February 6, 2026: Nifty Trades Marginally Lower in Late Morning as IT Stocks Drag; ITC and Banks Support

Indian equity markets were trading on a cautious note in late morning trade on Friday, February 6, 2026, with the Nifty 50 hovering slightly below the flat line. While heavy selling pressure in IT stocks weighed on the benchmark, strength in FMCG, banking, and select financial stocks helped limit the downside. Overall, the market reflected a mixed and stock-specific trend, with investors staying selective amid uncertain cues.

Also Read: February 5, 2026: Nifty Ends Lower Despite Late Recovery; Trent and Metal Stocks Shine

Market Snapshot: Benchmarks Largely Range-Bound

At around 11:35 IST, the Nifty 50 was trading at 25,605.70, down 37.10 points or 0.14%. The index opened almost flat at 25,605.80, moved to an intraday high of 25,630.80, and touched a low of 25,491.90, indicating a narrow but volatile trading range during the session.

Other key indices showed mild weakness:

• Nifty Next 50 declined 0.54% to 68,598.55

• Nifty Financial Services slipped 0.06% to 27,674.00

• Nifty Bank eased 0.28% to 59,896.15

The overall market tone suggested consolidation after recent sessions of volatility.

Top Gainers: ITC, Kotak Bank and Bharti Airtel Lead

Despite the muted benchmark performance, several frontline stocks posted strong gains:

• ITC jumped 3.82% to ₹322.05, emerging as the top gainer, supported by strong buying interest and heavy volumes.

• Kotak Mahindra Bank rose 3.17% to ₹421.70, providing strength to the banking space.

• Bharti Airtel advanced 1.66% to ₹2,025.50, lending support to the telecom sector.

• Bajaj Finance gained 1.15% to ₹975.80, reflecting steady interest in financial stocks.

• Power Grid added 0.98% to ₹292.20, indicating defensive buying in the power utility space.

These gains helped cushion the broader market from sharper losses.

Top Losers: IT Stocks Under Pressure

The IT sector remained the biggest drag on the indices, with several heavyweight stocks witnessing selling pressure:

• TCS slipped 2.18% to ₹2,926.20, leading the losers’ pack.

• SBI Life declined 1.89% to ₹1,979.70, reflecting weakness in the insurance space.

• Tech Mahindra fell 1.64% to ₹1,619.20, extending losses in IT counters.

• HCL Technologies dropped 1.56% to ₹1,584.90, adding to the sectoral drag.

• Wipro eased 1.50% to ₹229.89, rounding off the list of major IT losers.

The broad-based weakness in IT stocks indicates cautious sentiment toward the sector in the current session.

Market Sentiment and Near-Term Outlook

The market’s narrow movement suggests a phase of consolidation, with investors balancing gains in defensives and financials against losses in IT and select large-cap names. The mixed sectoral performance highlights a stock-specific approach rather than a strong directional trend.

In the near term, traders are likely to stay cautious and reactive to global cues, currency movements, and institutional flows, while investors may prefer to wait for clearer triggers before making aggressive bets.

Conclusion: February 6, 2026

The Nifty 50 traded marginally lower in late morning trade, weighed down by weakness in IT stocks, even as strong gains in ITC, Kotak Bank, and Bharti Airtel provided support. The session so far reflects a cautious and selective market, with consolidation likely to continue in the absence of strong fresh triggers.

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