The Sensex bounced hard from an intraday low of 80,387.25 to an intraday high of 81,732 — a swing of 1,345 points. It finally closed at 81,666, up 944 points (1.17%).
The Nifty50 traded between 24,679 and 25,108, and finished at 25,088, up 263 points (1.06%).
The broader market joined the recovery too:
Nifty Midcap rose 0.9%
Nifty Smallcap gained 0.6%
Another sign of easing stress: the market’s “fear gauge” (India VIX) fell 8%, showing that the panic levels cooled down compared to the previous session.
Impact on the stock market
Sector-wise performance
Auto stocks led the charge: Nifty Auto up 2.14%
Metal stocks followed: Nifty Metal up 1.8%
Realty stocks also did well: Nifty Realty up 1.6%
The only sector that didn’t join the party was IT, with Nifty IT down 0.5%
| Sector/Index | Performance |
| IT & BPM sector | -0.47% |
| Healthcare sector | -0.08% |
| Oil & Gas sector | 2.04% |
| Real estate sector | 1.61% |
| PSU Bank in India | 0.87% |
Top gainers today
| Company | Share Price (in ₹) | Change % |
| Power Grid Corp | 270.40 | 7.58 |
| TMPV | 362.90 | 5.30 |
| Adani Ports | 1,403.10 | 4.33 |
| TATA Cons. Prod | 1,125.40 | 3.50 |
| Bharat Elec | 439.10 | 3.23 |
Top losers today
| Company | Share Price (in ₹) | Change % |
| Shriram Finance | 962.10 | -3.56 |
| Axis Bank | 1,311.50 | -2.16 |
| Max Healthcare | 958.10 | -1.90 |
| Infosys | 1,629.40 | -1.52 |
| Cipla | 1,311.60 | -1.30 |
Market aftermath: Impact on stocks
Bajaj Housing Finance delivers strong Q3 performance
Bajaj Housing Finance reported a solid set of numbers for Q3 FY26, reinforcing confidence in the housing finance space.
- Net profit rose 21% YoY to ₹665 crore
- Net interest income grew 19% YoY to ₹963 crore
- Net total income increased 24% to ₹1,153 crore
Asset quality remained healthy, with gross NPAs at 0.27% and net NPAs at 0.11%, both improving year-on-year. Loan assets expanded 23% YoY to ₹1.17 lakh crore, while assets under management rose to ₹1.33 lakh crore.
The company’s capital adequacy ratio stood at a comfortable 23.15%, supported by top-tier credit ratings, underlining balance sheet strength.
Wall Street cautious as tech earnings, jobs data loom
Global cues remained mixed. Wall Street futures slipped up to 1% as investors turned cautious ahead of a heavy earnings calendar featuring major tech names like Alphabet, Amazon, AMD, Disney, and Palantir.
Concerns also resurfaced around the AI theme after reports suggested that Nvidia’s proposed investment in OpenAI may have stalled. Adding to the uncertainty, investors are awaiting the US monthly jobs report, which could influence the Federal Reserve’s next policy move.
Commodities and risk assets saw pressure globally:
- Gold fell 5%
- Silver dropped over 7%
- Bitcoin declined nearly 11% in January, marking its longest losing streak since 2018
Asian markets were weak, with South Korea’s Kospi plunging over 4%, while Japan, China, and Hong Kong also traded lower.
Power Grid surges after raising FY26 capex guidance
Shares of Power Grid Corporation of India jumped nearly 8%, making it the top gainer on benchmark indices.
The rally followed management’s decision to raise FY26 capex guidance to ₹32,000 crore from ₹28,000 crore and capitalisation guidance to ₹22,000 crore.
As of January 31, 2026:
- Capex stood at ₹29,200 crore
- Capitalisation was ₹18,700 crore
The company indicated it is well-positioned to exceed annual guidance, supported by strong execution visibility. Despite recent volatility, the stock trades at a relatively modest P/E of 14.89, keeping it on investors’ radars.
Crude oil and commodities remain under pressure
Commodity markets continued to show weakness, especially energy and precious metals.
Crude oil prices fell sharply after comments from US President Donald Trump indicated that Iran is open to talks, easing geopolitical tensions.
- Brent crude dropped 4.44% to $66.24
- WTI crude fell 4.63% to $62.19
- MCX crude slid over 4.5%
Further weighing on prices, OPEC+ decided to keep production unchanged for March, reinforcing expectations of ample supply.
Natural gas and agri-commodities also saw declines:
- MCX natural gas plunged nearly 12%
- Guargum and turmeric futures traded lower on NCDEX
Meanwhile, MCX Silver extended its sell-off, ending 6.4% lower at ₹2,48,600/kg, while MCX Gold recovered from lows to close nearly flat.
Conclusion
Monday’s sharp rebound brought much-needed relief after the brutal Budget-day sell-off. Heavyweight buying, easing volatility, and reassuring corporate updates helped stabilise sentiment. However, global uncertainty — driven by tech earnings, US jobs data, and commodity weakness — continues to loom large.
While the recovery signals resilience, the coming sessions will test whether this bounce has legs or remains a short-term relief rally in a volatile market environment.
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