SENSEX jumps 400 pts, NIFTY50 nears 24,900 in noon deals; Ola Electric, Asian Paints among buzzing stocks

The Indian benchmark indices, SENSEX and NIFTY50, were trading in the positive territory in the afternoon session on Monday, February 2, after crashing on the special Budget session on Sunday.

The SENSEX advanced by as much as 488.37 points to an intraday high of 81,211.31 in early trade. Meanwhile, the NIFTY50 touched the session’s high of 24,942.95, bolstered by buying in infrastructure stocks.

At 12:31 PM, the S&P BSE SENSEX gained by 408.45 points, or 0.44%, to 81,078.26, while NSE’s NIFTY50 was trading at 24,889, reflecting a 63.55 points, or 0.26% increase.

On Sunday, the foreign institutional investors (FIIs) sold stocks worth ₹588.34 crore, while the domestic institutional investors (DIIs) sold equities worth ₹682.73 crore on a net basis, according to exchange data.

The NIFTY50 index was supported by gains in Tata Motors PV (3.16%), Tata Consumer Products (2.97%), Adani Ports and Special Economic Zone (2.28%), Larsen & Toubro (2.23%) and Reliance Industries (2.08%), which were among the top winners.

On the other hand, Shriram Finance (-4.90%), Max Healthcare Institute (-3.02%), Cipla (-2.19%), Trent (-1.72%) and Titan Company (-1.68%) were among the top losers.

Buzzing stocks on February 2: Check list

Infrastructure and capital goods stocks, including Larsen and Toubro, CG Power, BHEL, ABB India and PNC Infratech, among others, were trading mixed on Monday after the government announced a significant rise in capital expenditure in the Budget 2026-27.

Finance Minister Sitharaman outlined in her Budget speech that public capex has grown from around ₹2 lakh crore in FY15 to ₹12.2 lakh crore in FY27. The FM said that over the past decade, the government has boosted infrastructure through InVITs, REITs, NIIF, and NABFID.

To further sustain the growth model, the Finance Minister proposed an Infrastructure Risk Guarantee Fund to support private developers with partial credit guarantees. New dedicated freight corridors and 20 national waterways to boost environmentally sustainable cargo movement. She also proposed a Coastal Cargo Promotion Scheme that aims to double the inland waterways’ share by 2047.

Shares of data centre and AI companies, including Anant Raj, Netweb Technologies, Techno Electric and Engineering, and others, extended gains on Monday, after surging 13% on Sunday.

Finance Minister Nirmala Sitharaman announced a long-term tax initiative aimed at encouraging foreign companies to expand cloud services in India in the Union Budget 2026.

The government proposed a tax holiday for any foreign company that provides cloud services globally using data centre services from India, which will be valid up to 2047.

“It will, however, need to provide services to Indian customers through an Indian reseller entity. I also propose to provide a safe harbour of 15% on cost in case the company providing data centre services from India is a related entity. To harness the efficiency of just-in-time logistics for electronic manufacturing, I propose to provide a safe harbour to non-residents for component warehousing in a bonded warehouse at a profit margin,” Sitharaman said.

Shares of Intellect Design Arena plunged as much as 8.7% to an intraday low of ₹808 apiece on the National Stock Exchange (NSE) on Monday, February 2.

This comes after the company, in a regulatory filing on Friday, reported a standalone loss of ₹7.20 crore in the third quarter of FY26, compared with a net profit of ₹34 crore in the same period last year.

During the quarter, Intellect Design Arena incurred a one-time exceptional expense of ₹8.5 crore on account of the implementation of new labour codes.

Its revenue from operations declined nearly 2% year-on-year (YoY) to ₹381 crore, as against ₹387 crore in the year-ago period.

Latent View Analytics stock rallied as much as 8.78% to the session’s peak of ₹454.80 per equity share, as it posted its earnings for Q3FY26.

The firm posted a 19.69% YoY increase in its consolidated net profit to ₹50.14 crore during the quarter under review, compared to ₹41.89 crore in the December quarter of FY25.

Its revenue from operations jumped 22.01% YoY to ₹278.01 crore for the third quarter of FY26, as against ₹227.84 crore in the year-ago period.

Shares of Ola Electric Mobility fell as much as 3.3% to reach an intraday low of ₹30.46 per unit, despite the company announcing the commencement of deliveries of Ola SHAKTI 9.1 kWh, the "country’s first residential Battery Energy Storage System (BESS) solution powered by 4680 Bharat Cells."

"Deliveries of the 6kW/9.1kWh configuration of Ola SHAKTI have begun today in Bengaluru and will be scaled up across India in the coming months," it said in a regulatory filing on Sunday.

It also announced that it has secured the Bureau of Indian Standards (BIS) certification for the 3kW/5.2kWh configuration of Ola SHAKTI, in continuation of the BIS certification received earlier for the 6kW/9.1kWh variant on January 15, 2026.

With this, Ola Electric is now certified to manufacture and sell both versions of Ola SHAKTI across India.

The stock of Asian Paints surged as much as 3.08% to the day’s high of ₹2,429.50 per equity share, after crude oil prices dropped in international markets as OPEC+ decided to keep oil output unchanged for March. It was among the NIFTY50 index’s top winners.