New Delhi, Feb. 4 -- Market update: Nifty and Bank Nifty analysis

On 3 Feruary, the market closed in the red amid weak global cues and concerns over low capex allocation in the Union Budget 2025-26, triggering a sharp sell-off in capex-related stocks. The Nifty declined 121.10 points to close at 23,361 (-0.52%), while the Bank Nifty dropped 296 points to settle at 49,210 (-0.60%).

Also Read: Quantum computing vs traditional AI: Which tech stocks are must-haves in 2025?

Major sell-offs were observed in PSE (-3.2%), ENERGY (-3%), and OIL & GAS (-2.22%). All sectors closed in the red, except IT INDEX (+0.68%), HEALTH CARE (+0.19%), AUTO (+0.09%), SERVICE SECTOR (+0.02%).

The top performers among the Nifty 50 stocks were BAJAJ FINANCE (+5...