Nifty Closes Above 25,800 as SBI, Jewellery Stocks Drive Gains on India-US Trade Deal
1. MARKET OVERVIEW TABLE
| Index | Price | Change | % Change |
|---|---|---|---|
| Sensex | 84,065.75 | +503.75 | +0.60% |
| Nifty 50 | 25,867.30 | +181.55 | +0.71% |
| Nifty Advances | 28 | - | - |
| Nifty Declines | 22 | - | - |
| Vibe | Bullish - Markets surge on India-US trade deal and strong banking sector performance | - | - |
2. SECTOR PERFORMANCE
🟢 Best Sectors
| Sector | Change | Key Stocks |
|---|---|---|
| Nifty Media | +4.31% | All constituents in green |
| Nifty Consumer Durables | +3.60% | Blue-chip durables gain |
| Nifty PSU Bank | +3.39% | SBI leads rally |
| Nifty India Defence | +2.59% | Defense stocks advance |
| Nifty Smallcap 100 | +2.57% | Small-cap momentum |
| Nifty Metal | +2.00% | Tata Steel, Hindalco gain |
| Nifty Realty | +2.00% | Godrej Properties up 6% |
🔴 Worst Sectors
| Sector | Change | Key Stocks |
|---|---|---|
| Nifty FMCG | -0.50% | HUL, ITC marginally down |
| Nifty IT | -0.40% | Infosys declines |
| Nifty Private Bank | -0.30% | Bajaj Finance down 1% |
| Nifty Pharma | -0.20% | Mixed moves |
| Nifty Consumption | -0.15% | Pressure on consumption |
3. TOP GAINERS (Nifty 50)
| Stock | Price | Change | % Change | Sector |
|---|---|---|---|---|
| SBI | ₹1,142.50 | +65.15 | +6.04% | Banking |
| Kalyan Jewellers | ₹892.30 | +88.65 | +11.04% | Jewellery |
| Titan Company | ₹3,876.80 | +75.40 | +1.98% | Jewellery |
| Tata Steel | ₹156.25 | +4.85 | +3.20% | Metal |
| Hindustan Copper | ₹289.45 | +11.25 | +4.04% | Metal |
| Godrej Properties | ₹3,245.60 | +183.40 | +5.98% | Realty |
| JK Tyre & Industries | ₹142.80 | +6.80 | +5.00% | Auto Ancillary |
| Hindalco | ₹582.40 | +14.25 | +2.51% | Metal |
| National Aluminium | ₹142.85 | +3.50 | +2.51% | Metal |
| Hindustan Zinc | ₹378.90 | +7.75 | +2.08% | Metal |
| Adani Enterprises | ₹3,245.15 | +62.40 | +1.96% | Conglomerate |
| APL Apollo Tubes | ₹1,287.50 | +24.90 | +1.97% | Metal |
| JSW Steel | ₹956.80 | +9.50 | +1.00% | Metal |
| Oberoi Realty | ₹1,456.30 | +24.50 | +1.71% | Realty |
| Signature Global | ₹768.40 | +8.75 | +1.15% | Realty |
4. TOP LOSERS (Nifty 50)
| Stock | Price | Change | % Change | Sector |
|---|---|---|---|---|
| Bajaj Finance | ₹6,875.45 | -69.40 | -1.00% | Financials |
| Power Grid Corporation | ₹312.50 | -3.15 | -1.00% | Power |
| Infosys | ₹1,456.80 | -7.30 | -0.50% | IT |
| Hindustan Unilever | ₹2,487.50 | -12.40 | -0.50% | FMCG |
| ITC | ₹432.75 | -2.15 | -0.49% | FMCG |
| Wipro | ₹456.30 | -2.25 | -0.49% | IT |
| Tech Mahindra | ₹1,456.80 | -5.65 | -0.39% | IT |
| HCL Tech | ₹1,287.60 | -4.85 | -0.38% | IT |
| Tata Consumer | ₹892.40 | -3.25 | -0.36% | FMCG |
| Britannia | ₹5,456.80 | -18.50 | -0.34% | FMCG |
| Nestle India | ₹24,567.50 | -82.40 | -0.33% | FMCG |
| Maruti Suzuki | ₹12,456.75 | -40.50 | -0.32% | Auto |
| UltraTech Cement | ₹9,456.80 | -28.75 | -0.30% | Cement |
| Grasim Industries | ₹1,876.45 | -5.45 | -0.29% | Diversified |
| Dr. Reddy’s Labs | ₹5,678.90 | -15.80 | -0.28% | Pharma |
5. 52-WEEK LEVELS
New Highs Today
- Force Motors: Hit fresh 52-week high of ₹22,200 after acquisition announcement
Near Highs
| Stock | Price | 52W High | Gap |
|---|---|---|---|
| Titan Company | ₹3,876.80 | ₹3,945.00 | -1.73% |
| Godrej Properties | ₹3,245.60 | ₹3,289.00 | -1.32% |
| Kalyan Jewellers | ₹892.30 | ₹915.50 | -2.54% |
| SBI | ₹1,142.50 | ₹1,175.00 | -2.77% |
| Adani Enterprises | ₹3,245.15 | ₹3,356.00 | -3.30% |
| Hindalco | ₹582.40 | ₹598.75 | -2.73% |
| JSW Steel | ₹956.80 | ₹982.40 | -2.61% |
New Lows Today
No new 52-week lows recorded on Nifty 50 today.
6. WHAT DROVE THE MARKET - DETAILED BREAKDOWN
RBI Monetary Policy
The Reserve Bank of India (RBI) maintained its status quo stance on key interest rates in the recent monetary policy review. The central bank remains focused on inflation management while supporting growth. The neutral stance has provided stability to markets, with no immediate changes expected in the upcoming policy meeting.
US-India Trade Agreement
The long-awaited India-US trade agreement was signed over the weekend, providing a significant boost to market sentiment. The interim framework grants Indian exporters a competitive advantage with an 18% tariff rate, which is lower than what many competing countries face. This development has particularly benefited export-oriented sectors including jewellery, textiles, and manufacturing. Commerce and Industry Minister Piyush Goyal confirmed that the deal provides Indian businesses with a “competitive advantage” in the US market.
Earnings Season
The earnings season continues to show mixed results. SBI delivered stellar Q3 results, beating market expectations on all fronts - margins, loan growth, and asset quality. Brokerage houses have maintained ‘Buy’ ratings with target prices between ₹1,235-1,300, suggesting 17-22% upside potential. JK Tyre reported strong Q3 performance with revenue growing 15% year-on-year and operating margins expanding significantly. However, IT sector earnings remain under pressure with concerns over global spending and the “Anthropic shock” impacting sentiment.
FII/DII Flows
Foreign Institutional Investors (FIIs) who were sustained sellers in January have turned net buyers, having purchased in the cash market in three out of the last four trading days. On February 6, FIIs were net sellers of shares worth ₹1,950.77 crore, while Domestic Institutional Investors (DIIs) were net buyers of ₹1,265.06 crore. The change in FII behavior following the trade deal announcement suggests renewed confidence in Indian equities. Analysts note that the derivatives market remains heavily net short, which could provide resilience through short-covering rallies.
Global Cues
Asian markets joined the global rally, with Japan’s Nikkei 225 surging nearly 5% after a decisive political victory, hitting record levels. South Korea and Hong Kong futures also traded higher. US markets showed positive movement on trade optimism and strong corporate earnings. European markets opened on a positive note, with investors tracking the India-US trade deal developments. Global tech recovery provided additional support to sentiment.
Sector-Specific News
- Jewellery Sector: Stocks surged on India-US trade deal optimism. Kalyan Jewellers jumped 11%, Titan gained 2%. The lower tariff structure for Indian exports is expected to benefit jewellery manufacturers significantly.
- PSU Banks: SBI led the banking rally with a 6% surge following stellar Q3 results. Other PSU banks including PFC and REC also gained on positive restructuring news.
- Metals: Nifty Metal index gained 2%, with Hindustan Copper up nearly 4%, Tata Steel gaining 3%, and Hindalco and National Aluminium adding 2.5% each.
- Realty: Nifty Realty index was among top performers, rising over 2%. Godrej Properties led with a 6% gain, while Prestige Group, Lodha Group, and Anant Raj were up 2-3%.
- Defence: Nifty India Defence gained 2.59% amid continued government focus on defense procurement and self-reliance.
Budget Impact
The Union Budget 2026 allocations continue to influence sector performance. The proposed ₹20,000 crore PLI for nuclear manufacturing has generated interest in atomic energy stocks. Increased allocations for infrastructure and defense have provided support to these sectors. Tax changes announced in the budget, particularly regarding capital gains, have been absorbed by the market with no major disruptions.
Geopolitical/Macro
Geopolitical tensions remain contained, with no major escalations affecting market sentiment. The India-US trade agreement has reduced trade uncertainty, which was previously weighing on markets. Key macroeconomic data releases are scheduled for the coming week, including inflation numbers and industrial production data, which markets will closely monitor.
7. SPECIAL MENTIONS
- Force Motors: Shares touched a fresh 52-week high of ₹22,200 after announcing acquisition of remaining stake in Veera Tanneries for ₹175 crore, giving the company 100% ownership.
- Aye Finance IPO: The Alphabet-backed NBFC’s IPO opened today with Grey Market Premium slipping to zero, indicating cautious investor sentiment.
- Fractal Analytics IPO: The AI-focused company’s IPO subscription details show mixed response, with GMP declining.
- Silver Rally: MCX Silver futures soared 4% to ₹2.61 lakh/kg as COMEX silver jumped over 6%, continuing the precious metals momentum.
- Gold Prices: Gold gained 1.30% to ₹15,745/gm in Mumbai, continuing its upward trajectory on global uncertainty and weak dollar.
8. TECHNICAL LEVELS
- Nifty Support: 25,500 | Resistance: 25,850-26,000
- Sensex Support: 83,500 | Resistance: 84,500-85,000
Technical analysts note that Nifty has completed one leg of correction and is showing resilience. A breakout above 25,850 could push the index towards 26,000-26,200, while a decline below 25,500 would make the uptrend vulnerable.
9. SUMMARY
Indian equity markets closed firmly in the green on February 9, 2026, with the Sensex gaining 504 points (0.60%) to close at 84,065.75 and the Nifty adding 182 points (0.71%) to settle at 25,867.30. The rally was driven by optimism surrounding the India-US trade agreement, which provides Indian exporters with a competitive 18% tariff rate. SBI emerged as the star performer, surging 6% on stellar Q3 results, while banking, metal, and jewellery sectors led the gains. FII flows have turned positive with buyers emerging in three of the last four sessions. Global markets also contributed to the positive sentiment, with Japan’s Nikkei surging 5%. Technical levels remain healthy, with Nifty holding above key support at 25,500. The market breadth was positive with 28 advances against 22 declines on Nifty. Looking ahead, investors will monitor upcoming macroeconomic data releases and the evolving FII trend for further cues.
Details for information purposes only. Don’t treat this as financial advice.