Market Analysis: Tuesday, Tuesday, February 10, 2026
Indian equity benchmarks continued their upward trajectory for the third consecutive session on Tuesday, Tuesday, February 10, 2026. Market sentiment remained buoyed by a confluence of positive factors, ranging from optimism surrounding a potential India-US trade deal to record-breaking rallies in global indices. While the headline indices posted modest gains, the underlying market breadth revealed a much stronger appetite for risk among retail and institutional participants alike.
1. Executive Summary: Benchmarks Maintain Momentum
The domestic market witnessed a day of consolidation with a positive bias. The Nifty 50 advanced 67.85 points to settle at 25,935.15, while the BSE Sensex climbed 208.17 points to end at 84,273.92. The day was characterized by significant outperformance in the mid-cap and small-cap segments, suggesting that the rally is broadening beyond the blue-chip names. Despite minor profit-booking in the banking and pharmaceutical sectors, the overall tone remained bullish, supported by a substantial net inflow from Domestic Institutional Investors (DIIs).
Benchmark Performance Snapshot
| Index | Closing Value | Point Change | % Change |
|---|---|---|---|
| Nifty 50 | 25,935.15 | +67.85 | +0.26% |
| Sensex | 84,273.92 | +208.17 | +0.25% |
| Bank Nifty | 60,626.40 | -42.95 | -0.07% |
| Nifty Midcap 100 | 60,735.90 | +296.85 | +0.49% |
| Nifty Smallcap 100 | 17,451.20 | +66.15 | +0.38% |
2. Market Mechanics: The Intraday Journey
The trading session on Tuesday, Tuesday, February 10, 2026, began on a firm note, with the Nifty 50 opening at 25,922.65. Early morning momentum, fueled by strong cues from the US and Japan, pushed the index to an intraday high of 25,989.45. For a brief period, it appeared the index would breach the psychologically significant 26,000 mark.
However, as the session progressed, intermittent profit-taking emerged at higher levels. The index dipped to a low of 25,870.45 during the afternoon session before recovery buying in the final hour helped it close near the 25,935 level. The formation of a small-bodied candle on the daily charts suggests a period of healthy consolidation as the market absorbs recent gains.
3. Top Movers Analysis: Corporate Actions and Sectoral Tailwinds
NSE Top 5 Gainers
- Eternal Ltd (+5.19%): The star performer of the day, Eternal Ltd (ETERNAL), surged to ₹303.85. The rally was underpinned by significant block deals involving 1.19 crore shares. The stock continues to benefit from its dominant position in the quick-commerce and food delivery ecosystem.
- Tata Steel Ltd (+2.90%): Closing at ₹207.85, the steel major benefited from the Steel Ministry's announcement regarding ₹11,887 crore PLI agreements for specialty steel.
- ONGC (+1.88%): The oil major rose to ₹271.60 as news of India's robust strategic petroleum reserves (74-day capacity) reinforced the energy security narrative.
- Mahindra & Mahindra (+1.87%): M&M traded higher at ₹3,677.00 following stellar FADA data showing a 17.6% YoY jump in vehicle registrations.
- Bajaj Auto (+1.79%): Rounding out the top five at ₹9,762.00, the company saw buying interest due to its growing market share in the premium motorcycle segment.
NSE Top 5 Losers
- HCL Technologies Ltd (-2.03%): Despite a tech rally in the US, HCL Tech faced profit-booking, closing at ₹1,569.50 as investors grew cautious about margin pressures.
- Bajaj Finance Ltd (-1.82%): The NBFC heavyweight slipped to ₹965.30 amid concerns over rising funding costs and regulatory shifts in the lending space.
- Dr. Reddy's Laboratories (-1.55%): Pricing pressures in the US generic market led to a decline to ₹1,255.70.
- Shriram Finance Ltd (-1.33%): Profit-booking after a recent run-up saw the stock settle at ₹1,048.60.
- Bharti Airtel Ltd (-1.31%): Despite strong operational metrics, the telecom giant faced valuation-linked selling, closing at ₹2,011.50.
4. Sectoral Deep Dive: Media and Auto Lead the Charge
Sectoral performance on Tuesday, Tuesday, February 10, 2026, was largely positive, with specific industry tailwinds driving individual indices.
- Media (+2.40%): The Nifty Media index was the outlier, surging to 1,486.30. This was driven by a recovery in digital ad spends and improved subscription metrics for major broadcasters.
- Auto (+1.37%): Strong vehicle registration data for January 2026 provided the necessary catalyst. The index closed at 28,173.20, with M&M and Bajaj Auto leading the pack.
- Metal (+0.81%): Government policy support through the PLI 1.2 scheme for specialty steel projects provided a lift to the entire sector, with Tata Steel being a primary beneficiary.
- IT (+0.30%): The IT index saw a muted response to the Nasdaq’s 0.90% gain. While some buying was seen in mid-cap IT, heavyweights like HCL Tech dragged the index down.
- Banking (-0.07%): The Bank Nifty underperformed the broader market, as private sector lenders faced selling pressure. The Nifty PSU Bank index also slipped 0.19%, reflecting a cautious stance ahead of quarterly results.
- Pharma (-0.36%): This was the weakest performing sector of the day, hit by regulatory concerns and pricing headwinds in international markets.
5. Institutional Activity: DIIs Provide the Floor
The institutional landscape on Tuesday, Tuesday, February 10, 2026, highlighted the continued dominance of domestic liquidity.
- FII Activity: Foreign Institutional Investors were net buyers to the tune of ₹69.45 crore. While the amount is modest, it signifies a stabilization of foreign flows after recent periods of volatility.
- DII Activity: Domestic Institutional Investors remained the market's backbone, recording a net purchase of ₹1,174.21 crore. Robust SIP inflows and increased equity allocations from insurance funds continue to absorb any selling pressure from other quarters.
6. Market Breadth: A Sign of Healthy Participation
Market breadth remained decidedly positive, indicating that the rally was not top-heavy.
- NSE Breadth: 2,456 stocks advanced, while 1,605 declined.
- BSE Breadth: 2,655 stocks advanced against 1,385 declines.
- 52-Week Highs: 127 stocks hit their one-year highs, showcasing momentum in specific themes like infrastructure and specialty chemicals.
- Volatility: The India VIX dropped 4.30% to 11.67, suggesting a decrease in market fear and a higher comfort level among participants at current valuations.
7. Global Factors: Records Broken Worldwide
Indian markets were influenced by a exceptionally bullish global backdrop:
- US Markets: The Dow Jones hit a historic milestone on February 9, closing above 50,000 for the first time at 50,135.87. The S&P 500 and Nasdaq also posted gains of 0.47% and 0.90%, respectively.
- Asian Markets: Japan's Nikkei 225 surged a staggering 2.28% to reach a record 57,650.54. Hong Kong and China also ended in the green, providing a positive regional framework for India.
- Currencies & Commodities: The Indian Rupee appreciated by 9 paise to close at 90.57 against the USD. Brent Crude oil traded slightly lower at $68.89 per barrel, which is fundamentally positive for India's fiscal position.
8. Key News Impact Analysis
- India-US Trade Optimism: Markets are pricing in a potential breakthrough in trade negotiations, which could benefit sectors like textiles, chemicals, and IT services.
- Steel PLI Scheme: The signing of agreements for 85 specialty steel projects worth ₹11,887 crore is a long-term positive for the metal sector, aimed at reducing imports.
- Auto Registrations: The 17.6% YoY growth in registrations signaled that both urban and rural demand are firing on all cylinders, justifying the premium valuations in the auto space.
9. Technical Outlook and Strategic Implications
Technical Levels:
The Nifty 50 faces immediate resistance at the 26,000 mark. A decisive close above this level could open the doors for a move toward the all-time high of 26,373. On the downside, 25,800 remains a crucial support level, followed by the 20-day moving average at 25,700.
Strategic Takeaways:
For retail investors, the current environment suggests a "buy-on-dips" approach. While the headline indices may consolidate, the broader market indices (Midcap/Smallcap) continue to show relative strength. Investors should focus on sectors with clear policy catalysts, such as Metals and Auto, while remaining selective in the IT and Banking space where margin pressures are becoming more evident.
The decline in the India VIX to 11.67 indicates that the current uptrend is stable. However, with major global data releases scheduled for later in the week, maintaining a diversified portfolio with a focus on quality over momentum remains the most prudent path.