World stocks climb, Nikkei soars on Japan PM Takaichi's big poll win

by Hansraj Agrawal | Feb 9, 2026 | Share Market

World shares advanced, and Tokyo’s Nikkei 225 share index jumped as much as 5 per cent to a record on Monday after Japanese Prime Minister Sanae Takaichi’s governing party secured a two-thirds supermajority in a parliamentary election.

In early European trading, Germany’s DAX gained 0.6 per cent to 24,864.59, while the CAC 40 in Paris edged 0.2 per cent higher, to 8,288.06. Britain’s FTSE 100 was up 0.3 per cent at 10,399.61.

US futures edged higher after the US stock market roared back on Friday as technology stocks recovered much of their losses from earlier in the week and bitcoin halted its plunge. The future for the S&P 500 added 0.1 per cent, while that for the Dow Jones Industrial Average was up 0.2 per cent.

On Friday, the S&P 500 rallied 2 per cent for its best day since May. The Dow industrials soared 2.5 per cent, topping the 50,000 level for the first time. The Nasdaq composite leapt 2.2 per cent.

The combination of a rebound in tech shares, Wall Street’s rally and other upbeat news lifted shares early Monday.

In Tokyo, the Nikkei 225 closed 3.9 per cent higher at 56,363.94. Earlier in the day, the benchmark hit a new intraday record of 57,337.07.

The dollar weakened slightly against the Japanese yen, trading at 156.71 yen, down from 157.10 yen late Friday.

The landslide election victory gives Takaichi a much stronger mandate to pursue market-friendly policies.

NHK, citing results of vote counts, said Takaichi’s Liberal Democratic Party, or LDP, alone secured 316 seats by early Monday, comfortably surpassing a 261-seat absolute majority in the 465-member lower house, the more powerful of Japan’s two-chamber parliament. That marks a record since the party’s foundation in 1955 and surpasses the previous record of 300 seats won in 1986 by late Prime Minister Yasuhiro Nakasone.

“So overall, as the LDP has gone from a very weak government that really couldn’t do anything to an extremely strong government now with the supermajority of the lower house, they really could call the shots,” said Neil Newman, managing director and head of strategy at Astris Advisory Japan.

Takaichi’s first major task when the lower house reconvenes in mid-February is to work on a budget bill, delayed by the election, to fund economic measures to address rising costs and sluggish wages.

“Japan just delivered the kind of election result markets instinctively embrace because it removes the one thing traders price at a premium: political ambiguity,” Stephen Innes of SPI Asset Management said in a commentary.

“Politically, the win hands Prime Minister Takaichi freedom of movement and removes the need to bargain every decision down to the lowest common denominator,” he said.

Other markets across Asia also rallied.

In Seoul, the Kospi gained 4.1 per cent, to 5,298.04, buoyed by strong buying of tech shares.

Hong Kong’s Hang Seng index climbed 1.8 per cent to 27,027.16, and the Shanghai Composite index rose 1.4 per cent to 4,123.09. Taiwan’s Taiex gained 2 per cent.

In Australia, the S&P/ASX 200 surged 1.9 per cent to 8,870.10.

Gains for computer chip companies helped drive Wall Street’s widespread rally on Friday. NVIDIA jumped 7.8 per cent, and Broadcom climbed 7.1 per cent.

The S&P 500 still fell to its third losing week in the last four. Apart from worries about spending by Big Tech companies, which are Wall Street’s most influential stocks, concerns about AI potentially stealing customers from software companies also hurt the market. Software stocks were hit particularly hard after AI firm Anthropic released free tools to automate things like legal services.

In other dealings early Monday, bitcoin gained 1 per cent to trade just below USD 70,000. A weeklong plunge sent it to close to USD 60,000 late Thursday, more than halfway below its record price set in October.

Prices in the metals market have calmed a bit following their own wild swings. Gold rose 1.4 per cent to USD 5048.90 per ounce, while silver added 6.2 per cent to USD 81.64.

US benchmark crude oil shed 60 cents to USD 62.95 per barrel. Brent crude, the international standard, gave up 60 cents to USD 67.45 per barrel.

The euro rose to USD 1.1866 from USD 1.1814.

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Sterlite Technologies zooms 66% in 10 days, stock hits 18-month high

by Hansraj Agrawal | Feb 9, 2026 | Share Market

Sterlite Technologies (STL) share price today hit an 18-month high of ₹143.6 per share, as it surged 8 per cent on the BSE in Monday’s intra-day trade. The stock price of the company engaged in the telecom equipment and accessories business is quoting at its highest level since August 2025.

In the past 10 trading days, the market price of STLs has zoomed 66 per cent from the level of ₹86.35 on January 27, 2026.

At 2:04 PM, the stock was quoting 7 per cent higher at ₹141.20, as compared to a 0.51 per cent gain in the BSE Sensex.

What’s driving Sterlite Technologies’ share price?

STL is a global leader in advanced connectivity solutions, providing end-to-end solutions for building AI-ready infrastructure, FTTx, rural, enterprise, and data centre networks. Year-to-date (Y-T-D) of FY26, STL has recorded ₹4,263 crore in orders, a strong 40.3 per cent growth over last year.

The board of directors of the STL, at their meeting held on Saturday, February 7, 2026, has approved the allotment to Twin Star Overseas, the promoter of the company, of up to 45.3 million warrants, at a price of ₹110 per warrant aggregating up to ₹ 498.3 crore by way of preferential issue on a private placement basis.

Each warrant will be convertible into, or exchangeable for 1 fully paid-up equity share of the company of face value of ₹2, which may be exercised in one or more tranches during a period of 18 months commencing from the date of allotment of the warrants, the company said.

Meanwhile, on January 22, 2026, STL, a leading connectivity solutions provider for AI-ready digital infrastructure, announced the successful collaboration with Colt Technology Services (Colt) for the Multi-Core Fibre (MCF) trials executed across Colt’s London metro optical network in London, UK.

This marks a significant milestone in real-world validation of MCF technology as a sustainable, high-capacity, cost-efficient backbone for next-generation networks supporting AI, cloud, and digital services, the company said.

Meanwhile, STL is at the intersection of three powerful multiyear investment cycles: FTTx, data centers, and 5G, creating a strong structural tailwind of optical infrastructure.

FTTx is accelerating globally, with deployments rising from 151 million fiber kilometers to 170 million fiber kilometers by 2030. In the US alone, over 100 million homes will be served by fiber by 2030, supported by large government programs like BEAD and BharatNet in India, STL said in its Q3 earnings conference call.

Data centers are the fastest-growing driver of fiber demand. CRU projects global DCled demand to grow at a 76 per cent compound annual growth rate (CAGR) from 2025, with hyperscalers driving long-haul and inter-data centre connectivity. Global DC capex is expected to approach almost $600 billion by 2027. 5G is also scaling rapidly, with 6.3 billion subscriptions expected by 2030, carrying 80 per cent of all mobile data traffic.

This requires a massive amount of fiber backhaul, fronthaul, and network densification. Together, these three cycles are creating a structural multiyear demand tailwind for fiber and connectivity, positioning STL at the center of the next global digital infrastructure buildout, the company said.

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Bitcoin stabilises above $70,000 after last week's roller-coaster ride

by Hansraj Agrawal | Feb 9, 2026 | Share Market

By Suvashree Ghosh and Matthew Brockett

Bitcoin stabilised above $70,000 on Monday following a roller-coaster ride at the end of last week.

The original cryptocurrency was holding around $70,500 at 6:50 a.m. in London, almost unchanged from its open. The relative calm was in stark contrast to last week’s wild swings that saw Bitcoin on Thursday plunge to $60,033, its lowest since October 2024, before rallying back above $70,000 on Friday.

Traders remain on edge.

“Crypto markets have stabilised” but “the market is still uncertain that the worst is over,” said Caroline Mauron, co-founder of Orbit Markets. “$60,000 is the main support on the downside. A break through $75,000 on the upside may signal the end of the bear market.”

Last week’s selloff saw Bitcoin volatility surge. The Bitcoin Volmex Implied Volatility Index jumped above 97 per cent in the largest intraday increase since the collapse of Sam Bankman-Fried’s FTX in 2022.

Extreme volatility is nothing new to cryptocurrencies, but Bitcoin’s slump from a peak of $126,000 in October last year comes despite the backdrop of a crypto-friendly White House and surging institutional adoption. Its failure to act as a safe haven during a period of heightened geopolitical uncertainty has raised doubts that it functions as a kind of “digital gold.”

Still, in a tentative sign of returning optimism, US Bitcoin exchange-traded funds recorded inflows of $221 million on Feb. 6 as investors sought to buy the dip following the market’s dizzying selloff.

“The mood in the crypto market today can best be described as guardedly constructive,” said Sean McNulty, APAC derivatives trading lead at FalconX. “Sentiment at the moment is not overly bearish,” he said, adding the turbulence last week has “purged speculative froth” and left the market “trading on stronger fundamentals.”

Provided Bitcoin remains above its 200-week moving average of $58,000, which it bounced ahead of on Friday, “there is scope for the rebound to extend towards initial resistance at $73,000 to $75,000,” said Tony Sycamore, a market analyst at IG Australia.

“A move above this level would open the way for the rebound to extend toward $81,000,” he said.

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Vodafone Idea shares rise 4% as KM Birla buys shares, Emkay doubles target

by Hansraj Agrawal | Feb 9, 2026 | Share Market

Vodafone Idea share price today

.Vodafone Idea (Vi) share price gained 4 per cent to ₹11.62 on the BSE in Monday’s intraday trade, amid heavy volumes, after promoter Kumar Mangalam Birla bought additional 40.9 million equity shares of the company via open market.

At 11:49 AM, Vi stock was quoting 3.8 per cent higher at ₹11.55, as compared to 0.53 per cent rise in the BSE Sensex. Nearly 380 million equity shares have together changed hands on the NSE and BSE so far in the session. The stock price of the telecom services provider had hit a 52-week high of ₹12.80 on December 31, 2025.

Kumar Mangalam Birla buys 40.9 million shares of Vi via open market

According to stock exchange disclosure made by Vi, the company’s promoter Kumar Mangalam Birla bought a total of 40.9 million shares, representing 0.04 per cent stake in the company, for ₹45.18 crore between January 30 and February 1 from open market.

Kumar Mangalam Birla purchased 22.1 million shares on January 30 at an average price of ₹10.95 per share, and another 18.8 million shares on February 1 at ₹11.13 per share. CLICK HERE FOR MORE DETAILS

As of December 31, 2025, Kumar Mangalam Birla held 19.46 million shares, or 0.02 per cent stake in Vi. Total promoters holding, meanwhile, stood at 25.57 per cent in Vi at that time, shareholding pattern data shows.

CARE Ratings on Vi

CARE Ratings (CareEdge Ratings) has revised its outlook on ‘long-term bank facilities’ of Vi from “Stable” to “Positive” while re-affirming its rating at ‘CARE BBB-‘.

The revision in ratings follows the announcement on adjusted gross revenue (AGR) relief by Department of Telecommunication (DoT), which strengthens VIL’s long-term debt tie-up prospects in accelerating network capex investments, thus enabling improvement in its operating performance.
Government of India’s decision, the rating agency said, to defer payment of AGR dues by an additional 10 years, without interest accrual on the frozen amount of ₹87,695 crore, has eased near-term liquidity pressure.

“The previous regulatory support measures encompassing the conversion of spectrum dues aggregating ₹36,950 crore into equity in March 2025, combined with the recent AGR relief, underscore the strategic importance of the telecom sector and Vi, in particular, for GoI and the philosophy of promoting healthy competition. Post conversion of spectrum dues, GoI holds a 49 per cent stake in Vi as on December 31, 2025, while operational control continues to rest with promoters- Vodafone Group Plc (VGP) and Aditya Birla Group (ABG),” it said.

With improved funding visibility, CARE Ratings added, Vi plans to undertake capex investments, with total outlay of ~₹45,000 crore over FY27-FY29. Timely scaling up of the capex programme remains critical for improving network competitiveness, growing subscriber base, and supporting average revenue per user (Arpu) expansion.
Going forward, achieving envisaged growth in subscriber base on sustained basis is a key rating sensitivity, the rating agency said in its rationale.

Vi’s blended Arpu (average revenue per user) reportedly expanded from ₹164 in FY25 to ₹172 in Q3FY26 led by plan upgrades besides improvement in the subscriber base mix. The Indian telecom sector is likely to witness another tariff hike in FY27, which with better subscriber mix and robust demand outlook is expected to contribute to substantial improvement in ARPU of all players, including Vi. Going forward, sustained improvement in subscriber trends, ARPU, and consequent profit before interest, depreciation, lease rentals and tax (PBILDT) constitute key rating monitorable, CareEdge Ratings said.
Meanwhile, domestic brokerage Emkay Global Financial Services has upgraded Vi stock to ‘Add’ from ‘Sell’ and has doubled its share price target to ₹12 from ₹6 as it believes the government’s decision to provide a major moratorium for Vi’s AGR liabilities, with minimal annual payments until FY35, will provide significant cash flow relief and a turnaround opportunity.
“The relief reduces the net present value (NPV) of the burden by 60-80 per cent, easing immediate survival pressure, along with the possibility of further reduction on reassessment of AGR dues. This will enable Vi to access bank funding for 4G/5G expansion, helping the company arrest subscriber churn and market-share loss. We raise our target to ₹12 (from ₹6),” it said in a report.

Continued migration to data, rising usage, and tariff repair provide scope for Arpu-led Ebitda expansion even without aggressive subscriber additions, Emkay Global said. Factoring in these changes, the brokerage has raised its FY27/FY28 revenue estimates by 5 per cent/4.9 per cent and Ebitda estimates by 5.4 per cent/4.2 per cent.

“While the long-term sustainability of the company is no more a concern, we believe that Vi will have to execute well to gain subscriber market share and migrate the subscriber base from 2G to 4G/5G,” it said, valuing the stock at 12.5x/11.5x FY27/FY28 EV/Ebitda.

Inability to increase subscriber market share; significantly increase Arpu with tariff repair, and upgrade the subscriber base from 2G to 4G/5G will remain key risks/monitorales for the Vodafone Idea, it added.

==================================== Disclaimer: View and outlook shared on the stock belong to the respective brokerages and are not endorsed by Business Standard. Readers discretion is advised.

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Axiscades Technologies hit 5% upper circuit as arm wins ₹80-crore order

by Hansraj Agrawal | Feb 9, 2026 | Share Market

Axiscades Technologies shares hit a 5 per cent upper circuit on the BSE at ₹1,178.4 per share. The buying on the counter came after the company announced a new win in the defence division by its subsidiary Mistral Solutions.

At 11:25 AM, Axiscades Technologies’ share price was locked in the 5 per cent upper band on BSE. In comparison, BSE Sensex was up 0.59 per cent at 84,073.4.

Axiscades Technologies announced that its subsidiary Mistral Solutions has received an order worth about ₹80 crore under Hindustan Aeronautics Ltd’s (HAL) LCA Mk1A programme, in a move the company said supports the push for indigenisation of avionics systems.

In an exchange filing, Axiscades said Mistral will supply electronic hardware for critical subsystems, including the Mission Computer and Smart Multifunction Display for the programme. The company added that the systems will be manufactured and delivered from AXISCADES’ newly commissioned DAL (Devanahalli Atmanirbhar Complex) facility at the Bangalore Aerospace Park, near Kempegowda International Airport.

“This programme win reflects the Axiscades Group’s continued commitment to defence indigenisation and the ‘Make in India’ initiative,” C. Manikandan, CEO, Mistral Solutions, said in the release, adding that the win positions the group for participation in upcoming defence programmes.

Axiscades is a leading, end-to-end technology, product, and solutions provider aiding the creation of innovative, sustainable, and safer products worldwide in the Aerospace, Defence and ESAI domains. Headquartered in Bangalore with subsidiaries and offices worldwide, in France, Germany, Denmark, the USA, and Canada. The company has a diverse team of over 3,000 professionals working across 17 locations across globe, striving to reduce the program risk and time to market, according to the filing.

The company has long term relationship with the defence forces, the MoD, defence labs and PSUs along with global OEMs. Axiscades possesses deep domain experience in Weapon Systems, Avionics, Radar, Electronic Warfare, C4I2, Drones, Anti-Drone Systems, Test Solutions, GSE, and GHE. The company has executed several innovative in-house projects and partnered solutions for Land, Naval, Aerospace, and Homeland Security.

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India-US trade deal: Brokerages decode key risks, market implications

by Hansraj Agrawal | Feb 9, 2026 | Share Market

India and the US and India released a joint statement last week announcing a framework for an Interim Trade Agreement (ITA), which will be negotiated as the first step toward a broader Bilateral Trade Agreement (BTA).

As per reports, the US will apply an 18 per cent reciprocal tariff on Indian products such as textiles and apparel, leather and footwear, plastics and rubber, organic chemicals, home decor, artisanal products and certain machinery, and outline the potential removal of reciprocal tariffs on a wider set of products.

That apart, the 25 per cent Russian oil-related duty on Indian imports will be removed, contingent on India ceasing its Russian oil imports and committing to US energy purchases, with a monitoring mechanism in place to ensure compliance.

Here’s how leading brokerages have interpreted the fine print.

Goldman Sachs

The pressure on the rupee has eased post the development, but we see limited room for it to run from current levels as any pick up in portfolio inflows on the conclusion of the India-US trade deal, is likely to be met with a gradual unwind of the short forward book, and further build-up of FX reserves by the Reserve Bank of India (RBI). On rates, we maintain our view that the policy rate easing cycle has concluded in India, and the RBI will keep the policy repo rate unchanged in CY26 at 5.25 per cent as downside risks to growth have receded.

Bernstein

The shift of Russian crude to US/Venezuela does bring costs, especially when discounts on Russian crude have started rising again and the distance will also increase now, but we believe the benefits far outweigh these costs as India gets a 25 per cent relief on most goods immediately. The diplomacy part of it including India’s relationship with Russia need another lens to look into.

Immediate economic benefits are not that large—and this was also the case when tariffs were high; the economic impact was not that high. The fine print needs to be seen to determine if any major area is missed out. We remain Neutral on India with a 28,100 Nifty target, and our near-term short-term rally argument is for the Nifty moving until 26,500, closer to where we started the year.

JM Financial

Despite improved clarity, the US Executive Order explicitly allows for re-imposition of duties should India resume Russian oil imports. Historical precedent, including the US–Korea FTA, highlights the risk of later sector-specific safeguards and reinterpretations. Trade policy under the current US administration remains closely intertwined with geopolitical considerations.

Geojit Investments

It is important to understand that India has a $41 billion export surplus in trade with the US. This may come down as India imports more energy, defense and aviation-related goods and high technology stuff from the US. The exclusion of cereals, dairy, and poultry safeguard the interests of India’s farmers’ interests.

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