Market Setup
Indian markets are expected to open on a cautious note today amid mixed global cues and continued volatility in the IT pack. Overnight weakness in global tech stocks and uncertain foreign fund flows may keep sentiment range-bound in early trade. However, resilience in banking and domestic cyclicals could provide partial support.
Citi on Info Edge maintained Sell with a revised target of Rs.1120 cut from Rs.1300. While 3Q EBITDA beat estimates by 10 percent and recruitment revenues surprised positively, the brokerage cut FY27 and FY28 EPS by 14 percent and 9 percent citing slower hiring outlook and AI overhang. Valuation multiple was sharply reduced to 13x Sep27E EV EBITDA from 20x earlier.
A fresh artificial intelligence rollout by Anthropic has sent shockwaves across global technology markets, triggering a sharp sell-off in software and IT stocks. The company unveiled new AI capabilities under its Claude platform aimed at automating complex professional workflows, particularly in areas like legal documentation and corporate analysis. The move heightened investor fears that advanced AI agents could significantly disrupt traditional software-as-a-service (SaaS) business models.
Yesterday, on Mahashivratri, we honor Lord Shiva—the embodiment of wisdom, discipline, and destruction for renewal. While this festival holds deep spiritual significance, it also offers valuable lessons for another important aspect of our lives—personal finance and investing.
NIFTY OUTLOOK: 25471.10 | FII: Rs. -7395.41 cr. | DII: Rs. 5553.96 cr.
(16th – 20th February 2026)
As discussed in the previous report dated 9th February 2026, market behaviour remained on expected lines during the past week. Bulls attempted to surpass the resistance zone of 25865–25945 but failed, and the index slipped to a weekly low of 25444.
India’s primary market continues to see steady investor participation even as the secondary market remains volatile. Select IPOs are witnessing healthy subscription from institutional investors, reflecting confidence in quality offerings.
The Indian rupee traded in a narrow band against the US dollar as mixed global signals kept currency traders cautious. Dollar movement, crude oil prices and foreign fund flows remained key drivers for the domestic unit.
Midcap and smallcap segments witnessed selective accumulation even as frontline indices remained under pressure. Investors showed interest in fundamentally strong counters after the recent correction in the broader market.
Gold prices firmed up in domestic markets supported by safe-haven demand and global uncertainty. Weakness in the dollar and cautious equity sentiment also aided the yellow metal’s upward bias.
The Nifty 50 managed to hold crucial support levels during the session, though overall sentiment remained cautious. Intraday volatility persisted as investors booked profits in high-beta sectors.
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