Mumbai, Feb 22, 2026, 11:27 IST — Market closed
- Nifty 50 rose 0.46% on Friday; investors now scan global trade shifts and oil risks into Monday
- India VIX climbed last week, signalling higher demand for hedges as the index stays range-bound
- A new GDP series due Feb. 27 and tighter F&O margins from midweek could shift positioning
Indian stocks head into Monday with global trade policy back in focus after the U.S. Supreme Court struck down President Donald Trump’s sweeping tariff programme and he moved to raise a temporary worldwide duty to 15%. The shift is expected to feed into risk appetite across Asia at the start of the week. (Reuters)
For Dalal Street, the timing is awkward. The Nifty traded between 25,372.70 and 25,885.30 last week and the India VIX — the market’s volatility gauge — rose 8.05% to 14.36. (The Economic Times)
Domestic numbers could do their own damage, or repair. The statistics ministry is due to release a new GDP series with a 2022-23 base on Feb. 27, and traders will watch for any shift in the growth backdrop that changes rate expectations. (Stats & Program Implementation)
The Nifty 50 rose 0.46% on Friday to close at 25,571.25, while the Sensex gained 0.38% to end at 82,814.71, a day after a sharp sell-off. PSU banks and metals led, while IT shares such as Tech Mahindra and Infosys were among the laggards. Geojit’s Vinod Nair said “near-term moves are likely to stay flow-driven amid global uncertainties.” (Business Today)
Technically, analysts point to resistance near the 21-day EMA (exponential moving average), a trend line that reacts quickly to recent prices. Rupak De of LKP Securities said the index was “expected to oscillate in the 25,300-25,800 range,” with support seen near 25,500. Friday’s data showed foreign institutional investors sold 934.61 crore rupees, while domestic funds bought 2,637.15 crore, and ETMarkets flagged three mainboard IPOs lined up for the week. (The Economic Times)
Foreign flows have been the swing factor. Foreign portfolio investors (FPIs), often called FIIs in India, have turned net buyers in February, with total investment of about 16,912 crore rupees through Feb. 20, NSDL data cited by The Economic Times showed. Dr VK Vijayakumar of Geojit said “FPIs were buyers on nine out of the last sixteen trading days” of the month. (The Economic Times)
Macro data still look firm, but not clean. HSBC’s flash India composite PMI, compiled by S&P Global, rose to 59.3 in February from 58.4, and the survey pointed to intensifying price pressures; a PMI reading above 50 signals expansion. (The Economic Times)
The Reserve Bank of India’s policy panel has signalled patience. Minutes showed the Monetary Policy Committee kept the policy rate at 5.25% and held to a neutral stance, with members pointing to the wait for new GDP and inflation series. Deputy governor Poonam Gupta wrote that “another rate cut does not seem warranted at this point in time.” (The Economic Times)
On the micro side, the NSE said it will impose an extra 15% exposure margin on 18 futures-and-options stocks from the March series, applying where the top 10 clients hold more than 20% of the Market Wide Position Limit (MWPL), a cap on total derivatives positions. The framework takes effect from Feb. 25 after the expiry of February contracts, and includes Vodafone Idea, SAIL, Bandhan Bank and DLF among the names flagged. (The Economic Times)
But this market has a short fuse. On Feb. 19, the Sensex dropped 1,236 points and the Nifty fell 365 points as broad selling hit sectors across the board, a reminder that one bad global cue can still swamp local dip-buying. (mint)
The week’s cleanest domestic marker is Friday’s data drop. India is scheduled to release the new GDP series on Feb. 27, and traders will be watching for any surprise that forces a rethink on growth and rates. (Gov)
