The domestic equity benchmarks pared all early losses and traded with modest gains in the afternoon trade. The Nifty traded above the 24,850 mark. Auto shares advanced after declining in the previous trading session.
At 12:28 ST, the S&P BSE Sensex, advanced 383.84 points or 0.48% to 81,105.96. The Nifty 50 index added 70.15 points or 0.30% to 24,895.60.
The broader market underperformed the frontline indices. The S&P BSE 150 MidCap Index fell 1.10% and the S&P BSE 250 SmallCap Index declined 1.42%.
The market breadth was weak. On the BSE, 1,189 shares rose and 2,779 shares fell. A total of 197 shares were unchanged.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 2.31% to 14.75. The Nifty 24 February 2026 futures were trading at 24,955.10, at a premium of 59.50 points as compared with the spot at 24,895.60.
The Nifty option chain for the 24 February 2026 expiry showed a maximum call OI of 55.3 lakh contracts at the 25,500 strike price. Maximum put OI of 49.1 lakh contracts was seen at 25,000 strike price.
Economy:
India’s manufacturing activity recovered in January after losing momentum in December, though business confidence weakened. The HSBC India Manufacturing Purchasing Managers’ Index (PMI) rose to 55.4 in January from a two-year low of 55.0 in December, remaining well above the 50-mark that separates expansion from contraction.
Politics:
Sunetra Pawar was sworn in Maharashtra's first woman Deputy Chief Minister on 31 January 2026, days after her husband Ajit Pawar's fatal plane crash on January 28 near Baramati Airport.
A former Rajya Sabha MP and social activist from Baramati, Sunetra Pawar took oath at Lok Bhavan in Mumbai and said she would carry forward Ajit Pawar’s legacy of public service, focusing on social equality, women and youth empowerment, rural upliftment, and administrative reform.
She will work alongside Chief Minister Devendra Fadnavis and Deputy Chief Minister Eknath Shinde, strengthening the Mahayuti alliance.
Sunetra Pawar is expected to handle portfolios such as Excise, Sports, and Youth Welfare and Minorities Development, with the Finance portfolio temporarily retained by the chief minister.
Buzzing Index:
The Nifty Auto index rose 0.37% to 26,286.70. The index fell 2.09% in the past trading session.
Tata Motors Passenger Vehicles (up 3.03%), Bharat Forge (up 2.31%), Mahindra & Mahindra (up 0.75%), Uno Minda (up 0.74%), TVS Motor Company (up 0.56%), Maruti Suzuki India (up 0.36%), Sona BLW Precision Forgings (up 0.2%), Ashok Leyland (up 0.12%), Bosch (up 0.1%) and Eicher Motors (up 0.09%) advanced.
On the other hand, Tube Investments of India (down 1.91%), Exide Industries (down 1.41%) and Bajaj Auto (down 0.77%) edged lower.
Stocks in Spotlight:
Agarwal Industrial Corporation rose 0.38%. The company announced that it has secured an order worth Rs 218.59 crore from Bharat Petroleum Corporation (BPCL).
Gokaldas Exports dropped 7.06% after the company reported 70.97% fall in consolidated net profit to Rs 14.61 crore in Q3 FY26 from Rs 50.34 crore in Q3 FY25.