MUMBAI — The Indian equity benchmarks staged a robust recovery on Monday, February 2, 2026, as investors shook off the initial “Budget blues” from the previous day’s special session. The BSE Sensex surged 944 points (1.17%) to close at 81,666.46, while the NSE Nifty 50 reclaimed the psychological 25,000 mark, ending 263 points (1.06%) higher at 25,088.40.
The rally was largely driven by a surge in infrastructure, state-run power companies, and the automobile sector, helping the market recover nearly half of the losses incurred during Sunday’s Budget-day slump.
Top Gainers: Power and Auto In the Fast Lane
The energy and auto sectors were the primary engines of growth today. Power Grid Corporation emerged as the top performer, rallying over 7% following bullish technical outlooks and continued investor interest in the power sector.
In the auto space, Tata Motors Passenger Vehicles (TMPV) climbed nearly 6%, fueled by strong January sales data and a positive reversal after two days of declines. Other major gainers included Adani Ports and Larsen & Toubro, reflecting a broader “thumbs up” to the government’s continued focus on capital expenditure.
Stock LTP (₹) % Change
Power Grid 270.40 +7.42%
Tata Motors PV 351.40 +5.61%
Adani Ports 1,371.80 +4.28%
Asian Paints 2,423.00 +2.80%
Top Losers: Financials and IT Under Pressure
While the broader market was green, certain pockets faced profit-booking. Shriram Finance was the day’s major laggard, dropping over 3% as investors shifted focus away from select NBFCs. The banking sector saw a mixed performance; while private heavyweights like ICICI Bank held firm, Axis Bank and public sector giant SBI saw selling pressure.
The IT and Healthcare sectors also struggled to keep pace, with Infosys and Cipla ending in the red as the market prioritized high-growth infrastructure plays over defensive stocks.
Stock LTP (₹) % Change
Shriram Finance 966.00 -3.17%
Axis Bank 1,142.50 -2.33%
Max Healthcare 953.00 -1.82%
Cipla 1,307.50 -1.61%
Market Sentiment: Looking Past the STT Hike
Analysts suggest that the market has begun to digest the Finance Minister’s proposal to increase the Securities Transaction Tax (STT) on F&O trading. While the hike initially rattled traders on Sunday, Monday’s session focused on the “macro-stability” of the Budget.
“The zone of 24,900-24,930 is now acting as immediate support for the Nifty,” noted Sudeep Shah of SBI Securities. “As long as the index holds above 25,000, the bias remains positive for a move toward 25,200.”
Sectoral Highlights:
Nifty Auto: Top sectoral gainer, up 2.13%.
Nifty Oil & Gas: Rose 2.04% on easing crude prices.
Nifty IT: Marginal loser, down 0.47%.
