{"id":10676,"date":"2026-02-23T11:37:35","date_gmt":"2026-02-23T11:37:35","guid":{"rendered":"https:\/\/lemonn.co.in\/blog\/?p=10676"},"modified":"2026-02-23T11:37:37","modified_gmt":"2026-02-23T11:37:37","slug":"indian-market-outlook-23-feb-2026-monday","status":"publish","type":"post","link":"https:\/\/lemonn.co.in\/blog\/market-updates\/indian-market-outlook-23-feb-2026-monday\/","title":{"rendered":"Indian Market Outlook – 23\u00a0Feb\u00a02026 (Monday)"},"content":{"rendered":"
\"nifty<\/figure>\n\n\n

Market snapshot<\/h2>\n\n\n\n

The domestic benchmarks kicked off the week on a firm note and closed near the day\u2019s high. Positive global cues and a sharp fall in crude oil prices outweighed continued weakness in IT shares. A summary of the closing values is given below.<\/p>\n\n\n\n

Major indices (23 Feb 2026)<\/h2>\n\n\n\n
Index<\/th>Close<\/th>% change vs previous close<\/th>Notes<\/th><\/tr><\/thead>
BSE Sensex<\/strong><\/td>83,294.66<\/strong><\/td>+0.58 %<\/strong><\/td>Gained ~480 points as value buying returned; financials and autos outperformed.<\/td><\/tr>
Nifty 50<\/strong><\/td>25,716.25<\/strong><\/td>+0.57 %<\/strong><\/td>Opened gap\u2011up and held gains to finish ~142 points higher.<\/td><\/tr>
Nifty Next 50<\/strong><\/td>69,693.90<\/td>+0.35 %<\/td>Supported by finance, power and pharma stocks.<\/td><\/tr>
Nifty Bank<\/strong><\/td>61,277.20<\/td>+0.17 %<\/td>Gains capped by weakness in some mid\u2011cap lenders; PSU banks provided support.<\/td><\/tr>
BSE 250 SmallCap<\/strong><\/td>6,366.01<\/td>+0.51 %<\/td>Small\u2011cap indices rose but lagged large\u2011caps.<\/td><\/tr>
BSE 150 MidCap<\/strong><\/td>16,051.62<\/td>\u22120.21 %<\/td>Mid\u2011cap index dipped slightly as profit\u2011taking surfaced.<\/td><\/tr>
Nifty 500<\/strong><\/td>23,486.15<\/td>+0.39 %<\/td>Reflects broader market advance.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Sectoral performance<\/h2>\n\n\n\n
Sector index<\/th>Close (LTP)<\/th>% change<\/th>Comments<\/th><\/tr><\/thead>
Nifty IT<\/strong><\/td>31,550.50<\/td>\u22121.42 %<\/strong><\/td>Downgrade of Indian IT stocks by Jefferies led to a 1.4 % fall. IT heavyweights (Infosys, Tech Mahindra, HCL Tech) were the biggest drag.<\/td><\/tr>
Nifty Auto<\/strong><\/td>28,077.00<\/td>+0.83 %<\/strong><\/td>Supported by optimism around GST cuts and long\u2011term growth in the auto industry.<\/td><\/tr>
Nifty FMCG<\/strong><\/td>52,136.35<\/td>+0.70 %<\/strong><\/td>Consumption stocks gained as companies expect volume\u2011led growth amid easing inflation.<\/td><\/tr>
Nifty Pharma<\/strong><\/td>22,578.55<\/td>+0.56 %<\/strong><\/td>India\u2013Brazil healthcare agreements and R&D pacts lifted pharma sentiment.<\/td><\/tr>
Nifty Oil & Gas<\/strong><\/td>12,151.15<\/td>+0.49 %<\/strong><\/td>Benefited from falling crude oil prices.<\/td><\/tr>
Nifty Healthcare<\/strong><\/td>14,632.60<\/td>+0.49 %<\/td>Gains followed pharma moves and hospital stocks.<\/td><\/tr>
Nifty Realty<\/strong><\/td>818.85<\/td>\u22120.23 %<\/td>Realty and infrastructure stocks saw profit\u2011taking.<\/td><\/tr>
Nifty Metal<\/strong><\/td>11,962.75<\/td>\u22120.23 %<\/td>Metal stocks lagged as investors booked profits.<\/td><\/tr>
Nifty Infra<\/strong><\/td>9,713.85<\/td>+0.85 %<\/td>Gains supported by broad\u2011based buying.<\/td><\/tr>
Nifty FMCG & Energy<\/strong><\/td>52,132.15 \/ 36,749.75<\/td>+0.69 % \/ +0.46 %<\/td>Defensive consumption and energy stocks witnessed steady inflows.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Key statistics and market breadth<\/h2>\n\n\n\n
    \n
  • Market breadth:<\/strong> On the NSE, 1,494 stocks advanced, 1,675 declined, and 109 were unchanged; 78 stocks hit 52\u2011week highs and 169 touched 52\u2011week lows.<\/li>\n\n\n\n
  • Volatility:<\/strong> India\u00a0VIX fell 1.32\u00a0% to 14.17<\/strong>, signalling reduced volatility.<\/li>\n\n\n\n
  • Trading statistics:<\/strong> Total market capitalisation stood at \u20b9465.29\u00a0lakh\u00a0crore.<\/li>\n\n\n\n
  • Foreign flows:<\/strong> Month to date, foreign institutional investors (FIIs) were net sellers of \u20b92,011.24\u00a0crore, while domestic institutional investors (DIIs) were net buyers of \u20b914,111.18\u00a0crore. The cautious FII behaviour continues but strong DII inflows provide support.<\/li>\n<\/ul>\n\n\n\n

    Top gainers and losers<\/h2>\n\n\n\n

    BSE\u00a0Sensex Top gainers\/losers<\/strong><\/h3>\n\n\n\n
    Top gainers<\/th>Price (\u20b9)<\/th>% change<\/th><\/tr><\/thead>
    Adani Ports & SEZ<\/strong><\/td>1,554.10<\/td>+2.82 %<\/strong><\/td><\/tr>
    Kotak Mahindra Bank<\/strong><\/td>430.75<\/td>+2.23 %<\/strong><\/td><\/tr>
    Nestl\u00e9 India<\/strong><\/td>1,319.00<\/td>+1.99 %<\/strong><\/td><\/tr>
    UltraTech Cement<\/strong><\/td>12,962.00<\/td>+1.55 %<\/strong><\/td><\/tr>
    Axis Bank<\/strong><\/td>1,388.60<\/td>+1.49 %<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
    Top losers<\/th>Price (\u20b9)<\/th>% change<\/th><\/tr><\/thead>
    Infosys<\/strong><\/td>1,328.00<\/td>\u22121.83 %<\/strong><\/td><\/tr>
    Tech Mahindra<\/strong><\/td>1,439.00<\/td>\u22121.25 %<\/strong><\/td><\/tr>
    HCL Technologies<\/strong><\/td>1,426.40<\/td>\u22120.74 %<\/strong><\/td><\/tr>
    IndusInd Bank<\/strong><\/td>919.70<\/td>\u22120.63 %<\/strong><\/td><\/tr>
    Bajaj Finserv<\/strong><\/td>2,047.00<\/td>\u22120.53 %<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

    Nifty\u00a050 Top gainers\/losers<\/strong><\/strong><\/h3>\n\n\n\n
    Top gainers<\/th>Price (\u20b9)<\/th>% change<\/th><\/tr><\/thead>
    Adani Ports & SEZ<\/strong><\/td>1,555.20<\/td>+2.89 %<\/strong><\/td><\/tr>
    Kotak Mahindra Bank<\/strong><\/td>430.80<\/td>+2.24 %<\/strong><\/td><\/tr>
    Dr Reddy\u2019s Laboratories<\/strong><\/td>1,308.10<\/td>+2.16 %<\/strong><\/td><\/tr>
    HDFC Life Insurance<\/strong><\/td>742.45<\/td>+1.89 %<\/strong><\/td><\/tr>
    UltraTech Cement<\/strong><\/td>12,987.00<\/td>+1.73 %<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
    Top losers<\/th>Price (\u20b9)<\/th>% change<\/th><\/tr><\/thead>
    Hindalco<\/strong><\/td>915.45<\/td>\u22122.16 %<\/strong><\/td><\/tr>
    Infosys<\/strong><\/td>1,326.60<\/td>\u22121.97 %<\/strong><\/td><\/tr>
    Wipro<\/strong><\/td>205.88<\/td>\u22121.90 %<\/strong><\/td><\/tr>
    Tech Mahindra<\/strong><\/td>1,438.80<\/td>\u22121.24 %<\/strong><\/td><\/tr>
    Cipla<\/strong><\/td>1,326.40<\/td>\u22121.10 %<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

    Broader market movers (selected)<\/strong><\/h3>\n\n\n\n
      \n
    • RailTel Corporation:<\/strong> +2\u00a0% after winning a modernisation contract from Maharashtra\u2019s Inspector\u2011General of Registration office.<\/li>\n\n\n\n
    • Adani\u00a0Ports & SEZ:<\/strong> +2.5\u00a0% after signing a strategic MoU with NMDC and Vale to develop an iron\u2011ore blending ecosystem at Gangavaram port.<\/li>\n\n\n\n
    • Pine\u00a0Labs:<\/strong> +3.5\u00a0% on securing multi\u2011year contracts from BPCL, HPCL and IOC to manage digital payments infrastructure.<\/li>\n\n\n\n
    • IDFC\u00a0First\u00a0Bank:<\/strong> \u201319\u00a0% after disclosing a \u20b9590\u00a0crore fraud involving accounts of the Haryana government.<\/li>\n<\/ul>\n\n\n\n

      What moved the market<\/h2>\n\n\n\n

      Positive drivers<\/h3>\n\n\n\n
        \n
      • US Supreme Court decision on tariffs:<\/strong> A ruling that struck down President Trump\u2019s sweeping import tariffs boosted global risk appetite. The ruling lifted hopes of improved global trade, even though Trump later signalled a temporary increase to 15\u00a0% on all imports.<\/li>\n\n\n\n
      • Value buying and sector rotation:<\/strong> Investors bought beaten\u2011down large\u2011caps such as Adani\u00a0Ports, Kotak\u00a0Mahindra\u00a0Bank, Power Grid, Axis Bank and Hindustan\u00a0Unilever. These stocks gained up to ~2.4\u00a0% intraday.<\/li>\n\n\n\n
      • Cooling crude oil prices:<\/strong> Brent crude slipped to ~$71 per barrel while West\u00a0Texas Intermediate fell to ~$65.73, easing inflation worries and supporting equity sentiment.<\/li>\n\n\n\n
      • Strengthening rupee:<\/strong> The rupee appreciated by ~21\u00a0paise to 90.73 per U.S.\u00a0dollar, helped by lower crude prices.<\/li>\n\n\n\n
      • Decline in volatility:<\/strong> India\u00a0VIX dropped over 1\u00a0% to ~14, indicating reduced market nervousness.<\/li>\n\n\n\n
      • Domestic institutional buying:<\/strong> DIIs continued to support the market with significant net purchases despite FIIs remaining net sellers for the month.<\/li>\n<\/ul>\n\n\n\n

        Headwinds<\/h3>\n\n\n\n
          \n
        • Tech drag:<\/strong> IT stocks remained under pressure due to a sector downgrade from Jefferies and concerns about AI\u2011driven disruption. Infosys, Tech\u00a0Mahindra, Wipro and HCL\u00a0Technologies all fell 0.7\u20132\u00a0%.<\/li>\n\n\n\n
        • Fresh tariff uncertainty:<\/strong> While the Supreme Court verdict removed earlier tariffs, Trump\u2019s announcement of a 15\u00a0% temporary tariff on all U.S. imports created a mixed picture, keeping traders cautious.<\/li>\n\n\n\n
        • Bank\u2011specific issues:<\/strong> IDFC\u00a0First\u00a0Bank and AU\u00a0Small\u00a0Finance Bank fell sharply after fraud reports and deposit withdrawals, weighing on the broader banking index.<\/li>\n<\/ul>\n\n\n\n

          Global cues<\/h3>\n\n\n\n
            \n
          • U.S. markets:<\/strong> On Friday the S&P\u00a0500 and Nasdaq gained up to 0.9\u00a0%, reflecting relief after the U.S. Supreme Court\u2019s tariff ruling.<\/li>\n\n\n\n
          • Asian markets:<\/strong> Hong\u00a0Kong\u2019s Hang\u00a0Seng index surged 649\u00a0points to 27,063, and Taiwan\u2019s Taiex added 167\u00a0points to 33,773. Japan\u2019s markets were closed for Emperor\u2019s Birthday, keeping overall Asian cues muted.<\/li>\n\n\n\n
          • Commodities and currencies:<\/strong> Brent crude fell over 1\u00a0%, and the U.S. dollar weakened, supporting emerging\u2011market currencies including the rupee.<\/li>\n<\/ul>\n\n\n\n

            Stocks to watch for 24 Feb 2026<\/h2>\n\n\n\n

            Indian equities are likely to focus on stock\u2011specific developments in the next session. Key names include:<\/p>\n\n\n\n

            Stock<\/th>Reason to watch<\/th><\/tr><\/thead>
            Clean Max Enviro Energy Solutions (IPO)<\/strong><\/td>The renewable\u2011energy firm\u2019s \u20b93,100\u00a0crore IPO opened on 23\u00a0Feb with a price band of \u20b91,000-1,053 per share; subscription trends will be in focus.<\/td><\/tr>
            PI Industries<\/strong><\/td>Trades ex\u2011dividend on 23 Feb; shares may adjust for the \u20b95\/share interim dividend.<\/td><\/tr>
            IDFC First Bank & AU Small Finance Bank<\/strong><\/td>Fraud investigation and deposit reduction by the Haryana government triggered sharp falls; follow\u2011up on regulatory responses is crucial.<\/td><\/tr>
            Prestige Estates<\/strong><\/td>Signed a deal with Bangalore Metro Rail for co\u2011branding and station upgrade; updates on real\u2011estate tie\u2011ups may drive sentiment.<\/td><\/tr>
            Cipla<\/strong><\/td>U.S. FDA gave a warning (OAI classification) to its Greek subsidiary after inspection; resolution measures will be tracked.<\/td><\/tr>
            PVR Inox<\/strong><\/td>Opened a new 7\u2011screen multiplex in Hubli, taking total screens to 1,798 across India.<\/td><\/tr>
            Narayana Hrudayalaya<\/strong><\/td>Acquired ~3.3 acres in Bengaluru to expand software and capability centres.<\/td><\/tr>
            NHPC<\/strong><\/td>Board approved \u20b92,709\u00a0crore investment in Uri Stage\u2011II and Dulhasti Stage hydro projects; commissioning expected from 1\u00a0Mar\u00a02026.<\/td><\/tr>
            NTPC Green Energy<\/strong><\/td>158.4 MW solar project in Andhra Pradesh became operational.<\/td><\/tr>
            Vedanta<\/strong><\/td>Board meeting on 25 Feb to consider fund\u2011raising via non\u2011convertible debentures.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

            Corporate updates<\/h2>\n\n\n\n
              \n
            • Adani\u00a0Ports & SEZ<\/strong> signed a memorandum of understanding with NMDC and Brazil\u2019s Vale\u00a0S.A. to build an iron\u2011ore blending and export hub at Gangavaram port. This strategic partnership could enhance Adani Ports\u2019 cargo mix and long\u2011term revenue visibility.<\/li>\n\n\n\n
            • RailTel<\/strong> (in consortium with Ashoka Buildcon) was selected as managed service provider for modernising the Maharashtra registration department offices, boosting its order book.<\/li>\n\n\n\n
            • Pine\u00a0Labs<\/strong> secured multi\u2011year contracts from BPCL, HPCL and IOC to maintain digital payments infrastructure across petrol pumps, signalling strong momentum in fintech services.<\/li>\n\n\n\n
            • IDFC\u00a0First\u00a0Bank<\/strong> disclosed a \u20b9590\u00a0crore fraud involving government accounts; the bank and authorities have initiated recovery efforts.<\/li>\n\n\n\n
            • India\u2013Brazil agreements<\/strong>: During President Lula da\u00a0Silva\u2019s visit, India and Brazil signed multiple MoUs, including a pact to develop a breast\u2011cancer medicine and research on strategic pharmaceutical ingredients. These agreements boosted pharma stocks.<\/li>\n<\/ul>\n\n\n\n

              Technical levels and outlook for 24 Feb 2026<\/h2>\n\n\n\n

              Technical view<\/h3>\n\n\n\n

              Market experts expect the next session to be range\u2011bound with a positive bias after Monday\u2019s rally. According to Anil Singhvi\u2019s<\/strong> trading strategy and broader technical analysts:<\/p>\n\n\n\n

                \n
              • Nifty\u00a050:<\/strong>\n
                  \n
                • Support zone:<\/strong> 25,475\u201325,575; stronger buy zone around 25,375\u201325,450.<\/li>\n\n\n\n
                • Higher\/profit\u2011booking zone:<\/strong> 25,665\u201325,765; profit booking expected at 25,815\u201325,935.<\/li>\n\n\n\n
                • Stop\u2011loss for longs:<\/strong> 25,375 (intraday) and 25,450 (closing).<\/li>\n<\/ul>\n<\/li>\n\n\n\n
                • Nifty\u00a0Bank:<\/strong>\n
                    \n
                  • Support zone:<\/strong> 60,875\u201361,000; strong buy zone at 60,550\u201360,750.<\/li>\n\n\n\n
                  • Higher\/profit\u2011booking zone:<\/strong> 61,350\u201361,500; profit booking at 61,550\u201361,750.<\/li>\n\n\n\n
                  • Stop\u2011loss for longs:<\/strong> 60,550 (intraday) and 60,750 (closing).<\/li>\n<\/ul>\n<\/li>\n\n\n\n
                  • Sensex:<\/strong> Technical analysts at ET\u00a0Now highlight resistance at 83,000<\/strong> and the 83,500\u201383,800 band; support lies at 82,300<\/strong> and deeper support at 82,000<\/strong>. A close above resistance would confirm further upside, while a break below support could trigger profit\u2011taking.<\/li>\n<\/ul>\n\n\n\n

                    Expected tone for the next trading day<\/h3>\n\n\n\n
                      \n
                    • Bias:<\/strong> Cautiously positive.<\/strong> The indices have recouped recent losses and closed above key support levels, but the rally is built on external news (tariff ruling and drop in oil). Near\u2011term momentum may remain tentative, especially if global markets turn volatile.<\/li>\n\n\n\n
                    • Key drivers to watch:<\/strong>\n
                        \n
                      • Global trade headlines following the US tariff ruling and any retaliatory measures.<\/li>\n\n\n\n
                      • Subscription response to the Clean\u00a0Max\u00a0Enviro IPO.<\/li>\n\n\n\n
                      • Movement in crude oil prices and the rupee.<\/li>\n\n\n\n
                      • FII\/DII flows and any further corporate announcements (particularly IDFC\u00a0First\u00a0Bank fraud developments).<\/li>\n\n\n\n
                      • Performance of IT stocks after recent downgrades.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
                      • Strategy:<\/strong> Traders may adopt a buy\u2011on\u2011dips approach near the support zones and consider booking profits as the Nifty approaches the upper end of the highlighted range. Caution is advised in IT and mid\u2011cap banks due to sector\u2011specific headwinds.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

                        Market snapshot The domestic benchmarks kicked off the week on a firm note and closed near the day\u2019s high. Positive global cues and a sharp fall in crude oil prices outweighed continued weakness in IT shares. A summary of the closing values is given below. Major indices (23 Feb 2026) Index Close % change vs previous close Notes […]<\/p>\n","protected":false},"author":3,"featured_media":8209,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_ayudawp_aiss_exclude":false,"footnotes":""},"categories":[512],"tags":[],"class_list":["post-10676","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-updates"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts\/10676","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/comments?post=10676"}],"version-history":[{"count":1,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts\/10676\/revisions"}],"predecessor-version":[{"id":10677,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts\/10676\/revisions\/10677"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/media\/8209"}],"wp:attachment":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/media?parent=10676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/categories?post=10676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/tags?post=10676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}