Indian Stock Market Opens Higher on Earnings Boost and Foreign Inflows
The Indian stock market commenced Wednesday's trading session on a positive trajectory, with benchmark indices registering modest gains. This upward movement was primarily fueled by robust quarterly earnings from key players like Titan Company and Apollo Hospitals, coupled with a resurgence in foreign portfolio investments. The overall sentiment among investors remained buoyant, reflecting confidence in the domestic economic landscape.
Market Performance at Opening Bell
As of 9:18 AM Indian Standard Time, the Nifty 50 index advanced by 0.24 percent to reach 25,997.45 points. Simultaneously, the BSE Sensex climbed 0.2 percent, settling at 84,445.67 points. The market breadth was overwhelmingly positive, with fifteen out of the sixteen major sectoral indices trading in the green. Broader market indices also participated in the rally, with the small-cap index rising by 0.2 percent and the mid-cap index gaining 0.1 percent.
Over the preceding three trading sessions, both the Nifty 50 and Sensex have appreciated by approximately 1.2 percent. This sustained upward momentum has been largely attributed to optimistic developments surrounding the US-India trade agreement, which has bolstered investor confidence in the macroeconomic outlook.
Expert Market Outlook and Technical Analysis
Jay Thakkar, Vice President and Head of Derivatives and Quant Research at ICICI Securities, provided a detailed technical perspective on the market. He noted that the Nifty 50 concluded the previous session positively, with the weekly expiry comfortably above the 25,900 mark. According to Thakkar, the immediate resistance level for the index is at 26,000, which holds the highest concentration of call options, making it a critical hurdle. On the downside, 25,500 serves as a crucial support level, representing the recent low. As long as this support holds, the overall trend is expected to remain positive.
Thakkar emphasized that a breakout above 26,000 could potentially propel the Nifty 50 towards 26,200 and 26,400 levels. The Put-Call Ratio (PCR) for the next series stands at 1.03, indicating a bullish bias, while the index trading above its maximum pain level provides additional short-term support. The India VIX, a measure of market volatility, has moderated from recent highs and is anticipated to fluctuate within a range of 11 to 15. Sector-wise, all segments except Nifty IT are exhibiting positive momentum, driven by either long build-up or short covering activities.
Foreign Institutional Investors (FIIs) have significantly reduced their index short positions from over 200,000 contracts to less than 150,000 contracts, a development viewed favorably by market participants. Furthermore, FIIs have reported net positive inflows in the equity cash segment. Thakkar concluded that the short-term outlook for the index remains optimistic, with potential targets of 26,200 to 26,400, provided the 25,500 support level is maintained.
Recommended Stocks for Near-Term Investment
Jay Thakkar of ICICI Securities has identified three stocks with promising near-term prospects:
- Colgate Palmolive (India) Futures: Thakkar recommends purchasing Colgate Palmolive futures in the price range of ₹2,200 to ₹2,170, with a stop loss set below ₹2,100. The target prices are ₹2,300 and ₹2,360. The stock has formed a falling wedge pattern and witnessed short covering, both indicative of positive near-term momentum. It appears to have established a solid base between ₹2,000 and ₹2,100 levels. Options data reveals that the ₹2,200 strike holds the highest call base, suggesting potential call unwinding above this level, which could drive further upside. The stock has also closed above its maximum pain level of ₹2,160, indicating underlying support.
- Indus Towers Futures: Investors are advised to buy Indus Towers futures between ₹458 and ₹460, with a stop loss below ₹449. The target prices are ₹475 and ₹485. The stock has broken out from a symmetrical triangular pattern, accompanied by a decrease in open interest in the futures segment, signaling gradual upward momentum. Significant put additions at ₹440 and ₹430 strikes, along with call unwinding at ₹450 and ₹455 strikes, enhance the likelihood of further appreciation. As long as the ₹449 level holds, the short-term trend remains positive, with the stock trading well above its maximum pain level of ₹445.
- BSE Futures: Thakkar suggests acquiring BSE futures in the range of ₹3,140 to ₹3,180, with a stop loss below ₹3,060. The target prices are ₹3,260 and ₹3,320. The stock has experienced a substantial breakout from a sideways consolidation phase following its results, accompanied by significant short covering. This breakout is expected to attract long additions as the stock approaches its lifetime high, supported by strong momentum. Notable call unwinding and put additions have elevated the PCR to 0.95, a positive near-term indicator. The stock has closed decisively above its maximum pain level of ₹3,000, reinforcing support at lower levels.
Disclaimer: The Research Analyst or his relatives or ICICI Securities do not have actual or beneficial ownership of 1 percent or more securities of the subject companies as of February 10, 2026, nor do they have any other financial interest or material conflict of interest. The views and recommendations presented in this analysis are those of individual analysts or broking firms and not of the publication. Investors are strongly advised to consult certified experts before making any investment decisions, as market conditions are subject to rapid changes and individual circumstances may vary.
