Markets Daily India

India’s Earnings Are Under the Lens as US Trade Deal Redraws Winners and Losers

Footwear, apparel, jewelry, aerospace and auto parts firms seen as key beneficiaries of lower tariffs.

Workers at a garment factory in New Delhi. Photographer: Anindito Mukherjee/Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Ashutosh Joshi and Chiranjivi Chakraborty

February 9, 2026 at 2:45 AM UTC

This article is for subscribers only.

Good morning...

I’m Ashutosh Joshi with key news and analysis to start the trading week.

A surge in Japanese stocks following a historic election victory for Prime Minister Sanae Takaichi and the rebound in US equities on Friday has helped Asian equities start the new week on the front foot. At home, details of the India–US trade deal became clearer over the weekend, removing one layer of uncertainty that had been hurting the market. While trade agreements with the US and Europe have lifted sentiment, stock watchers say a recovery in earnings holds the key to a sustainable rebound. We bring you more on these in this newsletter. Meanwhile, shares of State Bank of India will be in focus after the lender raised its outlook for credit growth on Saturday, pointing to a broader lift to the economy from the trade deals.

In today’s newsletter, we cover: