Market breadth remained weak, with 2,756 stocks declining against 1,278 advancing on the BSE, where 4,218 stocks were traded. | Photo Credit: istock.com
Benchmark indices staged a recovery on Monday afternoon, reversing subdued opening trades to climb into positive territory as investors regained composure following the sharp Budget-led sell-off from the previous session. The BSE Sensex rose 583.49 points or 0.72 per cent to 81,306.43, while the NSE Nifty gained 133.05 points or 0.54 per cent to 24,958.50 as of 1.10 pm.
The indices opened lower, with the Sensex starting at 80,555.68 against its previous close of 80,722.94, and the Nifty opening at 24,796.50 against 24,825.45. However, steady buying interest through the session lifted both benchmarks into positive territory by early afternoon.
TMT Power and Infra led Nifty gainers with a surge of 4.35 per cent to ₹359.65, followed by Power Grid Corporation which jumped 4.12 per cent to ₹261.70. Adani Ports climbed 3.31 per cent to ₹1,389.40, Tata Consumer Products advanced 3.21 per cent to ₹1,122.20, and Reliance Industries gained 2.70 per cent to ₹1,383.40.
On the losing side, Shriram Finance declined 5.05 per cent to ₹947.20, emerging as the top Nifty loser. Max Healthcare fell 2.77 per cent to ₹949.65, Cipla dropped 2.14 per cent to ₹1,300.50, Axis Bank slipped 1.66 per cent to ₹1,318.10, and Infosys declined 1.39 per cent to ₹1,631.50.
Market breadth remained weak, with 2,756 stocks declining against 1,278 advancing on the BSE, where 4,218 stocks were traded. A total of 310 stocks hit 52-week lows compared to 68 touching 52-week highs, while 211 stocks were locked in lower circuits against 163 in upper circuits.
Sectoral indices showed mixed performance, with Nifty Next 50 down 0.12 per cent at 66,278.65, Nifty Financial Services declining 0.21 per cent to 26,644.20, and Nifty Bank falling 0.33 per cent to 58,224.45. Mid and small-cap indices underperformed, with Nifty Midcap 100 down 0.44 per cent at 56,870.95 and Nifty Smallcap 100 sliding 0.90 per cent to 16,270.80.
Amnish Aggarwal, Director of Institutional Research at PL Capital, said the Budget carried forward focus on infrastructure, renewables, defence, logistics clusters, tourism, value-added farming and data centers which would help sustain strong growth momentum. He added that while markets were spooked by lack of direct announcements, increased STT rates on F&O and dashed hopes of LTCG reduction, a bottom-up approach would be better to navigate current uncertainty, remaining constructive on banks, NBFCs, automobiles, select staples, jewellery, select durables, hospitals, defence, ports and telecom stocks.
Published on February 2, 2026