Sensex Jumps 485 Points to 84,066; Nifty Rallies 174 Points as PSU Banks, Metals Lead

Sensex Jumps 485 Points to 84,066; Nifty Rallies 174 Points as PSU Banks, Metals Lead

1. MARKET OVERVIEW TABLE

Vibe: Benchmark indices extended gains for a second straight session, led by PSU banks, metals and pharma stocks, with broader markets outperforming frontline indices.

2. SECTOR PERFORMANCE

🟢 Best Sectors

🔴 Worst Sectors

3. TOP GAINERS (Nifty 50 & Broader Market)

4. TOP LOSERS (Nifty 50 & Broader Market)

5. 52-WEEK LEVELS

New Highs Today

• State Bank of India (SBI): Hit 52-week high of Rs 1,150 during the session, closed at Rs 1,147.80

Near Highs

New Lows Today

• Poly Medicure: Hit 52-week low of Rs 1,462.57

6. WHAT DROVE THE MARKET - DETAILED BREAKDOWN

RBI Monetary Policy

• Status: RBI maintained status quo stance with no change in policy rates
• Impact: Neutral stance continued to support market stability

US-India Trade Agreement

• Status: Positive signals from trade deal fueled risk-on sentiment
• Sector Impact: Cement, capital goods, textiles, and consumer discretionary sectors attracted investor interest

Earnings Season

• Trend: Strong Q3 results from major companies
• Winners:
  • SBI: Reported 24% YoY growth in standalone net profit at Rs 21,028 crore; net interest income increased 9% YoY to Rs 45,190 crore
  • Shipping Corporation: Net profit surged 440% in Q3 to Rs 405 crore; revenue up 23% YoY to Rs 1,612 crore
  • Kalyan Jewellers: Profits surged 90% to Rs 416.29 crore; revenue from operations jumped 42% to Rs 10,343.41 crore
• Losers: Concord Biotech declined 4.5% despite strong pharma sector trend

FII/DII Flows

• Trends: FIIs returned with bullish positioning; DII holding in Nifty50 touched all-time high of 24.8%
• Net Flows: Domestic institutional investors maintained steady buying, supporting market at higher levels

Global Cues

• US Markets: Dow Jones Industrial Average jumped 1,206.95 points (+2.47%) to close at 50,115.67; S&P 500 rose 1.97% to 6,932.30; Nasdaq Composite advanced 2.18% to 23,031.21
• Asian Markets: Japan’s Nikkei 225 led gains, jumping 3.9% to fresh all-time highs following Sanae Takaichi’s election victory, raising expectations for increased fiscal spending and potential tax cuts
• European Markets: STOXX 600 up 0.5%, extending global risk-on mood

Sector-Specific News

• PSU Banks: SBI’s stellar Q3 earnings and favorable brokerage reviews drove the PSU Bank index to emerge as top gainer, surging 3.34%
• Power Finance: PFC’s board approved in-principle merger with REC, advancing Union Budget proposal for restructuring two largest public sector NBFCs; REC fell 3.6%, PFC declined 1% on the development
• Disinvestment: IDBI Bank slipped up to 4% on developments around strategic sale, with Fairfax Financial and Emirates NBD emerging as bidders

Budget Impact

• Allocations: Union Budget proposals supported sectors like cement, capital goods, textiles
• Sector Focus: Consumer durables and real estate stocks saw accumulation following budget proposals and expectations of demand revival

Geopolitical/Macro

• Oil Prices: Brent crude fell 84 cents (-1.2%) to $67.21/barrel; US WTI declined 82 cents (-1.3%) to $62.73 as US and Iran agreed to continue indirect talks over Tehran’s nuclear programme, easing fears of Middle East conflict
• Rupee: Indian rupee ended 0.1% lower at 90.7625 per US dollar

7. SPECIAL MENTIONS

• Smallcap Index: Rocketed 2.65%, significantly outperforming frontline indices
• Midcap Index: Rose 1.6%
• Market Wealth Creation: Investors earned approximately Rs 6 lakh crore in a single day
• IPO Activity: Aye Finance IPO opened with weak investor interest, achieving only 13% subscription on Day 1

8. TECHNICAL LEVELS

Nifty

• Support: 25,700
• Resistance: 25,950

Sensex

• Support: 83,800
• Resistance: 84,500

9. SUMMARY

Indian equity markets kicked off the week on a strong footing, with benchmark indices Sensex and Nifty 50 extending gains for a second straight session. The Sensex rose 485 points to close at 84,065.75 (+0.60%), while the Nifty 50 gained 174 points to end the day at 25,867.30 (+0.68%). The rally was broad-based, with PSU banks emerging as the top-performing sector, surging 3.34% during the session. SBI led the banking pack, rallying nearly 8% after reporting strong Q3 earnings with 24% YoY growth in standalone net profit to Rs 21,028 crore and hitting a fresh 52-week high during trade.

Beyond PSU banks, metals and pharma stocks also contributed to the positive market sentiment. The broader market outperformed frontline indices, with the Nifty Smallcap 100 index rocketing 2.65% and the Midcap 100 index rising 1.6%. Notable gainers included Shipping Corporation of India, which hit a 20% upper circuit after reporting a staggering 440% surge in Q3 net profit to Rs 405 crore, and Kalyan Jewellers, which jumped up to 16% following blockbuster Q3 results with profits surging 90%.

Global markets provided supportive cues, with US indices closing sharply higher on Friday led by tech stocks, pushing the Dow Jones above the 50,000 mark for the first time. Asian markets, particularly Japan’s Nikkei 225, rallied strongly following the decisive election victory of Sanae Takaichi, which raised expectations for fiscal stimulus and potential tax cuts. European markets also traded in the green, with the STOXX 600 gaining 0.5%.

On the sector front, power finance stocks REC and PFC declined after PFC’s board approved an in-principle merger with REC, advancing the Union Budget proposal aimed at restructuring two of the country’s largest public sector NBFCs. REC fell 3.6% to Rs 359.20 while PFC declined 1% to Rs 414.55. IDBI Bank slipped up to 4% on developments around its strategic disinvestment, with Fairfax Financial and Emirates NBD emerging as potential bidders for the government and LIC’s combined 60.7% stake sale.

Commodities saw crude oil prices decline by over 1% as the US and Iran agreed to continue indirect talks over Tehran’s nuclear programme, easing geopolitical tensions and supply disruption concerns. Brent crude fell to $67.21 per barrel while US WTI declined to $62.73. The Indian rupee ended 0.1% lower at 90.7625 per US dollar compared to the previous close of 90.6550.

The positive market sentiment was also reflected in strong market breadth, with advances significantly outnumbering declines across the board. Investors added approximately Rs 6 lakh crore in market wealth during the session, driven by strong participation across PSU banks, metals, and select consumer stocks. The Nifty IT index was an outlier, declining in February, while the broader market remained resilient and focused on value opportunities across multiple sectors.

Details for information purposes only. Don’t treat this as financial advice.