The BSE Sensex opened 600 points higher or 0.7% at 84,177, while the Nifty 50 rallied 200 points to start the day at 25,888 or 0.75% higher.
On the 30-stock Sensex, SBI stole the show, surging as much as 6%, while Titan Company, Tata Steel, Eternal, Kotak Mahindra Bank rose over 1% each. On the laggards’ side, Power Grid Corp, Bajaj Finance, ITC, ICICI Bank, and Trent slipped in the range 0.5%-1%.
The Nifty Smallcap 100 index rose 1.2%, while the Midcap 100 gained 0.81% to mirror the robust trends.
Expert Views
VK Vijayakumar, Chief Investment Strategist at Geojit, said near-term market momentum remains supported by multiple tailwinds. He noted that growing clarity around the US–India trade deal has removed a key overhang for investors and is expected to benefit Indian exporters, while the rebound in US equities and positive global cues point to a renewed risk-on phase.
He added that a notable positive has been the return of foreign institutional investors as buyers in the cash market in three of the last four sessions. With the derivatives segment still heavily net short, expectations of short covering could lend further resilience to markets. On sectors, Vijayakumar said the “Anthropic shock” is likely to keep sentiment weak in IT stocks, whereas banking names may strengthen on signs of improving credit growth, which could support GDP expansion and corporate earnings in FY27.
FII/DII Tracker
Foreign portfolio investors or FPIs net bought shares worth Rs 1,951 crore on Friday. February 6. DIIs, meanwhile, were net buyers at Rs 1,265 crore, provisional data from the National Stock Exchange showed.
Global Markets
US markets ended sharply higher on Friday, with the Dow Jones Industrial Average rising 1,206.95 points, or 2.47%, to close at 50,115.67 — its first-ever finish above the 50,000 mark. The S&P 500 gained 1.97% to 6,932.30, while the Nasdaq Composite advanced 2.18% to 23,031.21. With the rally, the S&P 500 moved back into positive territory for 2026.
Asian markets extended the global risk-on mood on Monday, supported by a strong rebound in US chip stocks and expectations of more reflationary policies in Japan following Prime Minister Sanae Takaichi’s decisive election win. Investor sentiment was also buoyed by bargain hunting in beaten-down momentum trades, including silver, alongside growing bets on further US Federal Reserve rate cuts.
Japan’s Nikkei 225 surged 4.4% to fresh record highs, as the government’s strong majority fuelled expectations of increased fiscal spending and tax reductions. Elsewhere, MSCI’s broad Asia-Pacific index outside Japan rose 2.2%, while South Korea’s tech-heavy Kospi climbed 4.3%. Chinese blue-chip stocks advanced 1.3% ahead of inflation data due later this week, which is expected to reflect easing food prices and continued deflationary pressure in producer prices.
Crude Impact
Oil prices edged lower on Monday after the US and Iran agreed to continue negotiations over Tehran’s nuclear programme, easing fears of an escalation that could disrupt crude supplies from the Middle East.
Brent crude futures slipped 49 cents, or 0.72%, to $67.56 a barrel as of 0134 GMT, after settling 50 cents higher in the previous session.
US West Texas Intermediate (WTI) crude was trading at $63.13 a barrel, down 42 cents, or 0.66%, following a 26-cent gain at Friday’s close.
Rupee vs Dollar
The Indian rupee rose 0.1% to 90.58 against the US dollar on Monday, compared with its previous close of 90.6550.
(With inputs from agencies)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)