Indices trade firm in early trade; breadth strong

The key equity indices traded with modest gains in early trade as investors sentiment remained optimistic following the recently signed India- US trade deal agreement and positive global cues. Investors will track earnings reports, global cues, gold and crude oil prices. The Nifty traded above the 25,800 level.

Barring FMCG index the lone laggard, all the sectoral indices on the NSE were traded in green.

At 09:25 IST, the barometer index, the S&P BSE Sensex advanced 404.88 points or 0.48% to 83,965.73. The Nifty 50 index added 117.55 points or 0.45% to 25,808.60.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index rose 0.82% and the BSE 250 SmallCap Index jumped 1.09%.

 

The market breadth was strong. On the BSE, 2,390 shares rose and 833 shares fell. A total of 174 shares were unchanged.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,950.77 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 1,265.06 crore in the Indian equity market on 06 February 2026, provisional data showed.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 1.23% to 6.733 compared with previous session close of 6.651.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 90.5200 compared with its close of 90.6500 during the previous trading session.

MCX Gold futures for 2 April 2026 settlement advanced 1.29% to Rs 157,454.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.03% to 97.60.

The United States 10-year bond yield rose 0.43% to 4.221.

In the commodities market, Brent crude for April 2026 settlement declined 68 cents or 1.80% to $67.37 a barrel.

Stocks in Spotlight:

KRN Heat Exchanger and Refrigeration rallied 3% after the company reported 65.09% jump in consolidated net profit to Rs 22.66 crore on a 33.29% increase in total income to Rs 155.09 crore in Q3 FY26 as compared with Q3 FY25.

State Bank of India jumped 6.39% after the bank reported 24.49% jump in net profit to Rs 21,028 crore on a 9.69% increase in total income to Rs 1,40,915 crore in Q3 FY26 as compared with Q3 FY25.

Sula Vineyards declined 3.61% after the company reported a sharp 67.6% decline in consolidated net profit to Rs 9.1 crore on a 9.9% fall in revenue to Rs 180 crore in Q3 FY26 as compared with Q3 FY25.

Global Markets:

Asian markets advanced on Monday, led by a surge in Japanese stocks following Prime Minister Sanae Takaichis historic landslide election victory.

The ruling Liberal Democratic Party captured a two-thirds supermajority in the 465-seat lower house, public broadcaster NHK reported.

A decisive win for Takaichi could be the best outcome for markets over the medium term, as strategic investments and tax reform bolster equities, said Sree Kochugovindan, media report said.

Japanese stocks have hit several highs over the past few months, driven by the so-called 'Takaichi trade' as markets expect the prime ministers economic policies seen as growth-focused continuation of Abenomics to boost equities, while weakening the yen as she pushes for a looser monetary policy and higher government spending.

U.S. President Donald Trump congratulated Takaichi on her victory in a TruthSocial post.

Last Friday in the U.S., stocks surged as tech names recovered following several days of heavy selling in the sector and bitcoin rebounded following a rout that took the popular cryptocurrency down more than 50% from its high in October last year.

The Dow Jones Industrial Average advanced 1,206.95 points, or 2.47%, closing at 50,115.67. Friday marked the first time the Dow exceeded the 50,000 level. The S&P 500 jumped 1.97% and ended at 6,932.30, while the Nasdaq Composite advanced 2.18% to 23,031.21. With those moves, the S&P 500 climbed back into the green for 2026.

Even with Fridays rise, the S&P 500 posted a 0.1% decline for the week, while the Nasdaq fell 1.8% on the week. The 30-stock Dow rose 2.5% week to date, benefiting from some rotation into some economically cyclical stocks even as the overall market was weighed down by tech selling.

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