Indian stock market benchmarks, the Nifty 50 and Sensex, are expected to open higher today, February 9, 2026, mirroring positive cues from global markets.

Global and Domestic Cues

The Gift Nifty was trading around 25,926, indicating a gap-up opening for the Indian benchmark index with a premium of nearly 191 points from Nifty futures' previous close.

Last Friday, the Sensex closed at 83,580.40, a gain of 266.47 points or 0.32%, while the Nifty 50 settled at 25,693.70, up 50.90 points or 0.20%.

Market Analysis and Predictions

Last week, the Sensex gained 1.59% and formed a bullish candle, but with an upper shadow, suggesting intermittent profit-booking at higher levels. Immediate support for the Sensex is in the 82,900 – 83,100 zone. Regaining the 84,000 – 84,200 resistance zone is essential for a complete trend reversal. The 84,000 mark continues to host a high concentration of Call Open Interest (OI), acting as a major psychological and technical barrier for the bulls.

According to Ponmudi R, CEO of Enrich Money, the Sensex is holding above its 50-day EMA at 83,576 and 100-day EMA at 83,395. Immediate support is placed at 83,000 – 83,300, with a stronger support zone lying at 82,500 – 82,800. Resistance is visible near 84,000– 84,500, representing prior highs. He anticipates that large-cap heavyweights will continue to attract long-term interest, and near-term momentum favors gradual upside unless global headwinds intensify significantly.

Option Matrix India anticipates a sideways-to-positive bias, defining clear support and resistance levels for Nifty, Bank Nifty, and Sensex. They advise traders to be prepared for range trading, with breakouts above Friday's intraday highs or breakdowns below Friday's lows acting as confirmation points for directional moves.

For Monday, February 9, 2026, Nifty is expected to trade within a range of 25,450 – 25,850, maintaining a neutral-to-bullish bias as long as it holds above 25,500. A sustained move below 25,500 could lead to a decline towards 25,350 and potentially 25,200, where buyers might step in.

Key Factors to Watch

• RBI's Policy Decision: The markets will continue to digest the Reserve Bank of India's (RBI) decision to maintain the repo rate at 5.25 percent with a neutral policy stance.
• Global Cues: Investors should monitor global developments and position themselves ahead of key US macro cues.
• Earnings: The market is in the final stretch of Q3 earnings season. Companies like Titan, Mahindra & Mahindra, Ashok Leyland, ONGC, Bajaj Electricals, and Eicher Motors are scheduled to release their Q3 results this week, which could trigger stock-specific movements.
• India-US Trade Deal: The recently announced trade deal between India and the US, where the US will cut tariffs on Indian goods from 50 per cent to 18 per cent in exchange for India reducing or removing import duties on US industrial goods and various food products, is also expected to influence market sentiment.
• Inflation and Forex Data: Investors will closely monitor retail inflation data due on February 12 and foreign exchange reserves data on February 13 for insights into price trends and external sector stability.
• FII Flows: Foreign Institutional Investor (FII) flows will be a key factor.

Overall Sentiment

Overall sentiment remains cautiously optimistic, with markets expected to be event-driven in the near term, closely tracking global cues, capital flows, and geopolitical developments. Strong domestic liquidity support and technical strength at lower levels could help the markets sustain gains, though near-term volatility may persist.