The **India-US trade deal** dominated market thinking, sparking optimism and a strong rebound as participants reacted with relief, shrugging off prior budget-related volatility through aggressive buying.
**India-US trade deal** drove the day's sentiment, leading to consolidation after early gains as retail investors shifted from skepticism to positioning for upside amid supportive global cues.
Dominant **India-US trade deal** fueled high intraday volatility, with profit booking tempered by broader optimism as domestic institutions countered foreign outflows effectively.
Market fixated on the **India-US trade deal**, resulting in a rebound reflective of renewed confidence, as fear from previous session's mixed close gave way to risk-on positioning.
**India-US trade deal** overshadowed budget jitters, prompting a selloff reversal through intraday recovery, driven by participant relief and selective heavyweight support.
Key Indices
NIFTY 50
25,776
0.19%
SENSEX
83,817.69
0.09%
Momentum Snapshot
Index
Price
1D
1M
1Y
Sensex
83,817.69
0.09%
-1.90%
7.09%
Nifty Smallcap 250
16,084
0.76%
-4.24%
1.44%
Nifty Next 50
69,299
0.65%
-1.59%
8.96%
Nifty Midcap 100
59,684
0.63%
-2.74%
10.91%
Nifty 50
25,776
0.19%
-2.10%
8.58%
Market Sentiment
MMI Score
36.30
Fear
MMI is in the fear zone. It suggests that investors are fearful in the market, but the action to be taken depends on the MMI trajectory.
Since last week: Sentiment moved from Fear (35.61) to Fear (36.30).
Sector Highlights
Energy
+2.00%
Gains driven by supportive global cues including strong US indices and Nikkei rally, alongside robust DII buying offsetting FII outflows.
CPSE
+1.91%
Rise attributed to positive momentum from recent Budget 2026 announcements boosting public sector enterprises, with Nifty PSE up 1.82%.
Commodities
+1.90%
Upward movement fueled by surge in gold and silver ETFs up to 9%, extending precious metals rebound amid global risk-off sentiment.
Pharma
-0.34%
Modest decline amid broader market weakness and negative trading terrain, lacking specific positive catalysts.
IT
-5.87%
Sharp drop of up to 8% triggered by global tech selloff led by Anthropic's new AI tool threatening Indian IT firms like Infosys and TCS.
Sector Scoreboard
Sector
1D
1W
1Y
3Y
Energy
+2.00%
+7.10%
+10.82%
+57.51%
CPSE
+1.91%
+5.26%
+17.63%
+146.43%
Commodities
+1.90%
+2.53%
+23.77%
+73.28%
Pharma
-0.34%
+1.89%
+3.93%
+82.20%
IT
-5.87%
+0.12%
-8.75%
+26.19%
Stock Spotlight Of The Day
Adani Ports and Special Economic Zone Limited
Market Cap
3,61,030 Cr
Current Price
₹1,567
Stock P/E
28.6
Dividend Yield
0.45%
ROCE
13.8%
ROE
18.8%
Shareholding Changes (Impact Factors)
FIIs
QoQ
-0.51%
YoY
-0.84%
Stable foreign holding
DIIs
QoQ
-1.14%
YoY
-0.31%
Mild domestic selling
Promoters
QoQ
2.13%
YoY
2.13%
Promoters raising stake
Quarterly Summary (Absolute)
Sales
QoQ
Mild rise
5.87%
YoY
Strong momentum
21.86%
Expenses
QoQ
Slight uptick
2.4%
YoY
High escalation
23.98%
Operating Profit
QoQ
Mild gains
8.35%
YoY
Strong profit
20.49%
Net Profit
QoQ
Flat trend
-2.47%
YoY
Strong earnings
20.85%
Profit & Loss (Compounded)
Sales Growth
10 Years
17%
5 Years
21%
3 Years
21%
TTM
24%
Profit Growth
10 Years
17%
5 Years
23%
3 Years
27%
TTM
19%
Stock Price CAGR
10 Years
22%
5 Years
22%
3 Years
45%
1 Year
36%
Return on Equity
10 Years
18%
5 Years
17%
3 Years
17%
Last Year
19%
Fundamentals Corner
Sales momentum is accelerating with TTM growth hitting 24% against a 17% decade-long average, supported by a resilient and strengthening 19% ROE. However, a minor mismatch has appeared as recent expense growth outpaces revenue, causing a slight sequential dip in net profit despite strong YoY performance.
While the 28.6 P/E remains grounded, the aggressive 45% 3-year price CAGR suggests the market is pricing in a return to peak profit growth, making the recent margin pressure a key area to monitor.
News TidBits
The company emerged as a primary beneficiary of the US-India trade deal, which slashes export tariffs to 18% and is expected to significantly surge cargo volumes through its port network.
Management is successfully transitioning major infrastructure projects into operational phases, which analysts expect will drive a substantial increase in EBITDA and cash flow consistency.
Strategic focus on global logistics and international defense partnerships is helping the company diversify revenue streams and reduce its dependence on domestic cyclicality.
The stock rallied 2.42% to ₹1,567.90, reflecting investor optimism about its role in India's integration into global supply chains under the 'China+1' strategy.
Potential risks include broad market profit-taking and secondary volatility stemming from the ongoing IT sector de-rating that could weigh on heavy-weight constituents.
Stacks on Stacks: Tip Time 🤑
True diversification is not just about owning different stocks, but owning assets that respond differently to the same catalyst, as evidenced by how gold protected portfolios while IT stocks faced a 'SaaSpocalypse'.
Metals Market
Commodity
Price
Day
Monthly
YoY
Gold
USD/t.oz
5024.98
1.59%
13.01%
75.15%
Silver
USD/t.oz
89.438
5.11%
16.8%
176.8%
Copper
USD/Lbs
6.0356
-0.84%
1.01%
35.42%
Steel
CNY/T
3092
0.06%
0.78%
-5.1%
Lithium
CNY/T
153000
-0.31%
28.03%
97.04%
Iron Ore CNY
CNY/T
781.5
-0.13%
-1.57%
-2.92%
Platinum
USD/t.oz
2259.1
2.28%
-1.26%
124.34%
HRC Steel
USD/T
969.06
-0.2%
3.87%
30.6%
Iron Ore
USD/T
102.16
-0.49%
-3.74%
-3.07%
Silicon
CNY/T
8800
0.28%
1.15%
-18.78%
Scrap Steel
USD/T
377.5
0.8%
1.48%
5.01%
Titanium
CNY/KG
45.5
0%
-1.09%
0%
Precious metals have entered a period of extreme volatility, with silver prices experiencing a record intraday plunge of 26% before mounting a partial 5.6% recovery as traders digest currency strength.
A stronger U.S. dollar and rapid profit-taking forced gold down to $4,622 per ounce, marking a significant correction after a week of record-breaking gains that saw gold transition into a primary reserve asset.
Despite short-term price corrections, Indian household gold holdings are now valued at a staggering $4.5 trillion, reflecting a structural shift away from US Treasuries toward hard assets.
Top News Developments
US-India Trade Deal Slaughters Tariffs to 18%
The reduction of reciprocal tariffs to 18% acts as a structural catalyst for textiles, auto ancillaries, and electronics, significantly enhancing India's global export competitiveness.
This agreement resolves prolonged macro uncertainty and positions India as a primary strategic alternative to China for multinational manufacturers.
The Nifty 50 added ₹20 lakh crore in market capitalization following the announcement, marking one of the strongest single-day rallies in history driven by FII buying.
SaaSpocalypse: AI Tools Trigger Steepest IT Sector Plunge in Six Years
The launch of Anthropic's new AI tools has sparked fears that core maintenance and coding services will be automated, leading to a massive de-rating of Indian IT majors.
Heavyweights like HCL Tech and Infosys saw significant declines, dragging the Nifty IT index to its worst performance in years as investors fear the loss of traditional revenue models.
While some institutional players view the selloff as 'outright panic,' mid-tier firms are being forced to pivot toward specialized AI content technology to mitigate obsolescence risks.
Strategic Shift: Private Sector Takes the Lead in Indian Defense
HAL's exclusion from the next-gen AMCA fighter jet program in favor of L&T, Bharat Forge, and Tata Advanced Systems marks a tectonic shift toward private defense partnerships.
This pivot provides long-term revenue visibility for private engineering firms while introducing structural uncertainty for traditional PSU defense giants.
Aggressive international defense partnerships are becoming a primary driver of valuation for the capital goods sector as India expands its global security footprint.
FII / DII Snapshot
Yesterday
FII Net: ₹5236.28 cr
DII Net: ₹1014.24 cr
January 2026
FII Net: ₹-41435.22 cr
DII Net: ₹69220.74 cr
Daily Flows
Date
FII Net
DII Net
03-Feb-2026
₹5236.28 cr
₹1014.24 cr
02-Feb-2026
₹-1832.46 cr
₹2446.33 cr
01-Feb-2026
₹-588.34 cr
₹-682.73 cr
Monthly Flows
Month
FII Net
DII Net
January 2026
₹-41435.22 cr
₹69220.74 cr
December 2025
₹-34349.62 cr
₹79619.91 cr
November 2025
₹-17500.31 cr
₹77083.78 cr
October 2025
₹-2346.89 cr
₹52794.02 cr
September 2025
₹-35301.36 cr
₹65343.59 cr
August 2025
₹-46902.92 cr
₹94828.55 cr
IPO Watchlist
Upcoming IPOs
Fractal Analytics is set to launch India’s first pure-play AI IPO on February 9, seeking ₹2,834 crore in a listing that will serve as a critical litmus test for domestic AI valuations.
The upcoming IPO pipeline remains strong with 14 companies aiming to raise ₹20,000 crore, while the NSE is reportedly targeting a March or April filing for its highly anticipated public debut.
Fractal Analytics
2833.90
Date:9 Feb - 11 Feb
List:16 Feb
Subscription: -
GMP: 16.67%
Aye Finance
1010.00
Date:9 Feb - 11 Feb
List:16 Feb
Subscription: -
GMP: 3.88%
Cha-Ching Cheatsheet 💵
Avoid the 'hiring paradox' trap; do not mistake rising profits for long-term health if a company is increasing efficiency by shrinking its core workforce in an expanding economy.
Strong overnight gains in US indices boosted global risk appetite, transmitting positive sentiment into Indian markets via improved capital flow expectations.
Sharp rally in Japan’s Nikkei enhanced Asian momentum, easing currency pressures and supporting Indian equity sentiment through regional risk-on environment.
Mixed Asian markets including slight Shanghai dip created cautious undertones, yet transmitted limited downside via contained volatility spillovers to India.
Geopolitical tensions around Iran war risks weighed on global sentiment, prompting defensive positioning and mild risk-off flows into Indian markets.
Robust FII/DII flows amid intermittent foreign outflows stabilized liquidity expectations, directly countering global uncertainty for Indian sentiment.
Emerging Opportunities
Trade deal unlocks long-term export competitiveness, emerging as a structural theme from improved bilateral ties and macro stability.
Domestic institutional resilience highlights cyclical rotation potential amid foreign flow volatility, favoring sustained local capital cycles.
Post-budget clarity amid trade optimism reveals contrarian rebound setups in areas hit by prior tax hikes.
Global risk-on cues from US and Japan signal medium-term positioning shifts toward growth-oriented narratives in India.
Offsetting FII outflows via DII buying underscores structural inflow diversification as a promising macro theme.
Policy & Regulations
SEBI is proposing a revamp of the ‘fit and proper’ framework to narrow disqualification norms and codify the right to a hearing, aiming to reduce regulatory uncertainty for market intermediaries.
The implementation of new labor codes is creating a uniform one-time expense drag on Q3 corporate earnings, particularly impacting firms with large workforces like Godrej Agrovet and Kansai Nerolac.
The government remains firm on the recent STT hike for F&O transactions, signaling a decisive policy shift to curb retail speculation in favor of long-term capital formation.
Crypto Buzz
Name
Price
Market Cap
24h Change
ATH Change
Bitcoin (BTC)
$75859
$1.52T
-2.86%
-39.83%
Ethereum (ETH)
$2237.84
$269.80B
-1.79%
-54.75%
Tether (USDT)
$0.998645
$185.47B
-0.04%
-24.52%
BNB (BNB)
$749.48
$102.12B
-2.40%
-45.29%
XRP (XRP)
$1.58
$96.36B
-1.02%
-56.57%
Bitcoin's price slipped toward $72,877, reigniting the debate over its validity as 'digital gold' as it failed to mirror the safe-haven rallies seen in precious metals during recent market stress.
The global cryptocurrency market capitalization fell by 2.31% to roughly $2.67 trillion, with Bitcoin-led selling pressure signaling a bumpy short-term outlook for digital assets.
