NIFTY50 and SENSEX open 0.6% higher after India-US trade deal; SBI top gainer after strong quarterly results

Indian equity markets made a gap-up start on Monday, tracking strong cues from global markets on Monday. The NIFTY50 opened nearly 200 points higher at 25,888, and the SENSEX crossed the 84,000 level by gaining nearly 600 points on Monday morning at 9:15 amr.

At the sectoral level, the NIFTY PSU Bank index jumped 2.45% as the top gainer for Monday morning after the country’s largest public sector bank, State Bank of India, jumped 5% on strong quarterly earnings release over the weekend. The SBI share price traded at ₹1,120 apiece, at fresh record high levels on Monday morning.

Investors' sentiment was bolstered as India reached for an interim trade agreement with the US. The US said that India has committed to stop directly or indirectly importing Russian oil, following which the additional 25% tariffs imposed by America on Indian goods will be removed from February 7, 2026.

Among the NIFTY50 constituents, State Bank of India (+4.3%), Kotak Mahindra Bank (+2.2%), HCL Technologies (+1.5%), Adani Enterprises (+1.3%), and Tata Steel, (+1.9%) were the top five gainers at the opening. On the flipside, Max Healthcare (-1.2%), Eicher Motors (-0.59%), Bajaj Finance (-0.3%), Hindustan Unilever (-0.3%) were among the top losers in the NIFTY50 on Monday morning at 9:20 am.

Investors also took a note of FII buying back into the Indian equities. After three consecutive months of heavy selling, foreign portfolio investors (FPIs) turned net buyers in the first week of February, infusing more than ₹8,100 crore in Indian equities, aided by improving risk sentiment, along with a trade deal with the US.

Apart from that, the Commerce and Industry Minister Piyush Goyal said that Indian goods will have a competitive advantage in US markets compared to products from China and other competitor countries, which face higher levies, following the reduction in reciprocal tariffs to 18%. Following the finalisation of trade agreement with the US, shares of Textile makers like KPR Mills, Gokaldas Exports, Rajesh Exports jumped up to 5% on Monday morning.

Shares of Marine product companies like Avanti Feeds and Apex Frozen Foods also jumped 5.1% and 6.4% respectively on Monday morning.