Bajaj Finance Ltd Opens Strong with 4.63% Gap Up Amid Positive Market Sentiment

Opening Price Surge and Intraday Performance

On 3 Feb 2026, Bajaj Finance Ltd opened at a price reflecting a 4.63% gain compared to the prior session’s close. This gap up was accompanied by an intraday high of Rs 974.55, representing a 7.76% increase from the previous close. The stock’s day change closed at 4.64%, outperforming the Sensex’s 2.60% gain and the NBFC sector’s 3.5% rise. This performance underscores a strong start and sustained buying interest during the trading session.

Sector and Market Context

The NBFC sector, to which Bajaj Finance Ltd belongs, recorded a 3.5% gain on the day, indicating a broadly positive environment for financial stocks. Bajaj Finance Ltd’s outperformance by 0.95% relative to its sector peers highlights its relative strength. However, the stock’s one-month performance remains negative at -4.42%, lagging the Sensex’s -2.30% over the same period, suggesting some recent volatility despite the current positive momentum.

Technical Indicators and Moving Averages

From a technical perspective, Bajaj Finance Ltd’s price opened above its 5-day moving average, signalling short-term bullishness. However, it remains below its 20-day, 50-day, 100-day, and 200-day moving averages, indicating that longer-term trends are yet to confirm a sustained upward trajectory. The stock’s adjusted beta of 1.07 relative to the Sensex suggests it is a high beta stock, typically exhibiting greater price volatility than the broader market.

Technical Summary Across Timeframes

Analysing technical indicators reveals a mixed picture. The Moving Average Convergence Divergence (MACD) is bearish on a weekly basis and mildly bearish monthly, while the Relative Strength Index (RSI) shows no clear signal on both weekly and monthly charts. Bollinger Bands indicate bearishness weekly but mildly bullish conditions monthly. The Know Sure Thing (KST) indicator is bearish weekly but bullish monthly. Dow Theory assessments are mildly bearish across both weekly and monthly timeframes. On-Balance Volume (OBV) trends mildly bearish weekly and monthly. Collectively, these signals suggest caution amid the current positive price action.

Consecutive Gains and Momentum

Bajaj Finance Ltd has recorded gains for two consecutive trading days, accumulating a 4.85% return over this period. This recent upward momentum aligns with the gap up opening and intraday strength observed on 3 Feb 2026. The stock’s ability to maintain gains above the short-term moving average supports the view of sustained positive momentum in the near term.

Market Capitalisation and Mojo Score

The company holds a Market Cap Grade of 1, reflecting its large market capitalisation status within the NBFC sector. Its current Mojo Score stands at 61.0 with a Mojo Grade of Hold, downgraded from Buy as of 1 Feb 2026. This adjustment indicates a more cautious stance based on recent performance and technical assessments, despite the strong opening on 3 Feb 2026.

Price Action Relative to Benchmarks

Comparing Bajaj Finance Ltd’s performance to the Sensex and sector benchmarks provides further insight. The stock’s 4.64% gain on 3 Feb 2026 notably outpaces the Sensex’s 2.60% rise, signalling relative strength. However, the one-month negative return of -4.42% versus the Sensex’s -2.30% suggests that the stock has experienced some pressure in recent weeks, which the current gap up partially offsets.

Gap Fill Potential and Price Stability

While the stock opened with a significant gap up, the presence of resistance at longer-term moving averages—20-day, 50-day, 100-day, and 200-day—may limit immediate further upside. The gap fill phenomenon, where prices retrace to close the gap, remains a possibility given the mixed technical signals. However, the current daily moving average support and consecutive gains suggest that the stock has established a short-term base above recent levels.

Summary of Market Sentiment and Price Action

Bajaj Finance Ltd’s strong opening on 3 Feb 2026, marked by a 4.63% gap up and intraday high of Rs 974.55, reflects positive market sentiment within the NBFC sector. The stock outperformed both its sector and the Sensex, supported by short-term technical strength and consecutive gains. Nonetheless, mixed technical indicators and the downgrade in Mojo Grade to Hold advise measured observation of price action in the coming sessions.

Volatility Considerations

With an adjusted beta of 1.07, Bajaj Finance Ltd is classified as a high beta stock, implying that it tends to experience larger price swings relative to the broader market. This characteristic is consistent with the observed gap up and intraday volatility. Investors monitoring the stock should be aware of this elevated price movement potential in the context of broader market trends.

Conclusion

The significant gap up opening of Bajaj Finance Ltd on 3 Feb 2026, combined with its outperformance of sector and market indices, highlights a strong start to the trading day. While technical indicators present a nuanced outlook, the stock’s short-term momentum and consecutive gains indicate a positive trading environment. The interplay between gap fill potential and resistance at longer-term moving averages will be key to watch in subsequent sessions.

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