Market View 04th February, 2026

View on market: Volatility persists, eagerly searching for growth:

Global markets showed mixed signals during Asian hours, as US and European futures traded slightly lower. Wall Street saw a sharp fall, led by technology stocks, as investors shifted money into economically sensitive sectors. Concerns grew after news about advanced automation tools raised fears that some technology business models may face pressure. Geopolitical tensions also affected sentiment after a security incident involving Iran and the US Navy. Oil prices moved higher due to rising global risks, while gold recovered after a heavy fall. Digital assets weakened, reflecting risk-off mood among investors. Indian markets, however, remained strong and outperformed global peers. Benchmark indices closed sharply higher, supported by broad buying across mid-sized and smaller companies. Most sectors ended higher, with strong gains in real estate, infrastructure, energy, pharmaceuticals and banking. Consumer goods stocks rose mildly, while technology stocks underperformed. Key events ahead include the central bank policy meeting, important parliamentary discussions, and high-level diplomatic engagements in the United States, which may influence market direction.

Q3FY26 Results for Today:

ADSL, ADVENTHTL, AEONXDIGI, AGVENTURES, ANDHRAPAP, APOLLOTYRE, APTUS, ASALCBR, ASHIKA, AURIONPRO, AUTOAXLES, AVALON, BAJAJFINSV, BAJAJHLDNG, BGWTATO, BMWVENTLTD, CARYSIL, CUMMINSIND, DEVYANI, DRCSYSTEMS, EMAMILTD, EMCURE, FORCEMOT, INDOTECH, JPPOWER, JSWCEMENT, JUBLINGREA, LLOYDSENGG, MEDANTA, NHPC, PARAGMILK, PARKHOTELS, QPOWER, REDINGTON, RITES, SAMMAANCAP, TATAPOWER, TCI, TRENT.

Economic Calendar:

• USD: S&P Global and ISM Services PMI (Jan) on 04^th February 2026.
• IND: S&P Manufacturing & Services PMI (Jan) on 04^th February 2026.
• USD: Crude Oil Inventories Data on 04^th February 2026.
• IND: Monetary Policy on 06^th February 2026.

Brokerage Radar:

GOLDMAN SACHS ON PIDILITE:

Target ₹1,700 Recommendation Buy, Strong quarter ahead of estimates, Strong India growth led by consumer business, partly offset by a decline in exports, EBITDA margin expansion driven by gross margins.

INVESTEC ON ADANI PORTS:

Target ₹1,850 Earlier Target ₹1,770 Recomm Buy, Slight EBITDA beat; a steady quarter, Raise FY26E EBITDA guidance, largely on NQXT acquisition, Multiple port expansion underway, Trade deals with EU/USA should boost cargo growth in the medium-to-long run.

CITI ON VARUN BEVERAGES:

Target ₹575 Earlier Target ₹675 Recommendation Buy, Volume growth outlook positive; Monitor pricing headwinds, India: Strong volume rebound but realisation weakness an overhang, International business: Continues to scale well, Q1 faces a high base, Q2-Q3 trajectory will be critical for stock performance.

MORGAN STANLEY ON BAJAJ FINANCE:

Target ₹1,195 Recomm Overweight, Q3: New stressed loans lowest since Q4, Credit costs are poised to drop sharply with new stressed loans continuing to fall, That should eventually drive credit growth higher, Coverage has been strengthened driving the cut to headline estimates, Underlying EPS forecasts are largely unchanged and FY26-28 CAGR is 25%+.

International Markets:

U.S & Europe:

Particulars	03rd  Feb	Chg.	Chg.(%)
Nasdaq	23,255.19	-336.92	-1.43
Dow	49,240.99	-166.67	-0.34
FTSE	10,314.59	-26.97	-0.26
CAC	8,179.50	-1.67	-0.02
DAX	24,780.79	-16.73	-0.07
Dow Fut.*	49,304.51	63.52	0.13

*As per 04^thFebruary.

Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

News Updates:

Source: Moneycontrol, Bloomberg Quint, Investing

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