Indian equity markets are expected to open lower on Friday, February 6, as indicated by GIFT NIFTY futures, which declined by 106 points to 25,619 amid weak cues from Asian markets.
On Thursday, benchmarks closed in the red ahead of the Reserve Bank of India’s (RBI) monetary policy announcement scheduled later today. The decline was partly driven by traders locking in recent gains, along with pressure on metal stocks amid falling global metal prices and a stronger US dollar. Investors also seek more clarity on the India-US bilateral trade negotiations.
The NIFTY50 settled at 25,642.80, down by 133.20 points or 0.52%, while the Sensex closed at 83,313.93, down by 503.76 points or 0.60%.
Asian Markets and Wall Street Overview
Asian markets traded lower, with Hong Kong’s Hang Seng down 1.6%, South Korea’s KOSPI dropping 0.9%, and Australia’s S&P/ASX 200 falling 1.76%. Japan’s Nikkei, however, edged up by 0.45%.
Wall Street also experienced a tech selloff for the third straight session, with the NASDAQ closing nearly 1.4% lower on Thursday. The S&P 500 and Dow Jones dipped 1.2% each amid concerns over economic indicators. U.S. macro data showed job openings falling to their lowest since 2020, along with higher-than-expected jobless claims, signaling a cautious economic outlook.
FII/DII Activity
Foreign institutional investors (FIIs) sold shares worth ₹2,151 crore on Thursday, while domestic institutional investors (DIIs) purchased shares worth ₹1,130 crore, according to NSE data. So far in February, FIIs have bought shares worth ₹9,442 crore.
Stocks to Watch Today
Interest rate-sensitive sectors—including banking, real estate, financial services, and auto—will be in focus as the RBI’s Monetary Policy Committee (MPC) announces its bi-monthly decision. The consensus suggests that the RBI may maintain status quo on interest rates.
Company Highlights
- Bharti Airtel: Reported a net profit of ₹6,630 crore in Q3FY26, a 55% decline from ₹14,781 crore last year. Operating profit (EBITDA) was ₹31,144 crore with an EBITDA margin of 57.7%. ARPU improved to ₹259 per user per month.
- Tata Motors Passenger Vehicles: Posted a net loss of ₹3,486 crore in Q3, reversing a profit of ₹5,406 crore last year. Revenue fell 26% to ₹70,108 crore, impacted by rising raw material costs.
- Hindustan Copper: Saw a 148.49% rise in net profit to ₹156 crore for Q3 FY26, with revenue rising 109.7% to ₹687.34 crore.
- LIC: Reported a 17.46% YoY increase in net profit to ₹12,930 crore in Q3 FY26, with net premium income rising 17.76% to ₹1.26 lakh crore.
- Hero MotoCorp: Saw a 15% rise in profit to ₹1,275 crore, with revenue increasing to ₹12,487 crore amid strong sales.
- Indian Oil Corporation: Reported a significant jump in net profit to ₹12,125.86 crore, driven by refining and marketing margins, with fuel sales up 5%.
Trade Outlook
Technically, the NIFTY50 held above the 20-day EMA for the third consecutive session, indicating bullish support. Market experts suggest the index could bounce back towards 25,800 levels if it sustains this support. The highest open interest in options remains at the 26,000 strike, indicating resistance, while support is seen at 25,500, with puts at that level holding significant open interest.
As markets await the RBI’s policy decision, investors remain cautious amid global cues and domestic developments.
