**Market Brief: Post-Budget Rebound** **Monday, February 2, 2026** Indian equity benchmarks staged a robust recovery today, snapping a two-day losing streak triggered by the Union Budget's STT hike on derivatives. Value buying in heavyweights drove the momentum, erasing a significant portion of Sunday's knee-jerk losses. **Indices Snapshot** The **Nifty 50** reclaimed the psychological 25,000 mark, ending at **25,088.40**, up by **263 points (+1.06%)**. The **Sensex** outperformed, surging **944 points (+1.17%)** to close at **81,666.46**. Broader markets participated in the rally, with Midcap and Smallcap indices gaining between 0.6% and 1%. **Sectoral Drivers** Buying was broad-based but led by sharp gains in **Auto**, **Energy**, and **Metals**. The Nifty Auto index climbed over **2%**, buoyed by strong January sales data from key players like Tata Motors. Energy stocks rallied as global crude oil prices cooled, offering relief to operational margins. Metal stocks also saw buying interest despite recent volatility in global commodity prices. Top gainers included **Power Grid**, **Tata Motors**, and **Adani Ports**, while selective profit-booking was observed in the IT and Healthcare pockets. **Technical Outlook** Despite today's surge, the technical structure remains fragile. Analysts highlight that the Nifty is still trading below its critical **200-Day Moving Average (DMA)**, located near the **25,200** level. Market experts view this pullback as a relief rally within a broader weak trend. The zone between **25,170 and 25,200** acts as a stiff resistance. Until the index decisively crosses and sustains above this hurdle, the "sell on rise" texture persists. Immediate support is pegged at **24,900**. **Trading Stance** Volatility has cooled slightly but remains elevated. Traders are advised to maintain strict stop-losses and focus on stock-specific opportunities rather than aggressive index leveraging until a clear breakout above the 200-DMA is confirmed.