Stock Market Today February 4: Indian stock markets opened with marginal gains today, although IT stocks saw a decline. By 9:25 AM, the Sensex had risen 44 points or 0.05 percent to 83,783, while the Nifty closed 51 points or 0.20 percent higher at 25,778. The broader market indices also saw slight gains, with the Nifty Midcap 100 rising 0.04 percent and the Nifty Smallcap 100 gaining 0.01 percent.
Stock Market Today February 4
Following Anthropic’s launch of a legal tool for its cloud AI chatbot, Indian IT stocks declined, tracking negative Wall Street cues amid increasing competition and shrinking margins in the AI sector. All major sectoral indices except IT and Realty were in the green, while these two sectors were down 5.39 percent and 0.58 percent, respectively. Nifty Auto, Metal, Consumer Durables, and Oil & Gas were among the top gainers, rising 1.12 percent, 1.38 percent, 1.05 percent, and 1.77 percent, respectively.
Market Expert on Stock Market
Market experts said that the support level for the Nifty is in the 25,550-25,600 zone, while the resistance is in the 25,850-25,900 zone. The rally triggered by the US-India trade deal is likely to face headwinds, and selling in US IT stocks could drag down the Indian IT index. Market experts added that valuations in most sectors are still high, which means there is no fundamental support for a sustained rally. No change in interest rates is expected at the Monetary Policy Committee meeting on February 6.
Asian Market Today
In Asian markets, China’s Shanghai Index remained flat and the Shenzhen index fell by 0.88 percent, Japan’s Nikkei dropped 0.6 percent, and Hong Kong’s Hang Seng index declined by 0.73 percent. South Korea’s KOSPI rose by 0.72 percent. In the previous trading session, US markets mostly closed in the green, although the Nasdaq fell by 1.43 percent. The S&P 500 declined by 0.84 percent, and the Dow Jones was down 0.34 percent.
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