TLDR
Market Recap: February 18, 2026
On February 18, Indian equities extended gains for a third straight session, recovering from an intraday dip as financials, PSU banks, and metals led late buying, while IT underperformed on persistent AI-related uncertainty. The BSE Sensex closed at 83,734.25, up 283.29 points (+0.34%), and the NSE Nifty 50 ended at 25,819.35, up 93.95 points (+0.37%). Broader markets stayed constructive with Nifty Midcap 100 and Nifty Smallcap 100 up about 0.5% each, while India VIX cooled to about 12.27, down roughly 0.40 points (-3.16%), signalling easing near term hedging demand.
Key Drivers :
Metals rebound on tariff chatter: Steel names firmed after reports that the US may simplify steel tariffs, supporting cyclical risk appetite.
PSU banks stay in charge: State-run lenders extended leadership, pushing the PSU bank index to fresh highs and improving breadth.
Flows turn supportive: FPIs were net buyers at about ₹1,154 crore, with DIIs also net buying around ₹440 crore, helping stabilize dips.
Today’s Top Stories:
Tata Steel leads metals: Tariff simplification chatter lifted steel names and helped metals outperform.
PSU banks at fresh highs: Nifty PSU Bank hit a new peak, with PNB and peers extending leadership.
Cigarette stocks spike: ITC and Godfrey Phillips jumped on reports of price hikes to offset the higher excise duty impact.
Dilip Buildcon pops: Stock rallied after emerging as L1 for a ₹702 crore Gujarat flood control project.
IT drags again: Nifty IT slipped as AI uncertainty kept pressure on large-cap names like Infosys.
Market Snapshot
CNBC
Nifty 50 Index Heatmap
Top Gainers & Losers
Trading View
TOP STORIES
1. Tata Steel Leads Metal Rally on Tariff Simplification Buzz
Gemini-2.5
Policy tailwind: Reports of US tariff simplification lifted global steel sentiment and triggered buying in Tata Steel and peers.
Cyclical reset: Investors treated the move as near term support for spreads and realisations across export-linked names.
Index impact: Metals outperformed and helped Nifty stay green despite continued IT weakness.
Tata Steel rallied on tariff simplification hopes. What’s your view?
2. PSU Banks Scale Fresh Highs, PNB Tops the Pack
Gemini-2.5
Index milestone: Nifty PSU Bank hit a fresh lifetime high with broad-based participation.
Leadership theme: Strong asset quality and earnings visibility kept state-run lenders in favour.
Market support: PSU banks offset weakness in IT and improved overall market breadth.
PSU banks hit new highs. Why the strength?
3. ITC, Godfrey Phillips Jump on Cigarette Price Hikes
Gemini-2.5
Pricing action: Cigarette makers moved quickly to pass on excise increases through price hikes.
Margin defence: Swift pricing signalled strong pricing power and limited EBIT damage.
Stock reaction: Godfrey Phillips surged sharply while ITC gained, leading FMCG momentum.
$ITC.NSE ( ▼ 2.06% )
Cigarette stocks jumped on price hikes. Signal?
4. Dilip Buildcon Rallies on ₹702 Crore Gujarat Project Win
Gemini-2.5
Order boost: Emerged L1 bidder for a ₹702 crore flood control project in Gujarat.
Execution visibility: Fresh inflow strengthened order book confidence and revenue pipeline.
Stock move: Shares rose about 4%, standing out among midcap gainers.
Dispersion theme: Clear divergence between banks and IT defined the session.
Dilip Buildcon won ₹702 crore project. Impact?
5. IT Slides Again as AI Uncertainty Caps Upside
Gemini-2.5
Sector drag: Nifty IT declined around 1%, remaining the key laggard.
Narrative pressure: Investors continued repricing AI-driven margin and demand risks.
Dispersion theme: Clear divergence between banks and IT defined the session.
IT slipped again on AI uncertainty. Your stance?
GYAANI HOT TAKES
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