NIFTY50, SENSEX today: Wall Street cues, FII activity, key things to know before markets open on February 10

The Indian equity benchmarks are set to stage higher on Tuesday, February 10, as indicated by GIFT NIFTY futures. NIFTY futures at GIFT City in Ahmedabad surged 87 points or 0.34% to 25,995 amid strong cues from global markets.

The Indian equity benchmarks ended higher for a second straight session on Monday, February 9, led by gains in index heavyweights like State Bank of India, Reliance Industries, Titan, Larsen & Toubro, Kotak Mahindra Bank and Eternal. The SENSEX advanced as much as 734 points and NIFTY50 index touched an intraday high of 25,922.25.

The SENSEX ended 485 points higher at 84,066 and NIFTY50 index climbed 174 points to close at 25,867.

Asian markets

Asian shares extended their winning run to a second straight session on Tuesday supported by overnight gains on the Wall Street.

Hong Kong's Hang Seng advanced 1.3%, Japan' Nikkei surged 2.62%, South Korea's KOSPI gained 0.5%, China's Shanghai Composite rose 0.2% and Taiwan's index climbed 1.67%.

Wall Street update

Most of the US benchmark indices ended higher on Monday as technology stocks stabilised after last week's selloff which was triggered concerns over rising spending on AI.

The Dow Jones Industrial Average ended at a record high for second straight session albeit with a small gain and the S&P 500 closed shy of its record close.

The Dow Jones Industrial Average rose 0.04% to close at 50,135.87, S&P %00 advanced 0.47% to end at 6,964.79 and tech heavy Nasdaq gained 0.9% to settle at 23,238.67.

FII/DII activity

Foreign institutional investors bought shares worth ₹2,255 crore on Monday while domestic institutional investors bought shares worth ₹4.15 crore, data from the National Stock Exchange showed.

The FIIs have so far this month bought shares worth ₹11,641 crore, according to the data from National Securities Depository Limited (NSDL).

Stocks to watch

The exchange posted a profit of ₹220 crore in the corresponding period of the last fiscal year.

Total revenue for the quarter under review stood at an all-time high of ₹1,334 crore, up 61% from ₹829 crore a year earlier, BSE said in a statement.

This also marks the exchange's 11th consecutive record performance.

The company delivered a standalone PAT of ₹98.17 crore in the third quarter of FY25, as per a statement.

Revenue from operations for the quarter rose 10.28% to ₹999.92 crore from ₹904.88 crore in the October-December period of the previous fiscal year.

At the same time, earnings before interest, taxes, depreciation and amortisation (EBITDA) was ₹130.27 crore during the quarter under review as compared to ₹122.20 crore a year ago, registering a growth of 6.60%, Gulf Oil Lubricants said.

It registered a net profit of ₹81 crore in the October-December period of the preceding 2024-25 financial year, the company said in an exchange filing.

The company's revenues also fell to ₹1,201 crore in the latest third quarter from ₹1,470 crore a year ago, posting a year-on-year fall of over 18%.

It had posted a net profit of ₹58.7 crore in the previous October-December a year ago, according to a regulatory filing from Bata India.

Bata's revenue from operations was up 2.81% to ₹944.68 crore during the quarter under review compared to ₹918.79 crore in the corresponding quarter a year ago.

In a regulatory filing, the company announced a joint venture with Mitsui FudosanGroup for the development of 'Mahindra Blossom', a residential project located in Whitefield, Bengaluru.

This marks the first project under this strategic partnership. The project will have around 730 homes.

The Hyderabad-based drug major reported a net profit of ₹846 crore for the October-December period of the last fiscal year.

Total revenue from operations increased to ₹8,646 crore during the quarter as compared with ₹7,979 crore in the year-ago period, the drug firm said in a statement.

The company posted a net profit of ₹87.41 crore in the corresponding quarter last fiscal year, Jyothy Labs Ltd said in a regulatory filing.

Revenue from operations during the quarter stood at ₹739.61 crore as against ₹703.71 crore in the year-ago period, it added.

The two firms have bought 2 million barrels of Merey crude from Trafigura for delivery in the second half of April, sources said. 1.5 million barrels of oil will be delivered to IOC's Paradip refinery in Odisha and rest 500,000 barrels to HPCL's Visakhapatnam unit in Andhra Pradesh.

This is the second deal for Venezuelan crude after Reliance Industries bought 2 million barrels of Venezuelan oil for April delivery from Vitol.

Expiry day trade setup

On the technical front, the NIFTY50 posted a bullish hammer candlestick pattern on Monday, with a long wick after moving volatility in the intraday session. The chart also shows a potential positive crossover of 20 EMA crossing 50 EMA from below, indicating renewed bullish momentum in the index. In the near term, the 50 EMA level of 25,658 remains a crucial support. On the other hand, 26,000 remains a crucial resistance zone for the NIFTY50.

On the options data front, the 26,000 calls hold the highest open interest, indicating a strong resistance for today’s expiry. On the flipside, the 25,800 puts hold the highest open interest, indicating a strong support for today’s expiry.