Taking Stock | Market cheers RBI’s accommodative stance; Sensex gains 460 points, Nifty closes above 17,600

On the BSE, out of 3,448 stocks traded, there were 1,769 declines, 1,568 advances while 111 stocks remained unchanged.

The domestic stock market, on February 10, gave a thumbs-up to the RBI's MPC members' decision to keep the key policy rates unchanged and continue to maintain the accommodative stance "as long as necessary" to support the economy amid the COVID-19 pandemic.

The market ended in the green for the third consecutive session.

The positive global cues pushed the 30-pack BSE Sensex 460 points or 0.79 percent higher at 58,926 while the NSE's Nifty50 index ended the day 142 points or 0.81 percent higher at 17,606 levels.

The BSE Sensex opened the day 345 points higher from its previous close at 58,810.5 but soon erased gains in the first hour itself to make an intra-day low of 58,332. The RBI policy announcements lifted the sentiments and Sensex swung 728 points to make an intra-day high of 59,060.

Nifty opened 90 points higher from its previous close, at 17,554. It pulled down to make an intra-day low of 17,427 before reversing the trend to make an intra-day high of 17,639.

“After a quiet start ahead of US inflation data and state elections back home, Indices recovered smartly post the accommodative stance of the RBI which held status quo on key rates”, said S Ranganathan, Head of Research at LKP securities.

“Though the market expected RBI to moderate its policy tone, the central bank surprised with a super dovish statement by maintaining its accommodative stance, modest inflation forecast and GDP growth of 7.8% in FY23”, said Vinod Nair, Head of Research at Geojit Financial Services.

Stock and Sectors

Index	Prices	Change	Change%
Sensex	85,132.48	-99.44	-0.12%
Nifty 50	26,032.00	-36.15	-0.14%
Nifty Bank	59,122.25	254.55	+0.43%

Nifty 50 26,032.00 -36.15 (-0.14%)

Mon, Nov 24, 2025

• 1D
• 5D
• 1M
• 3M
• 6M
• 1Y
• 2Y

Biggest Gainer	Prices	Change	Change%
Tech Mahindra	1,495.00	33.50	+2.29%

Biggest Loser	Prices	Change	Change%
JSW Steel	1,111.10	-29.20	-2.56%

Best Sector	Prices	Change	Change%
Nifty IT	37142.20	256.90	+0.70%

Worst Sector	Prices	Change	Change%
Nifty Metal	10036.40	-106.10	-1.05%

On the NSE, all sectors barring Auto and PSU Banks settled in the green. Nifty Media was the biggest gainer as it was up 1.66 percent, followed by Nifty Metals which edged higher by 1.24 percent. Nifty Bank, Financial Services and Nifty IT gained around 1 percent each. Nifty Auto and Nifty PSU Bank lost 0.05 percent.

Broader markets, too, ended in the positive territory. The BSE Midcap moved higher by 0.3 percent while the BSE Smallcap ended marginally higher by 0.04 percent.

India VIX, which indicates the degree of volatility traders expect over the next 30 days, moved down significantly by 4.55 percent from 18.55 to 17.71 levels.

“As the volatility index cooled off, Metals led the rally well supported by Real Estate & Mortgage companies in the broader market. Buoyed by a lower inflation forecast going forward, the rally percolated to IT & Financials in afternoon trade”, added Ranganathan.

Maruti Suzuki, BPCL, IOC, Shree Cements,, and UltraTech Cement were the top losers on Nifty, falling between 0.4 to 1.6 percent.

On the other hand, ONGC, Tata Steel, Infosys, HDFC Bank, and SBI Life Insurance were the top Nifty gainers, each edging higher by 1.8 to 3.1 percent.

The long build-up was seen in Jindal Steel, FSL, and Aurobindo Pharma while the short build-up was seen in Page Industries, Bharat Forge, and IPCA Labs.

Among individual stocks, a volume spike of more than 787 percent was seen in Strides Pharma. Bharat Forge saw its volume increase by 686 percent and Whirpool saw a spike of more than 550 percent.

On the BSE, out of 3,448 stocks traded, there were 1,769 declines, 1,568 advances while 111 stocks remained unchanged.

Outlook for February 11

Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd

Benchmark indices continued the positive momentum post-RBI’S decision to keep the policy interest rate unchanged. The Nifty has maintained a strong momentum to trade above the 50-day SMA. The intraday formation indicates a further uptrend from the current levels. On daily charts, the index has formed a bullish candle that also supports the uptrend. For the traders, support has shifted to 17,450 from 17,350, and as long as the index is trading above the same, the uptrend formation will persist up to 17,700-17,750. However, the uptrend could be vulnerable if the index falls below 17,450 or 50-day SMA.

Palak Kothari, Research Associate, Choice Broking

Technically, the index has taken a support at 61.8% Retracement Level on February 8 and reversed from there, which suggests further support zone near 17,150 levels. The index has also sustained above 50-day SMA on the daily chart, which indicates the upside move for the coming day. A momentum indicator RSI & Stochastic witnessed a positive crossover that supported the bullish trend. At present, the Index has support at 17,400 levels while resistance comes in at 17,800 levels. On the other hand, Bank Nifty has support at 38,500 levels while resistance is at 39,500 levels.

Rupak De, Senior Technical Analyst at LKP Securities

On the daily chart, a small-bodied green candle with a significant lower wick is visible. On the higher end, Nifty recovered about 80 percent of the previous fall and paused before any further movement.

Going forward, the index may remain sideways to negative as long as the index sustains below 17,635. On the lower end support is visible at 17,330.

Ajit Mishra, VP - Research, Religare Broking Ltd

Markets extended rebound for the third successive session and gained over half a percent. Supportive global cues led to a firm start and the dovish stance from the RBI further aided sentiment. Consequently, the Nifty index closed around 17,605; up by 0.8%. All the sectoral indices ended in the green wherein metal, banking and realty were among the top gainers. Amid all, the broader markets underperformed but ended with gains of 0.4% and 0.2%.

With monetary policy meet behind us, the focus would shift back to earnings as we head into the last leg. Besides, global cues will also remain on participants’ radars. In the prevailing consolidation phase, we reiterate our cautious stance and suggest focusing more on risk management.

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