Market Wrap

Indian equities opened strong and attempted to build on global positivity but failed to hold momentum through the session. The Nifty 50 slipped from intraday highs and closed marginally lower by 0.08%, just under the 24,650 mark. Sectorally, PSU banks were the day’s standout performers, with the index gaining over 1%, reflecting selective buying interest even as broader markets stayed muted. Global cues remained supportive, with both European and Asian equities trading higher after Wall Street’s firm close. Meanwhile, crude prices eased as OPEC+ signaled stable production, offering some comfort to oil-importing nations. On the domestic front, early policy chatter ahead of Union Budget 2026 hinted at a push for infrastructure spending and manufacturing-linked incentives, providing a potential medium-term tailwind for industrial and capital goods stocks.

What's Ahead

For the near term, Nifty’s inability to decisively cross the 24,800–24,850 resistance zone keeps upside momentum in check. Investors will closely track India’s upcoming fiscal deficit data and US Fed commentary on inflation, which may drive FII flows and set the tone for market direction. While PSU banks continue to display strength, sustained follow-through buying across sectors is needed to confirm a broader recovery.

Market Snapshots

Institiutional Activity

Sectoral Performance