Bajaj Broking Closing Market Commentary for 09th February 2026

Indian equity benchmarks ended higher on February 9, with the Nifty closing comfortably above the 25,850 mark. The index opened on a positive note but gave up most of its early gains soon after, before trading in a tight range for the remainder of the session. Market sentiment stayed risk-on, supported by encouraging signals from the trade deal and renewed FII inflows, even as investors tracked developments from the ongoing earnings season.

At the close, the Sensex gained 485.35 points, or 0.58%, to finish at 84,065.75, while the Nifty advanced 173.60 points, or 0.68%, to 25,867.30. The broader market outperformed, with the Nifty Midcap index rising 1.58% and the small-cap index climbing 2.64%. All sectors ended higher, led by 1-3% gains in media, consumer durables, realty, PSU banks, pharma, healthcare and metals. PSU banks outperformed on strong results, while consumer durables and realty saw buying on demand revival hopes.

Nifty Outlook

The index formed a high wave candle with a higher high and a higher low and a bullish gap below its base (25703- 25780) signaling continuation of the positive momentum. Bias remains positive and a follow through strength above Monday's high 25922 will open further upside towards 26,100 and 26,300 levels in the coming sessions. Any near-term correction from current levels is likely to offer a buy-on-dips opportunity with immediate support placed at 25,500-25,400 levels being the confluence of the last week's breakout area and the 20-day EMA. Volatility is likely to stay at an elevated level on account of volatile global cues. Strong support is seen in the 25,000-25,200 range, aligned with the 52-week EMA and the 80% retracement of the ongoing up-move.

Bank Nifty Outlook

Bank Nifty formed a high wave candle with a bullish gap below its base (60149-60495) signaling consolidation with positive bias after a strong opening. Index in the process formed a fresh all time high on a closing basis. Index is expected to maintain positive bias and head towards 61,200 and 61,800 levels in the coming sessions. It has immediate support at 59500-59200 levels being the confluence of the 20- and 50-days EMA. Volatility is likely to remain elevated amid uncertain global cues. Key short-term support is placed in the 58,500-58,000 zone being the confluence of the 100 days EMA and the bullish gap area of last Tuesday.

Source : Equity Bulls

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