Taking Stock: Nifty hits new high, Sensex up 440 points; oil & gas shine, banks a drag

The BSE midcap index closed 0.8 percent and smallcap index 0.5 percent higher.

After a muted reaction to the Interim Budget in the previous session, the market posted solid gains on February 2, with Nifty hitting a new high of 22,126.80 and the Sensex rallying more than 1,400 points.

The benchmarks gave up some of the gains to close off the day's high. The Sensex ended 440.33 points, or 0.61 percent, at 72,085.63, and the Nifty 156.30 points, or 0.72 percent, at 21,853.80.

On the back of positive global cues, the market opened higher and extended the gains as the day progress but profit-booking at higher levels erased some of the gains.

The Sensex settled 1,003.77 lower from the day's high of 73,089.40, while Nifty index shed 273 points from the high of 22,126.80.

The Nifty Bank index slipped in to red (down 0.5 percent) at 45,970.95, after hitting high of 46,892.35, intraday.

The market posted biggest weekly gains in two months, as the Sensex and the Nifty rose 2 percent each in this Budget week.

Stocks and sectors

Top gainers on the Nifty were BPCL, Power Grid Corporation, ONGC, Adani Ports and NTPC, while losers were Eicher Motors, Axis Bank, HDFC Life, HDFC Bank and HUL.

Index	Prices	Change	Change%
Sensex	81,926.75	136.63	+0.17%
Nifty 50	25,108.30	30.65	+0.12%
Nifty Bank	56,239.35	134.50	+0.24%

Nifty 50 25,108.30 30.65 (0.12%)

Tue, Oct 07, 2025

• 1D
• 5D
• 1M
• 3M
• 6M
• 1Y
• 2Y

Biggest Gainer	Prices	Change	Change%
Bharti Airtel	1,929.00	25.90	+1.36%

Biggest Loser	Prices	Change	Change%
Axis Bank	1,186.80	-26.00	-2.14%

Best Sector	Prices	Change	Change%
Nifty Midcap 100	58289.40	274.30	+0.47%

Worst Sector	Prices	Change	Change%
Nifty FMCG	54763.80	-293.90	-0.53%

Among sectors, oil & gas index was up 4 percent and information technology, metal, realty and power indices gained up to 2 percent each, while the banking index was down 0.5 percent.

The BSE midcap index closed 0.8 percent and smallcap index 0.5 percent higher.

Among individual stocks, a volume spike of more than 200 percent was seen in Torrent Pharma, SAIL and Indian Oil Corporation.

A long build-up was seen in Bharat Petroleum Corporation, Indian Oil Corporation, Abbott India, while a short build-up was seen in City Union Bank, Shree Cements, Eicher Motors.

Nearly 500 stock touched their 52-week high on the BSE including Abbott India, Bank of India, BPCL, Castrol India, Engineers India, Hercules Hoists, HPCL, IOB, IOC, Jindal Steel, Kitex Garments, Mishtann Foods, NBCC (India), NHPC, NMDC, Oriental Hotels, Punjab & Sind Bank, SAIL, Shipping Corporation, SJVN, SpiceJet, Texmaco Infra, amog others. Click here for the full list

Outlook for February 5

Rupak De, Senior Technical Analyst, LKP Securities

Nifty surpassed the 22,000 mark during the first half of the Friday session but subsequently formed a double top on the hourly chart. Confirmation of a bullish trend resumption would only occur with a decisive breakout above the double top, which is currently identified around 22,125.

Conversely, a break below the support level at 21,500 could indicate a bearish momentum. In the scenario of a breakout above 22,150, Nifty may experience upward momentum, potentially reaching levels such as 22,500 and beyond.

Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas

The Nifty opened on a positive note and touched a new all-time High of 22126.80. It, however, faced sharp selling pressure and witnessed a sharp selloff which pushed the Nifty lower and back within the broad range 21200 – 21900.

The daily and hourly momentum indicator provide a divergent signal and prices are stuck within a range. Bollinger bands are contracting indicating range bound price action. Thus, parameters are suggesting that the consolidation is likely to continue. Stock specific action and sector rotation is likely to continue during this period of consolidation. Key support levels are 21660 – 21600 while immediate hurdle zone is placed at 22100 - 22150.

Bank Nifty witnessed selling pressure from the 46900 – 47000 zone which coincided with the 61.82% Fibonacci retracement level of the entire fall it has witnessed from 48636 – 44429. The Bank Nifty is likely to enter into a consolidation phase in the range 47000 – 45500 from short term perspective.

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