Indian stock markets may open strongly positive today, February 3, 2026, driven by the India-US trade deal reducing tariffs, with GIFT Nifty surging up to 700 points (~3%). Volatility persists amid Q3 results season and global tariff concerns, but sentiment leans bullish.
Global Bazaar Mood
Global cues mixed: US indices (S&P 500 -0.46%, Dow -0.08%) dipped on Trump tariff threats and Fed uncertainty, Asia lower, Europe marginally up (FTSE +0.28%, DAX +0.76%). Resilient equities supported by strong US data, but risk-off lingers; all eyes on US Fed dynamics.
Dollar Index & GIFT Nifty
Dollar Index (DXY) steady at ~97.07–104.65, up marginally 0.07–0.08% but down YTD, pressuring rupee (at 91.72). GIFT Nifty at 25,898–25,933 (+3.18% from prior), signaling Nifty gap-up open above 25,400 from yesterday’s close ~25,175.
Key News Events & Impact
India-US trade deal boosts engineering/textile/pharma exports (tariffs drop to 18% from 50%), sparking short-covering and FII buying; positive for Nifty to 25,600–25,700, rupee strength. Trump tariffs add volatility; Q3 results (Bajaj Finance, Adani Ports, VBL) could drive sector moves. US FOMC minutes later may influence rates.
Stocks to Watch
Focus on Q3 result players: Bajaj Finance, Adani Ports/SEZ, Adani Enterprises, VBL (already out?), Pidilite, Mankind Pharma, NMDC, Lloyds Metals. Others: PB Fintech, UPL, IRB Infra, Thermax, Mahindra Lifespace (buy to ₹440), Hero MotoCorp (sales up 26%).
Market Action Outlook
Nifty range 25,200–25,500 (support 25,100–24,900, resistance 25,400–25,600); sideways-bullish bias, watch breakout. Bank Nifty 58,300–59,000 (support 58,500). Action in auto (Hero), infra (Adani), finance (Bajaj); volatility high on results/trade deal.
Today’s Results
Key Q3 FY26: Bajaj Finance, Adani Ports & SEZ, Adani Enterprises, Varun Beverages, Pidilite Industries, Mankind Pharma, NMDC, Lloyds Metals & Energy, Kansai Nerolac, Castrol India, Triveni Turbine, others like Firstsource, Bharat Coking Coal.