BSE 200

Among the broader market indices, smallcaps underperformed midcaps and the main indices amid heightened volatility, driven by geopolitical tensions, rising crude oil prices, and sustained selling by FIIs.

Among the broader indices, the BSE Smallcap index declined 0.5 percent, while the BSE Midcap index advanced 0.35 percent and the BSE Largecap index gained 0.4 percent during the week.

This week, the BSE Sensex added 187.95 points, or 0.22 percent, to finish at 82,814.71, while the Nifty50 rose 100.15 points, or 0.39 percent, to close at 25,571.25.

Sectoral performance remained mixed during the week. The Nifty PSU Bank index rose 5.5 percent, while the Nifty Energy index gained 2.4 percent and the Nifty FMCG index added 1.7 percent. The Nifty Pharma, Healthcare, and Defence indices advanced around 1 percent each. However, the Nifty Auto, IT, and Media indices declined between 1.3 and 2.5 percent during the period.

"Market sentiment remained volatile during the week, oscillating between caution and optimism. Strong buying interest in banking, financials, power, and select FMCG counters helped absorb the impact of persistent global uncertainties. Steady asset quality, stable credit growth, and clearer progress on trade discussions reinforced confidence in the domestic macro environment," said Vinod Nair, Head of Research, Geojit Investments.

"In contrast, IT stocks remained subdued as concerns around AI-led disruption and margin pressures weighed on investor confidence. Escalating geopolitical tensions between the US and Iran, coupled with a sharp rise in crude oil prices and uncertainty surrounding the US Fed’s rate-cut trajectory, briefly sparked broad-based selling. Despite these challenges, resilience in large caps, selective sectoral flows, and optimism around India’s participation in Pax Silica ensured that the market ended on a positive bias," Nair added.

"The market will closely monitor the developments between the US and Iran, crude oil price movements, and global monetary signals. Although volatility may stay elevated, strong domestic macro fundamentals and a supportive demand environment are expected to provide a cushion."

"The release of India’s GDP data next week will be keenly watched for its implications on earnings momentum and broader market positioning. Overall, markets are likely to trade within a range, with liquidity flows and global developments shaping short-term movements," he added.

Foreign Institutional Investors (FIIs) extended their selling for the second consecutive week, offloading equities worth ₹637.68 crore during the period. In contrast, Domestic Institutional Investors (DIIs) continued their buying streak, purchasing equities worth ₹6,883.81 crore.

The BSE Smallcap index shed 0.5 percent during the week, with stocks such as Aqylon Nexus, Filatex Fashions, Transworld Shipping Lines, Zaggle Prepaid Ocean Services, Stallion India Fluorochemicals, SEPC, Shoppers Stop, and Pennar Industries declining between 16–22 percent. On the other hand, VL E-Governance and IT Solutions, Novartis India, RACL Geartech, KRN Heat Exchanger and Refrigeration, Godfrey Phillips India, Aeroflex Industries, Netweb Technologies India, Jyoti Structures, Newgen Software Technologies, Sadhana Nitrochem, and Jindal Poly Investment and Finance Company gained between 16 and 28 percent.

<img class="alignnone size-full wp-image-13838101" src="https://images.moneycontrol.com/static-mcnews/2026/02/20260221052032_12345.png" alt="12345" width="814" height="804" />

Where is the market headed?

Rupak De, Senior Technical Analyst at LKP Securities

Over the next few days, higher volatility can be expected, with the index likely to oscillate in the 25,300–25,800 range. Immediate support is placed at 25,500, while immediate resistance is seen at 25,650."

Siddhartha Khemka - Head of Research, Wealth Management, Motilal Oswal Financial Services

The market is likely to consolidate next week, tracking the geopolitical development along with the signing of the India-US trade deal, India Q3 GDP data, US initial Jobless claims, and the conclusion of the AI summit.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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Small-cap index slides, top gainers surge up to 29% amid market volatility

Among the broader market indices, smallcaps underperformed midcaps and the main indices amid heightened volatility, driven by geopolitical tensions, rising crude oil prices, and sustained selling by FIIs.

Among the broader indices, the BSE Smallcap index declined 0.5 percent, while the BSE Midcap index advanced 0.35 percent and the BSE Largecap index gained 0.4 percent during the week.

This week, the BSE Sensex added 187.95 points, or 0.22 percent, to finish at 82,814.71, while the Nifty50 rose 100.15 points, or 0.39 percent, to close at 25,571.25.

Sectoral performance remained mixed during the week. The Nifty PSU Bank index rose 5.5 percent, while the Nifty Energy index gained 2.4 percent and the Nifty FMCG index added 1.7 percent. The Nifty Pharma, Healthcare, and Defence indices advanced around 1 percent each. However, the Nifty Auto, IT, and Media indices declined between 1.3 and 2.5 percent during the period.

&quot;Market sentiment remained volatile during the week, oscillating between caution and optimism. Strong buying interest in banking, financials, power, and select FMCG counters helped absorb the impact of persistent global uncertainties. Steady asset quality, stable credit growth, and clearer progress on trade discussions reinforced confidence in the domestic macro environment,&quot; said Vinod Nair, Head of Research, Geojit Investments.

&quot;In contrast, IT stocks remained subdued as concerns around AI-led disruption and margin pressures weighed on investor confidence. Escalating geopolitical tensions between the US and Iran, coupled with a sharp rise in crude oil prices and uncertainty surrounding the US Fed’s rate-cut trajectory, briefly sparked broad-based selling. Despite these challenges, resilience in large caps, selective sectoral flows, and optimism around India’s participation in Pax Silica ensured that the market ended on a positive bias,&quot; Nair added.

&quot;The market will closely monitor the developments between the US and Iran, crude oil price movements, and global monetary signals. Although volatility may stay elevated, strong domestic macro fundamentals and a supportive demand environment are expected to provide a cushion.&quot;

&quot;The release of India’s GDP data next week will be keenly watched for its implications on earnings momentum and broader market positioning. Overall, markets are likely to trade within a range, with liquidity flows and global developments shaping short-term movements,&quot; he added.

Foreign Institutional Investors (FIIs) extended their selling for the second consecutive week, offloading equities worth ₹637.68 crore during the period. In contrast, Domestic Institutional Investors (DIIs) continued their buying streak, purchasing equities worth ₹6,883.81 crore.

The BSE Smallcap index shed 0.5 percent during the week, with stocks such as Aqylon Nexus, Filatex Fashions, Transworld Shipping Lines, Zaggle Prepaid Ocean Services, Stallion India Fluorochemicals, SEPC, Shoppers Stop, and Pennar Industries declining between 16–22 percent. On the other hand, VL E-Governance and IT Solutions, Novartis India, RACL Geartech, KRN Heat Exchanger and Refrigeration, Godfrey Phillips India, Aeroflex Industries, Netweb Technologies India, Jyoti Structures, Newgen Software Technologies, Sadhana Nitrochem, and Jindal Poly Investment and Finance Company gained between 16 and 28 percent.



Where is the market headed?

Rupak De, Senior Technical Analyst at LKP Securities

Over the next few days, higher volatility can be expected, with the index likely to oscillate in the 25,300–25,800 range. Immediate support is placed at 25,500, while immediate resistance is seen at 25,650.&quot;

Siddhartha Khemka - Head of Research, Wealth Management, Motilal Oswal Financial Services

The market is likely to consolidate next week, tracking the geopolitical development along with the signing of the India-US trade deal, India Q3 GDP data, US initial Jobless claims, and the conclusion of the AI summit.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

<img class="size-full wp-image-13838018" src="https://images.moneycontrol.com/static-mcnews/2026/02/20260221023650_marketup_sensexup-Niftyup.jpg" alt="Market This Week" width="1280" height="720" /> Despite Thursday’s sharp sell-off, the Indian benchmark indices ended the volatile week with modest gains, amid persistent selling in IT stocks and rising crude oil prices driven by escalating tensions in the Middle East.

<img class="size-full wp-image-13838029" src="https://images.moneycontrol.com/static-mcnews/2026/02/20260221024303_bse-nsee_nifty-Sensex.jpg" alt="In this week, the BSE Sensex added 187.95 points, or 0.22 percent, to finish at 82,814.71, while the Nifty50 rose 100.15 points, or 0.39 percent, to close at 25,571.25." width="1280" height="720" /> In this week, the BSE Sensex added 187.95 points, or 0.22 percent, to finish at 82,814.71, while the Nifty50 rose 100.15 points, or 0.39 percent, to close at 25,571.25.

<img class="size-full wp-image-13838027" src="https://images.moneycontrol.com/static-mcnews/2026/02/20260221023804_Sensex_up_higher.jpg" alt="The Nifty Midcap index rose 0.35 percent during the week. Thermax, Indian Bank, Godrej Industries, Hitachi Energy India, Bank of India, GMR Airports, Petronet LNG, Bharat Dynamics, and Bank of Maharashtra were among the major gainers. On the other hand, Brainbees Solutions, Ola Electric Mobility, Hexaware Technologies, Persistent Systems, Vedant Fashions, and Clean Science &amp; Technology declined between 6–18 percent." width="1280" height="720" /> The BSE Midcap index rose 0.35 percent during the week. Thermax, Indian Bank, Godrej Industries, Hitachi Energy India, Bank of India, GMR Airports, Petronet LNG, Bharat Dynamics, and Bank of Maharashtra were among the major gainers. On the other hand, Brainbees Solutions, Ola Electric Mobility, Hexaware Technologies, Persistent Systems, Vedant Fashions, and Clean Science &amp; Technology declined between 6–18 percent.

<img class="size-full wp-image-13838026" src="https://images.moneycontrol.com/static-mcnews/2026/02/20260221023801_sensex_stocks_nifty_stockmarket.jpg" alt="The BSE Largecap index gained 0.4 percent during the week, led by advances in Punjab National Bank, Canara Bank, Union Bank of India, Cummins India, Bank of Baroda, and Hyundai Motor India. Meanwhile, laggards included Waaree Energies, Info Edge (India), Eternal, SRF, Tech Mahindra, LTIMindtree, and Swiggy." width="1280" height="720" /> The BSE Largecap index gained 0.4 percent during the week, led by advances in Punjab National Bank, Canara Bank, Union Bank of India, Cummins India, Bank of Baroda, and Hyundai Motor India. Meanwhile, laggards included Waaree Energies, Info Edge (India), Eternal, SRF, Tech Mahindra, LTIMindtree, and Swiggy.

<img class="size-full wp-image-13838022" src="https://images.moneycontrol.com/static-mcnews/2026/02/20260221023745_sensex_nifty_stock-stocks_stock.jpg" alt="The BSE Smallcap index shed 0.5 percent during the week, with stocks such as Aqylon Nexus, Filatex Fashions, Transworld Shipping Lines, Zaggle Prepaid Ocean Services, Stallion India Fluorochemicals, SEPC, Shoppers Stop, and Pennar Industries declining between 16–22 percent. On the other hand, VL E-Governance and IT Solutions, Novartis India, RACL Geartech, KRN Heat Exchanger and Refrigeration, Godfrey Phillips India, Aeroflex Industries, Netweb Technologies India, Jyoti Structures, Newgen Software Technologies, Sadhana Nitrochem, and Jindal Poly Investment and Finance Company gained between 16–28 percent." width="1280" height="720" /> The BSE Smallcap index shed 0.5 percent during the week, with stocks such as Aqylon Nexus, Filatex Fashions, Transworld Shipping Lines, Zaggle Prepaid Ocean Services, Stallion India Fluorochemicals, SEPC, Shoppers Stop, and Pennar Industries declining between 16–22 percent. On the other hand, VL E-Governance and IT Solutions, Novartis India, RACL Geartech, KRN Heat Exchanger and Refrigeration, Godfrey Phillips India, Aeroflex Industries, Netweb Technologies India, Jyoti Structures, Newgen Software Technologies, Sadhana Nitrochem, and Jindal Poly Investment and Finance Company gained between 16–28 percent.

<img class="size-full wp-image-13838021" src="https://images.moneycontrol.com/static-mcnews/2026/02/20260221023741_sensex_nifty_stocknew.jpg" alt="During the week, Larsen &amp; Toubro recorded the highest gain in market capitalisation, followed by Asian Paints, Titan Company, and Axis Bank. On the other hand, State Bank of India, Maruti Suzuki India, UltraTech Cement, and Trent witnessed a decline in their market capitalisation." width="1280" height="720" /> During the week, Larsen &amp; Toubro recorded the highest gain in market capitalisation, followed by Asian Paints, Titan Company, and Axis Bank. On the other hand, State Bank of India, Maruti Suzuki India, UltraTech Cement, and Trent witnessed a decline in their market capitalisation.

<img class="size-full wp-image-13838031" src="https://images.moneycontrol.com/static-mcnews/2026/02/20260221024611_sensex_nifty1.jpg" alt="Sectoral performance remained mixed during the week. The Nifty PSU Bank index rose 5.5 percent, while the Nifty Energy index gained 2.4 percent and the Nifty FMCG index added 1.7 percent. The Nifty Pharma, Healthcare, and Defence indices advanced around 1 percent each. However, the Nifty Auto, IT, and Media indices declined between 1.3–2.5 percent during the period." width="1280" height="720" /> Sectoral performance remained mixed during the week. The Nifty PSU Bank index rose 5.5 percent, while the Nifty Energy index gained 2.4 percent and the Nifty FMCG index added 1.7 percent. The Nifty Pharma, Healthcare, and Defence indices advanced around 1 percent each. However, the Nifty Auto, IT, and Media indices declined between 1.3–2.5 percent during the period.

<img class="size-full wp-image-13838020" src="https://images.moneycontrol.com/static-mcnews/2026/02/20260221023737_sensex_nifty_stock_markets.jpg" alt="Foreign Institutional Investors (FIIs) extended their selling for the second consecutive week, offloading equities worth ₹637.68 crore during the period. In contrast, Domestic Institutional Investors (DIIs) continued their buying streak, purchasing equities worth ₹6,883.81 crore." width="1280" height="720" /> Foreign Institutional Investors (FIIs) extended their selling for the second consecutive week, offloading equities worth ₹637.68 crore in this week. In contrast, Domestic Institutional Investors (DIIs) continued their buying streak, purchasing equities worth ₹6,883.81 crore.

<img class="size-full wp-image-13789262" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260124031938_rupee_fall.jpg" alt="The Indian rupee snapped its two-week winning streak to settle 34 paise lower at 90.98 against the US dollar on February 20, compared with 90.64 on February 13. During the week, the domestic currency traded in a range of 90.59 to 90.99." width="1280" height="720" /> The Indian rupee snapped its two-week winning streak to settle 34 paise lower at 90.98 against the US dollar on February 20, compared with 90.64 on February 13. During the week, the domestic currency traded in a range of 90.59 to 90.99.

Foreign Institutional Investors (FIIs) extended their selling for the second consecutive week, offloading equities worth ₹637.68 crore in this week.

In this week, the BSE Sensex added 187.95 points, or 0.22 percent, to finish at 82,814.71, while the Nifty50 rose 100.15 points, or 0.39 percent, to close at 25,571.25.

The Nifty Midcap index rose 0.35 percent during the week. Thermax, Indian Bank, Godrej Industries, Hitachi Energy India, Bank of India, GMR Airports, Petronet LNG, Bharat Dynamics, and Bank of Maharashtra were among the major gainers. On the other hand, Brainbees Solutions, Ola Electric Mobility, Hexaware Technologies, Persistent Systems, Vedant Fashions, and Clean Science &amp; Technology declined between 6–18 percent.

The BSE Largecap index gained 0.4 percent during the week, led by advances in Punjab National Bank, Canara Bank, Union Bank of India, Cummins India, Bank of Baroda, and Hyundai Motor India. Meanwhile, laggards included Waaree Energies, Info Edge (India), Eternal, SRF, Tech Mahindra, LTIMindtree, and Swiggy.

The BSE Smallcap index shed 0.5 percent during the week, with stocks such as Aqylon Nexus, Filatex Fashions, Transworld Shipping Lines, Zaggle Prepaid Ocean Services, Stallion India Fluorochemicals, SEPC, Shoppers Stop, and Pennar Industries declining between 16–22 percent. On the other hand, VL E-Governance and IT Solutions, Novartis India, RACL Geartech, KRN Heat Exchanger and Refrigeration, Godfrey Phillips India, Aeroflex Industries, Netweb Technologies India, Jyoti Structures, Newgen Software Technologies, Sadhana Nitrochem, and Jindal Poly Investment and Finance Company gained between 16–28 percent.

During the week, Larsen &amp; Toubro recorded the highest gain in market capitalisation, followed by Asian Paints, Titan Company, and Axis Bank. On the other hand, State Bank of India, Maruti Suzuki India, UltraTech Cement, and Trent witnessed a decline in their market capitalisation.

Sectoral performance remained mixed during the week. The Nifty PSU Bank index rose 5.5 percent, while the Nifty Energy index gained 2.4 percent and the Nifty FMCG index added 1.7 percent. The Nifty Pharma, Healthcare, and Defence indices advanced around 1 percent each. However, the Nifty Auto, IT, and Media indices declined between 1.3–2.5 percent during the period.

Foreign Institutional Investors (FIIs) extended their selling for the second consecutive week, offloading equities worth ₹637.68 crore during the period. In contrast, Domestic Institutional Investors (DIIs) continued their buying streak, purchasing equities worth ₹6,883.81 crore.

The Indian rupee snapped its two-week winning streak to settle 34 paise lower at 90.98 against the US dollar on February 20, compared with 90.64 on February 13. During the week, the domestic currency traded in a range of 90.59 to 90.99.

Markets post mild gains amid volatility; IT drags for third straight week

<img class="size-full wp-image-13838018" src="https://images.moneycontrol.com/static-mcnews/2026/02/20260221023650_marketup_sensexup-Niftyup.jpg" alt="Market This Week" width="1280" height="720" /> Despite Thursday’s sharp sell-off, the Indian benchmark indices ended the volatile week with modest gains, amid persistent selling in IT stocks and rising crude oil prices driven by escalating tensions in the Middle East.

<img class="size-full wp-image-13838029" src="https://images.moneycontrol.com/static-mcnews/2026/02/20260221024303_bse-nsee_nifty-Sensex.jpg" alt="In this week, the BSE Sensex added 187.95 points, or 0.22 percent, to finish at 82,814.71, while the Nifty50 rose 100.15 points, or 0.39 percent, to close at 25,571.25." width="1280" height="720" /> In this week, the BSE Sensex added 187.95 points, or 0.22 percent, to finish at 82,814.71, while the Nifty50 rose 100.15 points, or 0.39 percent, to close at 25,571.25.

<img class="size-full wp-image-13838027" src="https://images.moneycontrol.com/static-mcnews/2026/02/20260221023804_Sensex_up_higher.jpg" alt="The Nifty Midcap index rose 0.35 percent during the week. Thermax, Indian Bank, Godrej Industries, Hitachi Energy India, Bank of India, GMR Airports, Petronet LNG, Bharat Dynamics, and Bank of Maharashtra were among the major gainers. On the other hand, Brainbees Solutions, Ola Electric Mobility, Hexaware Technologies, Persistent Systems, Vedant Fashions, and Clean Science &amp; Technology declined between 6–18 percent." width="1280" height="720" /> The BSE Midcap index rose 0.35 percent during the week. Thermax, Indian Bank, Godrej Industries, Hitachi Energy India, Bank of India, GMR Airports, Petronet LNG, Bharat Dynamics, and Bank of Maharashtra were among the major gainers. On the other hand, Brainbees Solutions, Ola Electric Mobility, Hexaware Technologies, Persistent Systems, Vedant Fashions, and Clean Science &amp; Technology declined between 6–18 percent.

<img class="size-full wp-image-13838026" src="https://images.moneycontrol.com/static-mcnews/2026/02/20260221023801_sensex_stocks_nifty_stockmarket.jpg" alt="The BSE Largecap index gained 0.4 percent during the week, led by advances in Punjab National Bank, Canara Bank, Union Bank of India, Cummins India, Bank of Baroda, and Hyundai Motor India. Meanwhile, laggards included Waaree Energies, Info Edge (India), Eternal, SRF, Tech Mahindra, LTIMindtree, and Swiggy." width="1280" height="720" /> The BSE Largecap index gained 0.4 percent during the week, led by advances in Punjab National Bank, Canara Bank, Union Bank of India, Cummins India, Bank of Baroda, and Hyundai Motor India. Meanwhile, laggards included Waaree Energies, Info Edge (India), Eternal, SRF, Tech Mahindra, LTIMindtree, and Swiggy.

<img class="size-full wp-image-13838022" src="https://images.moneycontrol.com/static-mcnews/2026/02/20260221023745_sensex_nifty_stock-stocks_stock.jpg" alt="The BSE Smallcap index shed 0.5 percent during the week, with stocks such as Aqylon Nexus, Filatex Fashions, Transworld Shipping Lines, Zaggle Prepaid Ocean Services, Stallion India Fluorochemicals, SEPC, Shoppers Stop, and Pennar Industries declining between 16–22 percent. On the other hand, VL E-Governance and IT Solutions, Novartis India, RACL Geartech, KRN Heat Exchanger and Refrigeration, Godfrey Phillips India, Aeroflex Industries, Netweb Technologies India, Jyoti Structures, Newgen Software Technologies, Sadhana Nitrochem, and Jindal Poly Investment and Finance Company gained between 16–28 percent." width="1280" height="720" /> The BSE Smallcap index shed 0.5 percent during the week, with stocks such as Aqylon Nexus, Filatex Fashions, Transworld Shipping Lines, Zaggle Prepaid Ocean Services, Stallion India Fluorochemicals, SEPC, Shoppers Stop, and Pennar Industries declining between 16–22 percent. On the other hand, VL E-Governance and IT Solutions, Novartis India, RACL Geartech, KRN Heat Exchanger and Refrigeration, Godfrey Phillips India, Aeroflex Industries, Netweb Technologies India, Jyoti Structures, Newgen Software Technologies, Sadhana Nitrochem, and Jindal Poly Investment and Finance Company gained between 16–28 percent.

<img class="size-full wp-image-13838021" src="https://images.moneycontrol.com/static-mcnews/2026/02/20260221023741_sensex_nifty_stocknew.jpg" alt="During the week, Larsen &amp; Toubro recorded the highest gain in market capitalisation, followed by Asian Paints, Titan Company, and Axis Bank. On the other hand, State Bank of India, Maruti Suzuki India, UltraTech Cement, and Trent witnessed a decline in their market capitalisation." width="1280" height="720" /> During the week, Larsen &amp; Toubro recorded the highest gain in market capitalisation, followed by Asian Paints, Titan Company, and Axis Bank. On the other hand, State Bank of India, Maruti Suzuki India, UltraTech Cement, and Trent witnessed a decline in their market capitalisation.

<img class="size-full wp-image-13838031" src="https://images.moneycontrol.com/static-mcnews/2026/02/20260221024611_sensex_nifty1.jpg" alt="Sectoral performance remained mixed during the week. The Nifty PSU Bank index rose 5.5 percent, while the Nifty Energy index gained 2.4 percent and the Nifty FMCG index added 1.7 percent. The Nifty Pharma, Healthcare, and Defence indices advanced around 1 percent each. However, the Nifty Auto, IT, and Media indices declined between 1.3–2.5 percent during the period." width="1280" height="720" /> Sectoral performance remained mixed during the week. The Nifty PSU Bank index rose 5.5 percent, while the Nifty Energy index gained 2.4 percent and the Nifty FMCG index added 1.7 percent. The Nifty Pharma, Healthcare, and Defence indices advanced around 1 percent each. However, the Nifty Auto, IT, and Media indices declined between 1.3–2.5 percent during the period.

<img class="size-full wp-image-13838020" src="https://images.moneycontrol.com/static-mcnews/2026/02/20260221023737_sensex_nifty_stock_markets.jpg" alt="Foreign Institutional Investors (FIIs) extended their selling for the second consecutive week, offloading equities worth ₹637.68 crore during the period. In contrast, Domestic Institutional Investors (DIIs) continued their buying streak, purchasing equities worth ₹6,883.81 crore." width="1280" height="720" /> Foreign Institutional Investors (FIIs) extended their selling for the second consecutive week, offloading equities worth ₹637.68 crore in this week. In contrast, Domestic Institutional Investors (DIIs) continued their buying streak, purchasing equities worth ₹6,883.81 crore.

<img class="size-full wp-image-13789262" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260124031938_rupee_fall.jpg" alt="The Indian rupee snapped its two-week winning streak to settle 34 paise lower at 90.98 against the US dollar on February 20, compared with 90.64 on February 13. During the week, the domestic currency traded in a range of 90.59 to 90.99." width="1280" height="720" /> The Indian rupee snapped its two-week winning streak to settle 34 paise lower at 90.98 against the US dollar on February 20, compared with 90.64 on February 13. During the week, the domestic currency traded in a range of 90.59 to 90.99.

Prefer PSUs in sectors with strong tailwinds, such as defence, PSU banks, power utilities, metals, Small and mid-cap companies appear to have outpaced large-caps in earnings growth in Q3, Dividend yields of large cap IT companies may be an attraction now

* Prefer PSUs in sectors with strong tailwinds, such as defence, PSU banks, power utilities, metals
* Small and mid-cap companies appear to have outpaced large-caps in earnings growth in Q3
* Dividend yields of large cap IT companies may be an attraction now

shorts/business/daily-voice-delay-beyond-march-2026-in-india-us-trade-deal-could-dampen-markets-says-bharti-axa-life-cio

* Prefer PSUs in sectors with strong tailwinds, such as defence, PSU banks, power utilities, metals
* Small and mid-cap companies appear to have outpaced large-caps in earnings growth in Q3
* Dividend yields of large cap IT companies may be an attraction now

Rahul Bhuskute, Chief Investment Officer at Bharti AXA Life Insurance, believes that the market has largely priced in the current information regarding the US trade deal.

According to him, investors are now focused on the formal signing of the agreement. While a finalized deal could provide a fresh catalyst for the markets, any delay beyond the March 2026 timeline is likely to act as a dampener.

At the current juncture, he prefers PSUs in sectors with strong tailwinds, such as defence, PSU banks, power utilities, and metals. For investors seeking value, the dividend yields offered by large-cap IT companies may also be attractive, he believes.

Do you think small- and mid-cap companies have reported stronger earnings than large caps in Q3?

On an aggregate basis, small and mid-cap companies appear to have outpaced large-caps in earnings growth in Q3. However, this performance gap is largely a function of sector composition: sectors with high EPS growth in Q3 like capital goods, construction materials, and metals &amp; mining have a higher concentration in the mid/small cap space.

Conversely, large-cap indices are more heavily weighted toward private banks and IT, which have recently seen below-average growth. Normalizing for sectors, the earnings growth seems to be similar across market caps.

Do you believe Q4 numbers will be significantly better than Q3 earnings after reading the management commentaries?

In general, corporate management sentiment turned more constructive in Q3 compared to previous periods. This optimism is anchored in a convergence of supportive factors: the implementation of GST reforms, the successful conclusion of landmark trade deals with the EU, and benign interest rate environment.

Furthermore, a robust Rs 12.2 lakh crore capex outlay in the Union Budget and improving credit growth have bolstered long-term confidence. Strategic international shifts—most notably China’s phased withdrawal of export rebates on certain products—are also creating a competitive opening for Indian businesses.

While these structural tailwinds are unlikely to translate into a significant earnings spike in Q4, they provide a strong foundation for FY27. For now, street expectations for Nifty 50 FY26 growth remain anchored at 8-9%, implying a measured Q4 EPS growth of 5-6% surpassing which should not be a tall task.

Is it better to hold mid-cap IT stocks in the portfolio rather than large-cap stocks, considering the expected growth potential and concerns about AI-led disruption?

For investors looking for growth, mid-cap IT companies have generally been more attractive versus the large-cap companies not only because of smaller base but also because of their ability to specialize in certain domains, be more agile by having shorter decision-making loops and run leaner operations.

Also, some of these players have already transitioned from a traditional service-based model to a platform-led approach, resulting in a more robust and consistent growth trajectory over recent quarters.

Furthermore, their deal-win momentum for these players remains highly encouraging, signaling a strong double-digit growth for FY27 versus high single-digit growth projected for their large-cap counterparts.

However, for investors looking for value, the dividend yields of large cap IT companies may be an attraction.

Do you rule out the possibility of a stellar rally in gold and silver from here?

The recent rally in gold and silver stems from a convergence of structural drivers: aggressive central bank accumulation, geopolitical hedging, and low US real rates. Furthermore, a growing de-dollarization narrative—fueled by high US fiscal deficits and the perceived "politicization" of the Federal Reserve—has bolstered demand.

While the duration of such top-down trades is difficult to predict, these persistent tailwinds are likely to sustain elevated volatility. Given their historical role as a proven inflation hedge, we recommend maintaining a strategic allocation to precious metals (especially Gold) within a diversified portfolio.

Do you think it is better to take a bullish view on PSU stocks, considering the dividends along with the expected capital appreciation?

Investing in PSUs requires a selective approach due to government-related policy risks and disinvestment related stock overhangs. However, we also believe that certain strong well-run PSUs are conduits to deliver key government reforms and therefore good wealth generators in certain periods.

At current juncture, we like PSUs within sectors with strong tailwinds like defence, PSU banks, power utilities and metals.

Do you think the market has already priced in all the positives related to the trade deal and is likely to consolidate until the March quarter earnings are released?

Predicting near-term market direction remains difficult due to numerous shifting variables. However, we believe the market has largely priced in current information regarding the US trade deal. Investors are now focused on the formal signing; while a finalized agreement could provide a fresh catalyst, any delay beyond the March 2026 timeline would likely act as a market dampener.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Daily Voice: Delay beyond March 2026 in India-US trade deal could dampen markets, says Bharti AXA Life CIO

Rahul Bhuskute, Chief Investment Officer at Bharti AXA Life Insurance, believes that the market has largely priced in the current information regarding the US trade deal.

According to him, investors are now focused on the formal signing of the agreement. While a finalized deal could provide a fresh catalyst for the markets, any delay beyond the March 2026 timeline is likely to act as a dampener.

At the current juncture, he prefers PSUs in sectors with strong tailwinds, such as defence, PSU banks, power utilities, and metals. For investors seeking value, the dividend yields offered by large-cap IT companies may also be attractive, he believes.

Do you think small- and mid-cap companies have reported stronger earnings than large caps in Q3?

On an aggregate basis, small and mid-cap companies appear to have outpaced large-caps in earnings growth in Q3. However, this performance gap is largely a function of sector composition: sectors with high EPS growth in Q3 like capital goods, construction materials, and metals &amp;amp; mining have a higher concentration in the mid/small cap space.

Conversely, large-cap indices are more heavily weighted toward private banks and IT, which have recently seen below-average growth. Normalizing for sectors, the earnings growth seems to be similar across market caps.

Do you believe Q4 numbers will be significantly better than Q3 earnings after reading the management commentaries?

In general, corporate management sentiment turned more constructive in Q3 compared to previous periods. This optimism is anchored in a convergence of supportive factors: the implementation of GST reforms, the successful conclusion of landmark trade deals with the EU, and benign interest rate environment.

Furthermore, a robust Rs 12.2 lakh crore capex outlay in the Union Budget and improving credit growth have bolstered long-term confidence. Strategic international shifts—most notably China’s phased withdrawal of export rebates on certain products—are also creating a competitive opening for Indian businesses.

While these structural tailwinds are unlikely to translate into a significant earnings spike in Q4, they provide a strong foundation for FY27. For now, street expectations for Nifty 50 FY26 growth remain anchored at 8-9%, implying a measured Q4 EPS growth of 5-6% surpassing which should not be a tall task.

Is it better to hold mid-cap IT stocks in the portfolio rather than large-cap stocks, considering the expected growth potential and concerns about AI-led disruption?

For investors looking for growth, mid-cap IT companies have generally been more attractive versus the large-cap companies not only because of smaller base but also because of their ability to specialize in certain domains, be more agile by having shorter decision-making loops and run leaner operations.

Also, some of these players have already transitioned from a traditional service-based model to a platform-led approach, resulting in a more robust and consistent growth trajectory over recent quarters.

Furthermore, their deal-win momentum for these players remains highly encouraging, signaling a strong double-digit growth for FY27 versus high single-digit growth projected for their large-cap counterparts.

However, for investors looking for value, the dividend yields of large cap IT companies may be an attraction.

Do you rule out the possibility of a stellar rally in gold and silver from here?

The recent rally in gold and silver stems from a convergence of structural drivers: aggressive central bank accumulation, geopolitical hedging, and low US real rates. Furthermore, a growing de-dollarization narrative—fueled by high US fiscal deficits and the perceived &quot;politicization&quot; of the Federal Reserve—has bolstered demand.

While the duration of such top-down trades is difficult to predict, these persistent tailwinds are likely to sustain elevated volatility. Given their historical role as a proven inflation hedge, we recommend maintaining a strategic allocation to precious metals (especially Gold) within a diversified portfolio.

Do you think it is better to take a bullish view on PSU stocks, considering the dividends along with the expected capital appreciation?

Investing in PSUs requires a selective approach due to government-related policy risks and disinvestment related stock overhangs. However, we also believe that certain strong well-run PSUs are conduits to deliver key government reforms and therefore good wealth generators in certain periods.

At current juncture, we like PSUs within sectors with strong tailwinds like defence, PSU banks, power utilities and metals.

Do you think the market has already priced in all the positives related to the trade deal and is likely to consolidate until the March quarter earnings are released?

Predicting near-term market direction remains difficult due to numerous shifting variables. However, we believe the market has largely priced in current information regarding the US trade deal. Investors are now focused on the formal signing; while a finalized agreement could provide a fresh catalyst, any delay beyond the March 2026 timeline would likely act as a market dampener.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Nifty rebounds, closes above 25,550 led by broad-based buying, IT stocks fall 1 percent; power, metal, PSU Bank indices gain, Over 200 stocks hit 52-week lows despite market rebound

* Nifty rebounds, closes above 25,550 led by broad-based buying
* IT stocks fall 1 percent; power, metal, PSU Bank indices gain
* Over 200 stocks hit 52-week lows despite market rebound

The market rebounded on February 20, with Nifty closing above 25,550 and Sensex up 316 points, driven by broad buying except IT stocks. Power, metal, capital goods, and PSU banks gained, while IT and media declined. Over 200 stocks hit 52-week lows.

shorts/business/taking-stock-nifty-closes-above-25-550-sensex-up-317-pts-power-metal-stocks-rise-it-drags

* Nifty rebounds, closes above 25,550 led by broad-based buying
* IT stocks fall 1 percent; power, metal, PSU Bank indices gain
* Over 200 stocks hit 52-week lows despite market rebound

The market staged a strong rebound on February 20, recovering a portion of the previous session’s losses, with the Nifty closing above 25,550, supported by broad-based buying across sectors, except IT stocks.

After a subdued start amid rising US–Iran geopolitical tensions, higher crude prices, and weakness in IT shares, the indices bounced back in early trade. The rally gathered momentum as the session progressed, pushing the Nifty to an intraday high of 25,663.55 before ending the day with solid gains, despite last-hour profit booking.

At close, the Sensex was up 316.57 points or 0.38 percent at 82,814.71, and the Nifty was up 116.90 points or 0.46 percent at 25,571.25.

Broader indices were mixed, as the Nifty Midcap index gained 0.5 percent, whereas the Smallcap index closed slightly in the red.

On a weekly basis, the BSE Sensex and Nifty50 posted marginal gains.

Also Read - <a href="https://www.moneycontrol.com/news/business/earnings/nifty-50-december-quarter-profit-falls-8-1-yoy-revenue-growth-turns-double-digit-13836308.html">Nifty 50 December quarter profit falls 8.1% YoY; revenue growth turns double-digit</a>

Hindalco Industries, NTPC, SBI Life, L&amp;T, Coal India were among major gainers on the Nifty, while losers were Infosys, Tech Mahindra, Eternal, HCL Technologies and Grasim Industries.

Except IT (down 1%) and media, all other indices ended in the green with power, metal, capital goods, PSU Bank up 1-2%.

Also Read - <a href="https://www.moneycontrol.com/news/business/earnings/nifty-50-december-quarter-profit-falls-8-1-yoy-revenue-growth-turns-double-digit-13836308.html">Nifty 50 December quarter profit falls 8.1% YoY; revenue growth turns double-digit</a>

In stock specific action, RPP Infra Projects shares added 6% on receiving work order of Rs 205 crore, Novartis India shares surged 20% as promoter to sell 70.68% stake, ABB India shares jumped 5% as Q4CY25 consolidated revenue rises, CIE Automotive India shares gained 1.7% on better Q4CY25 earnings.

Lenskart Solutions share price rose 1.5% after Motilal Oswal Securities initiates 'buy' rating, Pace Digitek share price added 3% on order win worth Rs 89 crore, DEE Development shares rose 13% on order win worth USD 40 million, Artson shares added 5% on winning order from Reliance Industries.

More than 200 stocks touched their 52-week low, including Firstsource Solutions, Ola Electric, Clean Science, Hexaware Technologies, Just Dial, Suzlon Energy, Bata India, Cello World, Poly Medicure, Info Edge, Concord Biotech, Zensar Technologies, LT Technology, Mankind Pharma, C. E. Info, AWL Agri, Wipro, KEC International, Vedant Fashions, among others. <a href="https://www.moneycontrol.com/stocks/market-stats/52-week-low-bse/?indexName=BSE%20500&amp;id=12">Click to View More</a>

Outlook for February 23

Vinod Nair, Head of Research, Geojit Investments

Indian equities rebounded after yesterday’s sharp correction, led by strong buying in large caps as investors favoured their better risk reward over premium valued midcaps. Sentiment improved on clearer trade agreement signals and India’s entry into Pax Silica, which is expected to strengthen supply chain security in AI, semiconductors, and critical minerals.

Banking and metal stocks drove the recovery, while IT lagged. Volatility stayed elevated, with the India VIX spiking even as geopolitical tensions still linger. Softer inflation data from Japan supported expectations of accommodative global policy. Structurally, markets remain constructive, though near term moves are likely to stay flow driven amid global uncertainties, keeping the buy on dips, sell on rallies trend intact.

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities

After witnessing a massive fall on the back of rising geo-political tension on Thursday, Nifty tried to recover from the lows amidst volatility on Friday and closed the day higher by 116 points. After bouncing back from the opening weakness on Friday, the market was not able to sustain above the hurdle of 25650 levels in the mid to later part of the session.

A reasonable positive candle has been formed on the daily chart with upper shadow. This is signaling an attempt of bounce back from the lows. Nifty has failed to show follow-through weakness after a 1or 2 sessions sharp declines in the recent few occasions and Friday's bounce back could be one of these instances. Hence, one may expect some more upside in the short term.

Nifty is currently placed at the key support of around 25400 as per role reversal and a sustainable upmove above the hurdle of 25650-25700 levels could open another round of relief rally in the market.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Taking Stock: Nifty closes above 25,550, Sensex up 317 pts; power, metal stocks rise, IT drags

The market staged a strong rebound on February 20, recovering a portion of the previous session’s losses, with the Nifty closing above 25,550, supported by broad-based buying across sectors, except IT stocks.

After a subdued start amid rising US–Iran geopolitical tensions, higher crude prices, and weakness in IT shares, the indices bounced back in early trade. The rally gathered momentum as the session progressed, pushing the Nifty to an intraday high of 25,663.55 before ending the day with solid gains, despite last-hour profit booking.

At close, the Sensex was up 316.57 points or 0.38 percent at 82,814.71, and the Nifty was up 116.90 points or 0.46 percent at 25,571.25.

Broader indices were mixed, as the Nifty Midcap index gained 0.5 percent, whereas the Smallcap index closed slightly in the red.

On a weekly basis, the BSE Sensex and Nifty50 posted marginal gains.

Also Read - Nifty 50 December quarter profit falls 8.1% YoY; revenue growth turns double-digit

Hindalco Industries, NTPC, SBI Life, L&amp;amp;T, Coal India were among major gainers on the Nifty, while losers were Infosys, Tech Mahindra, Eternal, HCL Technologies and Grasim Industries.

Except IT (down 1%) and media, all other indices ended in the green with power, metal, capital goods, PSU Bank up 1-2%.

Also Read - Nifty 50 December quarter profit falls 8.1% YoY; revenue growth turns double-digit

In stock specific action, RPP Infra Projects shares added 6% on receiving work order of Rs 205 crore, Novartis India shares surged 20% as promoter to sell 70.68% stake, ABB India shares jumped 5% as Q4CY25 consolidated revenue rises, CIE Automotive India shares gained 1.7% on better Q4CY25 earnings.

Lenskart Solutions share price rose 1.5% after Motilal Oswal Securities initiates 'buy' rating, Pace Digitek share price added 3% on order win worth Rs 89 crore, DEE Development shares rose 13% on order win worth USD 40 million, Artson shares added 5% on winning order from Reliance Industries.

More than 200 stocks touched their 52-week low, including Firstsource Solutions, Ola Electric, Clean Science, Hexaware Technologies, Just Dial, Suzlon Energy, Bata India, Cello World, Poly Medicure, Info Edge, Concord Biotech, Zensar Technologies, LT Technology, Mankind Pharma, C. E. Info, AWL Agri, Wipro, KEC International, Vedant Fashions, among others. Click to View More

Outlook for February 23

Vinod Nair, Head of Research, Geojit Investments

Indian equities rebounded after yesterday’s sharp correction, led by strong buying in large caps as investors favoured their better risk reward over premium valued midcaps. Sentiment improved on clearer trade agreement signals and India’s entry into Pax Silica, which is expected to strengthen supply chain security in AI, semiconductors, and critical minerals.

Banking and metal stocks drove the recovery, while IT lagged. Volatility stayed elevated, with the India VIX spiking even as geopolitical tensions still linger. Softer inflation data from Japan supported expectations of accommodative global policy. Structurally, markets remain constructive, though near term moves are likely to stay flow driven amid global uncertainties, keeping the buy on dips, sell on rallies trend intact.

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities

After witnessing a massive fall on the back of rising geo-political tension on Thursday, Nifty tried to recover from the lows amidst volatility on Friday and closed the day higher by 116 points. After bouncing back from the opening weakness on Friday, the market was not able to sustain above the hurdle of 25650 levels in the mid to later part of the session.

A reasonable positive candle has been formed on the daily chart with upper shadow. This is signaling an attempt of bounce back from the lows. Nifty has failed to show follow-through weakness after a 1or 2 sessions sharp declines in the recent few occasions and Friday's bounce back could be one of these instances. Hence, one may expect some more upside in the short term.

Nifty is currently placed at the key support of around 25400 as per role reversal and a sustainable upmove above the hurdle of 25650-25700 levels could open another round of relief rally in the market.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Live: Nifty unfazed by US-Iran tensions, ends week with gains | Closing Bell

10 out of 18 years BSE 200 has given negative returns in February.

Type	R1	R2	R3	PP	S1	S2	S3
Classic	11,660.86	11,715.03	11,786.15	11,589.74	11,535.57	11,464.45	11,410.28
Fibonacci	11,637.60	11,667.17	11,715.03	11,589.74	11,541.88	11,512.31	11,464.45
Camarilla	11,618.16	11,629.65	11,641.13	11,589.74	11,595.20	11,583.71	11,572.23

INDEX CONTRIBUTION - BSE 200

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