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Indian equity benchmarks took a breather on Wednesday, halting their three-session winning streak. The Sensex slipped marginally by 40 points to close at 84,233.64, while the Nifty50 managed a modest gain of 18.7 points, settling at 25,953.85. The pause in momentum was largely attributed to profit-booking in IT stocks, which offset strength in banking and auto counters.

Sectoral Performance

• IT Stocks Drag: Heavyweights such as TCS and HCL Technologies declined over 2%, pulling down the Nifty IT index. Investors booked profits after recent gains, reflecting caution ahead of global tech earnings.
• Banking Resilience: State Bank of India surged more than 3%, overtaking TCS in market capitalization to become the fourth-largest listed company. Private banks also showed resilience, supporting the broader indices.
• Auto & Retail Strength: Maruti Suzuki and Trent posted notable gains, reflecting strong demand trends and positive outlook in consumer spending.
• Healthcare Upside: The Nifty Healthcare index advanced 1.62%, driven by buying interest in select pharma and hospital stocks.

Market Sentiment

The rally earlier this week was fueled by optimism around easing global trade tensions and expectations of steady domestic growth. However, with mixed Q3 earnings and global uncertainties, investors preferred to remain selective. Midcap and smallcap indices ended flat, highlighting cautious sentiment in broader markets.

Technical Outlook

Analysts believe that Nifty crossing the 26,000 mark could act as a key trigger for fresh upside momentum. Until then, consolidation is likely, with sector rotation playing a critical role in sustaining market strength. Support levels are seen near 25,800, while resistance remains at 26,100.

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Indian equity markets have witnessed a remarkable surge in foreign institutional investor (FII) activity, with inflows exceeding $2 billion over the past nine trading sessions. This strong wave of foreign participation underscores renewed confidence in India’s economic resilience and growth prospects, supported by favorable global cues and optimism around trade negotiations.

Market Impact

• Benchmark Indices: The consistent inflows have helped the Sensex and Nifty extend their winning streak, with both indices posting steady gains over the past week.
• Sectoral Strength: Banking, infrastructure, and consumer-focused stocks have been the primary beneficiaries, reflecting investor preference for sectors tied to domestic demand and long-term growth.
• Liquidity Boost: Analysts highlight that the inflows have improved market liquidity, reduced volatility, and strengthened overall sentiment.

Drivers of Foreign Interest

• Trade Deal Optimism: Progress in India–US trade discussions has reassured global investors about export opportunities and economic stability.
• Global Market Trends: Easing inflationary pressures and dovish signals from major central banks have encouraged risk-on sentiment worldwide.
• India’s Growth Outlook: Strong corporate earnings, resilient GDP growth, and government-led infrastructure spending continue to attract long-term foreign capital.
• Currency Stability: The rupee’s relative stability against the US dollar has further supported foreign investor confidence.

Expert Outlook

Market experts believe that if foreign inflows sustain, Indian equities could see further upward momentum, particularly in large-cap banking and industrial stocks. However, they caution that global uncertainties, including oil price fluctuations and geopolitical risks, may lead to short-term volatility.

Historical Context

This surge in inflows marks one of the strongest nine-session streaks in recent years. Comparisons with past cycles suggest that sustained FII activity often precedes periods of robust market performance. Analysts note that India’s ability to attract foreign capital consistently, even amid global uncertainties, highlights its position as a preferred investment destination in Asia.

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Indian equity markets continued their upward momentum on February 10, 2026, with both the Sensex and Nifty rising for the third consecutive session. The rally was fueled by optimism surrounding the India–US trade deal and firm global cues, even as selective profit-booking was observed at higher levels.

Market Performance

• The BSE Sensex climbed 208.17 points (0.25%) to close at 84,273.92, after hitting an intraday high of 84,482.95.
• The NSE Nifty advanced 67.85 points (0.26%) to settle at 25,935.15, with an intraday peak of 25,989.45.

This marks the third straight day of gains, underscoring strong investor sentiment driven by global market strength and foreign institutional inflows.

Sectoral Highlights

• Top Gainers: Eternal, Tata Steel, Mahindra & Mahindra, PowerGrid, Tech Mahindra, NTPC, Larsen & Toubro, Tata Consultancy Services, Maruti Suzuki, Axis Bank, Titan, and Hindustan Unilever.
• Laggards: HCL Technologies, Bajaj Finance, Bharti Airtel, Asian Paints, HDFC Bank, UltraTech Cement, Adani Ports, and ITC witnessed declines due to profit-booking.

Drivers of Optimism

• Trade Deal Hopes: Renewed optimism over the India–US trade agreement boosted investor confidence.
• Global Cues: Strength in international markets supported domestic equities.
• FII Buying: Continued foreign institutional investor participation added momentum.
• Corporate Earnings Outlook: Analysts note that upcoming earnings and policy measures will determine the sustainability of the rally.

Market Outlook

Experts believe that the combination of strong global cues, trade deal optimism, and healthy corporate earnings could push markets to new highs. However, they caution that profit-booking at elevated levels may lead to short-term volatility.

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The shares of State Bank of India (SBI) soared nearly 7% on February 9, 2026, hitting a lifetime high of ₹1,141 after the lender reported its highest-ever quarterly profit for the December quarter. This remarkable performance pushed SBI’s market capitalization beyond ₹10 trillion, making it only the sixth Indian company to achieve this milestone.

Record-Breaking Financials

SBI posted a net profit of ₹21,028 crore in Q3 FY26, a 24.5% year-on-year increase compared to ₹16,891 crore in the same quarter last year. This achievement marks the highest quarterly profit in the bank’s history, driven by strong fundamentals across multiple segments:

• Loan Growth: The bank reported a 15% YoY loan expansion, prompting management to raise FY26 loan growth guidance to 13–15%.
• Net Interest Income (NII): Increased 9% YoY to ₹45,190 crore, reflecting robust lending activity.
• Operating Profit: Jumped 40% to ₹32,862 crore, supported by higher fee income and reduced provisioning.
• Asset Quality: Gross NPA ratio improved to 1.57% from 1.73% in the previous quarter, showcasing disciplined credit management.

Market Reaction

Investor enthusiasm was evident as SBI’s stock touched fresh highs across exchanges. Leading brokerages such as Jefferies, Morgan Stanley, and Motilal Oswal upgraded their target prices to ₹1,300, citing strong return on equity, improved asset quality, and value creation from subsidiaries. Analysts believe SBI’s performance cements its position as India’s largest and most resilient lender.

Sectoral Impact

SBI’s strong earnings had a ripple effect across the banking sector. Shares of other public sector banks also witnessed gains, with investors betting on improved credit demand and healthier balance sheets. Private sector peers such as HDFC Bank and ICICI Bank saw moderate traction, though analysts noted that SBI’s scale and diversified portfolio give it a unique edge in capturing growth opportunities.

Strategic Outlook

With consistent profitability, improved asset quality, and strong loan growth, SBI is expected to remain a cornerstone of India’s banking sector. The record earnings highlight the bank’s ability to navigate global uncertainties while capitalizing on domestic demand. Analysts suggest that SBI’s subsidiaries in insurance, asset management, and cards will further enhance shareholder value in the coming quarters.

Global Context

The rally in SBI also coincides with positive global cues. Optimism around trade deals and easing inflationary pressures in major economies have boosted investor sentiment worldwide. For India, SBI’s performance is seen as a reflection of the broader resilience of the financial sector, which continues to attract foreign institutional inflows.

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Indian equity markets ended on a strong note as optimism surrounding the India–US trade deal lifted investor sentiment. The BSE Sensex surged past the 84,000 mark, reclaiming levels last seen during earlier market highs, while the NSE Nifty also posted significant gains.

Market Performance

The Sensex closed at 84,065.75, up 485 points, after touching an intraday high of 84,314.68. The Nifty settled at 25,867.30, gaining 173 points, with an intraday peak of 25,922.25. The rally was broad-based, with several sectors contributing to the upward momentum.

Key Gainers

• Banking & Financials: State Bank of India, Kotak Mahindra Bank, and ICICI Bank saw strong buying interest.
• Consumer Durables & Realty: Titan, Trent, and Mahindra & Mahindra led the charge in consumer and realty segments.
• Infrastructure & Industrials: Larsen & Toubro and UltraTech Cement posted notable gains.
• Pharma & Paints: Sun Pharma and Asian Paints added to the rally.

Laggards

Despite the overall bullish sentiment, a few heavyweights such as PowerGrid, NTPC, ITC, Infosys, and Axis Bank ended lower, reflecting selective profit booking.

Drivers of Optimism

• Trade Deal Hopes: Renewed optimism over the India–US trade agreement boosted investor confidence, with expectations of stronger export opportunities.
• Global Cues: Positive signals from international markets supported domestic equities.
• Foreign Inflows: Continued foreign institutional investor (FII) participation added strength to the rally.

Market Outlook

Analysts suggest that if trade negotiations progress smoothly, Indian markets could see sustained momentum. Banking, infrastructure, and consumer sectors are expected to benefit the most, while global cues will continue to play a critical role in shaping investor sentiment.

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