Indian benchmark indices extended their winning streak on Monday, February 9, 2026, as a second day of broad-based buying propelled markets to new heights. Investor sentiment was significantly bolstered by a landmark interim trade agreement between India and the United States, which saw a reduction in reciprocal tariffs to 18%. The Nifty 50 surged 176 points, or 0.70%, to close at the 25,870 level. Simultaneously, the S&P BSE Sensex climbed 485 points, finishing 0.60% higher at 84,072. The broader market outperformed the benchmarks, with the Nifty Midcap 100 gaining 1.60% and the Smallcap 100 rallying a substantial 2.64%. Financials led the charge, with State Bank of India (SBI) hitting a record high of ₹1,139.70 after jumping nearly 7%. The banking behemoth reported an all-time high standalone net profit of ₹21,028 crore for the December quarter, a 24.5% year-on-year increase. This performance drove the Nifty Bank index up by 0.88% to cross the 60,650 mark. Shipping Corporation of India (SCI) witnessed its best single-day performance in nearly four years, with the stock price skyrocketing 19% to reach intraday highs of ₹256.50. The rally followed a massive five-fold jump in Q3 net profit to ₹405 crore and the announcement of a ₹10 per share interim dividend. Kalyan Jewellers also emerged as a top gainer, with its shares surging over 12% to touch ₹424.70. The retailer reported a 90% surge in consolidated net profit to ₹416 crore, driven by a 42% rise in revenue which crossed ₹10,340 crore. Strong wedding season demand and 27% same-store sales growth in India fueled the optimism. Market dynamics showed a structural shift as domestic institutional investors (DIIs) officially surpassed foreign institutional investors (FIIs) in Nifty 50 ownership for the first time. DII holdings rose to 24.8%, highlighting the deepening domestic capital base amidst easing geopolitical tensions and a cooling in crude oil prices to approximately $67 per barrel.