BAROMETERS TRADE WITH SIGNIFICANT GAINS; EUROPEAN MRKT ADVANCE

The domestic equity benchmarks traded with major gains in the afternoon trade buoyed by optimism over the recently concluded India-US trade agreement and positive global cues. Sentiments further lifted by key agreements signed between India-Malaysia. Investors will monitor ongoing Q3 earnings season. The Nifty traded near the 25,850 mark.

All the sectoral indices on the NSE were traded in green with Media, PSU Bank and consumer durables shares leading the rally.

At 13:25 ST, the barometer index, the S&P BSE Sensex jumped 423.23 points or 0.51% to 84,000.72. The Nifty 50 index added 149.70 points or 0.58% to 25,844.35.

The broader market outperformed the frontline indices. The S&P BSE 150 MidCap Index climbed 1.40% and the S&P BSE 250 SmallCap Index rose 2.06%.

The market breadth was strong. On the BSE, 3,034 shares rose and 1,166 shares fell. A total of 188 shares were unchanged.

The NSE`s India VIX, a gauge of the market`s expectation of volatility over the near term, rose 1.71% to 12.15.

Gainers & Losers:

State Bank of India (up 6.89%), Shirram Finance (up 4.02%), Grasim Industries (up2.89%), Tata Steel (up 2.53%) and Tata Motors Passenger Vehicles (up 2.14%) were the major Nifty50 gainers.

Max Healthcare (down 1.50%), ICICI Bank (down 1%), Infosys (down 0.73%), ITC (down 0.68%) and HDFC Bank (down 0.48%) were the major Nifty50 losers.

State Bank of India has rallied 6.89% 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.

Tata Steel added 2.53% after the steelmaker reported a sharp 723.14% jump in consolidated net profit to Rs 2688.70 crore on 6.4% increase in revenue from operations to Rs 56,646.05 crore in Q3 FY26 over Q3 FY25.

India-Malaysia sign key agreements

Prime Minister (PM) Narendra Modi visited Malaysia from 7 February to 8 February 2026 and held bilateral talks with Malaysian PM Anwar Ibrahim. The wide-ranging talks during the two-day official visit, marked a significant step in strengthening the Comprehensive Strategic Partnership between India and Malaysia.

India and Malaysia has signed 11 Memorandums of Understanding (MoUs) and exchanged several bilateral documents across a broad range of sectors during Prime Minister Narendra Modi�s two-day official visit to Kuala Lumpur. The agreements, signed in the presence of PM Modi and his Malaysian counterpart Anwar Ibrahim following delegation-level talks, span trade and investment, semiconductors, digital economy, healthcare, security cooperation and peacekeeping, officials said.

The two leaders launched Malaysia-India Digital Council (MLDC) and backed NPCI�PayNet payment link, paving way to introduce India`s Unified Payments Interface (UPI) system in Malaysia. This initiative will simplify cross-border payments for businesses and travellers and strengthen financial ties between the two economies.

Stocks in Spotlight:

Hi-Tech Pipes added 5.40% after the company announced the commencement of commercial production at its Sikandrabad, Unit-III (Uttar Pradesh) greenfield manufacturing facility. The Sikandrabad facility hosts a production capacity of 0.12 million tons. It would specialise in the production on ERW pipes and hollow sections. The company has reported 14.2% fall in consolidated net profit to Rs 17.38 crore despite a 24.6% increase in net revenue from operations to Rs 1,069.58 crore in Q3 FY26 as compared with Q3 FY25.

Ganesha Ecosphere surged 17.60% after the company delivered a decisive sequential recovery in Q3 FY26. On a sequential basis, Ganesha Ecosphere returned to profitability in Q3 FY26, with consolidated net profit at Rs 4.75 crore compared with a loss of Rs 0.50 crore in Q2 FY26. Revenue from operations eased 1.7% QoQ to Rs 357.22 crore. On a year-on-year basis, consolidated net profit declined 84% YoY from Rs 29.71 crore in Q3 FY25, while revenue from operations fell 10.2% YoY from Rs 397.80 crore.

Shipping Corporation of India soared 16.46% after the company reported a 436.24% surge in consolidated net profit to Rs 404.97 crore in Q3 FY26, compared with Rs 75.52 crore in Q3 FY25. Revenue from operations increased 22.5% year-on-year to Rs 1,611.67 crore for the quarter ended 31 December 2025.

Kalyan Jewellers India zoomed 12.82% after its consolidated net profit surged 90.24% to Rs 416.29 crore in Q3 FY26, supported by a 42.17% increase in revenue from operations to Rs 10,343.4 crore compared to the same period last year.

JK Tyre & Industries rallied 5.46% after the company�s consolidated net profit surged 294.96% to Rs 207.75 crore on a 14.95% increase in revenue from operations to Rs 4,222.96 crore in Q3 FY26 over Q3 FY25.

Ram Ratna Wires rallied 9.83% after the company reported a 73.1% jump in consolidated net profit to Rs 31.28 crore on 43.8% rise in revenue from operations to Rs 1,277.93 crore in Q3 FY26 over Q3 FY25.

Atul Auto surged 10.23% after the company�s consolidated net profit zoomed 98.06% to Rs 15.35 crore in Q3 FY26 as against Rs 7.75 crore posted in Q3 FY25. Total revenue from operations grew by 18.39% year-on-year (YoY) to Rs 230.86 crore in the quarter ended 31 December 2025.

Global Markets:

European market advanced as investors are awaited for the earnings report from UniCredit.

Asian markets advanced on Monday, led by a surge in Japanese stocks following Prime Minister Sanae Takaichi�s 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 minister�s 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 Friday�s 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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