MMI is in the greed zone. It suggests that investors are acting greedy in the market, but the action to be taken depends on the MMI trajectory.
Since last week: Sentiment moved from Fear (36.30) to Greed (59.36).
Sector Highlights
Auto
+1.30%
Tata Motors shares jumped 5% to a fresh 52-week high after its Indonesian unit won a record order, driving broad sector strength. This major contract win demonstrates strong international demand and operational momentum for the auto sector.
PSU Bank
+1.03%
PSU Bank sector gained 1.03% as domestic institutional investors remained supportive with net purchases of Rs 1,174 crore, while sustained foreign portfolio investor selling that had previously weighed on markets has stopped. This shift in fund flows provided positive sentiment for the banking segment.
Pharma
+1.01%
Pharma sector rose 1.01% alongside broader market strength driven by optimism around the India-US trade deal and weak US retail sales data strengthening expectations for Federal Reserve interest rate cuts later this year. Rate cut expectations typically support pharmaceutical stocks through improved valuations.
PSE
-0.16%
PSE sector declined 0.16% despite the broader market's mild positive tone, underperforming as global cues remained positive and optimism around the India-US trade deal continued. The sector's modest underperformance reflects selective profit-taking relative to stronger gains in other segments.
IT
-1.76%
IT sector fell 1.76% as Persistent and TCS led losses following weak US economic data. The decline reflects typical IT sector sensitivity to US economic conditions, particularly after a two-day prior rally in the tech sector.
Sector Scoreboard
Sector
1D
1W
1Y
3Y
Auto
+1.30%
+2.45%
+21.90%
+112.87%
PSU Bank
+1.03%
+3.81%
+49.27%
+133.59%
Pharma
+1.01%
+0.05%
+2.51%
+80.18%
PSE
-0.16%
+1.66%
+19.11%
+139.72%
IT
-1.76%
-7.48%
-16.14%
+15.72%
Stock Spotlight Of The Day
State Bank of India
Market Cap
10,91,982 Cr
Current Price
₹1,183
Stock P/E
13.5
Dividend Yield
1.34%
ROCE
6.47%
ROE
17.2%
Shareholding Changes (Impact Factors)
FIIs
QoQ
0.77%
YoY
0.07%
Stable foreign holding
DIIs
QoQ
-0.61%
YoY
2.25%
Stable domestic holding
Promoters
QoQ
0%
YoY
-1.93%
No change in promoter holding
Quarterly Summary (Absolute)
Revenue
QoQ
Slight growth
1.99%
YoY
Slight growth
4.76%
Expenses
QoQ
Mild increase
6.27%
YoY
Costs rising
18.35%
Net Profit
QoQ
Slight uptick
1.44%
YoY
Healthy growth
13.82%
Profit & Loss (Compounded)
Sales Growth
10 Years
9%
5 Years
13%
3 Years
19%
TTM
6%
Profit Growth
10 Years
16%
5 Years
36%
3 Years
30%
TTM
2%
Stock Price CAGR
10 Years
22%
5 Years
24%
3 Years
27%
1 Year
56%
Return on Equity
10 Years
10%
5 Years
15%
3 Years
17%
Last Year
17%
Fundamentals Corner
While the company maintains a stable 17% ROE, its growth engine is cooling rapidly, with TTM profit growth slumping to 2% from its previous three-year average of 30%.
Growth momentum is currently slowing, evidenced by recent quarterly expenses rising nearly four times faster than revenues, creating a visible squeeze on operational efficiency.
A stark disconnect exists as the stock price surged 56% over the last year despite stalling earnings; however, the low 13.5 P/E suggests the market is reclassifying this from a high-growth compounder to a value play.
News TidBits
State Bank of India (SBI) recently overtook TCS to become India’s fourth-largest company by market capitalization, fueled by quarterly earnings that significantly exceeded analyst expectations.
The bank is a primary beneficiary of the government's infrastructure-led spending, which has supported its asset quality and credit growth in a high-interest-rate environment.
As a bellwether for the PSU banking space, SBI’s leadership is pivotal for sustaining the Bank Nifty’s psychological support above the 60,000 level.
The bank's superior return on equity (ROE) compared to its historical averages and IT peers has led to significant re-rating by both domestic and foreign institutional investors.
Despite potential yield curve pressures from RBI borrowing auctions, SBI’s massive deposit base and credit demand resilience offer a stable outlook for long-term retail investors.
Stacks on Stacks: Tip Time 🤑
When promoter stakes hit record lows while DII holdings hit record highs, the market is shifting from 'owner-driven' to 'institution-driven'—favoring governance over raw growth.
Metals Market
Commodity
Price
Day
Monthly
YoY
Gold
USD/t.oz
5096.92
1.45%
10.84%
75.4%
Silver
USD/t.oz
85.875
6.31%
0.84%
166.04%
Copper
USD/Lbs
6.0574
2.43%
0.43%
29.27%
Steel
CNY/T
3040
-0.39%
-2.91%
-6.2%
Lithium
CNY/T
138000
1.47%
-9.21%
80.27%
Iron Ore CNY
CNY/T
766.5
0.26%
-6.07%
-6.92%
Platinum
USD/t.oz
2195.4
4.52%
-7.78%
111.93%
HRC Steel
USD/T
973.06
-0.2%
3.19%
27.2%
Iron Ore
USD/T
100.84
0.21%
-6.85%
-5.15%
Silicon
CNY/T
8320
0.18%
-4.2%
-23.53%
Scrap Steel
USD/T
373.5
0%
-1.06%
3.89%
Titanium
CNY/KG
45.5
0%
1.11%
0%
Gold and silver prices have shown significant volatility, with silver recently rallying 6.31% in a single day while gold demand in India reached record levels in ETF AUM as a tactical hedge against equity fluctuations.
Industrial metals like copper rose 2.43% tracking a weaker dollar, though immediate gains may be capped by the upcoming Lunar New Year break in China, the world's largest consumer.
Critical Metals Plc's new 10-year off-take agreement for rare-earth production highlights the accelerating global demand for strategic materials essential for the energy transition.
The gold-silver ratio moving back above 60 suggests a potential near-term outperformance of gold over silver, especially as silver remains 40% below its recent peaks.
While precious metals provide safety, industrial commodities like steel and lithium face mixed sentiment due to manufacturing cycle adjustments and evolving EV adoption rates.
FIIs and DIIs combined for net inflows exceeding ₹1,200 crore, reversing a period of sustained selling pressure.
Nifty is maintaining strong support at 25,500, with resistance at 26,000 as high-quality largecaps lead the rally.
Low volatility, indicated by India VIX in the 12-range, suggests institutional comfort with current market valuations.
Q3 Earnings Resilience Across Healthcare and Premium Autos
Apollo Hospitals reported a 35% jump in PAT, driven by high-acuity services and an expanding pharmacy network.
Eicher Motors and M&M continue to show strong profit growth, signaling that premium mobility demand remains intact despite inflationary costs.
Ashok Leyland’s 22% revenue growth suggests a robust commercial vehicle cycle, supported by national infrastructure projects.
MSCI Index Review Triggers Passive Fund Inflow Wave
The addition of seven stocks, including Premier Energies and NSDL, to the MSCI index is expected to drive significant passive inflows by late February.
Weight increases for AU Small Finance and L&T Finance are set to increase liquidity and demand for these mid-cap financial counters.
Passive rebalancing often provides a valuation floor for added stocks, protecting them against broader market corrections.
Energy Transition Capex Drives Multi-Year Industrial Cycle
BHEL's massive thermal and nuclear order book reflects the government's dual focus on traditional and renewable energy security.
Torrent Power’s 10-year LNG agreement indicates a structural shift toward cleaner energy sources in the industrial supply chain.
The expansion of coal gasification and syngas purification roadmaps is fostering a 'virtuous growth cycle' for Indian industrial heavyweights.
FII / DII Snapshot
Yesterday
FII Net: ₹69.45 cr
DII Net: ₹1174.21 cr
January 2026
FII Net: ₹-41435.22 cr
DII Net: ₹69220.74 cr
Daily Flows
Date
FII Net
DII Net
10-Feb-2026
₹69.45 cr
₹1174.21 cr
09-Feb-2026
₹2254.64 cr
₹4.15 cr
06-Feb-2026
₹1950.77 cr
₹-1265.06 cr
05-Feb-2026
₹-2150.51 cr
₹1129.82 cr
04-Feb-2026
₹29.79 cr
₹249.54 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
Ongoing IPOs
Fractal Analytics and Aye Finance are currently open for subscription, though muted demand and low Grey Market Premiums (GMP) suggest growing investor exhaustion with high-valuation primary issues.
Fractal Analytics T
2833.90
Date: 9 Feb - 11 Feb
List: 16 Feb
Subscription: 2.81x
GMP: -0.22%
Aye Finance T
1010.00
Date: 9 Feb - 11 Feb
List: 16 Feb
Subscription: 1.04x
GMP: 0.00%
Upcoming IPOs
PNGS Reva Diamond Jewellery is scheduled to open for subscription on February 24, as the primary market enters a phase of selective participation following recent listing losses in 2026.
PNGS Reva Diamond Jewellery
380.00
Date:24 Feb - 26 Feb
List:4 Mar
Subscription: -
GMP: 0.00%
Cha-Ching Cheatsheet 💵
The Nifty-Gold ratio is the retail investor's ultimate compass; when it dips, it often signals that equities are becoming a bargain relative to the world's oldest hedge.
Global Markets
Country
Index
1D
1Y
3Y
🇯🇵 Japan
Nikkei 225
2.23%
48.58%
108.34%
🇮🇩 Indonesia
Jakarta Composite
1.92%
24.71%
20.5%
🇰🇷 South Korea
KOSPI
0.99%
111.98%
116.8%
🇬🇧 UK
FTSE
0.72%
18.95%
32.31%
🇸🇬 Singapore
Straits Times
0.41%
28.63%
48.32%
🇭🇰 Hong Kong
Hang Seng
0.21%
26.57%
28.55%
🇮🇳 India
GIFT NIFTY
0.13%
12.45%
46.16%
🇹🇭 Thailand
SET Composite
0.09%
11.11%
-15.19%
🇨🇳 China
Shanghai Composite
0.09%
24.38%
26.72%
🇩🇪 Germany
DAX
0.07%
14.12%
63.35%
🇫🇷 France
CAC
-0.14%
3.88%
16.65%
🇺🇸 USA
S&P 500
-0.36%
14.36%
69.66%
US futures stability boosted risk appetite → channeled into EM equities → Nifty gained on renewed FII positioning.
Dollar steadied post-Fed comments → eased rupee pressure → export sectors advanced as currency hedge costs fell.
Commodity stability aided metals linkage → supported infra plays → domestic cyclical stocks participated selectively.
China growth signals lifted EM growth expectations → drew flows to cyclicals → auto ancillaries outperformed IT laggards.
Export textiles benefit from tariff normalization + post-meeting policy tailwinds + buy dips as market ignores trade pivot.
Private banks on credit growth surge + CD ratio rise + accumulate ahead of 61,000 breakout ignoring small-cap pullback.
Auto originals post-Q3 beat + CV cycle refresh + enter on rotation from IT despite broader midcap caution.
Healthcare providers on benign claims + ROE improvement + contrarian long vs IT selloff at cycle lows.
Infra-linked pumps via order book fill + Q3 PAT jump + scale in as smallcaps lag large-cap trade momentum.
Policy & Regulations
The RBI's market borrowing auctions scheduled for February 11 serve as a key liquidity test for the banking system ahead of critical inflation data releases.
Regulatory pressure on the fintech sector intensified following the RBI's restrictive actions against Paytm Payments Bank, signaling a stricter compliance environment for digital lenders.
The RBI has released harmonized co-lending guidelines to align banks and NBFCs, which is expected to improve credit flow to grassroots sectors and boost loan book growth.
SEBI continues to enforce its prohibition on naked short-selling, maintaining a regulatory safeguard against excessive speculative downward pressure on the domestic indices.
Pass-through of government infrastructure spending remains a key policy driver, supporting sectors like capital goods and PSU banks through targeted Union Budget allocations.
Crypto Buzz
Name
Price
Market Cap
24h Change
ATH Change
Bitcoin (BTC)
$66994
$1.34T
-2.73%
-46.86%
Ethereum (ETH)
$1951.04
$235.42B
-3.17%
-60.55%
Tether (USDT)
$0.999577
$184.32B
0.04%
-24.46%
XRP (XRP)
$1.37
$83.58B
-3.05%
-62.39%
BNB (BNB)
$591.65
$80.66B
-5.80%
-56.81%
The total cryptocurrency market capitalization declined by nearly 3% to $2.35 trillion, reflecting a broader pullback in risk assets across global digital exchanges.
Bitcoin price softened to approximately $67,000, while major altcoins like Ethereum and BNB saw declines ranging from 3% to 6% over the last 24-hour period.
Indian investor sentiment in crypto remains cautious as global AI-led disruption begins to shift institutional focus away from speculative digital assets toward solution-oriented technology models.
