60, followed by Tata Motors DVR down 2.46 per cent at ₹366.20, IndiGo declining 2.15 per cent to ₹4,854.00, Shriram Finance losing 2.14 per cent to ₹977.40, and Bharat Electronics Limited dropping 1.92 per cent to ₹430.75.
“In contrast to the weakness in IT stocks, the large domestic consumption-driven segments are doing well and this is reflected in the resilience of leaders like RIL, Bharti, the banking majors and some auto stocks,” Vijayakumar noted. “After the growth-oriented Budget and trade deals with the EU and US, India’s growth will remain strong facilitating strong domestic consumption.”
Shrikant Chouhan, Head Equity Research at Kotak Securities, highlighted the market’s technical position. “From a technical perspective, after a subdued opening, the market traded within the range of 25,600/83100 to 25,800/83900 throughout the session,” he said. “Our view is that, on the upside, the key resistance levels are around 25,800/83900 or the 50-day Simple Moving Average.”
Foreign institutional investors turned net buyers on February 4, purchasing equities worth ₹29.8 crore, while domestic institutional investors continued their buying streak, investing over ₹249 crore during the session.
“If the cessation of selling and marginal buying by FIIs becomes a trend, the market will gain strength. This is the data point to watch for,” Vijayakumar added.
Hitesh Tailor, Research Analyst at Choice Equity Broking Private Limited, cautioned traders on market conditions. “Given ongoing global uncertainties and elevated market volatility, traders are advised to remain selective and disciplined, focusing on fundamentally strong stocks during market corrections,” he said.
The auto sector remained supported by the low-interest rate regime. “The low-interest rate regime continues to support the growth of the auto sector and is likely to spill over into segments like air conditioners as summer approaches,” Vijayakumar said.
Published on February 5, 2026