Equities Benchmarks Snap Three-Day Rally on Profit-Taking

An end-of-day recap of all that transpired in the Indian markets, highlighting the major price movements and the factors driving them

India stocks fall

By Dehuti Jani

February 5, 2026 at 11:45 AM IST

Indian equity benchmarks ended lower on Thursday, snapping a three-day winning streak as investors booked profits at elevated levels, particularly in capital goods, metal and select auto stocks. The BSE Sensex slipped 504 points, or 0.6%, to close at 83,314 after touching an intraday low of 83,152, while the NSE Nifty fell 133 points to settle at 25,643, after testing a low of 25,579.50. The decline came after a sharp three-session rally in which the Sensex had gained over 3,000 points.

Losses were led by Eternal, Bharti Airtel, BEL, ITC, ICICI Bank, Reliance Industries and Infosys, which declined around 1–2.5%, while Trent gained about 3% and Tata Steel added over 1%. Broader markets also remained under pressure, with the BSE Midcap 150 down 0.5% and the Smallcap 250 falling nearly 1%. Sectorally, capital goods and metal indices dropped about 1% each, while auto and consumer durables also saw selling pressure, reflecting a cautious tone and negative market breadth.

Top Movers of the Day

Tube Investments of India fell nearly 11% in intra-day trade as investors booked profits after cautious management commentary, with the company indicating focus on existing TI-2 projects and no immediate plans for fresh expansion.

Hindustan Copper pared early losses after reporting a sharp 148.5% YoY jump in Q3FY26 net profit, aided by more-than-doubling of revenue, though the stock remained slightly lower on the day.

Suzlon Energy dropped about 5% after reporting a sharp quarter-on-quarter decline in Q3FY26 profit, even as year-on-year earnings showed improvement.

Uno Minda gained around 3% after posting a 28% YoY rise in Q3FY26 net profit, supported by strong revenue growth across segments.

Jaiprakash Power Ventures slumped over 7% as Q3FY26 net profit collapsed 97% year-on-year, reflecting weak operating performance.

Emamirose more than 5% after its Q3FY26 revenue met expectations, prompting select brokerages to raise target prices amid improving volume trends.

Aurionpro Solutions fell over 5% after reporting an 8% YoY decline in Q3FY26 net profit, citing higher costs linked to changes in labour regulations.

JSW Cement surged over 9% to a two-month high after swinging to profit in Q3FY26, compared with a loss in the year-ago quarter.

Vedanta and Hindustan Zinc declined 6–7% each after silver prices corrected sharply, weighing on sentiment across metal stocks.

Tata Power slipped nearly 3% following a weaker-than-expected Q3FY26 performance, which disappointed investors.

Westlife Foodworld rallied nearly 11% despite an 85% YoY drop in Q3FY26 profit, as investors focused on long-term recovery prospects.

IDBI Bank gained about 4%, extending recent gains on renewed optimism around divestment hopes following the Union Budget 2026.

InterGlobe Aviation (IndiGo) fell nearly 4% after the competition regulator ordered a probe into alleged abuse of dominant market position.

Futures & Options
Nifty February 2026 futures settled at 25,720, carrying a 77.2-point premium over the cash Nifty, even as the underlying index declined. In the cash market, the Nifty 50 fell 0.52%, to close at 25,643, reflecting profit-taking after the recent rally. The NSE’s India VIX eased 0.69% to 12.17, indicating some cooling in near-term volatility expectations. Trent, Hindustan Aeronautics and PB Fintech (Policybazaar) were the most actively traded stock futures in the F&O segment, highlighting continued selective participation in large-cap and theme-specific names ahead of key macro and policy cues.

Bonds
Government bond yields were eased on Thursday as traders maintained bullish positions ahead of the central bank’s debt purchase, with attention turning to Friday’s monetary policy decision. The benchmark 6.48% 2035 bond yield ended at 6.6457%, easing from 6.6972% on Wednesday, and is down about 7 basis points over the past two sessions. Bond prices move inversely to yields. The RBI bought ₹500 billion of bonds via OMO, with the 6.33% 2035 paper clearing at a cut-off yield of 6.5941%, alongside firm demand across maturities—signals traders are parsing for cues on the RBI’s policy stance.

Forex
The rupee ended modestly higher on Thursday, supported by dollar sales from foreign banks and intraday short covering, though gains were capped by importer hedging demand. The currency closed at 90.3550 per dollar, up 0.1% from the previous session, after touching an intraday high of 90.0750. Persistent dollar buying near the 90-per-dollar mark prevented a deeper appreciation, keeping the rupee range-bound despite improved sentiment.

Crypto
Crypto markets came under intense pressure today as a sharp wave of liquidations swept through leveraged positions, triggering a rapid sell-off across major tokens. More than $700 million worth of crypto positions were liquidated, largely driven by cascading margin calls rather than fresh risk-off flows. Bitcoin bore the brunt, accounting for over $410 million in liquidations as it slid toward the $71,000 level, while Ethereum saw around $208 million in positions wiped out as prices dropped near $2,100. The speed and scale of the move highlight elevated leverage and fragile intraday support across the crypto complex.

US Stock Futures
US stock futures mixed early Thursday as investors weighed renewed concerns over faster AI adoption and digested Alphabet’s latest earnings. Nasdaq 100 futures were up 0.37% and S&P 500 futures gained 0.19%, supported by selective buying in technology names, while Dow Jones Industrial Average futures edged 0.06% lower, reflecting cautious positioning ahead of further corporate updates and macro cues.

US Treasury Notes
US Treasury yields were trading near multi-month highs on Wednesday as markets assessed the implications of Kevin Warsh’s nomination as the next Federal Reserve Chair. The benchmark 10-year Treasury yield eased marginally to around 4.27% in early trade after touching its second-highest level of the year in the previous session, while the 2-year yield remained steady near 3.56%. Investors continue to price in resilient economic data and the possibility that a Warsh-led Fed could adopt a relatively tighter stance, including less reliance on balance-sheet expansion.

Top News