Sensex and Nifty 50 Extend Winning Streak to Third Session on Feb 4, 2026: RIL & ICICI Bank Shine, But IT Selloff Limits Upside

 

The Indian stock market showed resilience on Wednesday, February 4, 2026, as the BSE Sensex and NSE Nifty 50 closed higher for the third consecutive session. Benchmark indices gained modestly amid strong buying in banking and energy heavyweights, but a sharp selloff in IT stocks—triggered by global concerns over a new AI tool from Anthropic—capped the overall gains.

Market Snapshot: How Sensex and Nifty Closed Today

• BSE Sensex: Closed at 83,817.69, up 78.56 points (+0.09%)
• NSE Nifty 50: Closed at 25,776, up 48.45 points (+0.19%)

This marks the third straight day of gains, following a strong rally on Tuesday (Feb 3) driven by the India-US trade deal announcement. The market opened positive but turned range-bound as IT selling intensified in the afternoon.

What Powered the Gains? RIL and ICICI Bank Lead the Charge

Reliance Industries (RIL) and ICICI Bank emerged as the top contributors to the Sensex and Nifty gains. Other notable performers included:

• Bharti Airtel
• Larsen & Toubro (L&T)
• Trent
• Mahindra & Mahindra (M&M)
• Power Grid
• ITC

Banking stocks performed well overall, with the Nifty Bank index rising moderately. The oil & gas sector also advanced strongly, benefiting from gains in RIL and other energy names.

RIL continued its recent strong run, contributing significantly to the index rise as investors bet on its diversified business (retail, telecom, refining, and green energy).

Why IT Stocks Crashed Today: Anthropic AI News Sparks Global Selloff

The biggest drag came from the IT sector. The Nifty IT index plunged nearly 5.5–6%, its sharpest single-day fall in recent weeks.

Major IT losers included:

• Infosys → down sharply (reports of up to 8.8% intraday drop)
• TCS
• HCL Technologies
• Tech Mahindra
• Wipro
• LTIMindtree

The selloff was triggered by global concerns after Anthropic (the AI company behind Claude) launched a new productivity tool aimed at in-house lawyers and professional services. This raised fears of AI disruption in the outsourcing and tech services sector, leading to a broader selloff in global software and IT stocks (including in the US and Europe).

Top Gainers vs Top Losers on Sensex/Nifty Today

Top Gainers:

• Reliance Industries (RIL)
• ICICI Bank
• Bharti Airtel
• Larsen & Toubro
• M&M
• Power Grid
• ITC

Top Losers:

• Infosys
• TCS
• HCL Tech
• Tech Mahindra
• Persistent Systems
• LTIMindtree

Sectoral Performance Overview

• Winners: Oil & Gas (+2.3–2.5%), Utilities, Banking, Auto
• Losers: IT (–5.5%), Media, FMCG (mixed)

Broader markets were resilient: Midcap and Smallcap indices ended marginally higher.

Market Context and Outlook

The market is still riding momentum from the India-US trade deal announced earlier this week, which reduced tariffs and boosted sentiment. However, the sharp IT correction highlights ongoing concerns around AI adoption and its impact on India's $250+ billion IT services industry.

Analysts remain cautiously optimistic. Many expect selective buying in banking, financials, and consumption stocks to continue, while IT may remain volatile until more clarity emerges on AI disruption.

Key levels to watch:

• Nifty support → 25,600–25,500
• Resistance → 25,900–26,000

Final Thoughts

Today’s session shows the resilience of the Indian market despite global tech jitters. Strong performances from RIL and ICICI Bank helped Sensex and Nifty notch their third straight gain, but the heavy IT selloff acted as a reality check.

Investors should stay focused on earnings season (Q3 results still ongoing), global cues, and any fresh developments around AI regulation or India-US trade implementation.

Stay tuned for more stock market updates, Sensex Nifty live analysis, and sector-specific insights.

Disclaimer: This is for informational purposes only and not investment advice. Stock markets are subject to market risks.