Market Commentary - Mid-Session
Market trade sideways; consumer durable shares rally for 3rd day As on : 04-Feb-26  12:22

The domestic equity benchmarks traded sideways in the afternoon trade as investors engaged in profit-booking following Tuesday's sharp rally on Dalal Street spurred by the India'US trade deal. Market caution was further reinforced by escalating geopolitical tensions between the U.S. and Iran, prompting participants to reassess near-term risk exposure.

The Nifty traded above the 25,700 level. Consumer durables shares extended gains for the third consecutive trading session.

At 12:30 IST, the barometer index, the S&P BSE Sensex, shed 24.75 points or 0.03% to 83,714.38. The Nifty 50 index rose 16.45 points or 0.05% to 25,739.55.

In the broader market, the S&P BSE 150 MidCap Index rose 0.33% and the S&P BSE 250 SmallCap Index fell 0.28%.

The market breadth was strong. On the BSE, 2,466 shares rose and 1,503 shares fell. A total of 195 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, dropped 5.75% to 12.15. The Nifty 24 February 2026 futures were trading at 25,812.60, at a premium of 73.05 points as compared with the spot at 25,739.55.

The Nifty option chain for the 24 February 2026 expiry showed a maximum call OI of 62.6 lakh contracts at the 26,000 strike price. Maximum put OI of 49 lakh contracts was seen at 25,000 strike price.

RBI MPC:

The Reserve Bank's rate-setting panel will start its three-day meeting for the next bi-monthly monetary policy on Wednesday in the backdrop of the growth-focused Union Budget, low inflation and more recently the long-awaited India-US trade deal ending prolonged uncertainty on the external front.

The decision of RBI Governor Sanjay Malhotra-headed six-member Monetary Policy Committee (MPC) will be announced on Friday.

Buzzing Index:

The Nifty Consumer Durables index soared 2.16% to 36,211.75. The index rallied 5.78% in three consecutive trading sessions.

Dixon Technologies (India) (up 4.70%), Crompton Greaves Consumer Electricals (up 4.24%), PG Electroplast (up 2.54%), Amber Enterprises India (up 2.32%), Voltas (up 1.90%), Havells India (up 1.81%), Titan Company (up 1.75%), Blue Star (up 1.29%) and Kalyan Jewellers India (up 0.63%) advanced.

On the other hand, Cera Sanitaryware (down 1.92%), V-Guard Industries (down 1.82%) and Century Plyboards (India) (down 0.77%) edged lower.

Stocks in Spotlight:

Rubicon Research advanced 2.41% after the company's consolidated net profit climbed 91.2% to Rs 72.79 crore on a 51.73% increase in revenue from operations to Rs 475.52 crore in Q3 FY26 over Q3 FY25.

Kansai Nerolac Paints slipped 2.37% after its standalone net profit tanked 75.08% to Rs 131.20 crore in Q3 FY26, compared with Rs 526.49 crore in Q3 FY25. However, revenue from operations rose 3.53% to Rs 1,907.35 crore in Q3 FY26 as against Rs 1,842.16 crore posted in the same quarter last year.

Sheela Foam surged 15.88% after the company's consolidated net profit soared 211.97% to Rs 52.13 crore on an 11.1% jump in revenue from operations to Rs 1,074.43 crore in Q3 FY26 over Q3 FY25.

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