**MARKET BRIEF | FEB 04, 2026** **🇮🇳 Indian Indices: Profit Booking Kicks In** After a historic rally fueled by the new US-India trade agreement, domestic markets opened in the red today as investors moved to book profits. * **Nifty 50** slipped **0.22%** to trade near **25,671**. * **Sensex** declined by over **260 points** to hover around **83,470**. * **Sector Watch:** IT stocks are facing headwinds following a tech sell-off in the US. However, gems, jewellery, and textile stocks remain in focus, benefiting from the slashed US tariffs (down to **18%** from 25%). **🌏 Global Cues: Tech Under Pressure** Global sentiment is mixed with a negative bias from Wall Street. * **US Markets:** Indices closed sharply lower yesterday. Investors are jittery about intensifying competition in the AI software space, leading to a sell-off in major tech heavyweights. * **Earnings Caution:** The market is adopting a wait-and-watch approach ahead of quarterly results from giants like Amazon and Alphabet later this week. **🛢 Commodities: Oil & Gold** * **Crude Oil:** Prices have cooled slightly but remain volatile. **Brent Crude** is trading around **$68/barrel** and **WTI** near **$63.60**, influenced by easing geopolitical tensions and high US inventory levels. * **Gold:** Precious metals are stabilizing after recent fluctuations, with gold prices consolidating as traders assess the impact of the new trade dynamics. **🪙 Crypto: Bitcoin Slides** The crypto market is seeing a broad correction today. * **Bitcoin (BTC)** dropped roughly **1.5%** to trade at **$76,920**, retreating from recent highs. * **Ethereum (ETH)** and other altcoins followed suit, reflecting a risk-off sentiment in digital assets. **📅 Key Events to Watch** * **RBI Policy:** The Monetary Policy Committee (MPC) decision is due on **Feb 6**. Expectations are for a status quo on rates, with the central bank likely adopting a wait-and-watch stance given the strong economic growth. * **Trade Deal Details:** Markets continue to digest the fine print of the US-India pact, particularly the clause involving the halt of Russian oil purchases in exchange for tariff benefits. ----- [Market Highlights: Sensex settles 2,073 pts higher on trade deal euphoria](https://www.google.com/search?q=https://www.youtube.com/watch%3Fv%3DkY67l7vJgGk) This video provides context on the massive rally preceding today's profit booking, detailing the specific impacts of the US-India trade deal that is currently driving market sentiment.