US AI-driven selloff triggered global risk-off → Nifty breached key support → broad indices plunged as caution dominated despite prior recovery momentum.
Declines outpaced advances post-break → small-caps lagged large-caps → profit booking hit breadth as downside momentum accelerated.
FIIs poured into PSU banks → DIIs countered broader selling → heavy put writing at lower strike signaled hedging against further drops.
India VIX spiked on breach → intraday low tested supports → resistance capped recovery attempts in narrow range grind.
Key Indices
NIFTY 50
25,425
-1.12%
SENSEX
82,319.89
-1.17%
Momentum Snapshot
Index
Price
1D
1M
1Y
Sensex
82,319.89
-1.17%
0.56%
10.35%
Nifty Next 50
69,778
0.08%
5.31%
16.78%
Nifty Midcap 100
59,066
-0.32%
3.36%
18.10%
Nifty Smallcap 250
15,933
-0.59%
4.04%
9.83%
Nifty 50
25,425
-1.12%
1.50%
12.73%
Market Sentiment
MMI Score
46.68
Fear
MMI is in the fear zone. It suggests that investors are fearful in the market, but the action to be taken depends on the MMI trajectory.
Since last week: Sentiment moved from Fear (45.09) to Fear (46.68).
Sector Highlights
Metal
+0.93%
Gains supported by broader market recovery in cyclical sectors and strength in commodities amid positive global trade cues from India-US and India-EU engagements.
Energy
+0.78%
Upward movement driven by continued strength in oil and power stocks, extending weekly rebound of 2.44% with support from ONGC as a top gainer.
Commodities
+0.70%
Positive performance linked to strength in metal and energy sub-sectors amid selective buying and improving export prospects from recent trade engagements.
Realty
-2.54%
Decline extended from weekly drop of 0.35% in NIFTY REALTY, amid broader market weakness and lack of sector-specific positive catalysts.
IT
-4.74%
Sharp fall due to heavy selling pressure from AI worries, with IT index bleeding 5%, NIFTY IT major drag, and losses in Infosys, TCS, HCL Technologies, Tech Mahindra.
Sector Scoreboard
Sector
1D
1W
1Y
3Y
Metal
+0.93%
+0.06%
+38.95%
+113.17%
Energy
+0.78%
+0.98%
+16.30%
+68.53%
Commodities
+0.70%
-0.09%
+24.36%
+79.87%
Realty
-2.54%
-2.10%
-3.00%
+114.16%
IT
-4.74%
-3.63%
-22.18%
+3.11%
Stock Spotlight Of The Day
Bharti Airtel Limited
Market Cap
11,06,691 Cr
Current Price
₹1,941
Stock P/E
36.1
Dividend Yield
0.82%
ROCE
13.5%
ROE
23.2%
Shareholding Changes (Impact Factors)
FIIs
QoQ
1.33%
YoY
4.48%
Positive foreign sentiment
DIIs
QoQ
0.14%
YoY
0.02%
Stable domestic holding
Promoters
QoQ
-1.4%
YoY
-4.25%
Minor reduction
Quarterly Summary (Absolute)
Sales
QoQ
Slight growth
3.52%
YoY
Solid pickup
19.62%
Expenses
QoQ
Slight uptick
2.72%
YoY
Costs rising
12.98%
Operating Profit
QoQ
Slight improvement
4.13%
YoY
Strong profit
25.15%
Net Profit
QoQ
Flat trend
-1.71%
YoY
Collapsed
-47.3%
Profit & Loss (Compounded)
Sales Growth
10 Years
6%
5 Years
15%
3 Years
14%
TTM
25%
Profit Growth
10 Years
18%
5 Years
31%
3 Years
83%
TTM
53%
Stock Price CAGR
10 Years
21%
5 Years
29%
3 Years
38%
1 Year
25%
Return on Equity
10 Years
10%
5 Years
15%
3 Years
17%
Last Year
23%
Fundamentals Corner
The company shows a powerful long-term structural uptrend, with ROE more than doubling over the last decade to 23% and sales growth accelerating from a 6% 10-year average to 25% TTM.
Despite this momentum, a massive disconnect has emerged in recent quarters where a 47% YoY crash in net profit contradicts strong 25% operating profit growth, suggesting heavy non-operating drags or one-time provisions.
While long-term value creation remains intact, the current 36.1 P/E ratio looks vulnerable unless the company can quickly bridge the gap between its robust top-line execution and the collapsing bottom line.
News TidBits
Bharti Airtel is pivoting toward a major fintech play with a ₹20,000 crore capital infusion into its NBFC arm, Airtel Money, to compete with Jio Financial Services.
The strategic investment aims to monetize its massive telecom subscriber base by offering digital lending and financial products to a captive audience.
Analysts view this move as a high-margin diversification strategy that could re-rate the stock if credit risk and liability advantages are managed disciplinedly.
Potential risks include intensifying competition in the digital credit space and the inherent cyclicality of the lending business compared to stable telecom revenues.
This capital allocation marks a shift in focus toward non-telecom growth drivers, though debt levels and long-term ROE will be closely monitored by institutional investors.
Stacks on Stacks: Tip Time 🤑
Internalize the 'valuation reset' law: market corrections are often the price of admission for future outperformance, and stopping SIPs during froth-clearing phases is a mathematical error in wealth compounding.
Metals Market
Commodity
Price
Day
Monthly
YoY
Gold
USD/t.oz
5173.41
-1.03%
3.24%
77.27%
Silver
USD/t.oz
88.015
-0.19%
-15.29%
177.01%
Copper
USD/Lbs
5.8691
1.53%
-2.51%
25.98%
Steel
CNY/T
3029
-0.88%
-3.01%
-6.11%
Lithium
CNY/T
152000
5.74%
-16.25%
100.26%
Iron Ore CNY
CNY/T
740.5
-0.74%
-6.15%
-9.25%
Platinum
USD/t.oz
2171.3
0.87%
-24.56%
124.68%
HRC Steel
USD/T
992.09
0.31%
2.7%
9.38%
Iron Ore
USD/T
99.27
-0.06%
-6.48%
-7.39%
Silicon
CNY/T
8330
0%
-5.66%
-20.74%
Scrap Steel
USD/T
374
0.27%
0%
4.18%
Titanium
CNY/KG
45.5
0%
0%
-1.09%
Gold and silver prices are experiencing significant volatility, trading at high premiums as investors seek safe-havens amidst trade-tension worries and central bank buying.
Industrial metals show divergent trends with Lithium prices surging 5.74% in a single day, while steel and iron ore face marginal declines due to shifting global manufacturing demand.
Copper and Platinum showed resilience with gains of 1.53% and 0.87% respectively, supported by infrastructure strengthening and energy transition cycles in the domestic market.
Top News Developments
The AI Scare Trade: IT Sector’s 20% February Meltdown
Nifty IT plummeted over 20% this month as fears grew that Anthropic’s Claude AI could disrupt legacy software maintenance and enterprise services.
A contagion sell-off triggered by IBM’s largest single-day drop in 25 years severely impacted heavyweights like TCS, Infosys, and HCLTech.
While the current rout is narrative-driven, cybersecurity stocks also fell as AI tools demonstrated capabilities to automatically fix open-source vulnerabilities.
Some analysts argue IT firms will eventually act as bridges for AI adoption, but near-term valuation resets are unavoidable as clients reassess spending.
Trade War 2.0: US Tariff Volatility Hits Indian Exports
Proposed 10-15% universal US tariffs under a potential Trump administration have heightened defensive sentiment across export-reliant Indian sectors.
Textile players like Gokaldas Exports and Trident face a double whammy of reduced duty benefits and rising uncertainty regarding US market access.
A legal vacuum in the US may lead to the 'front-loading' of exports in machinery and textiles as firms try to beat potential future tariff spikes.
Capital is noticeably shifting toward safe havens like gold and US Treasuries as investors hedge against potential global trade disruptions.
Infrastructure Momentum: Record Orders and Global JVs
Power sector firms like KEC International are reporting record order intakes of ₹21,300 crore YTD, driven by national grid strengthening.
Cochin Shipyard's $500-million joint venture with HD Hyundai marks the first direct investment by a global shipbuilding giant in Indian infrastructure.
The 'LIGO India' project involving L&T highlights India's growing role in global mega-science, creating high-tech manufacturing opportunities.
Adani Power faces regional risks as Bangladesh’s new leadership seeks to renegotiate power purchase agreements, impacting cross-border infrastructure sentiment.
Earnings Duality: Banking Resilience vs. Retail Sector Hikes
HDFC Bank and SBI led a cluster of banking gainers today, riding the surge in credit growth and signals of a modest RBI rate cut.
R R Kabel stood out with a 42.3% revenue jump, underscoring robust demand for infrastructure-grade cables despite broader market weakness.
India Inc. is projected to offer 9.1% salary hikes in 2026, though firms are increasingly balancing labor costs against AI-driven automation needs.
The impending removal of certain stocks from the F&O segment by May 2026 is expected to lead to structural selling and reduced liquidity in specific counters.
FII / DII Snapshot
Yesterday
FII Net: ₹3483.70 cr
DII Net: ₹-1292.24 cr
January 2026
FII Net: ₹-41435.22 cr
DII Net: ₹69220.74 cr
Daily Flows
Date
FII Net
DII Net
23-Feb-2026
₹3483.70 cr
₹-1292.24 cr
20-Feb-2026
₹-934.61 cr
₹2637.15 cr
19-Feb-2026
₹-880.49 cr
₹-596.28 cr
18-Feb-2026
₹1154.34 cr
₹440.34 cr
17-Feb-2026
₹995.21 cr
₹187.04 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
Ongoing IPOs
Demand remains highly selective with Gaudium IVF seeing 7.26x subscription, while PNGS Reva Diamond and Clean Max Enviro show more muted interest near 0.5x.
Shree Ram Twistex is attracting moderate attention with a 0.74x subscription and a notable 8.65% grey market premium ahead of its listing on March 2nd.
PNGS Reva Diamond Jewellery
380.00
Date: 24 Feb - 26 Feb
List: 4 Mar
Subscription: 0.62x
GMP: 1.04%
Clean Max Enviro Energy Solutions
3100.00
Date: 23 Feb - 25 Feb
List: 2 Mar
Subscription: 0.47x
GMP: 0.00%
Shree Ram Twistex
110.24
Date: 23 Feb - 25 Feb
List: 2 Mar
Subscription: 0.74x
GMP: 8.65%
Gaudium IVF T
165.00
Date: 20 Feb - 24 Feb
List: 27 Feb
Subscription: 7.26x
GMP: 0.00%
Upcoming IPOs
Omnitech Engineering is scheduled to open for subscription on February 25 with a modest 3.08% GMP, targeting a size of ₹583 crore.
The market is anticipating a future wave of mega-IPOs from unlisted giants like Reliance Retail and Flipkart, which could represent a massive $180 billion liquidity event.
Omnitech Engineering
583.00
Date:25 Feb - 27 Feb
List:5 Mar
Subscription: -
GMP: 3.08%
Cha-Ching Cheatsheet 💵
Apply the principle of 'Decision Hygiene' by distinguishing between narrative-driven sell-offs, like the current AI scare, and actual fundamental business breakdowns before altering your core portfolio.
Global Markets
Country
Index
1D
1Y
3Y
🇰🇷 South Korea
KOSPI
2.07%
125.67%
144.75%
🇯🇵 Japan
Nikkei 225
0.95%
48.33%
108.39%
🇨🇳 China
Shanghai Composite
0.86%
23.55%
25.37%
🇹🇭 Thailand
SET Composite
0.68%
20.6%
-9.81%
🇮🇳 India
GIFT NIFTY
0.10%
12.57%
44.9%
🇫🇷 France
CAC
0.05%
5.07%
18.29%
🇩🇪 Germany
DAX
0.05%
11.49%
64.39%
🇬🇧 UK
FTSE
-0.17%
23.18%
34.88%
🇸🇬 Singapore
Straits Times
-0.42%
27.81%
53.76%
🇺🇸 USA
S&P 500
-1.04%
14.28%
72.23%
🇮🇩 Indonesia
Jakarta Composite
-1.39%
22.69%
21.07%
🇭🇰 Hong Kong
Hang Seng
-1.87%
13.9%
30.64%
US markets tanked on AI bubble fears → risk appetite collapsed → EM equities including India sold off as capital fled high-valuation plays.
Oil prices dipped on demand worries → energy linkage eased → upstream oil-gas dipped less than cyclicals buoyed by lower input costs.
Global growth forecasts trimmed post-tech rout → capex expectations cooled → India's infra-linked plays faced profit-taking pressure.
US yields rose on flight-to-quality → rate differentials widened → FIIs rotated from high-beta to yield-attractive PSU banks despite EM drag.
Emerging Opportunities
PSU banks + FII stake-buying accelerates + load up on 75% dividend norms post-RBI greenlight as reforms unlock re-rating.
Auto ancillaries + tariff truce stabilizes orders + enter on export rebound angle while market dumps cyclicals.
FMCG defensives + input cost drop from weak commodities + accumulate as rotation favors staples over beaten tech.
Clinical-stage biopharma + valuation addendum clears EGM + contrarian bet on regulatory unlock amid sector neglect.
IPO pipeline (enviro energy/textiles) + fresh capital raises + deploy in under-owned smallcaps post-breadth washout.
Policy & Regulations
The Indian government has unveiled Asset Monetisation Pipeline 2.0, aiming to raise ₹16.72 lakh crore by 2030 through PSU stake sales and equity offerings in sectors like coal and railways.
A 50% reduction in RoDTEP duty benefits has sparked a sell-off in textile stocks like Gokaldas Exports, as exporters face reduced government support alongside US tariff uncertainty.
SEBI and FSSAI have introduced transparency mandates for coffee players like Nestlé and HUL to disclose chicory content, reflecting a broader push for consumer-centric regulatory oversight.
The activation of MSBPL for stock broking operations effective today signals increasing competition and regulatory support for technology-driven retail trading platforms.
Crypto Buzz
Name
Price
Market Cap
24h Change
ATH Change
Bitcoin (BTC)
$63158
$1.26T
-4.78%
-49.91%
Ethereum (ETH)
$1820.4
$219.67B
-4.96%
-63.19%
Tether (USDT)
$0.999774
$183.59B
-0.01%
-24.44%
XRP (XRP)
$1.33
$81.22B
-4.98%
-63.49%
BNB (BNB)
$587.29
$80.07B
-3.38%
-57.13%
Bitcoin and Ethereum have experienced their worst monthly performance since 2022, with prices falling toward $63,000 and $1,820 respectively amid a global risk-off shift.
Digital assets are showing a high correlation to institutional caution in the derivatives market, leading to a significant pullback in total market capitalization to $2.26 trillion.
Despite short-term volatility, institutional interest remains evidenced by Hong Kong-based RedotPay weighing a $1 billion US IPO for its stablecoin payment services.
