The Sensex saw an intra-day low of 83,152 before settling at 83,314, marking a loss of 504 points or 0.6%. This ended a winning streak that saw a substantial 3,096-point rise. The Nifty, too, fell, closing 133 points lower at 25,643 after testing a low of 25,579.50.
Impact on the stock market
Sector-wise performance
The market breadth was negative, with 2,468 stocks ending in the red compared to 1,721 gainers on the Bombay Stock Exchange (BSE). Key sectors took a hit, with the BSE Capital Goods and Metal indices falling 1% each. The Auto and Consumer Durables indices also faced losses, shedding 0.7% and 0.9%, respectively. This pullback was led by weakness in the capital goods and metal sectors, with some auto stocks also underperforming.
| Sector/Index | Performance |
| IT & BPM sector | -0.56% |
| Healthcare sector | 0.14% |
| Oil & Gas sector | -0.11% |
| Real estate sector | -0.58% |
| PSU Bank in India | 0.38% |
Top gainers today
| Company | Share Price (in ₹) | Change % |
| Trent | 4,131.30 | 2.96 |
| Max Healthcare | 1,040.80 | 1.50 |
| Tata Steel | 197.76 | 1.21 |
| JSW Steel | 1,239.80 | 0.94 |
| ONGC | 269.20 | 0.84 |
Top losers today
| Company | Share Price (in ₹) | Change % |
| Hindalco | 935.45 | –3.06 |
| Eternal | 286.85 | -2.48 |
| Bharti Airtel | 1,992.40 | -1.65 |
| Bharat Electronics | 432.90 | -1.43 |
| SBI Life Insurance | 2,017.80 | -1.17 |
Market aftermath: Impact on stocks
Max Healthcare Q3FY26: Solid growth despite margin compression
Max Healthcare’s Q3 FY26 results demonstrated a strong 9% year-on-year rise in net profit, reaching ₹344 crore, up from ₹316 crore a year ago. However, operating margins slipped to 26.1% from 27.3% in the same period last year, mainly due to a few factors including the discontinuation of high-value patented chemotherapy drugs and increased pre-commissioning costs from new brownfield projects. Despite this, Max Healthcare’s revenue grew by 10% YoY to ₹2,608 crore, with international patient revenue climbing by 14% to ₹230 crore.
The company has also been expanding rapidly, with new bed additions and the completion of a new 400-bed tower at Max Smart expected by February 2026. As the expansion continues, Max Healthcare remains bullish about its long-term growth trajectory, despite short-term margin pressures.
Tata Motors passenger vehicles: A mixed bag ahead of results
Shares of Tata Motors Passenger Vehicles (PV) dropped 1.5% ahead of its Q3 results. Analysts have mixed expectations for the company. While Tata’s luxury unit, Jaguar Land Rover (JLR), is expected to see a 38% decline in revenue YoY due to declining volumes, the domestic PV business is expected to perform better, with a potential 29% YoY growth in revenue. The company’s margin growth might be restricted by commodity inflation. It remains to be seen how the company’s results will fare once the numbers are released.
Bharti Airtel: Looking at profit halving
Shares of Bharti Airtel also slipped by 2% as investors braced for the company’s Q3 results. Analysts are expecting a significant drop in profit, with net profit halving to ₹7,367 crore, compared to ₹7,550 crore in the same period last year. The company’s growth in the ARPU (average revenue per user) is expected to be modest, but a solid performance is still anticipated in the long run as the elimination of entry-level plans boosts overall revenues. Bharti Airtel’s stock has had a strong performance over the last year, rising by 32.6%, but has seen a 4% dip in 2026 so far.
Crude Oil: Russia Continues cooperation with India
In global market news, Russia reaffirmed its commitment to ongoing cooperation with India regarding hydrocarbons trade. Despite the United States pushing India to stop importing Russian crude oil, India has continued its purchase, citing favorable pricing and the importance of maintaining stability in its energy markets. India’s energy requirements remain closely tied to Russian crude, with India importing approximately 1.1–1.3 million barrels per day. Despite global political pressures, this trade continues to be a cornerstone of India’s energy policy, and experts expect it to remain stable for the foreseeable future.
Conclusion: A day of mixed signals
Today’s trading session ended on a cautious note, with major indices showing losses. However, the day was not without its bright spots. Stocks like Max Healthcare and PB Fintech showcased strong results, while the broader market faced pressures from weaker performances in sectors like capital goods and metal.
As we move into February, all eyes will be on the upcoming earnings reports from key companies like Tata Motors, Bharti Airtel, and Hero MotoCorp, as well as the evolving situation in global energy markets. For investors, the lesson today is clear: volatility is part of the game, but strong fundamentals and strategic expansion are key to long-term success.
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