Nifty trades above 25,700 level; PSU bank shares jump; VIX slumps 5.34%
At 13:30 ST, the barometer index, the S&P BSE Sensex advanced 247.35 points or 0.30% to 83,524.50. The Nifty 50 index added 61.55 points or 0.24% to 25,744.
In the broader market, the BSE 150 MidCap Index added 0.28% and the BSE 250 SmallCap Index rose 0.83%.
The market breadth was strong. On the BSE, 2,494 shares rose and 1,523 shares fell. A total of 198 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 5.34% to 12.62.
Economy:
Indias total exports (merchandise and services combined) for January 2026 are estimated at $80.45 billion, registering a positive growth of 13.17% vis-vis January 2025. Total imports (merchandise and services combined) for January 2026 are estimated at $90.83 billion, registering a positive growth of 18.76% vis-vis January 2025. Indias total exports during April-January 2025-26 are estimated at $720.76 billion registering a positive growth of 6.15%. Total imports during April-January 2025-26 are estimated at $823.41 billion registering a growth of 6.54%.
Merchandise exports during January 2026 were $36.56 billion as compared to $36.34 billion in January 2025. Merchandise imports during January 2026 were $71.24 billion as compared to $59.77 billion in January 2025. The estimated value of services export for January 2026 is $43.90 billion as compared to $34.75 billion in January 2025. The estimated value of services imports for January 2026 is $19.60 billion as compared to $16.71 billion in January 2025.
Major drivers of merchandise exports growth in January 2026 include engineering goods, petroleum products, meat, dairy & poultry products, marine products, and iron ore. Engineering goods exports increased by 10.37% from $9.42 billion in January 2025 to $10.40 billion in January 2026, while petroleum products exports increased by 8.55% from $3.48 billion in January 2025 to $3.77 billion in January 2026.
Gainers & Losers:
Infosys (up 3.77%), HCL Technologies (up 2.52%), Bharat Electronics (up 2.43%), Adani Enterprises (up 2.29%) and Wipro (up 2.25%) were the major Nifty50 gainers.
Kwality Wall's (down 4.79%), Eternal (down 2.58%), Trent (down 1.76%), Hindalco Industries (down 1.70%) and Shriram Finance (down 1.70%) were the major Nifty50 losers.
Stocks in Spotlight:
Highway Infrastructure soared 6.82% after the company said it has secured a contract from the National Highways Authority of India (NHAI) for toll operations on key stretches of the VadodaraMumbai Expressway in Gujarat.
Infosys advanced 2.83% after the company announced a strategic collaboration with Anthropic, an AI safety and research company, to develop and deliver advanced enterprise AI solutions to companies across industries.
Cochin Shipyard advanced 4.27% after the state-run shipbuilder said it was declared the lowest bidder at a meeting held at the Ministry of Defence in New Delhi.
TVS Supply Chain Solutions (TVS SCS) added 2.81% after the firm signed memorandum of understanding (MoU) with ALA Group, to explore opportunities in Indias aerospace and defence supply chain.
Lupin added 1.39% after the company announced that it has signed a licence and supply agreement with Spektus Pharma to commercialize the novel antidepressant DeslaFlex in Canada.
Global Markets:
European equities opened lower on Tuesday as investors keep an eye on earnings.
Asian markets traded cautiously amid holiday-thinned volumes, while oil prices edged higher ahead of U.S.Iran nuclear negotiations set to begin later today in Geneva.
The Mainland Chinese, Hong Kong, Singapore, Taiwan, and South Korean markets were closed on Tuesday for Lunar New Year holidays. U.S. markets were shut on Monday for Presidents Day.
Japans weakening economy remained in focus on Tuesday, one day after much softer than expected GDP numbers.
The country on Monday reported its economy grew an annualized 0.2% in the fourth quarter, far below the widely reported gain forecast of 1.6% as government spending dragged on activity. In today's session, the Japanese yen strengthened 0.15% against the greenback to 153.28 per dollar.
The weak figures highlight the challenges ahead for Prime Minister Sanae Takaichi and should support her push for more aggressive fiscal stimulus, media reports said.
The Bank of Japan next meets on rates in March, with traders forecasting only a slim chance for a hike. Widely reported polls in the media suggest that investors expect the central bank to wait until July before tightening policy again.
Meanwhile, oil saw some price gains as investors looked ahead to the U.S. and Iran nuclear negotiations that are scheduled to begin in Geneva later in the day.
The higher volatility in crude was triggered by the latest drill that was reportedly held by Irans Revolutionary Guards in the Hormuz Strait on Monday. The passage accounts for about 20% of global oil shipments.
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