Market Snapshot: February 3, 2026 **Index Performance** Nifty witnessed a dramatic session, opening with a massive gap-up at **26,308** driven by the historic India-US trade deal. However, the index saw significant profit-taking from higher levels, shedding over **600 points** from the intraday high of **26,341** to close near **25,713**. Despite the intraday sell-off, the benchmark ended with a strong gain of approximately **2.5%**. **Volatility & Sentiment** Market sentiment remains broadly positive, transitioning to a "buy-on-dips" texture. The cooling of anxiety is visible in the India VIX, which dropped nearly **6%** to settle around **13.05**, indicating reduced fear among traders. Momentum indicators suggest that while the immediate euphoria has settled, the trend remains structurally bullish as long as key supports hold. **Technical Levels** The index successfully defended the **25,200** zone, which aligns with the critical 200-day moving average. Analysts highlight **25,300** as the immediate support to watch. On the upside, the **25,800–26,000** band acts as the renewed resistance zone following the intraday rejection. **Sectoral Movers** Heavyweights orchestrated the initial surge, with **Power Grid** and **Reliance Industries** leading the charge. Infrastructure and consumption themes outperformed, while select IT and financial stocks faced resistance at higher levels, capping the day's upside. **Global Cues** Positive global headwinds provided the launchpad for today's action, primarily fueled by the trade agreement easing geopolitical concerns. US markets closed higher overnight, reinforcing the risk-on setup for emerging markets like India. [Indian Market To Open Lower Today Amid Bearish Global Cues | CNBC TV18](https://www.youtube.com/watch?v=nasqjij91Jk) This video provides context on the global cues and market setup influencing recent volatility and trading sessions. http://googleusercontent.com/youtube_content/0