MARKET
Feb 6, 2026: Stock Market Today: Bulls Win as RBI Holds Rates, IT Stocks Bleed on AI Fears
Indian benchmark indices recovered to close in the green as the RBI kept the repo rate unchanged at 5.25%. While ITC surged 5% to lead the rally, IT majors crashed on global AI automation fears. Plus, updates on Tata Steel's profit jump and the crypto market meltdown.
By StoxMaster Editorial•2 min read
Market Snapshot
Here are the major stock market updates and developments for India today, Friday, February 6, 2026.
Market Overview: Closing Bell
The Indian benchmark indices managed to close in the green today, recovering from early losses. The recovery was largely driven by the RBI's policy announcement and strong buying in the FMCG and Banking sectors, despite a sharp sell-off in IT stocks.
- S&P BSE Sensex: Closed at 83,580.40, up 266.47 points (+0.32%).
- Nifty 50: Closed at 25,693.70, up 50.90 points (+0.20%).
- Bank Nifty: Closed at 60,120.55, up 56.90 points (+0.09%).
Top Headlines (Economy & Policy)
- RBI Policy Decision: The Reserve Bank of India (RBI) Monetary Policy Committee (MPC) unanimously decided to keep the Repo Rate unchanged at 5.25%. The stance remains "Neutral," matching market expectations.
- IT Sector Meltdown: The IT sector faced heavy selling pressure today following a crash in US tech stocks (Amazon, Microsoft) overnight. Investors are spooked by fears that new AI automation tools from Anthropic could disrupt the traditional IT services model.
- Crypto Crash: Bitcoin witnessed a massive correction, falling below $64,000, with reports of over $2 trillion being wiped off the global crypto market recently.
- Rupee Performance: The Indian Rupee strengthened, trading around ₹90.27 against the US Dollar, supported by positive sentiment regarding an India-US trade deal.
Stock-Specific News & Q3 Earnings
- ITC (Top Gainer): ITC was the star performer today, surging ~5% to close near ₹325.80, helping lift the Sensex.
- Tata Steel: Reported a massive jump in consolidated net profit, soaring 723% YoY to ₹2,689 crore for Q3, with revenue up 6%.
- TCS & Infosys (Top Losers): IT majors bled heavily due to the global AI scare. TCS fell nearly 1.7%, while Infosys and Tech Mahindra also saw significant cuts.
- PhysicsWallah (EdTech): The company reported strong Q3 FY26 results with net profit rising 33% YoY to ₹102 crore, driven by a 36% growth in offline enrollments.
- NSE Q3 Results: The National Stock Exchange (NSE) reported a 37% YoY decline in profit to ₹2,408 crore for the December quarter.
- Tata Motors: The Passenger Vehicle (PV) division reported a Q3 loss of ₹3,483 crore, dampening sentiment in the auto sector.
- Bharti Airtel: Despite reporting a slump in Q3 profits earlier, the stock showed resilience today, gaining ~2.3% to close at ₹2,038.
- Hindustan Unilever (HUL): The FMCG giant saw buying interest, rising nearly 3% as investors shifted to defensive stocks amid volatility.
- Kotak Mahindra Bank: Gained ~3.3%, emerging as one of the top gainers in the banking pack.
- Magadh Sugar & Energy: Reported an 18.6% rise in standalone net profit for the quarter ending December 2025.
- Shilpa Medicare: Consolidated net profit rose 40% in the December quarter, boosting investor sentiment in the pharma space.
- Bajaj Auto: Ended as a top loser, down ~1.3% at ₹9,518, tracking broader weakness in auto stocks.
- Maruti Suzuki: Faced pressure after reports that India is dropping small car concessions in the new CAFE-III norms; the stock closed lower.
- Eveready Industries: Reported a 10% rise in revenue to ₹367 crore for Q3, though profit numbers were mixed.
- Cantabil Retail: Posted a strong 31% rise in standalone net profit for the December quarter.
- Gold & Silver: Prices remained volatile with Gold trading 0.5% higher on MCX (₹1,52,900/10g) and Silver up 1.9% (₹2,39,160/kg) as global investors sought safe havens.
