AI disruption fears triggered IT sector rout → indices skidded → defensives absorbed selling pressure.
Cyclicals rotated into strength because RBI rate hold signaled policy stability → infra/capital goods/PSU banks led gains → IT/pharma lagged.
Declines outpaced advances as large caps held → small/mid caps underperformed → narrow breadth reflected selective participation.
FIIs turned net buyers post-outflows → boosted rate-sensitive financials → DIIs countered volatility with steady support.
VIX spiked on intraday swings → indices tested key supports → rebound from EMAs signaled buying at dips.
Key Indices
NIFTY 50
25,471
-1.30%
SENSEX
82,626.76
-1.29%
Momentum Snapshot
Index
Price
1D
1M
1Y
Sensex
82,626.76
-1.29%
-0.91%
8.81%
Nifty 50
25,471
-1.30%
-1.02%
10.59%
Nifty Next 50
68,827
-1.56%
0.44%
12.93%
Nifty Smallcap 250
15,988
-1.61%
-1.34%
6.61%
Nifty Midcap 100
59,438
-1.71%
-0.27%
16.82%
Market Sentiment
MMI Score
58.12
Greed
MMI is in the greed zone. It suggests that investors are acting greedy in the market, but the action to be taken depends on the MMI trajectory.
Since last week: Sentiment moved from Fear (40.47) to Greed (58.12).
Sector Highlights
PSU Bank
-0.68%
Declined amid broad market selloff with Nifty 50 down 1.30% and Sensex down 1.25%, influenced by weak global cues including US indices losses and fragile sentiment.
Media
-0.76%
Fell in sector-wide selloff affecting most sectors, driven by global equity weakness after Wall Street declines led by technology stocks and AI disruption concerns.
Pharma
-0.85%
Dropped as part of broad-based negative market breadth with 3,112 declining stocks versus 1,440 advancing, amid continued pressure from international market fragility.
Commodities
-2.24%
Plummeted following silver prices crash of 10% and Silver ETFs decline up to 7%, contributing to sharp sector losses in line with global selloff.
Metal
-3.31%
Cracked sharply due to heavy selling pressure in metal stocks amid broader market tumble and weak global cues, with Nifty 50 and Sensex losses over 1%.
Sector Scoreboard
Sector
1D
1W
1Y
3Y
PSU Bank
-0.68%
+3.45%
+52.49%
+135.48%
Media
-0.76%
+5.82%
-4.10%
-21.69%
Pharma
-0.85%
+1.20%
+5.89%
+81.60%
Commodities
-2.24%
+1.41%
+28.19%
+80.94%
Metal
-3.31%
+3.00%
+48.51%
+112.68%
Stock Spotlight Of The Day
Honasa Consumer Limited
Market Cap
9,815 Cr
Current Price
₹301
Stock P/E
61.6
Dividend Yield
0.00%
ROCE
8.04%
ROE
6.39%
Shareholding Changes (Impact Factors)
FIIs
QoQ
-0.88%
YoY
-0.82%
Stable foreign holding
DIIs
QoQ
-0.51%
YoY
0.19%
Stable domestic holding
Promoters
QoQ
0.57%
YoY
0.51%
Slight confidence boost
Quarterly Summary (Absolute)
Sales
QoQ
Solid pickup
11.9%
YoY
Solid pickup
16.22%
Expenses
QoQ
Mild increase
9.39%
YoY
Mild increase
9.16%
Operating Profit
QoQ
Strong profit
35.42%
YoY
Huge margin gains
150%
Net Profit
QoQ
Strong earnings
28.21%
YoY
Profits soared
92.31%
Profit & Loss (Compounded)
Sales Growth
10 Years
None%
5 Years
None%
3 Years
30%
TTM
13%
Profit Growth
10 Years
None%
5 Years
None%
3 Years
66%
TTM
104%
Stock Price CAGR
10 Years
None%
5 Years
None%
3 Years
None%
1 Year
30%
Return on Equity
10 Years
None%
5 Years
None%
3 Years
None%
Last Year
6%
Fundamentals Corner
The company is experiencing a sharp divergence between explosive bottom-line acceleration (104% TTM profit growth) and cooling top-line momentum, which has slowed from 30% to 13%.
Despite impressive quarterly margin expansion, the premium 61.6 P/E valuation looks disconnected from the weak 6.4% ROE, suggesting that investors are paying for short-term earnings spikes rather than long-term capital efficiency.
News TidBits
Honasa Consumer, the parent company of Mamaearth, reported a significant fundamental turnaround with Q3 net profits nearly doubling by 93% YoY.
The company's 'Project Neev' distribution expansion is yielding strong results, successfully scaling its younger brands beyond the core Mamaearth portfolio.
Its recent partnership with L’Oréal to manage Kiehl’s India operations strengthens its position in the high-margin omnichannel luxury skincare market.
While the stock remains sensitive to broader tech-sector sentiment, its shift from 'growth at any cost' to a profit-focused model provides a more resilient outlook for retail investors.
Current valuation levels reflect a maturing D2C player that is successfully navigating the transition to a large-scale consumer staple entity.
Stacks on Stacks: Tip Time 🤑
Ignore the 'Friday the 13th' noise; market crashes are driven by fundamental structural shifts like AI disruption rather than calendar superstitions or statistical anomalies.
Metals Market
Commodity
Price
Day
Monthly
YoY
Gold
USD/t.oz
4937.79
0.32%
6.69%
71.41%
Silver
USD/t.oz
76.836
2.23%
-17.51%
139.12%
Copper
USD/Lbs
5.7211
-1.11%
-5.52%
23.71%
Steel
CNY/T
3056
0.53%
-2.8%
-4.68%
Lithium
CNY/T
143750
0.88%
-11.81%
88.52%
Iron Ore CNY
CNY/T
762.5
-0.26%
-6.56%
-7.41%
Platinum
USD/t.oz
2005
-0.83%
-15.96%
100.56%
HRC Steel
USD/T
965.05
-1.63%
2.77%
25.66%
Iron Ore
USD/T
100.37
-0.22%
-6.98%
-5.99%
Silicon
CNY/T
8330
0.79%
-3.87%
-22.83%
Scrap Steel
USD/T
375.5
0.4%
0%
4.45%
Titanium
CNY/KG
45.5
0%
0%
0%
Precious metals witnessed a sharp 'flash red' reaction, with Gold dipping below $4,900 and Silver plunging over 10% to $76.74 due to US financial crisis signals before showing signs of short-term stabilization.
Industrial metals are facing a valuation reset; Hindalco's profit dropped 45% due to operational disruptions at its US subsidiary Novelis and mounting concerns over US tariff policy changes.
Coal India’s Q3 earnings missed expectations with a 16% net profit decline, as lower realizations from e-auctions offset robust production volume growth.
The Birla Group is doubling down on long-term demand with a $6 billion investment in aluminum and copper expansion, targeting India's infrastructure and EV-driven transition cycles.
Steel prices show slight resilience despite global volatility, supported by the Indian government's renewed signals for large-scale infrastructure and railway container projects.
Top News Developments
AI-Triggered IT Sell-Off Causes ₹3 Lakh Crore Market Cap Reset
The Nifty IT index plunged 5% due to the 'Anthropic shock,' reflecting a global unwinding of the AI trade that Indian firms failed to capitalize on initially.
Top-tier firms like TCS and Infosys saw massive valuation erasures, with SBI notably overtaking TCS in market capitalization during the rout.
The sell-off has created a contagion effect in Bengaluru-based real estate stocks as investors price in potential risks to office space and luxury housing demand.
Contrarian analysts argue the crash is overdone, suggesting Tier-1 firms will remain the 'plumbers' of the AI era and now offer deep value with crisis-level dividend yields.
Strategic Realignment: Demergers and High-Stakes Acquisitions Shape Corporate Outlook
HUL’s demerger of its ice cream business reflects a strategic pivot toward core high-margin categories amidst softening operational results.
Adani Infra’s acquisition of the insolvent Punj Lloyd marks a significant consolidation in the infrastructure space, aimed at reviving legacy assets.
Engineers India reported a 58% revenue jump and significant overseas order diversification, signaling a strong turnaround for industrial EPC majors.
Nykaa's expansion into luxury skincare via global partnerships highlights a shift toward high-margin omnichannel growth to combat traditional retail slowdowns.
Execution vs. Resilience: Divergent Trends in EVs, Defense, and Global Pharma
Ola Electric faces structural reset risks as Q3 results showed a 55% revenue decline and widening losses despite scaling efforts.
HAL’s 30% profit surge and robust interim dividend of ₹35/share underscore the resilience of the defense PSU sector in a volatile market.
The pharmaceutical sector is diverging, with Lupin and Ipca gaining on US strength while Biocon faces pressure from regulatory observations and margin misses.
Tata Motors may see a relief rally for its JLR division as China acts to prevent luxury automakers from selling vehicles below production costs.
Muthoot Finance is maintaining a record gold loan asset growth of 48%, though stock volatility persists as markets monitor gold tonnage trends and margin sustainability.
FII / DII Snapshot
Yesterday
FII Net: ₹108.42 cr
DII Net: ₹276.85 cr
January 2026
FII Net: ₹-41435.22 cr
DII Net: ₹69220.74 cr
Daily Flows
Date
FII Net
DII Net
12-Feb-2026
₹108.42 cr
₹276.85 cr
11-Feb-2026
₹943.81 cr
₹-125.36 cr
10-Feb-2026
₹69.45 cr
₹1174.21 cr
09-Feb-2026
₹2254.64 cr
₹4.15 cr
06-Feb-2026
₹1950.77 cr
₹-1265.06 cr
Monthly Flows
Month
FII Net
DII Net
January 2026
₹-41435.22 cr
₹69220.74 cr
December 2025
₹-34349.62 cr
₹79619.91 cr
November 2025
₹-17500.31 cr
₹77083.78 cr
October 2025
₹-2346.89 cr
₹52794.02 cr
September 2025
₹-35301.36 cr
₹65343.59 cr
August 2025
₹-46902.92 cr
₹94828.55 cr
IPO Watchlist
Upcoming IPOs
The NSE has appointed Rothschild for its projected $2.5 billion IPO, an event likely to trigger a massive liquidity surge for existing institutional shareholders.
PhonePe is advancing toward a public listing via an updated DRHP, highlighting the shift in India’s fintech ecosystem from aggressive growth to structured public market exits.
The healthcare sector is seeing new niche entries, with Gaudium IVF set to launch the first-ever IPO in the IVF service segment.
PNGS Reva Diamond Jewellery is scheduled to open its listing window from February 24 to February 26, testing investor appetite for the premium retail jewelry sector.
PNGS Reva Diamond Jewellery
380.00
Date:24 Feb - 26 Feb
List:4 Mar
Subscription: -
GMP: 5.18%
Cha-Ching Cheatsheet 💵
When Margin Trading Facility (MTF) usage reaches record highs like ₹1.16 lakh crore, prioritize capital preservation and avoid high leverage to prevent becoming a forced seller during volatility.
Global Markets
Country
Index
1D
1Y
3Y
🇩🇪 Germany
DAX
0.05%
9.96%
61.49%
🇬🇧 UK
FTSE
0.01%
18.69%
30.90%
🇮🇳 India
GIFT NIFTY
-0.05%
10.16%
42.98%
🇰🇷 South Korea
KOSPI
-0.28%
116.2%
124.53%
🇫🇷 France
CAC
-0.37%
1.78%
15.28%
🇮🇩 Indonesia
Jakarta Composite
-0.65%
23.57%
19.02%
🇹🇭 Thailand
SET Composite
-0.78%
11.39%
-14.08%
🇯🇵 Japan
Nikkei 225
-1.18%
46.2%
107.69%
🇨🇳 China
Shanghai Composite
-1.27%
21.98%
24.3%
🇺🇸 USA
S&P 500
-1.57%
11.74%
65.15%
🇸🇬 Singapore
Straits Times
-1.60%
27.44%
48.52%
🇭🇰 Hong Kong
Hang Seng
-1.79%
21.5%
25.48%
Big Tech AI capex surge → risk appetite shifts → IT outsourcing demand evaporated → Nifty IT plunged 21%.
Rupee weakened amid FII caution → currency/dollar moves → EM borrowing costs rose → financials faced headwinds.
The Indian Energy Exchange (IEX) is navigating regulatory headwinds after the APTEL tribunal allowed fresh pleas against current regulations, clouding the stock's near-term outlook.
Reliance Industries secured a strategic regulatory win with a US general license to purchase Venezuelan oil directly, a move expected to significantly optimize feedstock costs and refining margins.
Government 'Make in India' initiatives are driving fresh capital expenditure in the power sector, with companies like Siemens Energy investing heavily in domestic transformer manufacturing.
The 'Insurance for All by 2047' initiative is being positioned as a key resilience play to drive penetration across the MSME and gig-worker segments through regulatory support.
SEBI and the exchanges are monitoring the SME IPO segment for signs of 'froth' as recent listings show extreme volatility and immediate lower-circuit triggers.
Crypto Buzz
Name
Price
Market Cap
24h Change
ATH Change
Bitcoin (BTC)
$66862
$1.34T
-1.70%
-46.97%
Ethereum (ETH)
$1952.53
$235.90B
-2.21%
-60.52%
Tether (USDT)
$0.999376
$183.78B
-0.01%
-24.47%
XRP (XRP)
$1.36
$83.12B
-2.49%
-62.61%
BNB (BNB)
$598.65
$81.64B
-3.29%
-56.30%
Bitcoin has shown relative resilience compared to the broader market, consolidating near $66,000-$68,000 despite a 1.23% drop in total crypto market capitalization.
Investor sentiment remains cautious as the DeFi sector grapples with cross-chain interoperability challenges, leading to a surge in multi-chain trading terminal development.
Digital asset speculation is cooling globally as investors await US CPI data for directional cues on interest rates and inflation.
The market reflects a transition from momentum-based trading to a 'risk-off' environment, with Bitcoin briefly retreating to $65,000 amid global macro jitters.
