Closing Bell: Sensex and Nifty end flat as Dalal Street stays in ‘wait & watch’ mode – Anil Singhvi explains

Indian equity markets showed signs of sluggishness on Wednesday as investors adopted a cautious ‘wait and watch’ approach, market expert and Zee Business Managing Editor Anil Singhvi said.

BSE Sensex closed at 83,817.69, up 78.56 points or 0.09 per cent on 04 February 2026. Nifty 50 ended at 25,776.00, up 48.45 points or 0.19 per cent.

Top Gainers and Losers

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Market movements were mixed with select gains in major stocks. Top performers included Trent up 5.13 per cent, Eternal 5.04 per cent, PowerGrid 2.31 per cent, NTPC 2.27 per cent, Adani Ports 2.17 per cent, Maruti 1.74 per cent, Titan 1.64 per cent, and UltraTech Cement 1.46 per cent. Bharti Airtel, M&M, Reliance, ITC and ICICI Bank also gained between 1.19 and 1.41 per cent.

On the downside, Hindustan Unilever fell 0.01 per cent, Bajaj Finance 0.08 per cent, Kotak Bank 0.75 per cent, and Axis Bank 1.27 per cent. IT stocks led losses with Tech Mahindra down 4.30 per cent, HCL Technologies 4.53 per cent, TCS 6.96 per cent and Infosys 7.25 per cent.

Nifty Sectoral Performance

Sectorally, Nifty Auto rose 1.18 per cent, Nifty Bank 0.33 per cent and Nifty Financial Services 0.46 per cent. Nifty IT declined 5.87 per cent while Nifty Pharma and Nifty Healthcare fell 0.34 and 0.13 per cent, respectively.

Other gainers included Nifty Metal 1.27 per cent, Nifty Realty 1.12 per cent, Nifty Consumer Durables 2.66 per cent and Nifty Oil & Gas 2.08 per cent.

Nifty Broader Indices

Broader indices also advanced. Nifty Next 50 was up 0.65 per cent, Nifty Midcap 50 0.65 per cent, Nifty Smallcap 50 1.73 per cent and Nifty 500 0.38 per cent. Market sentiment remained cautious with selective buying and profit booking across sectors.

Expert Analysis: Market Caution and IT Impact

Singhvi said the market is displaying indecision after strong gains in previous sessions. “After yesterday’s big rally, the market is taking some time to pause and assess the strength of buyers and sellers. Investors are not rushing into new positions immediately. Both short-term and long-term participants are adopting a cautious stance,” he said.

According to Singhvi, the market is influenced by a mix of short-covering and selective buying. “Some positions from traders and investors who were stuck at higher levels are now being liquidated as prices recover. At the same time, fresh buyers are entering selectively. This combination creates a seesaw effect, with sudden upward or downward movements,” he explained.

Wait and Watch Mood Reflects Prudence

The IT sector, Singhvi noted, played a key role in dampening market sentiment. “If IT stocks had not declined sharply, the market mood would have been more positive. Certain IT futures fell unexpectedly, which created pressure across indices,” he said.

Singhvi added that disciplined trading and selective buying remain key. “Investors should focus on quality stocks and observe market behaviour. The market is not directionless, but it is pacing itself before the next significant move,” he said.

NSE Trading Statistics

On 04 February 2026, a total of 3,294 stocks were traded on the NSE. Among them, 2,153 advanced, 1,048 declined, and 93 remained unchanged. Thirty-four stocks hit their 52-week highs, while 55 touched their 52-week lows.

There were 121 stocks in the upper circuit and 51 in the lower circuit. The total market capitalisation on the NSE stood at Rs 467.35 lakh crore.