Market Closing: Sensex jumps 485 points, Nifty reclaims 25,800 as banks, midcap & smallcap rally
- 9th February 2026
- 05:30 PM
- 3 min read
Summary
Indian equity markets ended higher on Monday as buying in banking stocks, optimism around an interim India–US trade framework and positive global cues lifted sentiment. The Sensex rose 485 points, while the Nifty reclaimed the 25,800 mark. Broader markets outperformed, led by midcap and smallcap stocks.Mumbai | February 9
Indian equity benchmarks closed higher on Monday, holding on to opening gains amid broad-based buying, strong bank earnings and supportive global cues.
Global markets also traded with a positive bias, providing a supportive backdrop for domestic equities amid easing trade-related concerns and steady risk sentiment across Asia.
The BSE Sensex rose 485 points, or 0.58%, to close at 84,065.75, while the NSE Nifty advanced 0.68% to 25,867.3, reclaiming the key 25,800 level. The Bank Nifty climbed nearly 1% to 60,669, led by sharp gains in PSU banks.
The rally was driven by strong quarterly earnings from banks, led by State Bank of India, which surged to a record high after posting upbeat Q3 numbers and raising guidance. Buying was also seen across select financials and rate-sensitive stocks.
Broader markets outperform
Broader markets outperformed the benchmarks, with the midcap index rising over 1.5% and the Nifty smallcap index gaining more than 2.5%, indicating healthy risk appetite. Market breadth remained firmly positive, with advances significantly outnumbering declines on the NSE.
Sectoral performance
All sectoral indices closed in the green, led by consumer durables and PSU banks, while metal and capital goods stocks also saw healthy buying. The Nifty IT index underperformed, ending largely flat compared with the broader market.
SBI tops Nifty gainers; results trigger stock-specific moves
Among Nifty stocks, State Bank of India emerged as the top gainer, surging 7% to a record high after reporting strong third-quarter earnings and raising its guidance. Shriram Finance climbed 6%, while Grasim Industries and Titan gained around 3% each ahead of their results. Tata Steel rose nearly 3% after its quarterly numbers beat estimates.
On the downside, Max Healthcare, Power Grid, ITC, ICICI Bank and ONGC ended lower.
Stocks in focus
In the broader market, Kalyan Jewellers rallied over 15% on strong quarterly results, while Zydus Life gained after reporting better-than-expected earnings. Textile stocks, including Gokaldas Exports, advanced on optimism around the interim India–US trade framework. Vodafone Idea rose following promoter buying in the open market. PFC and REC, however, bucked the broader trend and closed lower after their boards approved a merger.
Rupee, cues ahead
In the currency market, the rupee ended slightly weaker at 90.76 against the US dollar.
With the earnings season entering its final leg, market moves are expected to remain stock-specific, with management commentary, global developments and currency trends guiding near-term sentiment.
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