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Share Market Ends Range-Bound: Sensex Rises 173 Points, Nifty Above 25,700; PSU Banks Outperform
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The BSE Sensex rises 173.81 points or 0.21% to close at 83,450.96, while the NSE Nifty inches up by 42.65 points or 0.17% to end the day above the 25,700 level at 25,725.40.
Stock Market Today.
Stock Market Today: Indian equities ended February 16 on a mildly positive note as benchmark indices moved in a narrow range, as participants refrained from aggressive positioning in the absence of strong domestic triggers and amid mixed global cues. This is the second day in a row when markets managed to close in green. The BSE Sensex rose 173.81 points or 0.21% to close at 83,450.96, while the NSE Nifty inched up by 42.65 points or 0.17% to end the day above the 25,700 level at 25,725.40.
The Bank Nifty rose 0.37% to 61,174, remaining close to its 52-week high of 61,764, aided by strength in select banking heavyweights.
Broader Markets Outperform
The broader market space extended its outperformance versus frontline indices, indicating sustained risk appetite. The Smallcap 100 gained 0.56%, Microcap 250 advanced 0.99%, and MidSmallcap 400 rose 0.44%.
Sectoral Trends Mixed; PSU Banks Lead
Sectoral performance remained scattered, with clear stock-specific action rather than a broad-based trend. The PSU Bank index jumped 2.11%, emerging as the session’s top gainer and inching closer to its yearly peak, pointing to renewed buying interest in state-run lenders. IT stocks climbed 1.03%, extending their rebound, while FMCG added 0.90%, supported by defensive buying.
Metals Drag; Realty, Oil & Gas Slip
On the losing side, metal stocks declined 1.06%, making the pack’s weakest performer, likely due to global commodity caution and profit booking after recent rallies. Oil & Gas and Realty indices also closed marginally lower.
Volatility Eases Further
Market volatility softened, with India VIX falling 4.93% to 12.67, signalling reduced hedging activity and relatively calm trader sentiment.
What Analysts Say
Vinod Nair, head of research, Geojit Investments Ltd, said, “Domestic markets traded in a range-bound manner, attempting to recover recent losses triggered by lingering concerns over AI-led disruptions. The IT sector, following a sharp correction, witnessed selective bottom-fishing, aided by announcements of strategic collaborations with global AI partners. Meanwhile, PSU banks outperformed the broader indices, supported by positive Q3 results and favourable regulatory tailwinds.”
In the near term, sentiment is likely to remain cautious as investors monitor global developments around AI-driven shifts. However, a resilient GDP outlook, and a stabilising rupee may provide support to renewed FII inflows, he added.
Nilesh Jain, vice-president and head of technical and derivative research at Centrum Finverse Ltd, said, “The Nifty extended its upward momentum for the second straight session, successfully filling Friday’s gap. It closed above its 100-DMA near 25,700, indicating improving strength. However, the index faced resistance around the 50-DMA placed at 25,750, a decisive breakout above this level could pave the way for further upside towards 26,000. On the downside, immediate support has shifted higher to 25,600. Meanwhile, India VIX cooled off sharply, declining by nearly 5% to slip below the 13 mark.”
Any further easing in volatility is likely to remain supportive of bullish sentiment. Overall, the broader structure continues to look positive, and a buy-on-dips approach should be maintained as long as the Nifty holds above the 25,400 zone, he added.
Ponmudi R, CEO of Enrich Money, a SEBI – registered online trading and wealth tech firm, said, “Indian equity markets traded with a mildly positive yet cautious undertone, as participants refrained from aggressive positioning in the absence of strong domestic triggers and amid mixed global cues The banking space once again acted as a structural pillar, stabilising the broader indices during intraday volatility. The IT sector witnessed selective bargain buying and short-covering, leading to a measured recovery. While this rebound does not yet signal a confirmed trend reversal, it increases the probability of an early-stage bottom formation — a development worth monitoring closely in the coming sessions.”
Market participants continue to await clear external catalysts before committing to the next decisive directional move. On the macro front, the rupee remained broadly stable, reflecting balanced dollar demand and the absence of currency-led stress. Steady domestic liquidity flows continue to cushion downside risks, reinforcing the underlying resilience of the market structure, he added.
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Stock markets outlook: Dalal Street braces for swings as RBI MPC decision, war risks weigh on sentiment–Check key triggers – The Times of India
Domestic equities are expected to remain volatile this week as investors track the Reserve Bank’s monetary policy decision, global macroeconomic cues and evolving developments in the West Asia conflict, analysts said, according to PTI.Market participants will also keep a close watch on crude oil price movements and foreign fund flows, which continue to influence sentiment.Vinod Nair, Head of Research at Geojit Investments Ltd, said the RBI’s Monetary Policy Committee (MPC) meeting will be the key domestic trigger, with investors focusing on the central bank’s stance on inflation and growth.“A rate pause is near-certain consensus, the central bank walks a tightrope between crude-driven inflation risks and a four-year low Manufacturing PMI signalling a softening growth impulse. The governor’s commentary on the rate cycle trajectory and FY27 projections will be closely monitored.“Globally, the US March CPI reading will carry significant importance, as it buries residual Fed rate-cut hopes, strengthens the dollar and tightens financial conditions for emerging markets, including India,” Nair said.He added that geopolitical developments in West Asia will remain the dominant factor shaping market direction.“Indian markets return after a three-day gap and remain acutely vulnerable to weekend war developments, with crude trajectory and any credible ceasefire signal being the decisive variable that could either trigger a sharp relief rally or extend the current sell-on-rise mode,” he said.In the previous holiday-shortened week, the BSE Sensex declined 263.67 points, or 0.35%, while the NSE Nifty fell 106.5 points, or 0.46%.Siddhartha Khemka, Head of Research (Wealth Management) at Motilal Oswal Financial Services Ltd, said investor sentiment will remain closely linked to developments in the West Asia conflict.Brent crude prices have stayed elevated near $107 per barrel, fuelling concerns around imported inflation. Currency pressures have also intensified, with the rupee weakening sharply before recovering towards Rs 93 against the US dollar following RBI intervention, he noted.Foreign institutional investor (FII) outflows remain a key overhang, with March witnessing heavy selling of Rs 1.2 lakh crore, among the highest monthly outflows in recent years.“Investors will monitor the US Federal Open Market Committee (FOMC) meeting minutes, GDP data, and initial jobless claims for further cues on growth and the policy trajectory.“Overall, markets are expected to remain volatile as geopolitical developments, crude price movements, FII flows and global macro data continue to drive sentiment,” Khemka said.Analysts said any signs of de-escalation in the West Asia conflict could ease crude prices and stabilise the currency, offering relief to markets, while further escalation may prolong risk aversion and keep pressure on foreign flows.
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Middle East conflict may hit India’s exports beyond region if prolonged, says government – The Times of India
A prolonged conflict in Middle East could begin to hurt India’s exports not just to the region but also to other global markets, as disrupted supply chains ripple outward, commerce secretary Rajesh Agrawal said on Saturday, He also urged the pharmaceutical industry to reduce dependence on imported raw materials and build more resilient export and import linkages.Speaking on the sidelines of ‘Chintan Shivir – Scaling Up Pharma Exports’ in Hyderabad, Agrawal said the government has already seen an impact on both imports and exports over the past month because of the Middle East crisis, with energy imports and regional trade flows under pressure.
“Middle East is also an important market. Around 12-13 per cent of our exports go to the region. So, that will directly get impacted. And if it goes on for long, maybe our exports to other parts of the world will also get impacted as some of the value chains will rotate back. We are cognizant of it,” Agrawal told reporters, as per news agency PTI.He said the exact impact of the conflict on India’s trade would become clearer in the next couple of weeks, but indicated that both exports and imports could see some decline.“And I assume, it will not only be a one-way traffic, in terms of export going down, but it will also be imports having some downfall,” he said.Agrawal cautioned that even if the war ends soon, the disruption may linger for months or even years, depending on the extent of damage to supply chains and infrastructure.“So, at this juncture, it will be very difficult to take a very long-term view on it,” he said.He said the Centre is trying to ensure that supply chains face the minimum possible disruption, while acknowledging that some trade numbers may soften in the near term.
Pharma sector already feeling supply pressure
The commerce secretary said the pharmaceutical sector has already seen some impact in the availability of key intermediates and solvents because supply chains are getting affected by the regional crisis.Agrawal said all arms of the government are working to prioritise limited LPG supply and are attempting to ease the situation by diversifying imports and sourcing from alternative suppliers.“So, as we are able to resolve that overall supply, we will try to alleviate some of the pain in every sector. The Pharma sector will be one of the priority sectors,” he said.He added that the government and industry are jointly working on ways to make supply chains more resilient.
Call for self-reliance in APIs, bulk drugs and intermediates
At the same event, Agrawal asked the pharmaceutical industry to use the current geopolitical uncertainty as a trigger to reduce dependence on critical imported inputs and strengthen domestic capacity.Addressing industry stakeholders in Hyderabad, he stressed “the importance of ensuring greater self-reliance by meeting 80-90 per cent (or higher) of domestic pharmaceutical requirements through indigenous production, while reducing critical import dependencies in APIs, bulk drugs, and intermediates”.He also emphasised the “importance of insulating import supply chains in a geopolitically fragmented world, where availability may be important”.Agrawal called for a broader strategic repositioning of India as a global hub for quality, affordable pharmaceuticals, saying that quality would remain the decisive factor in healthcare. He urged the sector to build a stronger quality ecosystem to enhance global trust and align with emerging areas such as biologics and biosimilars.He also encouraged the industry to shift from a volume-driven to a value-driven model, with greater focus on innovation and new patents, while maintaining India’s strength in generics.
Exports remain on positive path despite uncertainty
Despite the geopolitical overhang, Agrawal said India’s exports in the last financial year were expected to remain on a positive trajectory.The broader pharmaceutical export picture remains resilient. India’s pharma exports stood at $30.47 billion in 2024-25, up 9.4 per cent over the previous year.During April–February 2025-26, pharma exports reached $28.29 billion, registering growth of over 5 per cent compared with the corresponding period of the previous year.India remains the third-largest producer of pharmaceuticals globally by volume and 14th by value, underscoring both the sector’s scale and the stakes involved in insulating it from external shocks.
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