**MARKET BRIEF: INDIA EQUITIES | FEBRUARY 04, 2026** **Pre-Market Snapshot** Indian benchmark indices are bracing for a volatile start following yesterday's historic rally. While the **India-US trade agreement** continues to buoy domestic sentiment, weak global cues—specifically a sharp sell-off in US technology stocks—suggest a cautious opening. **GIFT Nifty** trends indicate a flat-to-negative start, trading near **25,779**, down approximately **80 points** from the previous close, signaling early pressure. **Previous Session Recap (Feb 03)** Markets witnessed a massive relief rally fueled by the new trade pact reducing tariffs on Indian goods to **18%**. * **Sensex:** Closed at **83,739.13**, surging **2,073 points** (+2.54%). * **Nifty 50:** Settled at **25,727.55**, up **639 points** (+2.55%). * **Market Cap:** Investors added over **₹12 lakh crore** in wealth in a single session. **Key Drivers & Triggers** **1. Trade Deal Optimism:** The reduction of tariffs from **25%** to **18%** under the new India-US deal is a major structural positive. Sectors like **Textiles, Pharma, and Chemicals** are expected to see sustained buying interest as direct beneficiaries of lower trade barriers. **2. Global Tech Rout:** Overnight weakness in Wall Street, driven by a sell-off in AI and software stocks (Nasdaq down **1.43%**), is likely to weigh on the domestic **IT sector**. Stocks like **Infosys, TCS, and Wipro** may face opening headwinds. **3. Adani Group Momentum:** Infrastructure and energy themes remain hot. **Adani Enterprises** (+12% yesterday) and **Adani Ports** (+8%) saw heavy buying on expectations of improved energy trade. Momentum in these counters is expected to persist. **Sector & Stock Watch** * **Bullish:** **Renewable Energy & Utilities** (Waaree Energies, Premier Energies) continue to attract volume on export clarity. * **Bearish:** **IT Services** remain vulnerable to the global tech correction. * **Results Focus:** **Tata Chemicals** and **RailTel** are in focus ahead of their Q3 earnings releases today. **Technical Outlook** Nifty has reclaimed the **25,700** mark, shifting the short-term trend to positive. * **Immediate Support:** **25,500** * **Key Resistance:** **25,800 – 26,000** Traders are advised to watch for profit booking at higher levels given the sharp **2,000-point** surge in the Sensex over the last 24 hours.