Intraday Trading Highlights
Jindal Saw Ltd opened the day with a significant gap-up of 6.92%, signalling strong buying interest from the outset. The stock maintained upward momentum throughout the session, touching a peak price of Rs 189.35, representing a 7.34% gain intraday. By the close, the stock recorded a day change of 7.03%, firmly outperforming the Sensex, which gained 2.75% on the day.
The stock’s performance also outpaced its sector peers in Iron & Steel Products, which collectively gained 3.21%. Jindal Saw’s outperformance relative to the sector was 3.25%, underscoring its relative strength within the industry group.
Technical indicators showed the stock trading above its 5-day, 20-day, 50-day, and 100-day moving averages, signalling short- to medium-term strength. However, it remained below the 200-day moving average, indicating some longer-term resistance levels yet to be overcome.
Jindal Saw has now recorded gains for two consecutive trading days, accumulating an 8.86% return over this period. This recent positive trend contrasts with its longer-term performance, where the stock has declined 19.61% over the past year, despite strong multi-year gains of 188.90% over three years and 389.26% over five years.
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Market Context and Sector Activity
The broader market experienced a volatile session on 3 Feb 2026. The Sensex opened sharply higher by 3,656.74 points but lost momentum to close down by 1,410.97 points, settling at 83,912.23, a 2.75% decline from the day’s peak. Despite this, the index remains close to its 52-week high of 86,159.02, just 2.68% away.
Technical analysis of the Sensex reveals it trading below its 50-day moving average, although the 50-day average remains above the 200-day average, suggesting a mixed medium-term trend. Mega-cap stocks led the market action, supporting the index’s resilience despite intraday volatility.
Within the Iron & Steel Products sector, the Steel/Sponge Iron/Pig Iron segment gained 3.21%, reflecting moderate strength. Jindal Saw’s 7.03% gain notably outpaced this sector movement, highlighting its relative outperformance amid sector-wide gains.
Performance Metrics and Mojo Ratings
Jindal Saw Ltd holds a Mojo Score of 37.0 with a current Mojo Grade of Sell, upgraded from a Strong Sell on 8 Jan 2026. The market capitalisation grade stands at 3, indicating a mid-tier market cap classification. These ratings reflect a cautious stance despite the recent positive price action.
Performance comparisons over various timeframes illustrate a mixed picture. While the stock has delivered strong returns over longer horizons—up 188.90% over three years and 720.07% over ten years—it has underperformed the Sensex over the past year, declining 19.61% versus the Sensex’s 8.71% gain. Year-to-date, however, Jindal Saw has outperformed the Sensex by 13.44 percentage points, rising 11.90% compared to the Sensex’s -1.54%.
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Summary of Trading Action
Jindal Saw Ltd’s strong intraday performance on 3 Feb 2026 was characterised by a decisive gap-up opening and sustained buying interest throughout the session. The stock’s ability to outperform both the Sensex and its sector peers highlights its current trading strength. The two-day consecutive gains and the stock’s position above multiple moving averages further reinforce the positive momentum.
Despite the broader market’s volatility and the Sensex’s intraday reversal, Jindal Saw maintained a firm upward trajectory. This resilience amid mixed market conditions emphasises the stock’s relative strength within the Iron & Steel Products sector on this trading day.
Investors monitoring technical levels will note the stock’s challenge remains the 200-day moving average, which currently caps its longer-term upside. The recent upgrade in Mojo Grade from Strong Sell to Sell on 8 Jan 2026 suggests some improvement in underlying metrics, though the overall rating remains cautious.
In conclusion, Jindal Saw Ltd’s intraday high of Rs 189.35 and 7.03% gain on 3 Feb 2026 mark a notable performance within a volatile market environment, supported by sector gains and positive short-term technical indicators.
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