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Indices recover from low points in late morning deals
Feb-06-2026

Domestic equity indices recovered from low points but continued to trade in red in late morning deals on the back of selling in TCS, Tech Mahindra, SBI, Adani Ports and Infosys companies’ stocks. Traders were cautious with exchange data showing Foreign Institutional Investors turned net sellers after two days and offloaded equities worth Rs 2,150.51 crore on Thursday. Weak cues from the global markets weighed on the domestic sentiments. However, there was some encouragement in markets as the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) has revised its growth projection for India’s Gross Domestic Product (GDP) to 7.4% from 7.3% for FY26. The quarterly projections for FY27 were also revised, with growth estimated at 6.9% and 7% in the first and second quarters of the fiscal year, respectively, up from 6.7% and 6.8%.

On the global front, Asian markets were trading mostly in red following weak cues from the US markets overnight. Back home, traders were seen piling up positions in FMCG, Telecom, Power, Capital Goods and Energy, while selling was witnessed in IT, Healthcare, TECK, PSU and Consumer Durables.

The BSE Sensex is currently trading at 83232.26, down by 81.67 points or 0.10% after trading in a range of 82925.35 and 83331.35. There were 12 stocks advancing against 18 stocks declining on the index.

The top gaining sectoral indices on the BSE were FMCG up by 0.73%, Telecom up by 0.51%, Power up by 0.30%, Capital Goods up by 0.20% and Energy up by 0.17%, while IT down by 1.86%, Healthcare down by 1.04%, TECK down by 0.78%, PSU down by 0.70% and Consumer Durables down by 0.67% were the top losing indices on BSE.

The top gainers on the Sensex were ITC up by 3.27%, Kotak Mahindra Bank up by 1.99%, Bharti Airtel up by 1.51%, Power Grid up by 1.16% and Bajaj Finance up by 0.70%. On the flip side, TCS down by 2.47%, Tech Mahindra down by 1.72%, SBI down by 1.57%, Adani Ports down by 1.50% and Infosys down by 1.48% were the top losers.

Meanwhile, economic Affairs Secretary Anuradha Thakur has said the record gross market borrowing target of Rs 17.2 lakh crore for the upcoming financial year (FY27) announced by the government in budget, will be carried out in a non-disruptive manner, and ensuring that enough funds are available for the private sector. She said the borrowing programme also includes Rs 5.5 lakh crore for repayment. So, net market borrowing has been pegged at Rs 11.73 lakh crore for FY27, which is broadly in line with past levels. She noted that for FY26, the government had estimated gross market borrowings of Rs 14.61 lakh crore as against the budget estimate of Rs 14.82 lakh crore. 

Talking about the Budget announcement related to Alternative Investment Funds (AIFs), Economic Affairs Secretary said the industry's long-pending demand has been accommodated in this Budget. They were demanding that if the Limited Liability Partnership (LLP) Act can be modified and amended, and aligned with the functional requirements of AIFs. The amendments aim to remove operational constraints faced by AIFs, which often operate as trusts, by allowing them to transition into or operate as LLPs. She said there will also be rationalisation of document filing for entry and exit of partners, and added that these amendments are going to be of a nature that, by becoming LLPs, their liability will be limited. 

Besides, she said the Budget proposal of permitting Persons Resident Outside India (PROIs), including non-resident Indians (NRIs) and foreign investors, to buy and sell Indian stocks through the portfolio investment scheme (PIS) route is another important announcement to increase foreign currency flow. She said the Budget also proposed to increase the investment limit for an individual PROI under this scheme from 5 per cent to 10 per cent, with an overall investment limit for all individual PROIs to 24 per cent, from the current 10 per cent. 

The CNX Nifty is currently trading at 25593.00, down by 49.80 points or 0.19% after trading in a range of 25491.90 and 25630.80. There were 13 stocks advancing against 37 stocks declining on the index.

The top gainers on Nifty were ITC up by 3.32%, Kotak Mahindra Bank up by 2.67%, Bharti Airtel up by 1.60%, Power Grid up by 1.12% and Bajaj Finance up by 0.90%. On the flip side, TCS down by 2.41%, Tech Mahindra down by 1.86%, HCL Technologies down by 1.62%, SBI Life down by 1.59% and Wipro down by 1.51% were the top losers.

Asian markets were trading mostly in red; Taiwan Weighted lost 18.35 points or 0.06% to 31,782.92, Jakarta Composite plunged 229.46 points or 2.91% to 7,874.42, KOSPI dropped 79.61 points or 1.57% to 5,083.96, Hang Seng declined 250.24 points or 0.93% to 26,635.00 and Straits Times fell 29.52 points or 0.59% to 4,946.35. However, Nikkei 225 surged 358.96 points or 0.67% to 54,177.00, Shanghai Composite strengthened 10.48 points or 0.26% to 4,086.40. 
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