Intraday Trading Highlights
JSW Steel Ltd. opened the day with a notable gap up of 3.18%, setting a positive tone for the trading session. The stock maintained its upward trajectory, touching a peak of ₹1244.5, just 0.64% shy of its 52-week high of ₹1244.9. This intraday high represents a 3.82% gain compared to the previous close, underscoring strong buying interest during the day.
The stock closed with a day change of 3.2%, outperforming the Ferrous Metals sector by 0.65%. The sector itself gained 2.55%, indicating that JSW Steel’s performance was well above the broader industry trend. This marks the second consecutive day of gains for the stock, which has appreciated by 3.91% over this two-day period.
Technical Positioning and Moving Averages
JSW Steel is trading above all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. This technical positioning suggests sustained positive momentum and a strong trend in the stock’s price action. The proximity to its 52-week high further emphasises the strength of the current rally.
Compared to the Sensex, which experienced a volatile session, JSW Steel’s performance stands out. The Sensex opened 3,656.74 points higher but later declined by 1,377.65 points, closing at 83,945.55, down 2.79%. Despite this, JSW Steel managed a 3.11% gain against the Sensex’s 2.80% loss on the day, highlighting its relative strength.
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Performance Relative to Benchmarks
JSW Steel’s recent performance over various time frames highlights its resilience and growth relative to the broader market. Over the past week, the stock has gained 1.24%, while the Sensex rose 2.56%. Over one month, JSW Steel outperformed with a 4.72% gain compared to the Sensex’s decline of 2.11%. The three-month return stands at 3.49%, marginally ahead of the Sensex’s flat performance (-0.03%).
Longer-term returns are particularly notable. Over one year, JSW Steel has delivered a 32.31% return, significantly outperforming the Sensex’s 8.76%. Year-to-date, the stock has gained 6.10%, while the Sensex has declined by 1.49%. Over three and five years, JSW Steel’s returns of 68.78% and 214.62% respectively far exceed the Sensex’s 37.98% and 67.05%. The ten-year performance is even more striking, with JSW Steel appreciating by 1170.76% compared to the Sensex’s 246.57%.
Market Context and Sector Activity
The broader market environment on 3 Feb 2026 was characterised by a loss of momentum in the Sensex after a strong gap up opening. Despite the Sensex’s decline of 2.79% by close, mega-cap stocks led the market, providing some support. JSW Steel’s sector, Ferrous Metals, showed strength with a 2.55% gain, reflecting positive sentiment within the steel and allied industries.
JSW Steel’s market capitalisation grade remains at 1, indicating its status as a large-cap stock. The company’s Mojo Score stands at 68.0, with a current Mojo Grade of Hold, downgraded from Buy on 28 Jan 2026. This grading reflects a balanced view of the stock’s fundamentals and market positioning.
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Summary of Trading Action
JSW Steel’s strong intraday performance on 3 Feb 2026 was driven by a combination of positive sector momentum, technical strength, and relative outperformance against the Sensex. The stock’s ability to sustain gains above key moving averages and near its 52-week high highlights robust demand during the session. The two-day consecutive gain of 3.91% further emphasises the stock’s current upward trend.
While the broader market experienced volatility and a pullback after a gap up opening, JSW Steel maintained its strength, closing well above its previous levels. This performance underscores the stock’s resilience within the Ferrous Metals sector and its capacity to outperform in a fluctuating market environment.
Looking Ahead
JSW Steel’s current trading levels and intraday high of ₹1244.5 place it in close proximity to its 52-week peak, reflecting sustained investor interest and positive market dynamics. The stock’s technical indicators and relative strength compared to the Sensex and sector peers provide a clear picture of its current market standing as of 3 Feb 2026.
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