The brokerage has set a target price of Rs 1,260, indicating an upside potential of 49 percent from Monday’s closing price.
The index had fallen nearly 1 percent over the previous two sessions but recovered most of the losses during the day.
Technical analysis suggests this bearish extreme may be nearing exhaustion
Analysts said the Nifty Bank continues to trade above its 20-day moving average near 59,700, which remains a key support.
Honasa Consumer shares rose over 6 percent in Friday’s trade, touching their highest level since June 2025.
Silver futures for March 5, 2026 delivery rose nearly 3 percent, gaining Rs 6,565 to Rs 2,43,000 per kg on the MCX.
Realty shares declined on fears that a slowdown in IT hiring could hurt housing demand in major cities acorss India.
In the Nifty Midcap100 index, Max Financial Services and Housing & Urban Development Corporation gained up to 5 percent, while KPIT Technologies and Coforge fell up to 7 percent.
IT shares have witnessed selling pressure in the last 2 years on lower discretionary spending in key global markets and AI disruption.
JPMorgan said the recent outperformance in the stock appeared overdone as the company is still awaiting bank funding to drive the next phase of its capital expenditure cycle.
Revenue from operations remained largely flat at Rs 4,114.4 crore in the third quarter of FY26 as against Rs 4,395.53 crore in the year-ago period.
The approval by the Saudi Food and Drug Authority paves the way for commercialization through its exclusive regional partner Hikma Pharmaceuticals Plc, the largest drugmaker in the Middle East and North Africa by sales.
SJVN shares settled 7 percent higher, marking their biggest intraday percentage gain in over a month.
In the Nifty midcap100 index, Supreme Industries and Astral rose up to 4 percent. Bharat Heavy Electricals and Premier Energies fell up to 6 percent.
Brokerage CLSA said the correction offers an additional buying opportunity in Indian IT shares.
Sensex shows higher numbers than Nifty because of different base values, timelines, and index construction.
Bengaluru-based Tracxn Technologies operates on a Software-as-a-Service (SaaS) model and provides market intelligence on private companies.
Nifty PSU Bank index ended 3.34 percent higher, with all its 12 constituents closing in the green. The Nifty Bank index also settled nearly 1 percent higher.
The interim trade framework is a positive development for the Indian aerospace industry and could improve cost competitiveness across the supply chain, said analysts.
For this edition of Moneycontrol Pro Panorama: Markets balance trade optimism against sector headwinds, higher STT exposes risks and excesses in derivatives, deal hedges risks without shifting India’s strategic alignment, and more
Markets stayed volatile despite trade optimism; Nifty rose 1.47%. Breadth stretched, FIIs still bearish. Sector rotation favors financials, oil & gas; caution advised ahead near-term
Shares of Hitachi Energy India rose as much as 14 percent to an intraday high of Rs 21,889 per share on the NSE.
RBI’s six-member Monetary Policy Committee (MPC) on February 6 unanimously voted to keep the repo rate unchanged at 5.25 percent.
The company’s decision to enter the branded US segment is driven by sustained price pressure in generics, managing director Pranav Amin tells Moneycontrol
The company’s medium-term outlook is positive and growth is expected to pick up from Q4FY26