TLDR
Market Recap: February 09, 2026
On February 09, Indian equities extended gains as details of an interim India-US trade framework improved risk appetite, while earnings momentum kept buyers active across sectors. Sensex closed at 84,065.75 (+485.77, +0.58%) and Nifty 50 ended at 25,867.30 (+173.60, +0.68%). Broader markets outperformed with Nifty Midcap 100 at 60,441.15 (+938.45, +1.58%), while smallcaps gained about 2.6%. India VIX rose to 12.19 (+0.25, +2.09%), signalling a mild pickup in hedging demand even as sentiment stayed constructive
Key Drivers :
Trade optimism lifts cyclicals: Interim India-US framework lowered tariff anxiety and sparked rotation into export-linked pockets and domestic risk beta.
Foreign bid returns: FIIs turned net buyers at ₹2,255 crore while DIIs were near flat, reinforcing the day’s broader risk-on tone.
SMIDs lead, vol ticks up: Midcaps and smallcaps outpaced benchmarks as earnings breadth stayed supportive, even with India VIX rising above 12.
Today’s Top Stories:
SBI hits record close: Profit beat plus higher loan growth guidance drove a sharp rerate and a 7.5% pop.
Tata Steel profit spikes: India execution delivered a margin lift and a profit surge; stock gained on improved operating leverage.
Aye Finance IPO tepid: Day 1 bids stayed thin at 3% with flat GMP as institutions waited for clearer risk-reward.
Fractal IPO cautious: Subscription reached 9% with only a small GMP, keeping focus on long term AI execution.
Gravita buys RMIL: ₹800 crore copper alloys entry adds a new growth leg; shares edged higher on diversification.
TOP STORIES
1. SBI rips to record close after profit beat, loan growth outlook raised
Print: Profit beat drove upgrades; loan growth outlook lifted to 13% to 15%.
So what: Retail and SME demand stayed strong; asset quality improved with GNPA down to 1.57%.
Tape: Stock jumped 7.5% to ₹1,146, leading the day’s gains in banks.
SBI rallied to a record close after a profit beat and higher loan growth outlook. Your take?
2. Tata Steel profit spikes, India execution stays the engine
Gemini-2.5
Print: Q3 net profit jumped 723% YoY to ₹2,689 crore; revenue came in at ₹57,002 crore.
So what: India's delivery strength offsets Europe's uncertainty; margins hinge on pricing and import pressure.
Tape: Stock held firm as investors bought the India print, still watching sustainability.
Tata Steel posted a sharp profit jump led by India. What matters most next?
3. Aye Finance IPO opens slow, institutions stay on the sidelines early
Gemini-2.5
Offer: Day 1 subscription was about 3%; retail did the heavy lifting at 15% of its bucket.
So what: Market wants proof on underwriting and cycle risk in MSME credit before chasing the book.
Tape: GMP stayed weak, signalling cautious listing expectations unless demand builds fast.
Aye Finance IPO opened with muted demand and weak GMP. Your view?
4. Fractal Analytics IPO gets a muted start, tech appetite looks selective
Gemini-2.5
Offer: Day 1 subscription was about 9% for the ₹2,834 crore issue; bidding runs Feb 9 to 11.
So what: A rare enterprise AI listing, but investors want valuation comfort and profitability visibility.
Tape: Small GMP points to cautious optimism, not a frenzy.
Fractal IPO started slow, with selective interest in AI listings. Your stance?
5. Gravita buys RMIL for about ₹800 crore, enters copper and copper alloys
Gemini-2.5
Deal: Binding agreement announced; enterprise value around ₹800 crore for Rashtriya Metal Industries.
So what: Diversifies beyond lead recycling into copper alloys, riding electrification and export demand themes.
Tape: Market read is a mix upgrade plus execution risk on integration and ramp-up.
Gravita is buying RMIL to enter copper alloys. How do you read the deal?
GYAANI HOT TAKES
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