The Indian stock market kicked off the trading week on a strong note, as both the benchmark indices surged over 0.50%, reflecting renewed investor optimism. Positive market sentiment was further fueled by easing trade tensions and favourable global cues, creating momentum across sectors, particularly in export-oriented stocks.
- Nifty 50 climbed 176 points (0.70%) to 25,870, while
- S&P BSE Sensex ended 0.60% higher at 84,072.
The broader markets outperformed the headline indices, with the Nifty Midcap 100 gaining 1.60% and the Nifty Smallcap 100 rallying 2.64%, showing a widespread uptick in market participation.
Market Performance: Global Cues and Domestic Momentum
The market rally was supported by a joint US-India statement, where both nations agreed to lower tariffs, easing trade-related concerns. Notably, US President Donald Trump signed an executive order revoking the additional 25% tariff on Indian goods tied to Russian oil imports, reducing the effective rate to 18% from the earlier 50%.
- India committed to purchasing USD 500 billion worth of US energy products, aircraft, technology, precious metals, and coking coal over the next five years.
- Softening crude oil prices and a weaker US dollar contributed to improved market conditions.
- Foreign portfolio investors (FPIs) have shown renewed confidence, pouring ₹8,129 crore into Indian equities so far this February, as per NSDL data.
Top Gainers: Shipping Corp, SBI, Kalyan Jewellers Shine
Several companies surged sharply, led by Shipping Corporation, which topped the gainers chart:
- Shipping Corporation: +20% to ₹266.2, driven by a strong December quarter performance.
- Kalyan Jewellers: +14% to ₹436, reacting positively to Q3 numbers.
- Transformers & Rectifiers: +15.2% to ₹285.65, marking its largest intraday gain in recent sessions.
- SBI: +7.5% to ₹1,147, reaching a record high and crossing a market capitalisation of ₹10 lakh crore, reclaiming its spot as the second-most valuable bank.
- Kaynes Technology: +6.58% to ₹3,943, continuing its winning streak for the third consecutive session.
- BEML: +9% to ₹1,761, reflecting investor confidence in defence sector plays.
Other notable gainers included PCBL Chemical, Elecon Engineering, Aditya Birla Fashion, BASF India, Carborundum Universal, and JM Financial, all posting positive returns amid broad market momentum.
Top Losers: Concord Biotech, Reliance Infra, IDBI Bank
Not all stocks participated in the market upswing. Some key names continued to decline:
- Concord Biotech: -4.1% to ₹1,272
- Caplin Point Laboratories, REC, Sarda Energy & Minerals, Max Healthcare Institute: -3% or more
- Reliance Infrastructure: -3% to ₹116.7, extending a three-day losing streak
- IDBI Bank: -2.6% to ₹104
Other laggards included Five-Star Business Finance, Siemens, Page Industries, Bosch, Hexaware Technologies, and Siemens Energy India, all losing more than 2%.
Company Highlights: Key Drivers Behind Gains
- Shipping Corporation: Strong Q3 earnings gave investors confidence in future growth.
- SBI: Continued robust performance helped it reclaim its valuation status among banks.
- Kalyan Jewellers & Kaynes Technology: Consistent quarterly numbers and sectoral strength boosted investor sentiment.
The broader market gains in midcaps and smallcaps indicate renewed confidence across multiple sectors, driven by trade optimism and easing geopolitical tensions.
Summary: Market Mood & Key Takeaways
- Indices: Nifty 50 +0.70%, Sensex +0.60%
- Broader Markets: Midcap +1.60%, Smallcap +2.64%
- Top Gainers: Shipping Corp (+20%), Kalyan Jewellers (+14%), SBI (+7.5%)
- Top Losers: Concord Biotech (-4.1%), Reliance Infra (-3%), IDBI Bank (-2.6%)
- Investor Sentiment: Strengthened by US-India trade developments, softer crude, and FPI inflows
Overall, February 09 saw a broad-based market rally, with clear leadership from export-oriented and PSU stocks, while select sectors and companies remained under pressure. The trading day reflected both global cues and domestic fundamentals, highlighting a strong start to the week for Indian equities.
Source: Livemint
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