Key Events This Week
2 Feb: Stock opens at Rs.77.77 amid Sensex decline
3 Feb: Stock rebounds +0.91% with Sensex rally
4 Feb: Q3 FY26 results reveal profit plunge; technical momentum shifts
5 Feb: Stock surges +1.90% despite Sensex dip
6 Feb: Week closes at Rs.79.43, marginally down -0.69% on day
2 February 2026: Opening Amid Market Weakness
NHPC Ltd began the week at Rs.77.77, down 0.55% from the previous Friday’s close of Rs.78.20. This decline coincided with a broader market sell-off, as the Sensex dropped 1.03% to 35,814.09. The stock’s volume was moderate at 515,898 shares, reflecting cautious trading amid negative market sentiment. The initial weakness set a subdued tone for the week’s early sessions.
3 February 2026: Recovery Alongside Sensex Rally
On 3 February, NHPC rebounded by 0.91% to close at Rs.78.48, supported by a strong Sensex rally which surged 2.63% to 36,755.96. The stock’s volume increased to 633,443 shares, indicating renewed buying interest. This recovery was in line with the broader market optimism, although NHPC’s gain was more modest compared to the Sensex’s sharp advance.
4 February 2026: Profit Plunge and Technical Momentum Shift
The most significant event of the week occurred on 4 February, when NHPC reported its Q3 FY26 results revealing a sharp profit plunge attributed to rising interest burden and margin compression. Despite this negative fundamental news, the stock closed almost flat at Rs.78.49, up a mere 0.01%, on heavy volume of 1,391,092 shares. The muted price reaction suggests investors were digesting the impact cautiously.
Simultaneously, technical analysis indicated a subtle shift in momentum. The stock moved from a bearish to a mildly bearish stance, with mixed signals from key indicators. Weekly MACD showed mild bullishness, while monthly MACD remained bearish. RSI readings were neutral, and Bollinger Bands suggested downward pressure. The Know Sure Thing (KST) and Dow Theory assessments also reflected a cautious outlook. On-balance volume failed to confirm price moves, indicating limited conviction behind recent gains.
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5 February 2026: Price Surge Despite Market Dip
NHPC posted its strongest daily gain of the week on 5 February, climbing 1.90% to Rs.79.98. This advance came despite a 0.53% decline in the Sensex to 36,695.11, highlighting relative strength in the stock. Volume surged to 1,843,529 shares, the highest of the week, signalling robust buying interest. The price move suggested that some investors viewed the prior day’s profit plunge as a near-term overreaction, prompting accumulation at lower levels.
6 February 2026: Week Closes Slightly Lower
The week concluded on 6 February with NHPC retreating 0.69% to Rs.79.43 on lighter volume of 404,137 shares. The Sensex inched up 0.10% to 36,730.20. The minor pullback in NHPC’s price after the previous day’s rally may reflect short-term profit-taking or consolidation ahead of further clarity on fundamentals and technical trends.
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-02-02 | Rs.77.77 | -0.55% | 35,814.09 | -1.03% |
| 2026-02-03 | Rs.78.48 | +0.91% | 36,755.96 | +2.63% |
| 2026-02-04 | Rs.78.49 | +0.01% | 36,890.21 | +0.37% |
| 2026-02-05 | Rs.79.98 | +1.90% | 36,695.11 | -0.53% |
| 2026-02-06 | Rs.79.43 | -0.69% | 36,730.20 | +0.10% |
Key Takeaways
NHPC Ltd’s weekly performance was characterised by a modest 1.57% gain, marginally outperforming the Sensex’s 1.51% rise. The stock demonstrated resilience despite a significant profit decline reported midweek, suggesting that investors are weighing near-term challenges against longer-term fundamentals.
The technical momentum shift to mildly bearish, combined with mixed indicator signals, points to a consolidation phase rather than a decisive trend reversal. The divergence between weekly and monthly MACD readings, neutral RSI, and bearish Bollinger Bands highlight the complexity of the current technical landscape.
Volume trends showed increased activity on days of price gains, particularly on 5 February, indicating selective buying interest. However, the lack of volume confirmation on other days tempers enthusiasm for a sustained rally.
Longer-term performance metrics remain favourable for NHPC, with strong returns over three, five, and ten-year horizons, underscoring the company’s fundamental growth despite recent volatility.
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Conclusion
NHPC Ltd’s week was marked by a delicate balance between fundamental headwinds and technical uncertainty. The sharp profit decline reported on 4 February weighed on sentiment, yet the stock’s ability to close the week with a positive return relative to the Sensex indicates underlying resilience. The mixed technical signals suggest that NHPC is in a consolidation phase, with investors advised to monitor momentum indicators and volume trends closely for clearer directional cues.
While the short-term outlook remains cautious, NHPC’s strong historical performance over multiple years continues to provide a foundation of confidence for long-term investors. The coming weeks will be critical in determining whether the stock can translate its technical momentum shift into a sustained recovery or if further downside pressures will prevail.
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