Mumbai, Feb 9, 2026, 16:16 IST — The market has shut its doors for the day.
- Nifty 50 closed at 25,867.30, gaining 173.60 points, while the Sensex advanced by 485.35 points.
- Shares of State Bank of India surged 7.57%, leading benchmark gains after the lender’s December-quarter results came in ahead of forecasts.
- Mid- and small-cap stocks jumped, outperforming, as investors welcomed the interim India-U.S. trade deal
Indian equities pushed higher Monday, with gains in public-sector banks and metals driving the move. State Bank of India popped after posting quarterly numbers. Nifty 50 closed up 0.7% at 25,867. Sensex added 0.6% to settle at 84,065.
The bid’s significance isn’t limited to the big players. When smaller firms outperform the leading indexes, traders tend to read it as a signal: the market’s appetite for risk is broadening, not simply clustering around a select group of giants.
Optimism over a temporary trade deal framework with the United States lifted sentiment, showing up particularly in sectors tied to exports like textiles and seafood. “The interim trade framework is a sentimental positive for markets,” said Dharmesh Kant, head of equity research at Cholamandalam Securities. Small caps stood out again, IIFL Capital said, as the pressure from earnings downgrades began to ease. Reuters
Shares of State Bank of India (SBI) shot up 7.5%, settling at a fresh high of 1,146 rupees. The rally came after the bank posted better-than-expected profits and boosted its outlook for full-year loan growth—a move that sparked multiple target upgrades. SBI now forecasts credit growth of 13%-15% this fiscal, following a 15.4% jump in loans for the December quarter. “SBI delivered yet another strong print, demonstrating strong earnings resilience,” Elara Securities, based in Mumbai, wrote. Reuters
Metals and realty shares held their ground, with the Nifty Metal index advancing almost 2%. Hindustan Copper turned in a strong performance. Force Motors surged to a fresh 52-week high after revealing plans to buy out the rest of Veera Tanneries for 175 crore rupees.
The rupee slipped to 90.7575 per dollar, with corporate demand for the greenback overshadowing any relief from its weaker tone. Early on, trading ran into some order-matching system issues on the interbank side. India’s benchmark 10-year yield climbed past 6.75% as worries about heavy state borrowing lingered. “We could see a down week for the dollar,” analysts at ING noted. Reuters
Advancers easily outpaced decliners on the BSE, with 3,105 stocks climbing versus 1,257 falling.
Still missing are specifics on tariff reductions and when they’d take effect, so a stall here could sap momentum from the export-driven rally. The usual wildcard: another surge in global yields often hits small-caps hardest, with unwinds quick to follow.
Eyes shift to India’s January inflation print, set for release Feb. 12 and marking the debut of a revamped consumer price index basket. The Reuters poll points to headline inflation at 2.4%. “Both food as well as core inflation are likely to edge up higher,” Standard Chartered’s Anubhuti Sahay said. Reuters
The U.S. January CPI lands Feb. 13, a data release with the potential to jolt rate outlooks and ripple through emerging-market flows.
NSE’s cash market kicks off again at 9:15 a.m. IST Tuesday, trading through to 4:00 p.m. Closing session. Focus is on banks—will they hold their bids ahead of Thursday’s inflation print? Traders are also eyeing trade-related headlines for either real substance or just more noise.
