SBI and Tata Steel Boost Indian Stock Market
The Indian stock market is witnessing a remarkable surge, fueled by optimism surrounding the recent India-US trade agreement and robust earnings reports from major companies. As of February 9, 2026, the S&P BSE Sensex rose by 0.87% to reach 84,314.68 points, while the NSE Nifty 50 gained 0.88%, closing at 25,922.25 points. This positive momentum can be attributed to the strong performances of key players like the State Bank of India (SBI), which reported impressive quarterly earnings.
SBI’s stock soared to a record high after the bank posted a remarkable 24.5% increase in net profit for the third quarter, reaching ₹21,028 crore. The bank also raised its full-year growth forecast, signaling confidence in its future performance. This surge in SBI's stock is not an isolated incident; it reflects a broader trend in the market, where fifteen out of sixteen major sectors experienced growth.
One of the significant drivers of this market rally is the positive sentiment generated by the impending India-US trade deal. The agreement aims to lower tariffs and enhance economic cooperation, particularly benefiting sectors linked to exports. V.K. Vijayakumar, chief investment strategist at Geojit Investments, noted that foreign investors, who had previously been net sellers, have shifted their strategy and started buying shares in the cash market. In the last four trading sessions alone, foreign portfolio investors purchased Indian shares worth ₹8,980 crore.
The market's confidence is not unfounded. The recent trade framework signifies a potential boost for Indian exporters, alleviating previous uncertainties that had weighed heavily on the market. As more clarity emerges about the trade agreement, the expectation is that businesses will capitalize on the new opportunities presented by this international collaboration.
Additionally, other companies like Tata Steel are also reporting strong earnings, with increased sales volumes helping to cushion the impact of fluctuating steel prices. Overall, the positive earnings reports and the trade deal are contributing to a favorable economic environment, setting the stage for sustained growth across various sectors.
As the market continues to respond to these developments, investors are advised to stay informed and consider the opportunities arising from this dynamic landscape. The current climate suggests that the Indian stock market is gearing up for a promising future.
