Mumbai, Feb 10, 2026, 16:09 IST — After-hours.
- Benchmarks closed higher for a third straight session, with gains led by autos and metals.
- Traders kept an eye on foreign buying signals and the interim India–U.S. trade framework.
- Inflation data later this week is the next near-term test for rates and risk appetite.
Indian equity benchmarks inched up for a third straight session on Tuesday, with the Nifty 50 closing 0.26% higher at 25,935.15 and the Sensex gaining 0.25% to 84,273.92. Auto stocks rose 1.4% and metals added 0.8%, while exchange operator BSE jumped 6.3% on quarterly results and Ramco Cements slid 3% after its numbers failed to impress. “Improving sentiment around renewed foreign inflows, strength in U.S. markets, and optimism surrounding the interim India–U.S. trade framework are providing near-term support,” said Aakash Shah, technical research analyst at Choice Equity Broking. Foreign portfolio investors, overseas funds that trade Indian stocks, bought 22.55 billion rupees’ worth of shares on Monday, provisional data showed. 1
The grind higher matters because the last few months have trained traders to treat foreign money as the swing vote. This week, the market is trying to decide if the bounce is just positioning after a drawdown, or the start of something stickier.
Broader shares again did a bit more work than the benchmarks, with midcap and smallcap indices rising 0.5% and 0.35%, respectively. Eternal rose more than 5% and Tata Steel gained 2.82% on the Sensex, while HCL Tech, Bajaj Finance and Bharti Airtel fell up to 2%. Vinod Nair, head of research at Geojit Investments, said the rise was helped by the U.S. trade agreement and firmer Asian cues, though he flagged intermittent profit-booking and said the near-term trajectory will hinge on mixed third-quarter earnings. 2
Monday’s session set the tone. The Nifty rose 0.68% and the Sensex added 0.58%, with State Bank of India jumping 7.5% to a record high after it beat quarterly profit estimates and raised its full-year loan growth outlook. Export-linked pockets such as textiles, seafood, jewellery and aerospace suppliers also climbed after India and the United States released an interim trade framework that would lower tariffs, reshape energy ties and deepen economic cooperation. “The interim trade framework is a sentimental positive for markets,” said Dharmesh Kant, head of equity research at Cholamandalam Securities. 3
The rupee closed 18 paise stronger at 90.58 per dollar, adding another tailwind for sentiment in late trade. Dilip Parmar, a research analyst at HDFC Securities, said the currency’s rise tracked a softer U.S. dollar and was reinforced by overseas funds turning net buyers; he expects USD/INR, the dollar/rupee pair, to consolidate between 90.05 and 91.10. 4
Technicals are starting to creep back into the conversation after the quick three-day climb. Shrikant Chouhan, head of equity research at Kotak Securities, said a slip below 25,900 on the Nifty (84,100 on the Sensex) could trigger a quick intraday dip toward 25,800–25,750, while 26,000 on the Nifty (84,500 on the Sensex) sits as immediate resistance. 5
But there is an obvious risk: the rally is leaning on foreign inflows and a trade narrative that still needs hard details. If earnings keep missing expectations or global rates reprice on inflation surprises, the market could struggle to hold the recent breakout levels.
Next up is inflation. India is due to publish a revised CPI series (base 2024=100) on Thursday, and the United States is scheduled to release January CPI on Friday — prints that could reset rate bets and spill straight into equities.
