Taking Stock: Markets recover after Budget day selloff; Sensex rises 944 pts, Nifty ends near 25,100

Market Today

• Sensex rose 943 points, Nifty up 263 points, rebounding after Budget day losses
• FMCG, metal, oil & gas, infra, realty sectors rose 1-2%; IT index dropped 0.5%
• Over 350 stocks hit 52-week lows despite overall market recovery

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In a volatile session on February 2, Indian equity benchmarks made a smart recovery to close higher, erasing part of the losses from the previous Budget day, with the Nifty ending close to the 25,100 mark.

Tracking mixed global cues, the indices opened lower and remained range-bound and volatile during the first half of the session. However, sustained buying interest in the latter half helped the market recover and settle near the day’s high.

At close, the Sensex was up 943.52 points or 1.17 percent at 81,666.46, and the Nifty was up 262.95 points or 1.06 percent at 25,088.40.

Broader indices also staged a smart rebound from intraday lows as the Nifty Midcap climbed 1 percent and the Nifty Smallcap advanced 0.6 percent.

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Tata Motors Passenger Vehicles, Tata Consumer, Adani Ports, Power Grid, Bharat Electronics were among major gainers on the Nifty, while losers included Shriram Finance, Max Healthcare, Cipla, Axis Bank, Infosys.

On the sectoral front, FMCG, metal, oil & gas, energy, infra, realty jumped 1-2%, while IT index shed 0.5%.

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Index	Prices	Change	Change%
Sensex	75,272.39	-762.03	-1.00%
Nifty 50	23,380.55	-258.60	-1.09%
Nifty Bank	54,250.95	-850.00	-1.54%

Nifty 50 23,380.55 -258.60 (-1.09%)

Fri, Mar 13, 2026

• 1D
• 5D
• 1M
• 3M
• 6M
• 1Y
• 2Y

Biggest Gainer	Prices	Change	Change%
HUL	2,164.50	27.60	+1.29%

Biggest Loser	Prices	Change	Change%
Hindalco	926.65	-43.10	-4.44%

Best Sector	Prices	Change	Change%
Nifty FMCG	48359.35	170.20	+0.35%

Worst Sector	Prices	Change	Change%
Nifty Metal	11517.65	-346.25	-2.92%

In stock specific, E2E Networks, Anant Raj, jumped 5 each on tax holiday announcement in Budget, Bharat Dynamics fell 4% in absence of major policy announcements, Atul Auto shares added 8% on robust January sales number, Shriram Finance shed 3% after the government announced a record borrowing plan in the Budget.

Saksoft share price declined 2% despite better Q3 earnings, Gateway Distriparks shares rose 4% on acquiring land to build ICD in Indore, Sundaram Finance shares rose 8% on strong Q3 results, Mahindra Lifespace Developers share price added 4% on turning profitable in Q3, Bharat Forge shares added 5% after arm secures Rs 300 crore investment from PI Opportunities Fund.

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More than 350 stocks touched their 52-week lows, including Five-Star Business Finance, KEC International, Transformers and Rectifiers India , Poly Medicure, Reliance Power, Carborundum, IEX, Network 18, Newgen Software, Aditya Birla Re, L&T Technology, Jyothy Labs, Concord Biotech, C. E. Info Systems (MapmyIndia), SJVN, Max Healthcare, NTPC Green Energy , Cohance Lifesciences, Just Dial, Blue Jet, among others. Click to View More

Outlook for February 3

Rupak De, Senior Technical Analyst at LKP Securities

After a sharp fall, the Nifty has seen a strong bounce, which is a normal market reaction. However, the broader trend remains weak. As long as the index stays below the 200-DMA, sentiment is likely to remain negative, and any bounce should be used to exit leveraged long positions or to create short positions.

On the upside, immediate resistance is placed at 25,200, while on the downside, support is seen around 24,900.

Shrikant Chouhan, Head Equity Research, Kotak Securities

Today, the benchmark indices witnessed a promising pullback rally. The Nifty ended 263 points higher, while the Sensex was up by 944 points. Among sectors, the Capital Market Index outperformed, rallying over 3 percent, whereas despite strong momentum, the IT index traded into negative territory, shedding nearly 0.50 percent.

Technically, after an early morning intraday dip, the market took support near 24,700/80400 and bounced back sharply. From the day's lowest point, the market rallied over 400/1300 points. Additionally, on intraday charts, it has formed a promising reversal pattern, and on daily charts, it formed a bullish candle, which supports a further uptrend from the current levels.

We are of the view that now, 25,000/81500 and 24,900/81200 will act as immediate support zones for the bulls. Above these levels, a pullback formation is likely to continue, with the market potentially moving up to 25,250/82200 or the 200-day simple moving average (SMA). Further upside could also push the market toward 25,350/82500.

On the flip side, if the market falls below 24,900/81200, sentiment could change. Below this level, traders may prefer to exit their long positions.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.