Sensex, Nifty Trade Higher After Flat Open as Metal and Energy Stocks Lead

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Sensex, Nifty Trade Higher After Flat Open as Metal and Energy Stocks Lead

Indian equity benchmarks opened flat but moved higher in early trade, supported by gains in metal and energy stocks. Experts believe the growth-oriented Budget and projected earnings rebound could support markets, though continued FII selling remains a key risk.

Published by Somesh | February 02, 2026

Benchmark stock market indices opened on a flat note but traded in positive territory shortly after the opening bell, aided by buying interest in metal and energy stocks. As of 9:28 am, the S&P BSE Sensex was up 161.62 points at 80,884.56, while the NSE Nifty50 rose 9.80 points to 24,835.25.

Market sentiment improved despite recent volatility triggered by Budget-related concerns. According to Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, the Union Budget is clearly growth-oriented while maintaining fiscal prudence. He noted that the projected 10% nominal GDP growth is achievable and could translate into nearly 15% earnings growth in FY27, which markets may begin to factor in over time. However, he cautioned that continued foreign institutional investor (FII) selling could still impact near-term market performance.

Among Sensex gainers, Adani Ports and Special Economic Zone Ltd led the rally, rising over 3%. Asian Paints Ltd, Larsen & Toubro Ltd, Reliance Industries Ltd and Eternal Ltd also traded higher in early deals.

On the downside, IT stocks and select FMCG names came under pressure. Infosys Ltd fell nearly 2%, while ITC Ltd, Titan Company Ltd, Hindustan Unilever Ltd and State Bank of India Ltd also traded lower.

Market experts advised retail investors to remain calm and continue investing systematically. While a sharp market upturn may take time, an earnings rebound driven by the growth-focused Budget is seen as a positive trigger in the medium term. The recent sharp fall in the Nifty was described as a knee-jerk reaction to the increase in securities transaction tax on futures and options, a move aimed at discouraging excessive retail participation in complex derivative trades rather than raising revenue.