On February 6, 2026, at 11:40 AM IST, India’s benchmark Nifty 50 index pared some early losses but remained down 0.16% at 25,600 levels. Market sentiment stayed cautious ahead of the RBI Monetary Policy Committee outcome, with IT stocks dragging indices lower while banking counters attempted to hold ground.
Key Highlights
Market Update (11:40 AM IST): Nifty 50 traded at 25,600, down 0.16%, after recovering from deeper morning losses.
Sectoral Trends:
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IT stocks (Infosys, TCS, LTIMindtree) continued to weigh heavily, with the Nifty IT index down over 2%.
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Banking stocks showed resilience, with the Nifty Bank index near 60,000, holding flat despite volatility.
Global Cues: Weakness in global tech markets and overnight Wall Street sell-off pressured sentiment.
RBI Policy Watch: Investors remained cautious ahead of the RBI MPC announcement, widely expected to keep the repo rate unchanged at 5.25%.
Support & Resistance: Analysts flagged 25,500 as key support and 25,750–25,800 as immediate resistance, indicating consolidation with corrective bias.
Market Mood: Broader indices, including Midcap and Smallcap, also traded in the red, reflecting cautious investor positioning.
Why It Matters
The Nifty’s partial recovery highlights investor caution but resilience ahead of critical policy decisions. With IT weakness and banking stability balancing the index, traders are closely watching RBI’s stance for cues on liquidity, inflation, and growth outlook.
Sources: Economic Times, Moneycontrol, Business