The Indian stock market stayed higher for the third straight session on Tuesday, February 10, largely supported by auto, metal, and tech stocks, as Street sentiment remained buoyed by the US-India interim trade deal, the return of overseas investors, and easing geopolitical and trade-related worries.
The Nifty 50 finished the session 0.26% higher at the 25,935 level, while the S&P Sensex closed 0.25% higher at 84,273 points. Broader markets also ended with gains, as both the Nifty Midcap 100 and the Nifty Smallcap 100 rallied over 0.40%.
In terms of sectoral performance, Nifty Media emerged as the top gainer, with a 2.40% jump, followed by Nifty Auto and Nifty Metal, which surged 1.37% and 0.80%, respectively. On the losing side, Nifty Pharma fell 0.36%, while the Nifty PSU Bank index closed with a marginal loss of 0.20%.
Foreign portfolio investors ₹2,254 crore”>(FPIs) invested another ₹2,254 crore into the Indian stock market in the previous session, taking their month-to-date inflows to ₹Rs 11,641 crore.
Meanwhile, India and the US announced an interim trade deal over the weekend, which would reduce taxes on Indian imported goods to 18% from the earlier 50%.
On the geopolitical front, talks between Iran and the US are progressing, keeping crude oil prices under pressure.
The US dollar has also lost 1% over the last two sessions, following reports that Chinese regulators have advised financial institutions to limit their holdings of US Treasuries.
Earnings-driven rally lifts select stocks; Praj Industries, JM Financial among top gainers
Praj Industries topped the gainers as the stock advanced 15.6% in its biggest single-day spike in the recent past, hitting a five-week high of ₹342 apiece. Both Amber Enterprises and BSE reacted positively to their December quarter performance, rising over 6% each.
Others included Linde India and Bata India, which also posted strong gains of 4.2% and 4%, respectively, as investors reacted positively to the companies’ December quarter performance.
Keeping its momentum steady for the second straight session, JM Financial shares gained another 7.5% to ₹140 pieces.
Food delivery aggregators Eternal and Swiggy also witnessed strong demand, rallying 5% and 7%, respectively.
Tata Communications, Sapphire Foods India, Force Motors, and Graphite India closed with gains of over 5%.
Railway major RailTel Corporation ended 4.2% higher after the company received a Letter of Acceptance (LoA) from West Central Railway for a major project valued at ₹454.95 crore, scheduled for completion by September 24, 2028.
Overall, 43 constituents of the Nifty 500 index finished the session with gains of over 3%.
Textile stocks give up gains; Aurobindo Pharma tumbles after Q3 results
Among the top laggards, Aurobindo Pharma led the losses as the stock plunged 6.6% to ₹1,124 apiece following its December quarter performance.
Meanwhile, textile stocks, which had seen a sharp rally in recent sessions, gave up part of those gains after the US lowered tariffs on Bangladeshi imports — a key textile exporter to the US — to 19%.
Welspun Living, Vardhman Textiles, Trident, and KPR Mill declined between 2.9% and 5.7%.
Navin Fluorine International also reacted negatively to its December quarter results, with the stock slipping 4% to ₹6,338 pieces.
Only 15 stocks from the Nifty 500 pack closed lower by more than 3%.
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