Global Market Cues

The global market setup remains overwhelmingly positive as major indices continue their record-breaking run. Overnight on Wall Street, the Dow Jones Industrial Average closed above the 50,000 mark for the second consecutive session, ending at a record 50,135.87. The tech-heavy Nasdaq Composite led the gains with a 0.9% rise, fueled by a resurgence in AI and semiconductor stocks like Nvidia, Broadcom, and Oracle.

In Asia this morning, markets are trading with significant gains. Japan’s Nikkei 225 has surged nearly 2%, crossing the 57,000 milestone following a landslide election victory for Prime Minister Sanae Takaichi’s ruling party, which has boosted hopes for continued economic reforms. South Korea’s Kospi and Hong Kong’s Hang Seng are also trading higher, reflecting broad-based optimism.

• US Markets: Dow (+0.04% at 50,135), Nasdaq (+0.90%), S&P 500 (+0.47%).
• Asian Markets: Nikkei 225 (+1.95%), Kospi (+1.21%), Hang Seng Futures (+1.76%).
• Commodities: Gold remains volatile around $5,080/oz, while Silver prices have stabilized after a 6.9% jump. Brent crude is hovering near $69 per barrel.

GIFT Nifty and Domestic Cues

GIFT Nifty is currently trading around the 25,985–25,990 levels, suggesting a premium of approximately 100 points over Nifty’s previous close. Domestic sentiment is highly optimistic following the announcement of a preliminary India-US trade framework, which is expected to benefit export-oriented sectors.

Institutional activity remains a major pillar of support. On Monday, Foreign Institutional Investors (FIIs) were net buyers to the tune of ₹2,254.64 crore, while Domestic Institutional Investors (DIIs) showed even stronger conviction, purchasing shares worth ₹4,156 crore.

• Institutional Activity: FIIs and DIIs both remained net buyers on Feb 9.
• Technical Outlook: Analysts suggest Nifty is likely to retest the 26,000 level shortly; a decisive breakout could lead to fresh all-time highs.
• Currency: The Rupee is expected to open steady against the USD, tracking a slightly weaker Dollar index.

Key Stocks in Focus

The final leg of the Q3 earnings season will drive significant stock-specific action today.

• Earnings Today: Titan Company, Grasim Industries, Eicher Motors, Britannia Industries, Samvardhana Motherson, and Apollo Hospitals are among the major names reporting their quarterly results.
• BSE: The exchange reported a stellar 174% jump in consolidated net profit for the December quarter, reaching ₹602 crore.
• Tata Steel & Metal Stocks: Expected to remain in focus due to the India-US trade framework and rising global commodity demand.
• IndusInd Bank & Maruti Suzuki: Brokerages have issued positive recommendations following strong technical breakouts and sector-wide momentum.

Key Events to Watch Today

Investors should keep an eye on several macro developments and regulatory updates.

• AMFI Data: Monthly mutual fund inflow data for January is scheduled for release.
• RBI Auctions: The Reserve Bank of India will conduct auctions for state government bonds.
• IPOs: The mainboard IPOs of Fractal Analytics and Aye Finance enter their second day of bidding.
• Policy & Governance: Home Minister Amit Shah is scheduled to address a national conference on cyber crime.

TAGS: Pre-Market, Stock Market, Nifty, Sensex, Market Update

Tags: Pre-Market Stock Market Nifty Sensex Market Update