The Indian equity markets witnessed a day of intense tug-of-war between bulls and bears on February 26, 2026. After a promising start fueled by global optimism, the benchmark indices pared most of their intraday gains to settle on a flat note. The session was characterized by sharp swings as sectoral rotation and heavy selling in private banking majors kept the upside in check.
Market Closing Numbers
At the final bell, the BSE Sensex stood at 82,248.61, down 27 points or 0.03 percent. Similarly, the NSE Nifty 50 managed a marginal gain of 14 points, or 0.06 percent, to close at 25,496.55. Despite the subdued closing, the broader market showed some resilience, with mid-cap and small-cap indices attempting to hold steady against the volatility seen in large-cap heavyweights.
HDFC Bank Leads the Drag
The primary catalyst for the afternoon slide was the selling pressure in financial heavyweights, most notably HDFC Bank. The private lender saw its stock price slip by approximately 1 percent during the session, acting as the biggest weight on both the Nifty 50 and the Bank Nifty. Traders cited institutional caution and a shift in risk appetite as reasons for the weakness in the banking bellwether, which offset the positive momentum seen in other pockets of the market.
IT Stocks Spark Early Hope
Earlier in the day, the markets opened on a strong footing, tracking a massive rally in the US markets overnight. The spark was provided by blowout earnings from global AI chip leader Nvidia, which rejuvenated interest in the Indian technology sector. IT majors like Tech Mahindra, Infosys, and TCS were among the top gainers in the early hours, rising up to 2 percent. However, as the session progressed, profit booking at higher levels and a weak opening in European markets cooled the initial euphoria.
Gainers and Losers of the Day
- Top Gainers: The session belonged to the bulls in the Auto and Defense space. Tata Motors and Bharat Electronics (BEL) led the charts, rising over 2 percent each. Other notable gainers included Max Healthcare and Eicher Motors.
- Top Losers: On the flip side, Power Grid, Trent, and NTPC joined HDFC Bank in the red. The FMCG and Realty sectors also faced downward pressure, extending their losing streak for the fourth consecutive day.
Expert Market Outlook
Technical analysts observe that the Nifty is currently hovering between its 100-day and 200-day moving averages, suggesting a period of consolidation. While the immediate support is pegged at 25,300, a decisive breakout above the 25,700–25,800 resistance zone is required to signal a fresh leg of the rally. Investors are advised to maintain a selective approach, focusing on quality stocks with strong earnings visibility amidst the current global uncertainty.
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