📉 The Big Picture
Markets ended the session on a cautious note, with indices failing to recover from early weakness. After a soft opening tracking lower Gift Nifty and muted global cues (US markets shut for Presidents’ Day), selling pressure persisted through the day, particularly in technology and select large-cap names.
The tone remained defensive as traders avoided aggressive positioning ahead of key global data and continued FII selling.
📊 Market Snapshot
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Sensex: Closed lower amid broad-based pressure
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Nifty: Settled below the 25,500 zone
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Broader Markets: Mid- and small-caps underperformed, reflecting risk aversion
Market breadth stayed weak, indicating selective selling rather than panic.
🔍 What Drove the Market Today
💻 IT Drag Continues
The Nifty IT index extended its recent correction, now down sharply over the past week.
Concerns include:
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AI-led disruption fears
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Stretched valuations in select tech names
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Persistent FII outflows
However, long-term investors may begin watching quality IT names for gradual accumulation after steep corrections.
🏦 Financials & PSU Banks
PSU banks showed relative resilience following strong quarterly numbers and easing inflation expectations. SBI’s performance continues to anchor sentiment in the space.
🌍 Global Context
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US markets remained closed, keeping global volumes light.
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Asian markets were mixed.
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European markets traded cautiously.
US inflation cooling to 2.4% last week has revived rate-cut hopes, but investors remain cautious ahead of Fed minutes.
🛢 Commodities & Macro
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Gold: Held firm near recent highs on rate-cut optimism
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Brent Crude: Stable near $68/bbl
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Rupee: Remained sensitive to dollar demand
💰 Institutional Flow
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FIIs remained cautious sellers in recent sessions
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DIIs continued to absorb supply, offering partial downside support
The divergence between FII and DII behaviour remains a key structural theme.
🏢 Corporate Highlights
Positive Developments
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Manappuram Finance: RBI nod for Bain Capital deal
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Reliance Industries: US licence for Venezuelan crude sourcing
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Torrent Pharma, IPCA Labs, Siemens Energy, Inox Wind, National Fertilizers, Vijaya Diagnostic: Strong quarterly earnings
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IRB Infra: 1:1 bonus announcement
Watchlist
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Ola Electric: Weak earnings
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Stocks with USFDA observations may see volatility
📊 Technical Wrap
Nifty
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Weak below 25,500
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Immediate support: 25,300 → 25,200
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Resistance: 25,700 → 25,850
Bank Nifty
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Holding near 60,000 zone
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Support: 59,500
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Resistance: 60,500
The index structure suggests consolidation with a negative bias unless key resistance levels are reclaimed.
🔮 What to Watch Next
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FII flow trajectory
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US Fed minutes
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Developments around US–India trade discussions
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Continued earnings reaction in stock-specific counters
🧠 Closing Thought
Today’s session reinforced one message: this is a selective market.
Indices are under pressure, leadership is narrow, and momentum is fragile. In such phases, capital preservation and stock selection matter more than aggressive positioning.
The market will open again tomorrow.
Discipline remains your strongest asset.
