The Indian stock market benchmarks, the Sensex and the Nifty 50, extended gains for the third consecutive session on Tuesday, February 10, amid positive global cues.
The Sensex closed at 84,273.92, rising 208 points, or 0.25%, while the Nifty 50 settled with a gain of 68 points, or 0.26%, at 25,935.15.
The mid and small-cap segments also clocked healthy gains. The BSE 150 MidCap Index climbed 0.21%, while the BSE 250 SmallCap Index rose by 0.46%.
The overall market capitalisation of BSE-listed firms rose to over ₹474 lakh crore from ₹473 lakh crore in the previous session, making investors richer by about ₹1 lakh crore in a single session.
10 key highlights from the Indian stock market today
1. Why did the Indian stock market rise today?
Market sentiment remained upbeat in the wake of the India-US trade deal. Positive global cues, the return of FIIs, and a stable rupee further boosted market sentiment.
“Domestic equities continued their upward momentum, supported by the US trade agreement and positive cues from key Asian markets. A strong resurgence in FII inflows, coupled with rupee appreciation, is further bolstering the investor sentiment, although intermittent profit-booking was visible across sectors,” Vinod Nair, Head of Research, Geojit Investments Limited, noted.
“With tariff-related concerns largely easing, the near-term market trajectory will hinge on Q3 earnings, which have been mixed and below expectations so far. Investors are now focused on the combined impact of recent fiscal and monetary measures to revive earnings momentum in the coming quarters,” Nair said.
2. Top Nifty 50 gainers
Eternal (up 5.19%), Tata Steel (up 2.90%), and ONGC (up 1.88%) ended as the top gainers in the Nifty 50 index. As many as 27 stocks ended higher in the Nifty kitty of stocks.
3. Top losers in the Nifty 50 index
HCL Technologies (down 2.03%), Bajaj Finance (down 1.82%), and Dr. Reddy’s Laboratories (down 1.55%) ended as the top losers in the index.
4. Sectoral indices today
Except for Nifty Pharma (down 0.36%), Healthcare (down 0.27%), PSU Bank (down 0.19%), and Nifty Bank (down 0.07%), all sectoral indices ended higher.
Nifty Media (up 2.40%) and Auto (up 1.37%) indices ended with strong gains.
5. Most active counters in terms of volume
Vodafone Idea (39.2 crore shares), Tata Silver Exchange Traded Fund (15.5 crore shares), and Filatex Fashions (13 crore shares) were the most active counters in terms of volume on the NSE.
6. Advance-decline ratio
The advance-decline ratio remained in favour of advancers as over 2,600 stocks advanced while over 1,600 declined on the BSE.
7. 15 stocks jump over 15% on BSE
Praj Industries, ISGEC Heavy Engineering, Signpost India, Race Eco Chain, Tokyo Plast International, Dynemic Products, Lumax Industries, and Pavna Industries were among the 15 stocks that jumped over 15% on the BSE.
8. Nearly 130 stocks hit 52-week highs
As many as 127 stocks, including SBI, Titan, Tata Steel, UltraTech Cement, Shriram Finance, Samvardhana Motherson International, JSW Steel, and Indus Towers, hit their 52-week highs in intraday trade on the BSE.
9. 56 stocks hit 52-week lows
Kansai Nerolac Paints, Dreamfolks Services, and Pine Labs were among the 56 stocks that hit their 52-week lows in intraday trade on the BSE.
10. Nifty’s technical outlook
According to Shrikant Chouhan, the head of equity research at Kotak Securities, the short-term market outlook remains positive, but there could be a quick intraday dip if the Nifty 50 slips below 25,900. Below this level, the index could retest the levels of 50-day SMA (simple moving average), or 25,800-25,750.
On the higher side, 26,000 would be the immediate resistance zone for the bulls. A successful breakout above 26,000 could push the market up to 26,100-26,150, said Chouhan.
According to Sudeep Shah, Head – Technical and Derivatives Research at SBI Securities, the zone of 26,050-26,100 will act as an immediate hurdle for Nifty.
Any sustainable move above 26,100 will lead to a further upside rally to the 26,250 level. On the other hand, the zone of 25,800-25,770 will act as crucial support for the index, said Shah.
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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
