Closing Bell: Late buying lifts Sensex 266 points, Nifty near 25,700; FMCG shines

Indian equity indices ended higher with Nifty near 25700 in the volatile session on February 6. At close, the Sensex was up 266.47 points or 0.32 percent at 83,580.40, and the Nifty was up 50.90 points or 0.20 percent at 25,693.70.

That’s all for today’s edition of the Moneycontrol live market blog. We’ll be back on Monday morning with fresh updates, insights, and alerts. Stay tuned to Moneycontrol, and visit https://www.moneycontrol.com/markets/global-indices for all the latest action from global markets.

Indian equity benchmarks ended marginally higher on Friday, with the Nifty closing at 25,693, up 51 points (+0.2%). The market recovered from early losses as selective buying emerged during the latter part of the session. Gains were led by select FMCG, oil and gas and private banking stocks, which saw renewed interest following recent corrections. Broader markets showed weakness, with the Nifty Midcap 100 ending flat and Smallcap 100 slipping 0.3%. Sectoral trends were mixed.

The FMCG index advanced 2.2% led by ITC and HUL, while Consumer Durables rose 1%, offering support to the benchmark. In contrast, IT stocks remained under pressure, extending recent losses, with the index down nearly 9% over the past three sessions amid concerns around the rapid pace of artificial intelligence advancements and continued weakness in global technology stocks following the launch of a new legal AI tool by Anthropic.

On the domestic macro front, the RBI Monetary Policy Committee concluded its first policy review of 2026 by maintaining the repo rate at 5.25% and continuing with a neutral policy stance. The central bank underscored the need to balance easing inflation trends against prevailing global uncertainties, while also noting that recent trade agreements have lent support to the near-term growth outlook.

Gold and silver prices corrected as a stronger U.S. dollar and weakness in market prompted investors to trim exposure to precious metals with the Q3 earnings season approaching its conclusion, stock-specific movements are likely to remain in focus over the weekend, with results awaited from companies such as BSE, SBI, Grasim and more.

Overall, markets may remain range-bound in the near term, with stock specific action on the back of earnings outcomes and lingering global uncertainties. Attention will shift to upcoming U.S. economic data and commentary from Federal Reserve officials for further cues on the global macro environment and interest-rate trajectory.

Market ends higher for second straight week, benchmark indices up 1.5%

Midcap index outperforms, rises 2% with Balkrishna Industries, Nykaa, CG Power being top gainers

Consumer durables & realty stocks are biggest outperformers with sectoral index rising 6% each

The index has been consolidating over the last few sessions. On the lower end, support is placed at 25,500, while on the higher end, resistance is seen around 25,700. In the short term, the index is likely to remain range-bound between 25,500 and 25,700. A decisive breakout on either side of this range could trigger a directional move.

Today, the Indian equity markets ended almost unchanged but slightly higher, after the RBI’s monetary policy helped indices recover from early losses. Markets opened weak due to a global sell-off in technology stocks, which dragged sentiment in the morning. However, buying interest emerged later in the session, allowing the Sensex to close about 0.32% higher, while the Nifty 50 ended in the green, up around 0.2%.

The main reason for this flat but positive close was the RBI MPC decision to keep the repo rate unchanged at 5.25% and maintain a neutral stance. This was fully in line with expectations, so there were no negative surprises for the market. The RBI highlighted strong domestic economic growth, comfortable inflation outlook within the 2-4% range, and an improved external environment after the recent India-US trade deal, which has eased tariff related concerns.

Rate sensitive stocks reacted positively to the policy continuity. Select large private banks and NBFCs saw buying, with stocks like Kotak Mahindra Bank and Bajaj Finance supporting the indices. Defensive stocks such as ITC, Bharti Airtel and Hindustan Unilever also performed well. On the other hand, IT, metal and pharma stocks remained under pressure.

The absence of any hawkish signals from the RBI helped market to stabilize. Going ahead, markets are likely to focus on earnings, post Budget execution and global trends.

Domestic equity markets traded largely subdued through most of the session before staging a late recovery, supported by selective buying in FMCG and private banking stocks. In contrast, the domestic IT sector continued to underperform. The RBI’s policy announcement was broadly in line with expectations, maintaining status quo on interest rates while reiterating a constructive growth outlook. However, markets had anticipated a mildly dovish undertone, which failed to materialise as the RBI retained its neutral stance, resulting in an uptick in India’s 10-year bond yields. On the global front, investor focus remains on US–Iran negotiations with potential implications on crude oil prices, alongside ongoing developments in AI and technology that continue to drive global sectoral rotations.

During the week, the market took support near the 200-day SMA (Simple Moving Average) and bounced back sharply. However, it also registered profit booking at higher levels. Technically, on weekly charts, it has formed a bullish candle and is currently trading comfortably above the 20-day SMA, which is largely positive.

We are of the view that the market has completed one leg of correction, and for short-term traders, 25,500/83,000 and 25,350/82,500 would act as crucial support zones. If the market succeeds in trading above these levels, it could bounce back to 25,800/83,800. A successful breakout of 25,800/83,800 could push the market up to 26,000-26,050/84,500-84,700. On the flip side, a decline below 25,350/82,500 would make the uptrend vulnerable.

For Bank Nifty, the 50 and 20-day SMAs or 59,500 would be key support zones. Above these levels, it could retest 60,500 and 61,000. On the flip side, below 59,500, sentiment could change.

Indian rupee ended lower by 31 paise at 90.66 per dollar on Friday versus Thursday's close of 90.35.

Indian equity indices ended higher with Nifty near 25700 in the volatile session on February 6.

At close, the Sensex was up 266.47 points or 0.32 percent at 83,580.40, and the Nifty was up 50.90 points or 0.20 percent at 25,693.70. About 1800 shares advanced, 2222 shares declined, and 154 shares unchanged.

On the sectoral front, IT index shed 1.5%, pharma index down 0.7%, auto and PSU Bank indices slipped 0.5% each, while FMCG index rose 2.2%, and ol & gas, consumer durables, Private Banks, realty up 0.5% each.

ITC, Kotak Mahindra Bank, Bajaj Finance, Bharti Airtel, HUL were among major gainers on the Nifty, while losers included Tech Mahindra, TCS, HDFC Life, Asian Paints and Bajaj Auto.

Nifty Midcap index ended flat, while smallcap index down 0.3%.

Bharat Electronics was quoting at Rs 430.30, down Rs 2.55, or 0.59 percent.

It has touched an intraday high of Rs 433.20 and an intraday low of Rs 425.70.

It was trading with volumes of 471,247 shares, compared to its five day average of 2,828,436 shares, a decrease of -83.34 percent.

Ashoka Buildcon was quoting at Rs 155.00, up Rs 2.45, or 1.61 percent.

It has touched an intraday high of Rs 156.10 and an intraday low of Rs 149.50.

It was trading with volumes of 33,032 shares, compared to its five day average of 41,797 shares, a decrease of -20.97 percent.

GNA Axles was quoting at Rs 441.15, up Rs 32.20, or 7.87 percent.

It has touched a 52-week high of Rs 455.00.

It has touched an intraday high of Rs 455.00 and an intraday low of Rs 393.05.

#1 Target price at Rs 2,000

#2 EBITDA margin expected to remain stable in the coming quarters

#3 Revenue growth marginally above estimates

Inventurus Knowledge Solutions was quoting at Rs 1,684.20, down Rs 21.20, or 1.24 percent.

It has touched an intraday high of Rs 1,705.95 and an intraday low of Rs 1,660.80.

#1 Structural margin levers in place

#2 Growth on track, margin improvement across BPC & fashion to sustain

#3 Q3 EBITDA ahead of estimates

FSN E-Commerce Ventures Nykaa was quoting at Rs 275.55, up Rs 17.30, or 6.70 percent.

It has touched a 52-week high of Rs 277.

It has touched an intraday high of Rs 277 and an intraday low of Rs 263.55.

The Sensex was up 224.73 points or 0.27 percent at 83,538.66, and the Nifty was up 40.00 points or 0.16 percent at 25,682.80. About 1679 shares advanced, 2138 shares declined, and 134 shares unchanged.

Nazara Technologies was quoting at Rs 257.80, down Rs 19.20, or 6.93 percent.

It has touched an intraday high of Rs 277.55 and an intraday low of Rs 256.90.

It was trading with volumes of 1,201,833 shares, compared to its five day average of 19,281 shares, an increase of 6,133.12 percent.

BEML was quoting at Rs 1,612.55, down Rs 135.70, or 7.76 percent.

It has touched an intraday high of Rs 1,761.95 and an intraday low of Rs 1,572.05.

It was trading with volumes of 84,699 shares, compared to its five day average of 30,767 shares, an increase of 175.29 percent.

Procter and Gamble Hygiene and Health Care was quoting at Rs 11,827.15, up Rs 0.85, or 0.01 percent.

It has touched a 52-week low of Rs 11,565.45.

It has touched an intraday high of Rs 11,998.35 and an intraday low of Rs 11,565.45.

It was trading with volumes of 790 shares, compared to its five day average of 683 shares, an increase of 15.60 percent.

Shilpa Medicare was quoting at Rs 323.75, up Rs 7.20, or 2.27 percent.

It has touched an intraday high of Rs 332.60 and an intraday low of Rs 303.

It was trading with volumes of 29,312 shares, compared to its five day average of 104,176 shares, a decrease of -71.86 percent.

BLS International Services was quoting at Rs 295.10, down Rs 5.30, or 1.76 percent.

It has touched an intraday high of Rs 302.95 and an intraday low of Rs 291.65.

It was trading with volumes of 363,571 shares, compared to its five day average of 1,601,521 shares, a decrease of -77.30 percent.

State Bank of India, Atul Auto, General Insurance Corporation of India, Highway Infrastructure, India Shelter Finance Corporation, Mahanagar Gas, Sarda Energy & Minerals, Sterlite Technologies, and VST Tillers Tractors will announce their quarterly earnings on February 7.

The Sensex was up 46.67 points or 0.06 percent at 83,360.60, and the Nifty was down 22.50 points or 0.09 percent at 25,620.30. About 1500 shares advanced, 2257 shares declined, and 149 shares unchanged.

Siemens was quoting at Rs 3,204.80, down Rs 94.65, or 2.87 percent.

It has touched an intraday high of Rs 3,324.00 and an intraday low of Rs 3,204.80.

It was trading with volumes of 9,184 shares, compared to its five day average of 18,814 shares, a decrease of -51.19 percent.

In the previous trading session, the share closed up 0.31 percent or Rs 10.10 at Rs 3,299.45.

The share touched a 52-week high of Rs 5,690.00 and a 52-week low of Rs 2,490.00 on 07 February, 2025 and 07 April, 2025, respectively.

Currently, the stock is trading 43.68 percent below its 52-week high and 28.71 percent above its 52-week low.

Market capitalisation stands at Rs 114,129.50 crore.

DEE Development Engineers was quoting at Rs 213.50, up Rs 4.65, or 2.23 percent.

It has touched an intraday high of Rs 213.65 and an intraday low of Rs 202.45.

It was trading with volumes of 4,667 shares, compared to its five day average of 13,429 shares, a decrease of -65.25 percent.

In the previous trading session, the share closed down 1.88 percent or Rs 4.00 at Rs 208.85.

The share touched a 52-week high of Rs 336.15 and a 52-week low of Rs 166.60 on 02 July, 2025 and 18 February, 2025, respectively.

Currently, the stock is trading 36.49 percent below its 52-week high and 28.15 percent above its 52-week low.

Market capitalisation stands at Rs 1,478.77 crore.

Tata Steel, Shree Cement, Siemens, Bosch, BEML, Capillary Technologies, Crompton Greaves Consumer Electricals, Gateway Distriparks, Indian Renewable Energy Development Agency, JK Tyre & Industries, Kalpataru, Kalyan Jewellers India, Krishna Institute of Medical Sciences, Lemon Tree Hotels, Medi Assist Healthcare Services, Shipping Corporation Of India, Baazar Style Retail, Sula Vineyards, Sun TV Network, and Whirlpool of India will release their quarterly earnings today.

#1 Net working capital days increased to 139 days versus 116 days in H1

#2 Order book growth was healthy at 50% YoY versus an average of 48% in the last two quarters

#3 EBITDA margin expanded 60 bps YoY to 14.8% but came in 100/70 bps below estimate

#4 Q3 missed on both revenue & margin

Greaves Cotton was quoting at Rs 170.40, up Rs 1.15, or 0.68 percent.

It has touched an intraday high of Rs 177.30 and an intraday low of Rs 165.20.

It was trading with volumes of 45,225 shares, compared to its five day average of 41,888 shares, an increase of 7.97 percent.

The RBI’s decision to maintain the repo rate at 5.25% while retaining a neutral policy stance reflects a balanced and data-driven approach in navigating evolving domestic and global conditions. The upward revision in the FY26 growth outlook highlights the resilience of the Indian economy, while stable inflation projections offer confidence to both lenders and borrowers, supporting continued credit expansion.

Further, the growth-oriented measures announced in Budget 2026, coupled with improving trade prospects driven by global economic agreements, are expected to strengthen investment momentum and credit demand across sectors. Importantly, the affirmation that system-level parameters across banks and NBFCs remain robust reinforces confidence in the sector’s financial strength and its ability to sustainably support India’s economic growth.

CESC was quoting at Rs 152.00, down Rs 2.35, or 1.52 percent.

It has touched an intraday high of Rs 154.50 and an intraday low of Rs 150.75.

It was trading with volumes of 47,932 shares, compared to its five day average of 169,417 shares, a decrease of -71.71 percent.

#1 Profit drops 36.6 percent to Rs 122.5 crore Vs Rs 193.2 crore, YoY

#2 Revenue declines 8.9 percent to Rs 4,868.3 crore Vs Rs 5,344.5 crore, YoY

NCC was quoting at Rs 151.55, down Rs 0.50, or 0.33 percent.

It has touched an intraday high of Rs 151.80 and an intraday low of Rs 144.85.

It was trading with volumes of 294,503 shares, compared to its five day average of 219,076 shares, an increase of 34.43 percent.

#1 Profit grows 9 percent to Rs 879.8 crore Vs Rs 807 crore, YoY

#2 Revenue soars 14.6 percent to Rs 3,601.1 crore Vs Rs 3,143.6 crore, YoY

Mazagon Dock Shipbuilders was quoting at Rs 2,358.10, down Rs 39.40, or 1.64 percent.

It has touched an intraday high of Rs 2,438.25 and an intraday low of Rs 2,356.05.

It was trading with volumes of 64,337 shares, compared to its five day average of 209,035 shares, a decrease of -69.22 percent.

#1 Loss widens to Rs 152.2 crore Vs loss of Rs 51.3 crore, YoY

#2 Revenue jumps 7.9 percent to Rs 2,373.7 crore Vs Rs 2,200.5 crore, YoY

Aditya Birla Fashion & Retail was quoting at Rs 67.70, down Rs 3.19, or 4.50 percent.

It has touched an intraday high of Rs 69.73 and an intraday low of Rs 66.43.

It was trading with volumes of 356,705 shares, compared to its five day average of 510,454 shares, a decrease of -30.12 percent.

Tata Steel was quoting at Rs 195.25, down Rs 2.40, or 1.21 percent.

It has touched an intraday high of Rs 197.50 and an intraday low of Rs 194.50.

It was trading with volumes of 511,859 shares, compared to its five day average of 1,749,346 shares, a decrease of -70.74 percent.

The RBI’s decision to keep the repo rate unchanged at 5.25% reflects a balanced policy stance amid moderating inflation and steady economic growth. With FY26 CPI inflation projected at a benign 2.1%, the central bank appears comfortable on the inflation front while maintaining a neutral stance in light of prevailing global uncertainties.

At the same time, healthy domestic demand, rising capital expenditure, and continued infrastructure spending support the decision to adopt a wait-and-watch approach. Stable interest rates provide greater visibility to borrowers and investors, particularly benefiting rate-sensitive sectors, while bond yields are likely to remain range-bound with a mild downward bias, provided inflation continues to stay under control.

The Sensex was down 155.34 points or 0.19 percent at 83,158.59, and the Nifty was down 85.50 points or 0.33 percent at 25,557.30. About 1404 shares advanced, 2285 shares declined, and 153 shares unchanged.

MRF was quoting at Rs 140,272.55, up Rs 5,339.00, or 3.96 percent.

It has touched an intraday high of Rs 143,500.00 and an intraday low of Rs 133,661.80.

It was trading with volumes of 821 shares, compared to its five day average of 338 shares, an increase of 142.90 percent.

State Bank of India, Atul Auto, General Insurance Corporation of India, Highway Infrastructure, India Shelter Finance Corporation, Mahanagar Gas, Sarda Energy & Minerals, Sterlite Technologies, and VST Tillers Tractors will announce their quarterly earnings on February 7.

As expected, it was a non-event policy, with the RBI maintaining the status quo on both policy rates and stance. The RBI revised Q1/Q2 FY27 GDP estimates upward, supported by robust commentary driven by strong domestic factors and recent tariff related trade agreements. Q1/Q2 FY27 inflation projections were also revised slightly higher, though nothing concerning.

Full year FY27 projections will be released in the April policy, incorporating the revised CPI and GDP series. While the Governor reiterated a pre emptive approach to liquidity management, the absence of specific announcements on additional liquidity measures disappointed the market.

The current growth inflation dynamics suggest that the present rate cut cycle may have come to an end, unless growth surprises negatively. For now, we expect an extended pause in policy rates. However, the RBI may continue to infuse durable liquidity through OMOs to aid better rate cut transmission, particularly in the short tenor segment.

The bank has received approval from the Reserve Bank of India (RBI) to establish a wholly owned subsidiary for undertaking Standalone Primary Dealer (SPD) business by infusing capital of up to Rs.2000 crores subject to specified conditions.

Bank Of Baroda was quoting at Rs 286.05, down Rs 4.35, or 1.50 percent.

It has touched an intraday high of Rs 291.15 and an intraday low of Rs 284.90.

It was trading with volumes of 75,941 shares, compared to its five day average of 491,136 shares, a decrease of -84.54 percent.

Jubilant Pharmova was quoting at Rs 945.45, down Rs 29.05, or 2.98 percent.

It has touched an intraday high of Rs 973 and an intraday low of Rs 928.20.

It was trading with volumes of 5,096 shares, compared to its five day average of 4,557 shares, an increase of 11.83 percent.

Tata Steel, Shree Cement, Siemens, Bosch, BEML, Capillary Technologies, CESC, Crompton Greaves Consumer Electricals, Gateway Distriparks, Indian Renewable Energy Development Agency, JK Tyre & Industries, Kalpataru, Kalyan Jewellers India, Krishna Institute of Medical Sciences, Lemon Tree Hotels, Medi Assist Healthcare Services, MRF, Shipping Corporation Of India, Baazar Style Retail, Sula Vineyards, Sun TV Network, and Whirlpool of India will release their quarterly earnings today.

#1 Profit drops 36.6 percent to Rs 122.5 crore Vs Rs 193.2 crore, YoY

#2 Revenue declines 8.9 percent to Rs 4,868.3 crore Vs Rs 5,344.5 crore, YoY

NCC was quoting at Rs 150.75, down Rs 1.30, or 0.85 percent.

It has touched an intraday high of Rs 151.45 and an intraday low of Rs 144.85.

It was trading with volumes of 286,264 shares, compared to its five day average of 219,076 shares, an increase of 30.67 percent.

RBI’s decision to permit bank lending to REITs is a welcome step for the sector’s evolving funding ecosystem. Indian REITs, with approximately USD 27 bn of AUM across office and retail segments, have historically relied on capital market issuances and sponsor-backed financing, and access to bank credit will serve as an additional funding avenue that diversifies the liability stack and enhances refinancing flexibility.

The move reinforces regulatory confidence in listed real estate vehicles and should strengthen liquidity and depth in India’s real estate investment market.

The latest Monetary Policy Committee (MPC) decision by the Reserve Bank of India to keep the repo rate unchanged at 5.25% and retain a neutral stance underscores a calibrated stance in the face of mixed macro signals.

The committee noted that headline CPI inflation remains well below the RBI’s tolerance band, with December readings near historic lows, keeping inflation expectations anchored. Meanwhile, real GDP growth continues to outperform, with projections above 7% for FY26, supporting the case for stability in borrowing costs.

This pause after a cumulative 125 bps easing cycle reflects confidence in domestic demand and ongoing trade-boosting developments, while also keeping room to respond to global uncertainties and commodity-price risks. Future actions will remain data dependent, balancing price stability with growth impetus.

Bajel Projects was quoting at Rs 166, down Rs 4, or 2.35 percent.

It has touched an intraday high of Rs 169.15 and an intraday low of Rs 159.

It was trading with volumes of 14,920 shares, compared to its five day average of 36,158 shares, a decrease of -58.74 percent.

Zydus announced that the USFDA has granted Orphan Drug Designation (ODD) to Desidustat, a novel oral HIF-PHI, for the treatment of Sickle Cell Disease (SCD). The USFDA's Office of Orphan Drug Products grants orphan status to support development of medicines for the treatment of rare diseases that affect fewer than 200,000 people in the United States.

Zydus Lifesciences was quoting at Rs 889.95, down Rs 15.15, or 1.67 percent.

It has touched an intraday high of Rs 905.20 and an intraday low of Rs 884.00.

It was trading with volumes of 17,136 shares, compared to its five day average of 26,181 shares, a decrease of -34.55 percent.

The company announced the commissioning of an additional grinding capacity of 2.7 mtpa at its Aligarh unit in Uttar Pradesh. With this commissioning, the total cement grinding capacity of the Aligarh unit now stands at 4.0 mtpa, increasing the company’s capacity in Uttar Pradesh to 13.1 mtpa.

With this addition, UltraTech’s total domestic grey cement manufacturing capacity stands at 191.36 mtpa. Along with its overseas capacity of 5.4 mtpa, the company’s global capacity now stands at 196.76 mtpa.

UltraTech Cement was quoting at Rs 12,689.50, down Rs 84.85, or 0.66 percent.

It has touched an intraday high of Rs 12,774.05 and an intraday low of Rs 12,659.25.

It was trading with volumes of 2,012 shares, compared to its five day average of 4,259 shares, a decrease of -52.76 percent.

ACME Solar Holdings has secured a 301 MW/ 1,204 MWh assured peak supply SECI FDRE-VII project in an e-reverse auction conducted on February 05, 2026. Following this win, ACME Solar’s diversified portfolio stands at 8,071 MW contracted capacity spanning solar, wind, storage, hybrid, FDRE and RTC solutions.

ACME Solar Holdings was quoting at Rs 222.75, down Rs 4.55, or 2.00 percent.

It has touched an intraday high of Rs 226.75 and an intraday low of Rs 222.05.

It was trading with volumes of shares, compared to its five day average of shares, a decrease of percent.

#1 Target price at Rs 543

#2 Q3 in-line, CV recovery to sustain healthy growth

Apollo Tyres was quoting at Rs 502.90, down Rs 4.65, or 0.92 percent.

It has touched an intraday high of Rs 507.60 and an intraday low of Rs 500.65.

It was trading with volumes of 20,281 shares, compared to its five day average of 97,065 shares, a decrease of -79.11 percent.

In the previous trading session, the share closed down 0.95 percent or Rs 4.85 at Rs 507.55.

The share touched a 52-week high of Rs 540.30 and a 52-week low of Rs 368.00 on 14 November, 2025 and 07 April, 2025, respectively.

Currently, the stock is trading 6.92 percent below its 52-week high and 36.66 percent above its 52-week low.

Market capitalisation stands at Rs 31,939.23 crore.

HCLTech has been selected by Circles, a global technology company empowering telecom operators with its innovative SaaS platform, to bring nextgeneration connectivity solutions to telecom operators and non-telecom brands worldwide.

HCL Technologies was quoting at Rs 1,594.25, down Rs 14.55, or 0.90 percent.

It has touched an intraday high of Rs 1,608.80 and an intraday low of Rs 1,574.85.

It was trading with volumes of 130,135 shares, compared to its five day average of 172,850 shares, a decrease of -24.71 percent.

Alembic Pharmaceuticals has received final approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Carbidopa, Levodopa and Entacapone Tablets, 12.5 mg/50 mg/200 mg, 18.75 mg/75 mg/200 mg, 25 mg/100 mg/200 mg, 31.25 mg/125 mg/200 mg, 37.5 mg/150 mg/200 mg, and 50 mg/200 mg/200 mg.

Alembic Pharmaceuticals was quoting at Rs 792.15, down Rs 17.60, or 2.17 percent.

It has touched an intraday high of Rs 809.75 and an intraday low of Rs 777.80.

It was trading with volumes of 3,193 shares, compared to its five day average of 5,925 shares, a decrease of -46.11 percent.

The Reserve Bank of India (RBI) has maintained a neutral stance in its latest policy update, keeping the repo rate unchanged at 5.25%, this was a unanimous decision by the MPC. To support the financial system, the RBI intends to ensure sufficient liquidity and remain pre-emptive in its actions.

GDP growth for FY26 is projected at 7.4%, bolstered by strong service sector performance and a supportive agricultural sector due to healthy rabi crops sowing and healthy reservoir levels. Additionally, GDP growth for Q1FY27 and Q2FY27 has been revised upward to 6.9% versus 6.7% earlier and 7.0% versus 6.8% earlier, respectively. Private consumption momentum is expected to sustain, while services exports to remain resilient.

The CPI for FY26 is projected at 2.1%, while projections for Q1FY27 and Q2FY27 have been revised slightly upward to 4% and 4.2%, primarily due to the prices of precious metals. Core inflation is expected to remain range bound.

A new GDP and CPI series is expected to be released later this month.

We believe this is neutral for banks and NBFCs as far as the overall policy is concerned, though the RBI explicitly did not announce any OMO like measures to boost liquidity, as they want to ensure full transmission of measures taken earlier, but an assurance to pro-actively work towards ensuring sufficient liquidity is comforting.

The Sensex was up 109.07 points or 0.13 percent at 83,423.00, and the Nifty was up 5.35 points or 0.02 percent at 25,648.15. About 1416 shares advanced, 2183 shares declined, and 160 shares unchanged.

The RBI MPC’s unanimous decision to keep the repo rate unchanged at 5.25 percent and maintain a neutral stance signals confidence in India’s macroeconomic resilience, with growth holding firm even as inflation remains decisively benign. With FY2026 CPI inflation projected at a low 2.1 percent and underlying pressures well contained, the policy pause suggests that the current rate setting is appropriately calibrated to support demand without jeopardising price stability.

Importantly, the MPC’s upward revision to its GDP growth projections for early FY2027 to 6.9 percent in Q1 and 7.0 percent in Q2, underscores the strength of domestic growth drivers, particularly services, investment and consumption.

Notably, the absence of any explicit liquidity guidance in the policy statement points to a preference for letting financial conditions evolve organically rather than actively easing them at this stage. The MPC’s emphasis on reassessing the policy path after the release of the new GDP and CPI series later this month reinforces its data-dependent approach. From a credit ratings perspective, stable policy rates and strong growth are supportive of debt-servicing capacity and ratings stability, although a less accommodative liquidity environment could temper the benefits for highly leveraged and liquidity-sensitive borrowers amid persistent external volatility.

#1 Profit tanks 43.4 percent to Rs 62 crore Vs Rs 109.5 crore, YoY

#2 Revenue sinks 54.1 percent to Rs 576.6 crore Vs Rs 1,256.1 crore, YoY

SKF India was quoting at Rs 1,749.55, down Rs 14.85, or 0.84 percent.

It has touched an intraday high of Rs 1,766.65 and an intraday low of Rs 1,721.30.

It was trading with volumes of 1,140 shares, compared to its five day average of 1,334 shares, a decrease of -14.53 percent.

The continued neutral stance and no change in the policy rate were broadly expected. The upward revision in growth projections for the next two quarters at 6.9% and 7% reinforces India’s status as one of the fastest-growing major economies.

The higher inflation projection for FY27 takes into account the base effect of the decline in prices seen over the last few quarters. However, the projected inflation remains within the RBI’s target range. The growth outlook remains strong, with robust domestic consumption and a stabilising external sector supported by prospective trade deals.

The statement also highlighted high capacity utilisation and healthy balance sheets of corporates as well as the financial sector. Continued thrust on capital expenditure is expected to maintain growth momentum, further supported by a low inflationary environment.

#1 Profit zooms 30.6 percent to Rs 91.7 crore Vs Rs 70.2 crore, YoY

#2 Revenue increases 18.5 percent to Rs 961.3 crore Vs Rs 811 crore, YoY

Va Tech Wabag was quoting at Rs 1,234.00, up Rs 49.20, or 4.15 percent. It has touched an intraday high of Rs 1,247.95 and an intraday low of Rs 1,191. It was trading with volumes of 30,845 shares, compared to its five day average of 17,544 shares, an increase of 75.82 percent.

In the previous trading session, the share closed down 1.12 percent or Rs 13.45 at Rs 1,184.80.

The share touched a 52-week high of Rs 1,679.00 and a 52-week low of Rs 1,033.95 on 28 May, 2025 and 27 January, 2026, respectively. Currently, the stock is trading 26.5 percent below its 52-week high and 19.35 percent above its 52-week low. Market capitalisation stands at Rs 7,688.01 crore.

ITC stock jumped over 5 percent to emerge as the top gainer on the Nifty, while Kotak Mahindra Bank and Bajaj Finance gained nearly 3 percent and 1.7 percent, respectively. Bharti Airtel and Axis Bank also traded higher, offering support to the frontline indices amid continued volatility in the broader market.

#1 Profit declines 21.5 percent to Rs 15.2 crore Vs Rs 19.4 crore, YoY

#2 Revenue rises 3.8 percent to Rs 181.2 crore Vs Rs 174.5 crore, YoY

#3 Other income drops to Rs 3.7 crore Vs Rs 9.2 crore, YoY

Krsnaa Diagnostics was quoting at Rs 705.00, down Rs 17.45, or 2.42 percent.

It has touched an intraday high of Rs 705.00 and an intraday low of Rs 685.05.

It was trading with volumes of 1,150 shares, compared to its five day average of 6,725 shares, a decrease of -82.90 percent.

Despite the bounce in frontline indices, broader markets remained weak, with midcap and smallcap stocks continuing to underperform. The Nifty Midcap 100 index was still trading down 0.7 percent, while the Nifty Smallcap 100 index lost 0.9 percent.

FMCG stocks powered the recovery, with ITC surging over 3.5 percent to top the Nifty gainers, lifting the Nifty FMCG index by over 1 percent. In contrast, the Nifty IT index stayed under pressure, down more than 2 percent, led by losses in TCS, Infosys, Tech Mahindra and Wipro.

The Sensex and Nifty 50 rebounded strongly from morning lows, with the Sensex hovering just 26 points lower and the Nifty reclaiming the 25,600 mark by 11:35 am.

On the upside, ITC gained over 2 percent to emerge as the top Nifty gainer, while Bharti Airtel and Power Grid also traded higher, helping limit benchmark losses.

IT stocks remain the key source of pressure, with TCS, Infosys, Tech Mahindra and Wipro among the top Nifty losers, shedding 1.5-2.5 percent each. This kept the Nifty IT index firmly in red, which was down more than 2 percent.

After trading deeper in the red earlier, the Sensex and Nifty clawed back some ground by late morning, though both indices continue to trade below key levels amid cautious sentiment. The Sensex was down 165 points at 11.11 am, trading at 83,150; while NSE Nifty 50 was still well below 25,600.

NTPC

Nestle India

National Aluminium Company

Housing & Urban Development Corporation

Insecticides (India)

Manappuram Finance

Manba Finance

Accelya Solutions India

ACME Solar Holdings

Amrutanjan Health Care

B2B Software Technologies

Clean Science and Technology

Control Print

Quess Corp

REC

Sharda Cropchem

Shriram Pistons & Rings

SIS

SMC Global Securities

Steelcast

Sundaram Finance

TCI Express

Triveni Engineering & Industries

Veedol Corporation

Gold and silver remain volatile as last week’s steep plunge was driven by hawkish Fed expectations after Kevin Warsh’s nomination, a stronger dollar, and sharp CME margin hikes that forced leveraged unwinding. Profit‑taking after record highs also amplified rapid swings, keeping market sentiment fragile.

What should investors do-

Bullion investors should stay patient and avoid reacting to short‑term volatility triggered by margin hikes, profit‑taking and policy uncertainty. Gradual, staggered accumulation can help manage timing risks as long‑term fundamentals like geopolitical tensions, central‑bank demand and currency pressures remain supportive.

Monitoring the dollar and upcoming Fed signals is crucial, while keeping positions balanced to navigate heightened volatility.

The Sensex was down 279.94 points or 0.34 percent at 83,033.99, and the Nifty was down 115.85 points or 0.45 percent at 25,526.95. About 1164 shares advanced, 2307 shares declined, and 146 shares unchanged.

The RBI’s decision to maintain the repo rate and retain a neutral stance was in line with expectations. Despite global volatility, GDP growth for FY26 has been revised marginally upwards to 7.4%, from 7.3% earlier. The inflation outlook remains comfortable, although the FY26 forecast has seen a slight uptick to 2.1% from 2.0%.

While the possibility of a further 25 bps rate cut in upcoming policy meetings cannot be entirely ruled out, it appears unlikely, particularly in light of the India–US trade deal announcement, healthy GDP growth, contained CPI inflation, and improving trends in credit growth.

For banks, Q3 marked a clear inflection point in credit growth, with momentum expected to continue. Secured retail segments continue to demonstrate healthy growth, while unsecured segments are showing gradual signs of revival. Corporate credit growth has remained reasonably robust, especially for larger banks. NIM trends were divergent in Q3: large banks reported stable margins, while mid- and small-sized banks outperformed, posting healthy improvements.

Heading into Q4, we expect NIMs to remain steady to marginally improve, as the impact of the December ’25 rate cut is yet to fully play out. Continued deposit repricing, albeit at a slower pace, should provide support to margins.

Credit costs have turned the corner and are expected to improve further as stress in unsecured portfolios moderates. Slippages are likely to trend lower, and the asset quality outlook remains favourable. Overall, we expect banks to deliver healthy earnings growth over the medium term. We remain positive on select large banks such as Kotak Mahindra Bank and SBI, and prefer Federal Bank, City Union Bank, and Ujjivan SFB among SMID banks.

Focusing on effective transmission of rate cuts already taken and being encouraged by healthy growth trajectory in the economy RBI's MPC decided to keep repo rate unchanged while awaiting new GDP and CPI series.

With inflation expected to rise hereon amid normalization of food prices and adverse base effect, the scope for further rate cuts has shrunk.

A shock to growth-inflation balance would only propel another rate cut. For now, we expect a prolonged pause from the RBI.

#1 Profit falls 5.6 percent to Rs 107.7 crore Vs Rs 114.1 crore, YoY

#2 Revenue soars 10.3 percent to Rs 1,541.5 crore Vs Rs 1,397 crore, YoY

#3 Exceptional loss stands at Rs 16.5 crore Vs Nil, YoY

Astral Limited was quoting at Rs 1,472.80, down Rs 30, or 2 percent.

It has touched an intraday high of Rs 1,522.45 and an intraday low of Rs 1,472.80.

It was trading with volumes of 9,163 shares, compared to its five day average of 21,522 shares, a decrease of -57.42 percent.

The MPC meeting underscores a calibrated approach that balances a resilient domestic growth outlook with a benign inflation environment. Headline CPI remains well below the RBI’s tolerance band of 2–6%, even after a gradual normalization from recent record lows, providing the central bank with policy space to prioritize growth stability. WPI has also turned positive after several months of contraction, led by firming manufacturing prices, signalling a mild pickup in cost pressures but not yet at levels that warrant a shift in the policy stance. Against this backdrop, the MPC’s decision to maintain the policy rate and retain a neutral stance reflects confidence that inflation is contained while growth momentum remains intact.

On the growth front, the RBI continues to see the Indian economy on a steady and improving trajectory. Real GDP growth for the current year is estimated at around 7.4%, supported by resilient private consumption and sustained fixed investment, while real GVA growth is projected at about 7.3%, driven by strong services activity and a revival in manufacturing.

Looking ahead, the RBI has marginally revised up its growth projections for the first half of FY27, with GDP growth expected at 6.9% in Q1 and 7.0% in Q2, highlighting the strength of domestic demand even as external conditions remain challenging.

From a sectoral perspective, policy continuity is supportive for banking and financial services, as stable rates aid net interest margins and improve visibility on credit growth, particularly for PSU banks with strengthening balance sheets. Rate-sensitive sectors such as housing, automobiles and consumer durables stand to benefit from steady borrowing costs, while manufacturing, capital goods and infrastructure-linked sectors gain from policy predictability and ongoing capex momentum. Services remain the key growth engine, with medium-term support from recent trade agreements. Overall, the MPC’s stance reinforces macro stability, anchoring expectations and supporting a constructive medium-term outlook across sectors.

#1 Profit rises 3.7 percent to Rs 322.8 crore Vs Rs 311.4 crore, YoY

#2 Revenue increases 2.6 percent to Rs 4,684.5 crore Vs Rs 4,567.4 crore, YoY

Rail Vikas Nigam was quoting at Rs 311.80, down Rs 4.90, or 1.55 percent.

It has touched an intraday high of Rs 316.05 and an intraday low of Rs 311.15.

It was trading with volumes of 264,166 shares, compared to its five day average of 1,022,992 shares, a decrease of -74.18 percent.

#1 Profit sinks 58 percent to Rs 27.4 crore Vs Rs 65.4 crore, YoY

#2 Revenue grows 8 percent to Rs 1,763 crore Vs Rs 1,632 crore, YoY

#3 Exceptional loss stands at Rs 14.4 crore Vs Nil, YoY

#4 Company to invest Rs 500 crore to set up hybrid renewable power plant

JK Paper was quoting at Rs 316.30, down Rs 10.00, or 3.06 percent.

It has touched an intraday high of Rs 325.00 and an intraday low of Rs 315.95.

It was trading with volumes of 4,235 shares, compared to its five day average of 4,759 shares, a decrease of -11.00 percent.