The key equity benchmarks closed sharply higher on Tuesday, extending their winning streak to a second straight session as risk appetite strengthened. Fresh foreign inflows, optimism around the recently concluded India-US trade agreement and supportive Asian market cues powered the rally, while sentiment received an added lift from key agreements signed between India and Malaysia. The Nifty 50 climbed above the 25,850 mark, led by strong buying in consumer durables and PSU banking stocks.
The S&P BSE Sensex jumped 485.35 points or 0.58% to 84,065.75. The Nifty 50 index rallied 173.60 points or 0.68% to 25,867.30. In the two consecutive trading sessions, Sensex and Nifty jumped 0.90% and 0.88%, respectively.
State Bank of India (up 7.63%), Shriram Finance (up 6.03%) and Titan Company (up 3.04%) boosted the Nifty today.
The broader market outperformed the frontline indices. The BSE 150 MidCap Index climbed 1.66% and the BSE 250 SmallCap Index surged 2.45%.
The market breadth was strong. On the BSE, 3,110 shares rose and 1,254 shares fell. A total of 173 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 2.09% to 12.19.
India-Malaysia sign key agreements:
Prime Minister (PM) Narendra Modi visited Malaysia from 7 February to 8 February 2026 and held bilateral talks with Malaysian PM Anwar Ibrahim. The wide-ranging talks during the two-day official visit, marked a significant step in strengthening the Comprehensive Strategic Partnership between India and Malaysia.
India and Malaysia has signed 11 Memorandums of Understanding (MoUs) and exchanged several bilateral documents across a broad range of sectors during Prime Minister Narendra Modi's two-day official visit to Kuala Lumpur. The agreements, signed in the presence of PM Modi and his Malaysian counterpart Anwar Ibrahim following delegation-level talks, span trade and investment, semiconductors, digital economy, healthcare, security cooperation and peacekeeping, officials said.
The two leaders launched Malaysia-India Digital Council (MLDC) and backed NPCI'PayNet payment link, paving way to introduce India's Unified Payments Interface (UPI) system in Malaysia. This initiative will simplify cross-border payments for businesses and travellers and strengthen financial ties between the two economies.
Numbers to Track:
The yield on India's 10-year benchmark federal paper rose 0.40% to 6.760 compared with previous session close of 6.733.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 90.7400 compared with its close of 90.6500 during the previous trading session.
MCX Gold futures for 5 April 2026 settlement rose 0.77% to Rs 156,641.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.24% to 97.41.
The United States 10-year bond yield rose 0.50% to 4.224.
In the commodities market, Brent crude for April 2026 settlement fell 11 cents or 0.16% to $67.94 a barrel.
Global Markets:
Most European market declined while Asian indices ended higher on Monday, led by a surge in Japanese stocks following Prime Minister Sanae Takaichi's historic landslide election victory.
The ruling Liberal Democratic Party captured a two-thirds supermajority in the 465-seat lower house, public broadcaster NHK reported.
A decisive win for Takaichi could be the 'best outcome' for markets over the medium term, as strategic investments and tax reform bolster equities, said Sree Kochugovindan, media report said.
Japanese stocks have hit several highs over the past few months, driven by the so-called 'Takaichi trade' as markets expect the prime minister's economic policies ' seen as growth‑focused continuation of Abenomics ' to boost equities, while weakening the yen as she pushes for a looser monetary policy and higher government spending.
U.S. President Donald Trump congratulated Takaichi on her victory in a TruthSocial post.
Last Friday in the U.S., stocks surged as tech names recovered following several days of heavy selling in the sector and bitcoin rebounded following a rout that took the popular cryptocurrency down more than 50% from its high in October last year.
The Dow Jones Industrial Average advanced 2.47%, closing at 50,115.67. Friday marked the first time the Dow exceeded the 50,000 level. The S&P 500 jumped 1.97%, while the Nasdaq Composite advanced 2.18%. With those moves, the S&P 500 climbed back into the green for 2026.
Stocks in Spotlight:
State Bank of India has rallied 7.46% after the bank reported 24.49% jump in net profit to Rs 21,028 crore on a 9.69% increase in total income to Rs 1,40,915 crore in Q3 FY26 as compared with Q3 FY25. The bank has received a one-time dividend income of nearly Rs 2,200 crore from SBI Mutual Fund during the quarter, along with treasury gains of approximately Rs 3,280 crore.
Tata Steel added 2.56% after the steelmaker reported a sharp 723.14% jump in consolidated net profit to Rs 2688.70 crore on 6.4% increase in revenue from operations to Rs 56,646.05 crore in Q3 FY26 over Q3 FY25.
Sky Gold and Diamonds surged 9.39% after the company reported a strong set of numbers for the quarter ended 31 December 2025. On a consolidated basis, profit after tax stood at Rs 80.54 crore in Q3 FY26, up 120.42% YoY from Rs 36.54 crore in Q3 FY25. On a sequential basis, PAT rose 20.23% from Rs 66.99 crore in Q2 FY26. Net sales jumped 77.13% YoY to Rs 1,767.68 crore in Q3 FY26, compared with Rs 997.97 crore in the year-ago quarter. Sequentially, revenue increased 19.08% from Rs 1,484.46 crore.
Sterlite Technologies rose 7.85% after the company said its board approved the issuance of up to 45.3 crore convertible warrants to promoter Twin Star Overseas on a preferential basis at Rs 110 per warrant, aggregating Rs 498.3 crore. Each warrant is convertible into one equity share within 18 months from the date of allotment. On a fully diluted basis, Twin Star Overseas' shareholding is expected to increase to 47.75% from 42.9%, subject to full conversion of the warrants and shareholder approval. As on December 2025, total promoter shareholding in the company stood at 44.44%.
Hi-Tech Pipes added 5.68% after the company announced the commencement of commercial production at its Sikandrabad, Unit-III (Uttar Pradesh) greenfield manufacturing facility. The Sikandrabad facility hosts a production capacity of 0.12 million tons. It would specialise in the production on ERW pipes and hollow sections. The company has reported 14.2% fall in consolidated net profit to Rs 17.38 crore despite a 24.6% increase in net revenue from operations to Rs 1,069.58 crore in Q3 FY26 as compared with Q3 FY25.
Ganesha Ecosphere hit an upper circuit of 20% after the company delivered a decisive sequential recovery in Q3 FY26. On a sequential basis, Ganesha Ecosphere returned to profitability in Q3 FY26, with consolidated net profit at Rs 4.75 crore compared with a loss of Rs 0.50 crore in Q2 FY26. Revenue from operations eased 1.7% QoQ to Rs 357.22 crore. On a year-on-year basis, consolidated net profit declined 84% YoY from Rs 29.71 crore in Q3 FY25, while revenue from operations fell 10.2% YoY from Rs 397.80 crore.
Shipping Corporation of India surged 19.62% after the company reported a 436.24% surge in consolidated net profit to Rs 404.97 crore in Q3 FY26, compared with Rs 75.52 crore in Q3 FY25. Revenue from operations increased 22.5% year-on-year to Rs 1,611.67 crore for the quarter ended 31 December 2025.
Kalyan Jewellers India zoomed 15.26% after its consolidated net profit surged 90.24% to Rs 416.29 crore in Q3 FY26, supported by a 42.17% increase in revenue from operations to Rs 10,343.4 crore compared to the same period last year.
JK Tyre & Industries gained 2.42% after the company's consolidated net profit surged 294.96% to Rs 207.75 crore on a 14.95% increase in revenue from operations to Rs 4,222.96 crore in Q3 FY26 over Q3 FY25.
Ram Ratna Wires soared 10.06% after the company reported a 73.1% jump in consolidated net profit to Rs 31.28 crore on 43.8% rise in revenue from operations to Rs 1,277.93 crore in Q3 FY26 over Q3 FY25.
Atul Auto surged 8.64% after the company's consolidated net profit zoomed 98.06% to Rs 15.35 crore in Q3 FY26 as against Rs 7.75 crore posted in Q3 FY25. Total revenue from operations grew by 18.39% year-on-year (YoY) to Rs 230.86 crore in the quarter ended 31 December 2025.
IPO Update:
Fractal Analytics received bids for 15,67,584 shares as against 1,85,79,360 shares on offer, according to stock exchange data at 16:48 IST on Monday (9 February 2026). The issue was subscribed 0.08 times.
The issue opened for bidding on 9 February 2026 and it closed on 11 February 2026. The price band of the IPO is fixed between Rs 857 and 900 per share.
Aye Finance received bids for 54,37,036 shares as against 4,55,32,785 shares on offer, according to stock exchange data at 16:48 IST on Monday (9 February 2026). The issue was subscribed 0.12 times.
The issue opened for bidding on 9 February 2026 and it closed on 11 February 2026. The price band of the IPO is fixed between Rs 122 and 129 per share.
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