**Global Market Snapshot: February 4, 2026** **Overview** Global markets are navigating a period of high volatility driven by sector rotation and geopolitical shifts. While benchmark indices in India show resilience led by banking and energy, the technology sector faces significant headwinds following a rout in US tech stocks. Commodities remain active with gold stabilizing after record highs, and crude oil softening on easing geopolitical tensions. **Equity Markets** **India (Sensex & Nifty)** Indian benchmarks staged a recovery today, decoupling from the weakness in global tech. * **Nifty 50:** Trading around **25,088**, up approximately **1.06%**. * **Sensex:** Rose to **83,739**, gaining **2.54%** intraday. * **Sector Divergence:** Banking and energy are the top performers, with **Nifty Bank** surging over **2.4%** to cross **60,000**. Conversely, IT stocks remain under heavy pressure—**Infosys** and **TCS** are down **5–8%**—tracking the sharp sell-off in the Nasdaq and US tech peers. **Global Sentiment** US futures remain muted as investors digest the "tech wreck" that pushed the Nasdaq lower overnight. The broader market sentiment is cautious, awaiting clarity on the newly announced **India-US trade deal**, which includes tariff reductions (down to **18%**) and strategic agreements on defense and energy. **Cryptocurrency** **Bitcoin & Altcoins** The crypto market is undergoing a deepening correction, reacting to risk-off sentiment in the US. * **Bitcoin (BTC):** Trading near **$76,500**, down roughly **2.8%** over the last 24 hours. Prices briefly dipped to **$73,000**—levels not seen since late 2024. * **Market Trends:** Heavy liquidations have been reported, with the total crypto market capitalization testing the **$1.68 trillion** support level. Altcoins are seeing steeper declines, with major tokens mirroring the weakness in high-growth tech stocks. **Commodities** **Gold & Silver** Precious metals are seeing wild swings but remain a key safe haven. * **Gold:** Currently trading at **$5,064/oz**. After hitting a record high near **$5,600** last week, prices corrected sharply (falling nearly **8%** Monday) but are stabilizing as bargain hunters step in. * **Drivers:** The volatility is linked to the nomination of **Kevin Warsh** as the new Federal Reserve Chair, signaling potentially tighter balance-sheet policies, alongside ongoing US-Iran diplomatic talks. **Energy** Oil prices have cooled significantly as fears of immediate conflict in the Middle East subside. * **Crude Oil:** WTI is trading around **$63.70** per barrel, while Brent hovers near **$67.80**. * **Outlook:** Prices have retreated from recent highs of **$71**, pressured by the resumption of diplomatic talks and ample supply signals from OPEC+, despite the pause in output hikes. **Macro Outlook** The **IMF** has updated its 2026 growth projections, forecasting global growth at **3.3%**. A significant power shift is evident, with **India and China** now projected to contribute nearly **44%** of total global economic expansion this year, outpacing the US contribution of **9.9%**. *Next Step: