Overview
- Indian benchmarks rose for a third straight session on Tuesday, with the Sensex closing up 208 points at 84,273.92 and the Nifty up 67.85 at 25,935.15.
- Foreign institutional investors turned net buyers, with Rs 1,950.77 crore purchased on Feb 6 and Rs 2,254.64 crore on Feb 9, reinforcing the rebound as the rupee stabilized.
- The interim framework announced over the weekend includes US tariff cuts to about 18% on many Indian exports, with India expected to lower or remove duties on US industrial goods and reduce levies on select farm and food items.
- Sectoral leadership broadened after Monday’s PSU bank surge led by SBI’s ~6% jump, with metals, consumer durables, realty and select financials advancing as IT sentiment stayed softer on separate ‘Anthropic’ concerns.
- Strategists say the immediate drag from tariff uncertainty has eased, but market direction now hinges on Q3 results, the persistence of FII inflows, currency moves and the deal’s rollout, with Nifty facing near-term resistance around 26,000.