Indian equity benchmarks extended their rebound on February 2, with all key indices trading firmly in the green by mid-afternoon, supported by broad-based buying and a sharp cooling in market volatility.
At 03:34 PM IST, the Nifty 50 was up 262.95 points (1.06%) at 25,088.40, while the BSE Sensex gained 943.52 points (1.17%) to 81,666.46. The recovery came after recent Budget-led volatility, indicating improving risk appetite across segments.
Market Snapshot (02 Feb | 03:34 PM IST)
| Index | Last Traded | Change | Day’s High | Day’s Low |
|---|---|---|---|---|
| Nifty 50 | 25,088.40 | ▲ 262.95 (1.06%) | 25,108.10 | 24,679.40 |
| Sensex | 81,666.46 | ▲ 943.52 (1.17%) | 81,732.25 | 80,387.25 |
| Bank Nifty | 58,619.00 | ▲ 201.80 (0.35%) | 58,687.05 | 57,829.85 |
| Nifty Financial Services | 26,799.00 | ▲ 99.90 (0.37%) | 26,842.80 | 26,463.15 |
| Nifty Midcap Select | 13,257.05 | ▲ 236.80 (1.82%) | 13,288.05 | 12,925.20 |
| BSE Bankex | 65,895.16 | ▲ 280.64 (0.43%) | 65,985.15 | 64,919.71 |
| India VIX | 13.87 | ▼ 8.15% | 15.55 | 13.58 |
| Nifty Total Market | 12,801.05 | ▲ 122.65 (0.97%) | 12,820.00 | 12,559.45 |
What Drove the Market Higher
Volatility cools sharply: India VIX slipped over 8%, indicating reduced near-term fear after Budget-day turbulence.
Midcaps outperform: The Nifty Midcap Select jumped nearly 2%, signaling renewed risk appetite beyond large caps.
Broad participation: Gains were visible across banking, financials, and the wider market, pointing to a healthier market structure.
Market View
The sustained upmove and lower volatility suggest the market is attempting to stabilise after recent sharp swings. While banking stocks showed modest gains, the outperformance in midcaps and the broader market indicates selective buying and short-covering activity.
