Sensex jumps 394 pts; PSU bank shares advance

The key equity benchmarks traded with modest gains in mid-afternoon trade. The Nifty traded above the 25,600 level after hitting the days low of 25,372.70 in early trade. PSU Bank shares advanced after declining in the previous two trading sessions.

At 14:30 IST, the barometer index, the S&P BSE Sensex, jumped 393.93 points or 0.48% to 83,020.69. The Nifty 50 index rose 150.15 points or 0.59% to 25,621.30.

In the broader market, the BSE 150 MidCap Index added 0.31% and the BSE 250 SmallCap Index slipped 0.29%.

The market breadth was negative. On the BSE, 1,688 shares rose and 2,529 shares fell. A total of 185 shares were unchanged.

Economy:

Indias wholesale price index (WPI) inflation increased to 1.81% in January 2026 compared with 0.83% in December 2025. The positive rate of inflation in January 2026 was due to an increase in prices of the manufacture of basic metals, other manufacturing, non-food articles, food articles, and textiles, among others.

Food inflation picked up to 1.41% in January after remaining flat at 0.00% in December.

Indias foreign exchange reserves fell to $717.6 billion as of February 6, 2026, dropping by $6.71 billion, data from the Reserve Bank of India showed.

Meanwhile, data showed a dip in foreign currency assets (FCAs), which declined by $7.66 billion to $570.05 billion during the week.

Gold holdings also recorded a sharp drop by $14.2 billion to $123.47 billion. Meanwhile, Special Drawing Rights (SDRs) decreased by $132 million to $18.82 billion.

Indias reserve tranche position with the International Monetary Fund (IMF) edged down by $32 million to $4.71 billion.

Buzzing Index:

The Nifty PSU Bank index rose 1.09% to 9,266.55. The index rose 0.18% over the previous two trading sessions.

Canara Bank (up 2.14%), Bank of India (up 2.13%), Bank of Baroda (up 1.51%), Indian Overseas Bank (up 1.15%), Punjab National Bank (up 0.82%), Indian Bank (up 0.76%), Union Bank of India (up 0.69%), Central Bank of India (up 0.62%), UCO Bank (up 0.6%) and Punjab & Sind Bank (up 0.44%) rose.

Numbers to Track:

The yield on India's 10-year benchmark federal paper shed 0.04% to 6.674 compared with the previous session close of 6.677.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 90.6150 compared with its close of 90.6650 during the previous trading session.

MCX Gold futures for 2 April 2026 settlement shed 0.30% to Rs 155,435.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.04% to 96.96.

The United States 10-year bond yield shed 0.25% to 4.042.

In the commodities market, Brent crude for April 2026 settlement shed 15 cents or 0.22% to $67.60 a barrel.

Stocks in Spotlight:

Precision Wires India soared 15.39% after the companys standalone net profit jumped 98.89% to Rs 37.69 crore on 36.55% increase in revenue from operations to Rs 1336.93 crore in Q3 FY26 over Q3 FY25.

KFin Technologies rallied 3.86% after the companys consolidated net profit increased 2.02% to Rs 91.99 crore on 27.88% jump in revenue from operations to Rs 370.87 crore in Q3 FY26 over Q3 FY25.

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