Weekly Update- 6 Feburary 2026

NIFTY50

Nifty closed the week at 25,694, gaining 868 points (+3.5%). The week began on a negative note on Budget day, where the index witnessed sharp selling pressure. However, as the week progressed, the market formed a base over the next one session, indicating stabilization at lower levels. Sentiment turned strongly positive after the India–US trade deal announcement, which led to a significant gap-up as the news was widely anticipated by market participants. Following the sharp rally, some profit booking emerged from higher levels, and the index moved into a broad range-bound consolidation phase before showing a sharp bounce from lower levels on Friday. For the coming week, key resistance is placed around 26,000, while support lies near 25,500, with the overall view remaining buy on dips.

BANKNIFTY

Bank Nifty closed the week at 60,120, gaining 2.92%. The week began on a cautious note on Budget day, where the index witnessed selling pressure initially. However, as the week progressed, the market formed a base over the next two sessions, indicating stabilization at lower levels. Sentiment turned strongly positive after the India–US trade deal announcement, which led to a sharp gap-up move as the news was widely anticipated. Following the strong rally, some profit booking emerged from higher levels, and the index moved into a range-bound consolidation phase before showing renewed strength toward the end of the week. PSU banks outperformed private banks, providing leadership to the index. For the coming week, support is placed around 59,700, while resistance is seen near 60,500, with the overall view remaining buy on dips.

TOP GAINING SECTOR

NIFTY ENERGY was top gainer sector for the week

Major gainers were:-

CG POWER:- up by 13.06%

BPCL:- up by 7.48%

JSW ENERGY:- up by 7.34%

NTPC:- up by 7.89%

TOP LOSING SECTOR

NIFTY IT was top losing sector for the week

Major losers were:-

INFOSYS:- down by 8.91%

TCS:- down by 7.7%

MPHASIS:- down by 5.75%

WIPRO:- down by 4.58%

IMPORTANT NEWS

• With reciprocal US tariffs on Indian exports cut to 18% from 50%, and zero duties on select products, the agreement effectively opens access to a $30 trillion US market, with export-oriented sectors and MSMEs among the biggest beneficiaries.

• Auto ancillary stocks will be in focus in trade on Monday, February 9, as India’s auto component makers are likely to see relief on the export front after the United States agreed to extend preferential tariff treatment for automotive parts.

• India and the United States have reached a framework for an interim agreement on reciprocal and mutually beneficial trade, marking a key step toward a broader U.S.–India Bilateral Trade Agreement (BTA). After the trade deal was announced on February 3, the Indian markets were waiting for the fine print on the agreement, which has come along expected lines. The US removed the extra 25 percent tariff imposed on Indian goods over the country’s purchases of Russian oil. Further, tariffs were reduced to 18 percent overall.

• The Dow surged above 50,000 points for the first time Friday, shrugging off worries connected to artificial intelligence companies while traders focused on the prospects for US growth and Federal Reserve interest rate cuts.

• The governing board of the National Stock Exchange (NSE) on Friday approved plans to launch an initial public offering (IPO), besides clearing the incorporation of a coal exchange subsidiary.