BSE SME IPO

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.

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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

Trump Weighs Iran Strike; Global Markets Wobble — Can Nifty Hold 25,500? | Opening Bell

Indian equity benchmarks, Sensex and Nifty, are likely to see a flat start on February 20, following gains in GIFT Nifty, which was trading at around 25,403.

Track the latest updates on GIFT Nifty right here on Moneycontrol.

Indian equity markets failed to sustain their early momentum and snapped a three-day gaining streak on February 19, with the Nifty slipping below the 25,400, intraday, amid broad-based selling across sectors. Investor sentiment was further weighed down by escalating tensions between the US and Iran.

At close, the Sensex was down 1,236.11 points or 1.48 percent at 82,498.14, and the Nifty was down 365 points or 1.41 percent at 25,454.35.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Flat)

The GIFT Nifty is trading flat at around 25,403, indicating a muted start for the day.

Asian Equities (Slip)

Asian equities fell as escalating tensions in Iran weighed on sentiment, while oil rose to its highest level since August.



US Equities (Slip)

Wall Street ended lower on Thursday, with losses in private equity companies and weakness in Walmart and Apple, while earnings-driven gains in industrials limited losses.

The Nasdaq declined 0.31% to 22,682.73 points, while the Dow Jones Industrial Average declined 0.54% to 49,395.16 points.



Dollar Index (Down)

The dollar was poised on Friday to cap its strongest weekly performance since October, buoyed by a run of better-than-expected economic data, a more hawkish Federal Reserve outlook and as tensions between the U.S. and Iran kept markets on edge.



US Bond Yield (Down)

The US Treasury 10-year yield fell 2 basis points to 4.06%.



Asian Currencies (Down)

Asian currencies were trading mostly lower in the early trade on Friday, while on year-to-date basis Malaysian Ringgit rose 4%, and Philippines Peso, Thai Baht, China Renminbi, Singapore Dollar added 1% each. However, Indonesian Rupiah shed more than 1%.



Crude (Up)

Oil prices were higher on Friday as concern of conflict between the U.S. and Iran ratcheted up, with Washington saying Tehran will suffer if it does not agree a deal about its nuclear activity within a matter of days.



Gold (Up)

Gold hovered around $5,000 an ounce as traders assessed the latest flareup in geopolitics and the
Federal Reserve’s next move on interest rates.



Fund Flow Action

Foreign Institutional Investors (FIIs) snapped their two-day buying streak as they sold equities worth Rs 880 crore on February 19. Meanwhile, Domestic Institutional Investors (DIIs) also ended their five-day buying streak, offloading equities worth Rs 596 crore.



Hope you're all set for today's trade. We wish you a profitable day ahead.

Disclaimer: The views and investment tips expressed by investment 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.

First Tick: Top global cues to watch in today’s trade

7 out of 14 years BSE SME IPO has given positive returns in February.

Type	R1	R2	R3	PP	S1	S2	S3
Classic	85,950.71	86,165.25	86,328.47	85,787.49	85,572.95	85,409.73	85,195.19
Fibonacci	85,931.79	86,020.95	86,165.25	85,787.49	85,643.19	85,554.03	85,409.73
Camarilla	85,770.80	85,805.43	85,840.05	85,787.49	85,701.54	85,666.91	85,632.29

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