Meanwhile, the volatility gauge India VIX ended at 12.19, up 2.09% from the last close.
Here’s how analysts read the market pulse:
Commenting on the day’s action, Rupak De, Senior Technical Analyst at LKP Securities said that Nifty has broken above the resistance at 25,700, paving the way for further upside. “The sentiment looks positive, with the index reclaiming its 50-DMA. The RSI is in a bullish crossover and continues to trend higher. In the short term, the index may move towards higher levels, with initial resistance placed at 26,000–26,200. On the lower end, support is placed at 25,650,” De said.
US markets
Wall Street indexes were mixed in choppy trading on Monday, following a rough week marked by AI-sparked tech rout, while investors zeroed in on crucial economic data that could shed light on the Federal Reserve’s interest-rate path.
Consumer discretionary led the declines, down 1.3%. Tech was up 0.7%.
The S&P 500 and the Nasdaq rebounded on Friday after three consecutive sessions of losses driven by a selloff in technology shares, while the Dow closed above 50,000 points for the first time.
The next big test for AI shares will be chip giant Nvidia’s earnings later this month, with investors increasingly demanding measurable gains from capital expenditures. Nvidia was up 3%.Focus will also be on the January nonfarm payrolls report due on Wednesday, which was delayed by a partial government shutdown, and the closely watched January Consumer Price Index on Friday.
Markets are currently pricing in the year’s first rate cut in June, according to CME Group’s FedWatch tool, which could be when Kevin Warsh, U.S. President Donald Trump’s nominee for Fed chair, takes over.
European Markets
Most major European indices were trading positive around 2:11 p.m. GMT (7:56 pm India) time with Stoxx 600, French CAC 40, Germany’s DAX and Spain’s IBEX down up to 0.50%.
The UK’s FTSE 100 dipped on Monday, as investors focussed on the brewing political crisis in Britain, while bank stocks came under pressure with NatWest leading declines after it agreed to buy wealth manager Evelyn Partners.
The blue-chip FTSE 100 fell 0.13%, easing from record highs touched last week. The FTSE 250 midcap index was little changed.
British Prime Minister Keir Starmer’s chief of staff, Morgan McSweeney, quit on Sunday, saying he took responsibility for advising Starmer to name Peter Mandelson as ambassador to the U.S. despite his known links to sex offender Jeffrey Epstein.
Tech View
Commenting on the current trends, Nilesh Jain, Head – Technical and Derivatives Equity Research Analyst at Centrum Broking said despite Nifty opening with a gap-up and closing above 25,800 mark, the Doji candle formation indicates indecision among market participants. The index also reclaimed its 50-DMA placed around 25,795, which is likely to act as immediate support, Jain said.
“Momentum indicators remain supportive, with the MACD already signaling a buy crossover and the RSI sustaining above the 50 level. The overall structure appears positive, with an upside potential towards 26,000, a decisive break above this level could trigger short covering and lead the index towards 26,200,” he added.
Most active stocks in terms of turnover
Lloyds Engineering (Rs 529 crore), State Bank of India (SBI, Rs 277 crore), Kalyan Jewellers (Rs 240 crore), Hindustan Copper (Rs 229 crore), IFCI (Rs 172 crore), Shriram Finance (Rs 137 crore) and Shipping Corporation of India (Rs 108 crore), were among the most active stocks on BSE in value terms. Higher activity in a counter in value terms can help identify the counters with highest trading turnovers in the day.
Most active stocks in volume terms
Lloyds Engineering (Traded shares: 10.65 crore) Vodafone Idea (Traded shares: 6.80 crore), IFCI (Traded shares: 2.63 lakh), SpiceJet (Traded shares: 1.16 crore), Suzlon Energy (Traded shares: 84.99 lakh), YES Bank (Traded shares: 72.12 lakh), and RPower (Traded shares: 60.33 lakh) were among the most actively traded stocks in volume terms on BSE.
Stocks showing buying interest
Shipping Corporation, SBI, Kalyan Jewellers, PCBL, BEML, Transformers & Rectifiers (TARIL) and BEML were among the stocks that witnessed strong buying interest from market participants.
52 Week high
Today, 148 stocks hit their 52 week highs while 100 stocks slipped to their 52-week lows. Among the ones which hit their 52 week highs included 3M India, Adani Ports and Special Economic Zone (APSEZ), APL Apollo, Ashok Leyland, Force Motors, JSW Steel and MRPL.
Stocks seeing selling pressure
Among the large cap names were Max Healthcare Institute, NTPC and ITC. Other stocks which witnessed significant selling pressure were IDBI Bank, REC, PFC, Concord Biotech, Caplin Point and Sarda Energy.
Sentiment meter favours bulls
Though action in heavyweights like Trent, Max Healthcare Institute and Tata Steel pulled the markets the most. The breadth stayed positive in broader markets. Out of the 4,527 stocks that traded on the BSE on February 9, Monday, 3,062 stocks witnessed advances, 1,308 saw declines while 157 stocks remained unchanged.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)