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Tata Investment Shares Fall 3% Following Deferral of Tata Sons Leadership Reappointment Discussions
Tata Investment Corporation shares experienced a sharp decline on Tuesday, dropping over **3%** to trade near **ā¹667** on the National Stock Exchange. The stock saw significant volatility, fluctuating between an intraday high of **ā¹685.30** and a low of **ā¹663.15**. This downward movement follows a period of heightened activity where the market capitalization stood at approximately **ā¹34,819 crore**. The primary driver for this slump is the reported friction within the Tata Sons board. Executive Chairman N Chandrasekaran requested a postponement of discussions regarding his reappointment for a third term. This request came after disagreements surfaced during a high-stakes board meeting held on Tuesday. Tata Trusts Chairman Noel Tata raised critical concerns regarding the financial performance of the groupās newer ventures. Specifically, he highlighted losses stemming from high-profile acquisitions and digital platforms, including Air India and BigBasket. Noel Tata reportedly outlined four specific conditions for the Chairmanās extension, emphasizing debt reduction and the containment of losses in these "new-age" businesses. While other board members supported Chandrasekaran, attributing the losses to the natural gestation period of greenfield investments, the Chairman opted for deferment. He stated that the institution must move forward with a unified decision between Tata Sons and Tata Trusts. Chandrasekaranās current term is not set to expire until February **2027**. However, the proposal for a third five-year term would extend his leadership until **2032**. Such an extension would require a special resolution, as it involves a waiver of the group's traditional retirement age of **65** for non-executive roles. Chandrasekaran will turn **63** this June. Investors are closely watching these developments as they signal potential shifts in capital allocation and governance. Despite the recent dip, Tata Investment Corporation has shown resilience over the past year, supported by a **1:10** stock split in late **2025** aimed at boosting retail liquidity. The company recently reported a net profit of **ā¹75 crore** for the third quarter, a substantial jump from **ā¹20 crore** in the previous year. However, the current leadership uncertainty at the holding company level continues to weigh on the stock's immediate sentiment. Clearer alignment between the Trusts and the Board will be essential to stabilizing the market outlook.
Natco Pharma and Eris Lifesciences Partner to Launch Semaglutide in India
Shares of **Natco Pharma** and **Eris Lifesciences** surged on Tuesday, February 24, 2026, following the announcement of a strategic partnership to commercialize **Semaglutide** in the Indian market. The collaboration aims to leverage Natcoās manufacturing and regulatory capabilities alongside Eris's extensive commercial reach in the diabetes and metabolic care segments. Natco Pharma recently secured approval from the Central Drugs Standard Control Organization (**CDSCO**) to manufacture the generic version of the blockbuster GLP-1 drug, which is widely used for Type 2 diabetes and chronic weight management. Market Reaction and Price Action The announcement triggered a strong rally in both stocks during Tuesday's trading session: * **Natco Pharma:** Shares jumped **5.8%** to reach **ā¹944.75** on the NSE. This marked the stock's highest level since early January, with heavy trading volumes exceeding **10.3 million** shares. * **Eris Lifesciences:** The stock climbed **2.83%** to finish at **ā¹1,391.00**, extending its winning streak to a third consecutive session. The Semaglutide Opportunity The partnership is timed to capitalize on the patent expiry of the innovator molecule in India, scheduled for **March 2026**. Generic entry is expected to drastically reduce treatment costs. While innovator brands currently retail between **ā¹8,800** and **ā¹11,175** per month, market estimates suggest generic versions could eventually retail for approximately **ā¹5,000**, making the therapy accessible to India's vast middle-class population. Sector Outlook The Indian GLP-1 receptor agonist market is projected to grow at a **19.1% CAGR** from 2026 to 2033, potentially reaching a revenue of **$730.8 million**. India currently houses approximately **135 million** pre-diabetic adults and is the worldās largest sugar consumer. The shift toward more affordable, locally manufactured Semaglutide is seen as a major catalyst for the domestic pharmaceutical sector, as firms like Natco and Eris position themselves to lead the next generation of metabolic care. Eris has invested nearly **ā¹4,000 crore** over the last three years to strengthen its chronic therapy portfolio, including its recent acquisition of Bioconās domestic branded formulations business. For Natco, the deal provides a high-volume commercial outlet for its complex generic pipeline.
Eternal Shares Fall 6% Amid Broad Market Sell-Off
Eternal Market Update Shares of **Eternal Limited** faced intense selling pressure today, February 24, 2026, dropping **5.28%** to close at **ā¹254**. This sharp decline positions the stock as a primary drag on the Sensex, which struggled to maintain momentum amidst a volatile session. The stock reached an intraday low of **ā¹251.80**, marking a significant retreat from its 52-week high of **ā¹368.45**. Technical indicators confirm a weakening trend as the price has slipped below key short-term and long-term benchmarks. Eternal is currently trading below its **50-day EMA of ā¹285** and its **200-day EMA of ā¹278**, signaling a bearish crossover. The relative strength index (RSI) has dipped toward **41**, reflecting a shift in investor sentiment from optimistic to cautious. Q3 Performance and Growth Engines Despite the current market correction, the companyās Q3 FY26 earnings revealed significant operational scale. Consolidated revenue surged **201% year-on-year** to **ā¹16,315 crore**, while net profit grew **73%** to reach **ā¹102 crore**. Much of this top-line jump is attributed to a structural shift in the quick commerce accounting model. **Blinkit** continues to serve as the primary growth driver. The quick commerce arm achieved a critical milestone by reaching **Adjusted EBITDA breakeven** for the first time with a profit of **ā¹4 crore**. The segment added **211 stores** during the quarter, bringing the total network to **2,027 dark stores**. Management remains committed to a target of **3,000 stores** by March 2027. The food delivery vertical remains a stable contributor to the bottom line, with a net order value growth of **17%**. However, the **Going-out** segment reported widened losses of **ā¹121 crore** as the company aggressively invests in its new "District" platform and live events. Market Sentiment and Outlook Investor sentiment has been dampened by recent leadership changes. The transition of founder Deepinder Goyal from Group CEO to Vice Chairman on February 1, 2026, has introduced near-term uncertainty. The stock has now declined roughly **23%** from its October peaks. While analysts maintain a long-term bullish outlook with targets near **ā¹340**, immediate pressure persists due to rising competition in the instant delivery space and broader macro headwinds affecting the high-valuation tech sector. Current support is anticipated in the **ā¹240āā¹250** zone. A failure to hold these levels could invite further technical selling toward the **ā¹230** mark. Conversely, a sustained move back above **ā¹280** is required to invalidate the current bearish setup.
HSBC Analysis of the Structural Relationship Between Artificial Intelligence and the Software Sector
Market Brief: The AI Integration Shift Enterprise software is undergoing a fundamental transformation as Artificial Intelligence shifts from a standalone tool to a core, embedded layer. Recent data indicates that the "AI-as-a-layer" model is stabilizing the sector, with total global AI spending projected to reach $2.5 trillion in 2026, a 44% increase year-over-year. Legacy software giants are emerging as primary winners in this transition. Major providers like Salesforce, Oracle, and Microsoft are successfully integrating "agentic AI" into their existing ecosystems. These autonomous agents handle high-value tasks that were previously difficult to automate, such as complex research and service-desk management. The software sector is currently navigating a period of valuation correction. The S&P 500 Software & Services Index has seen significant volatility, recently trading down 12.6% over a one-month period as of late February 2026. However, demand remains robust, with large enterprises leading the charge. Approximately 59% of IT professionals at large firms have confirmed active AI deployment. Market trends suggest AI is becoming a supporting infrastructure rather than a replacement for enterprise platforms. This "subordinated AI" approach reduces risks like non-deterministic errors by keeping intelligence within the guardrails of proven software stacks. This method is driving a massive increase in AI inference demand, justifying the global expansion of data centers. Cloud solutions remain the dominant delivery model, accounting for over 71% of the AI market share. Meanwhile, the generative AI software segment is expanding at a 29% compound annual growth rate. This growth is increasingly fueled by specialized, domain-specific tools rather than broad, general-purpose models. Industry sentiment is shifting from "AI euphoria" to a focus on operational efficiency. While 88% of organizations now use AI in at least one business function, only about one-third have scaled these programs across the entire enterprise. This gap provides a significant runway for legacy vendors to expand their footprint as they roll out mature, embedded agents to their global customer bases. Strategic independence and "Sovereign AI" are also becoming priorities, with more companies factoring a solutionās country of origin into their vendor selection. This ensures that AI deployment remains compliant with local laws and infrastructure, further cementing the role of established software providers who have existing trusted relationships and robust compliance frameworks in place.
Indian Rupee Declines Amid Equity Weakness and NDF Maturities as RBI Intervention Limits Losses
Indian Rupee Market Brief: February 24, 2026 The Indian rupee faced downward pressure during Tuesday's trading session, closing lower at **90.87** against the US dollar. The currency remains caught between conflicting forces as global trade policy shifts and domestic equity sell-offs dictate market sentiment. Renewed uncertainty regarding US trade policy has weighed heavily on emerging market assets. Markets are currently digesting a series of tariff adjustments following a US Supreme Court ruling, with a temporary **15%** levy on various imports causing concern. While India's effective tariff rate is projected at a more favorable **11% to 13%** compared to regional peers, the broader climate of unpredictability has spurred dollar demand. Equity Market Drag The domestic equity market experienced a significant downturn, which directly impacted the rupeeās performance. The BSE Sensex plunged by **1,068.73** points to end at **82,225.92**, while the Nifty 50 dropped **288.35** points to settle at **25,424.65**. A sharp **4.74%** crash in the Nifty IT index was a primary driver for the sell-off. Concerns over automation and shifts in the global labor-arbitrage model led to heavy selling in major technology stocks. This sparked an outflow of capital as foreign investors turned cautious, increasing the local demand for the greenback. Central Bank and Reserves The Reserve Bank of India (RBI) continued its strategy of active intervention to prevent excessive currency volatility. Despite the rupeeās slip toward the **91** level, central bank actions helped cap deeper losses. Indiaās foreign exchange reserves remain a robust buffer, currently standing at **$725.7 billion**. This high level of reserves provides the RBI with significant ammunition to manage sharp fluctuations, even as the national trade deficit for January widened to **$34.7 billion**. Global Factors External pressures remain elevated as Brent crude oil prices hovered near **$72** per barrel. As a major oil importer, rising energy costs put additional strain on India's trade balance and the value of the rupee. The US Dollar Index (DXY) showed signs of resilience, trending toward the **98** mark. This strength, coupled with strong dollar demand in the non-deliverable forwards (NDF) market, created a challenging environment for local currency gains. Investors are now looking toward upcoming domestic GDP data and the evolving trade relationship with Washington to determine the rupee's trajectory in the coming weeks.
Indian Investors Gain Direct Access to Global Metals and Mining Stocks
Market volatility has intensified as of **February 24, 2026**, driven by a combination of shifting trade policies, stubborn inflation data, and heightened geopolitical tensions in the Middle East. Global equities are under pressure as investors recalibrate expectations for interest rate cuts following a recent string of economic reports. Equity Markets and Indices The major Wall Street indices have retreated sharply. The **Dow Jones Industrial Average** fell **1.66%** to close at **48,804**, while the **S&P 500** declined **1.04%** to **6,837**. The tech-heavy **Nasdaq Composite** also finished lower, shedding **1.13%** to end the session at **22,627**. Sentiment was further dampened by a **10%** surge in the **VIX**, which reached **21.01**, signaling increased fear among market participants. In Europe, the **DAX** in Germany dropped **1.06%**, even as manufacturing data showed its first expansion since 2022. Conversely, the **Hang Seng** in Hong Kong provided a rare bright spot, gaining **2.53%** as Chinese traders returned from the Lunar New Year holiday. Inflation and Interest Rates Recent macro data has complicated the path for monetary policy. The **Core PCE inflation** rate rose to **3.0%**, exceeding the previous **2.8%** and moving further from the Federal Reserve's target. Simultaneously, **Q4 GDP** growth slowed significantly to **1.4%** on an annualized basis. This "stagflationary" signal has led markets to price out a spring rate cut. The **Federal Reserve** held interest rates steady in the **3.5% to 3.75%** range during its last meeting. Current projections now suggest the first potential reduction may not arrive until **July 2026**, as policymakers wait for clearer evidence of cooling prices. Commodities and Digital Assets Commodity markets are reacting to the "risk-off" environment. **Gold** has surged **2.35%** to **$5,227** per ounce, hitting its highest level in weeks as investors seek safety amid trade uncertainty. **Crude Oil (WTI)** has also climbed, rising to **$66.51** per barrel, supported by a risk premium related to military assets moving into the Middle East. In the digital asset space, **Bitcoin** has struggled to maintain momentum. The cryptocurrency fell to a two-week low near **$64,000** before stabilizing. Analysts point to **ETF outflows** and a general lack of conviction-driven buying as the primary factors keeping prices below the **$67,000** resistance zone. Technology and Sector Trends The technology sector is undergoing a transition from hype to practical application. Industry forecasts for **2026** suggest a shift toward "Cloud 3.0," where cloud infrastructure is being redesigned as the operational backbone for sovereign and private AI systems. In India, the tech sector is projected to grow by **6.1%** this fiscal year, reaching **$315 billion** in revenue. While hiring in traditional software services has slowed, demand for specialized AI-led services and automotive camera modulesācritical for autonomous drivingācontinues to expand, with the latter market entering a decade-long transformation.
IDFC First Bank Shares Edge Up 3% Following Refund of Rs 556 Crore to Haryana Government
Market Brief: IDFC First Bank Recovery and Performance IDFC First Bank shares experienced significant volatility today, February 24, 2026, following critical updates regarding a fraud case involving Haryana government-linked accounts. The stock managed a partial recovery, trading around **70.80** after a sharp **16%** slump in the previous session. Intraday movement saw the scrip hit a low of **68.50** before momentum shifted. High trading activity was recorded with a volume of over **5.79 crore** shares, reflecting a traded value of approximately **405.76 crore**. This liquidity spike came as investors reacted to confirmation of fund recovery. Fraud Recovery and Government Action Haryana Chief Minister Nayab Singh Saini informed the State Assembly today that the government has successfully recovered nearly **556 crore**, including **22 crore** in interest. The recovery was processed within **24 hours**, significantly easing immediate concerns over capital loss. The incident was localized to a single branch in Chandigarh and involved four to five middle-and-lower-rung employees. These individuals allegedly colluded with external parties to process forged physical cheques. The bank has officially clarified that no digital breach occurred and the issue is confined to this specific account cluster. Financial Safeguards and Outlook IDFC First Bank has paid **100%** of the principal and interest, totaling **583 crore**, to the Haryana Government departments. Despite this payout, the bank maintains that it will remain profitable. Management has indicated that provisions will be taken, supported by an employee-fraud insurance cover of up to **35 crore**. To ensure transparency, the bank appointed KPMG to conduct an independent forensic audit, expected to conclude within four to five weeks. Four officials have been suspended, and a police FIR has been filed to pursue criminal action against all involved parties. Sector Context and Indicators The broader banking sector remains robust, with the Nifty Bank index rising **1.64%** recently. While IDFC First Bank faces specific headwinds, its fundamentals as of late 2025 showed a Capital Adequacy Ratio of **16.22%** and a CASA ratio of approximately **50%**. The bank's current market capitalization stands near **60,000 crore**. Investors are now focusing on the forensic audit results and the bank's ability to maintain its **5.76%** Net Interest Margin amidst these localized operational challenges.
Sify Infinit Seeks $4.2 Billion Valuation in India IPO
Sify Infinit Spaces is preparing to launch Indiaās first pure-play data center initial public offering. The company is reportedly seeking a valuation of up to 4.2 billion USD as it begins investor meetings this month. The 37 billion rupee offering is structured to support massive infrastructure expansion. It consists of a fresh issue of shares worth 25 billion rupees and a secondary sale of 12 billion rupees from existing investors, including the Kotak Data Center Fund. This capital influx is vital for the companyās ambitious roadmap. Approximately 13.25 billion rupees are earmarked for completing data center towers in Chennai and Navi Mumbai. Additionally, 6 billion rupees will be used to reduce existing debt, which stood at 27.39 billion rupees as of mid-2025. The parent company, Nasdaq-listed Sify Technologies, has seen significant market movement recently. Its share price reached a 52-week high of 17.85 USD, reflecting growing global interest in Indian digital infrastructure. While the parent group has faced profitability hurdles, Sify Infinit remains a profitable entity, reporting a net profit of 1.26 billion rupees for fiscal 2025. Operational metrics show a strong reliance on high-scale clients. Hyperscalers currently contribute 67.81% of total revenue. As of June 2025, the company operates 14 facilities across six major cities, providing a total IT power capacity of 188.04 megawatts. Market tailwinds are driving this aggressive valuation. Indiaās data center sector is projected to grow from 9.79 billion USD in 2025 to over 21 billion USD by 2031. This expansion is fueled by a 33% annual growth rate in AI-ready capacity and government mandates on data localization. Major global players like Microsoft and Google have already committed billions to the Indian market, validating the sectorās potential. Sify Infinit is positioning itself at the center of this boom by certifying its newest facilities for high-density AI workloads using advanced liquid cooling technologies. Investors are closely watching this IPO as a benchmark for the industry. If successful, it will set the valuation standard for other Indian data center operators looking to tap into public markets. The offering provides a direct avenue for backing the physical infrastructure that powers Indiaās rapidly evolving digital economy.
Zinc Market Outlook: Analyzing Post-Surge Consolidation and Strategic Entry Points
Zinc prices are demonstrating resilience as of February 24, 2026, with the Multi Commodity Exchange (MCX) witnessing a 2% climb to **Rs 332** per kilogram. This upward movement is mirrored on the London Metal Exchange (LME), where futures are trading near a three-year high of **$3,403** per tonne. The rally is fundamentally driven by a tightening supply chain. Global exchange inventories have seen significant depletion, with LME stocks currently hovering around **103,500 tonnes**, down from over **230,000 tonnes** at the start of last year. This low-stock environment is compounded by persistent mine disruptions and smelter output curbs in key regions such as Japan and Kazakhstan. In the domestic market, the tone remains positive as zinc outperforms other base metals like copper. Technical indicators suggest that the current momentum is sustainable as long as prices remain above the critical support level of **Rs 322**. Analysts anticipate a fresh surge in trading volume and price action as Chinese markets fully resume operations following recent holiday closures. Demand remains anchored by the global push for electrification and substantial investments in data center infrastructure. These sectors are offsetting broader macroeconomic headwinds, maintaining steady consumption for galvanizing processes. While mine output is projected to grow by **2.4%** later this year, the immediate market remains characterized by a supply deficit and low treatment charges. Market participants are currently focused on the upcoming "Two Sessions" meeting in China for cues on further economic stimulus. Any policy shifts regarding infrastructure or the property sector are expected to provide additional tailwinds for the metal. For now, the prevailing strategy among traders continues to favor "buy-on-dips," supported by the metal's strong position above major moving averages.
Top 10 High-Growth Unlisted Companies Preparing for Potential IPOs
Indiaās unlisted corporate sector has reached a historic scale, with the top 100 private giants generating a staggering ā¹8.9 lakh crore in combined revenue during 2025. This massive financial engine is now fueling a robust IPO pipeline that is projected to exceed ā¹2.5 lakh crore in total fundraising throughout 2026. Reliance Retail holds the definitive top spot as the country's largest unlisted company. It reported a massive annual revenue of ā¹2.7 lakh crore for 2025, supported by an expansive footprint of over 19,300 stores. The retail powerhouse achieved an EBITDA of ā¹25,094 crore, reflecting an 8.6% year-on-year growth. Flipkart follows as a primary contender in the e-commerce space, recording ā¹83,105 crore in revenue for the recent fiscal year. The company has significantly narrowed its losses and is actively shifting its domicile to India to prepare for a public debut. Analysts estimate Flipkartās potential valuation between $60 billion and $70 billion. The financial landscape is also dominated by the National Stock Exchange (NSE), which remains the most valuable unlisted entity with an estimated market valuation of ā¹4.7 lakh crore. Other key players include Serum Institute of India, valued at ā¹2.1 lakh crore, and tech-leader Zoho Corporation, which maintains a valuation of approximately ā¹1.04 lakh crore. Sectoral shifts show that traditional retail is now being joined by new-economy leaders. Tata Electronics reported revenues of ā¹66,601 crore, while the electric vehicle arm, Tata Passenger Electric Mobility, clocked ā¹15,247 crore. Fintech giants like PhonePe are also advancing, with a planned $1.5 billion IPO targeting a valuation of up to $15 billion in 2026. Investor sentiment remains high after a record-breaking 2025, which saw 93 mainboard IPOs raise over ā¹1.76 lakh crore. While retail participation has moderated, domestic mutual funds have emerged as a dominant force, overtaking foreign portfolio investors in anchor allocations. The upcoming wave of listings is expected to transition from speculative growth stories to mature, profitable enterprises. With over 190 companies currently in the regulatory pipeline, the focus has shifted toward firms with transparent governance and clear paths to profitability.
NBFC Earnings Premium Moderates Requiring Selective Investment Approach
Market Overview: NBFC Sector Outlook 2026 The Non-Banking Financial Company (NBFC) sector is entering a high-stakes phase as 2026 unfolds. While credit growth remains robust, the premium that NBFCs once held over traditional banks is narrowing. Investors are currently prioritizing selective positioning as valuations remain elevated and margin pressures intensify across the board. Industry assets under management (AUM) are on a trajectory to cross the ā¹50 lakh crore milestone by March 2027. Despite this scale, the sector is navigating a complex landscape of tighter regulations and shifting profitability. The era of easy growth is being replaced by a focus on diversified liability franchises and digital efficiency. Growth and Credit Performance NBFC credit expansion is projected at 15ā17% for FY26, consistently outpacing the 12ā13% growth seen in the banking system. Total NBFC credit is expected to expand by up to ā¹2.4 trillion this year alone. However, this growth is increasingly uneven across sub-sectors. Gold loans and vehicle finance are emerging as the primary engines of momentum. Gold loan providers are seeing AUM growth as high as 30ā35% as they formalize unorganized market shares. Meanwhile, vehicle finance remains a structural stronghold, expected to maintain 16ā17% growth through 2027, driven by GST-related demand and a rising used-vehicle market. Margin Pressures and Valuation Risks Profitability is under scrutiny as Net Interest Margins (NIM) face headwinds. Systemic NIMs for NBFCs currently hover around 6.6%, but the cost of funds remains high. While recent repo rate cuts in late 2025 provided some relief, the benefits are only expected to fully manifest in the latter half of 2026. Valuations for large NBFCs continue to command a premium, yet the earnings growth gap over banks is shrinking. This has led to a "guarded" market bias. In the recent trading week ending February 20, 2026, financial stocks helped the Sensex recover to 82,814.7, but volatility remains high as institutional investors weigh the risks of margin compression against high entry prices. Regulatory and Digital Transformation The Reserve Bank of India (RBI) is tightening the screws with new frameworks effective in 2026. Stricter co-lending rules now mandate a 10% risk retention for all partners and enforce a 15-day settlement window. Furthermore, new gold loan guidelines effective April 2026 will require detailed credit assessments for loans exceeding ā¹2.5 lakh, ending the era of simplified processing for large tickets. Digital lending is no longer a peripheral trend but the core driver of sector evolution. Digital-first NBFCs are projected to see personal loan portfolios grow at a CAGR of 26ā28% through 2030. Success is increasingly tied to AI-powered "real-time" underwriting, which can reduce disbursement times by 50% and lower operational costs. Strategic Positioning Larger, diversified NBFCs with strong liability advantages are best positioned to withstand current pressures. Smaller players remain heavily dependent on bank funding, making them vulnerable to liquidity shifts. The market is rewarding entities that can leverage "RegTech" for automated compliance and those shifting toward secured retail assets. Affordable housing finance remains a key pocket of resilience, growing at 22ā23%, supported by government interest subsidies and a focus on ticket sizes below ā¹25 lakh. [Financial Sector Outlook 2026](https://www.youtube.com/watch?v=tBvstdNcrvw) This analysis provides expert commentary on the bottoming of margins and the specific NBFC segments poised to lead the next credit cycle. http://googleusercontent.com/youtube_content/0
Nikkei Gains on AI Strength While China Export-Linked Stocks Trade Mixed
Japanās stock market demonstrated significant resilience on Tuesday, February 24, as the Nikkei 225 surged following a long holiday weekend. The index gained 571 points, closing 1.00% higher at 57,396. This rally effectively erased losses from previous sessions, driven by a powerful rebound in technology and infrastructure-related shares. Investor sentiment was primarily buoyed by reports of a strategic evolution in the partnership between Nvidia and OpenAI. The two AI giants are reportedly finalising a 30 billion dollar investment deal. This arrangement, which positions Nvidia as a key participant in OpenAIās latest massive fundraising round, has reignited expectations for sustained capital flows into global AI infrastructure. Japanese tech leaders capitalized on this momentum. Advantest, a critical supplier in the semiconductor testing space, saw its shares rise 4.5%. Kioxia Holdings recorded an 8.3% jump, while Fujikura surged 11.16%. These gains highlights a broader "risk-on" shift in Tokyo, even as Wall Street faced volatility from geopolitical concerns and shifting trade policies. Beyond the AI sector, industrial and manufacturing stocks posted standout performances. Furukawa Electric led the market gainers with a 15.83% increase, and Murata Manufacturing rose 9.06%. These moves reflect a robust domestic outlook, supported by recent data showing Japanese machinery orders rising at a record pace. Economic indicators provide a stabilizing backdrop for the current market trajectory. Japanās GDP growth accelerated to 0.7% in the final quarter of last year, while the manufacturing PMI for February 2026 showed marginal improvement to 48.9. Although inflation rose to 4.0% in January, the market remains focused on corporate resilience and the potential for increased dividends and share buybacks. The yen's movement remains a critical variable for export-oriented firms. While recent appreciation caused brief corrections in late January, the Nikkei has maintained an upward bias throughout February. Analysts point to a 38% rise in the market over the past 12 months, with annual earnings in the tech sector forecasted to grow by 16% over the next five years. Market participants continue to monitor external factors, including United States trade rulings and geopolitical tensions in the Middle East. However, the immediate focus remains on the semiconductor and AI sectors, which are increasingly viewed as the primary engines for Japanās continued equity growth in the 2026 fiscal year.
Nifty 50 Support Level Identified at 25,200 Amid Market Correction
Market Brief: February 24, 2026 The Indian equity benchmarks witnessed a sharp sell-off today, with the **Nifty 50** plunging over **385 points** to hit an intraday low of **25,327.60**. This **1.5%** decline follows a period of consolidation, as the index struggled to maintain levels above the **25,700** mark established earlier in the week. Bearish sentiment was fueled by heavy profit booking across most sectors, triggered by weak global cues and persistent concerns regarding artificial intelligence-led disruptions in the technology space. The **Sensex** mirrored this weakness, crashing more than **1,300 points** during the session to trade near the **81,934** level. Technical Support and Resistance The Nifty is currently testing critical psychological and technical floors. Analysts identify a primary support zone at **25,200**, which aligns with the **200-day moving average** and a significant retracement level from previous rallies. If the current selling pressure persists and breaches the **25,200** threshold, the next major demand zone is expected around **25,000**. Conversely, immediate resistance is noted at **25,600**, followed by a heavy supply zone at **25,800**. Sectoral Performance and Divergence Despite the broader market weakness, the banking sector continues to show relative resilience. **Bank Nifty** has outperformed the headline index, supported by domestic buying and stability in private lenders. The **PSU Bank index** notably gained **1.35%** even as the broader market faltered. In contrast, the **IT sector** remains the primary laggard, with the **Nifty IT index** tumbling over **4%**. High-profile stocks like **Infosys**, **TCS**, and **Tech Mahindra** led the declines, mirroring an overnight sell-off in US technology stocks. Stock-Specific Headlines * **MobiKwik:** Shares surged up to **12.6%** following BSE approval for its subsidiary to commence stockbroking operations. * **Bharti Airtel:** Witnessed a decline of nearly **3.8%** after announcing a **ā¹20,000 crore** capital injection plan for its NBFC arm. * **Bank of Maharashtra:** Scaled a fresh **52-week high** of **ā¹72.44** amid positive corporate announcements. * **Waaree Energies:** Gained **2.5%** after securing a new **500 MW** solar module supply order. Institutional and Global Context Foreign Institutional Investors (FIIs) have remained net sellers in recent sessions, with outflows recorded near **ā¹638 crore** last week. However, Domestic Institutional Investors (DIIs) continue to provide a cushion, absorbing much of the selling pressure. Global uncertainty regarding US tariff policies and geopolitical tensions remains a significant overhang, keeping the **India VIX** elevated at approximately **14.36**. Market breadth has weakened, with mid-cap and small-cap indices also dropping by up to **1%** in todayās trade.
Jim Walker on the Potential Decline of US Economic Exceptionalism
US markets are entering a volatile period as the long-standing narrative of American exceptionalism faces a significant reality check. Market participants are currently navigating a chaotic landscape defined by trade tariff instability and fundamental physical constraints that threaten the expansion of the technology sector. The trade environment has shifted into a "Plan B" phase following a landmark Supreme Court ruling that dismantled previous tariff regimes. In an immediate response, a global surcharge of **15%** has been imposed on all imports. This temporary measure, set to expire in late July **2026**, has introduced profound uncertainty, complicating corporate investment plans and contributing to a "K-shaped" economic recovery where consumer spending remains uneven. Investor anxiety is clearly reflected in the commodities and currency markets. Spot gold has surged to approximately **$5,167** per ounce, recently touching record highs as a primary safe haven against policy instability. This rally is mirrored by a weakening of the US Dollar Index, which fell to **97.70**, signaling a decline in global confidence in the currencyās stability. The technology sector, a traditional engine of US growth, is confronting a massive "power crunch." The four largest tech giants have projected a staggering **$650 billion** in capital expenditure for **2026**, a **60%** increase from the previous year. However, these ambitious AI-driven plans are hitting physical walls. Five major data centers are each expected to consume over **1GW** of electricityāequivalent to the output of a nuclear reactor. Projections show a **19GW** shortfall in power capacity by **2028**, suggesting that nearly **40%** of the industry's energy needs may go unmet. Labor shortages are further compounding these issues. Firms are currently competing for a limited pool of skilled labor, with AI-related roles now making up **20%** of all tech job postings. This scarcity, combined with sticky inflation holding near **3%**, is squeezing corporate margins. While the S&P 500 recently breached the **7,000** mark, market leadership is beginning to rotate. Equal-weighted indices are outperforming traditional cap-weighted ones, indicating that investors are moving away from hyper-concentrated mega-cap tech bets. As fundamental constraints on electricity and labor intersect with trade policy chaos, the markets are being forced to re-evaluate the sustainability of current growth models. [Gold Price Breakout Analysis](https://www.youtube.com/watch?v=EUsH3mUInxs) This video provides a deep dive into the recent surge in precious metals and the specific impact of the new 15% global tariff on market volatility. http://googleusercontent.com/youtube_content/0
South India Expected to Drive Growth in Cement Sector
South Indiaās cement sector is undergoing a strategic transformation, pivoting from aggressive volume competition to a disciplined focus on value and profitability. As of late February 2026, the region is leading a nationwide pricing revival, with manufacturers implementing a series of hikes to recover margins. Recent market data shows that out of the ā¹15ā20 price increases announced in early February, approximately ā¹10 per bag has successfully sustained. In major hubs like Chennai and Bangalore, retail prices for PPC grades are currently hovering between ā¹310 and ā¹370 per bag, while premium OPC 53 grades are commanding prices upwards of ā¹390 to ā¹400. Analysts expect further aggressive movement in the coming months, with potential hikes of ā¹40ā50 per bag projected for the AprilāMay period. This pricing power is supported by a robust demand outlook for the 2026ā2027 fiscal year. Industry experts forecast a 7ā8% volume growth, primarily fueled by a significant rural revival. This growth is expected to offset potential delays in central and state capital expenditure. Rural housing now accounts for nearly 32ā34% of total cement consumption, benefiting from increased farm incomes and government allocations. On the national level, the Union Budget 2026ā27 has provided a strong tailwind with a 9% increase in capital expenditure, reaching ā¹12.2 trillion. Effective capex, including grants-in-aid, has surged by 11% to ā¹17.1 trillion. This infrastructure push, combined with a 3% increase in the road transport budget to ā¹2.87 lakh crore, ensures a steady pipeline of projects for the sector. Profitability metrics are also on an upward trajectory. Ratings agencies project industry operating profits to rise by 12ā18%, reaching ā¹900ā950 per metric tonne in the current cycle. This recovery follows a challenging period where profits had dipped to around ā¹806 per metric tonne due to intense competition and high input costs. Operational efficiency remains a top priority for major players. Companies are increasingly shifting toward green energy, with leaders targeting 85% renewable energy usage by 2030. While South India still faces a capacity utilization challengeālingering around 60ā65%āthe entry of large-scale players and ongoing consolidation are expected to bring much-needed market discipline. The sector is entering a phase of the "operational grind," where cost reduction and asset optimization take precedence over headline-grabbing acquisitions. With input costs like coal showing a 12% year-on-year decline and freight expenses stabilizing, the environment is ripe for sustained margin expansion throughout the second half of the fiscal year.
Ruchir Sharma Shifts to Agnostic Stance on Gold Following Recent Market Surge
Gold prices continue to navigate a landscape of extreme volatility, currently holding firm near the **$5,230** per ounce mark as of late February 2026. While the market recently witnessed an abrupt 10% correction that shook speculative confidence, the broader uptrend remains intact. The metal has reclaimed its position above the critical **$5,000** psychological floor, supported by a renewed "risk-off" rotation following significant instability in global equities. Central bank activity remains the primary structural pillar of this rally. Global reserves have expanded by approximately **15%** compared to last year. Institutions are increasingly prioritizing long-term stability over short-term gains, with **95%** of central banks signaling intent to further increase gold holdings through 2026. Estimated total purchases for the year are projected at **755 tonnes**, nearly double the pre-2022 historical average. China continues to exert a dominant influence on price discovery. Despite the temporary liquidity vacuum caused by the Lunar New Year holiday, Chinese investment demand grew by **28%** over the past year. Retail participation in the region is shifting from traditional jewelry to investment-grade bullion, fueled by property market weakness and a desire for safe-haven assets. In domestic markets, prices have mirrored global surges, reaching record highs of approximately **ā¹16,178** per gram for 24K gold. This represents a significant late-month recovery from mid-February lows near **ā¹15,420**. The "debasement trade"āthe migration of capital from fiat currencies to tangible assetsāis accelerating as investors hedge against rising global debt and trade uncertainties. Traditional valuation models are largely being ignored as gold trades at a historic premium. The current narrative is driven by geopolitical stress and currency diversification rather than interest rate fundamentals. Market analysts have raised year-end targets, with some institutions projecting prices could reach **$5,400** to **$6,300** if current liquidity levels and investor sentiment persist. The path forward depends on the resilience of these global narratives. Key technical levels to monitor include the **$5,100** support zone and the recent intraday peak of **$5,394**. As long as prices stay above the **$5,000** threshold, the momentum is expected to favor buyers, though the market remains sensitive to shifts in the U.S. dollar and cooling geopolitical tensions.
Shree Ram Twistex IPO Receives 2x Retail Subscription and 9% Grey Market Premium on Second Day
The initial public offering of **Shree Ram Twistex Limited** has moved into its final stages, showing a distinct divide in investor sentiment. As of **February 24, 2026**, the **Rs 110.24 crore** issue has seen a total subscription of approximately **30%** on its second day of bidding. Retail investors continue to drive the momentum, with their portion oversubscribed by **2.04 times**. In contrast, institutional interest remains muted, as **Qualified Institutional Buyers (QIBs)** have yet to record any bids for the **79.50 lakh shares** reserved for them. The **Non-Institutional Investor (NII)** segment has seen a coverage of roughly **65%**. The grey market premium (GMP) has shown a slight upward trend, rising to **Rs 9**. This suggests a potential listing price of **Rs 113**, a premium of approximately **8.65%** over the upper price band of **Rs 104**. IPO Structure and Financials The issue is entirely a fresh offering of **1.06 crore shares** with a price band set at **Rs 95 to Rs 104**. Retail participants can enter with a minimum investment of **Rs 14,976** for a lot of **144 shares**. Shree Ram Twistex, a Gujarat-based manufacturer of cotton and specialized yarns, reported a total income of **Rs 256.32 crore** for the fiscal year ended March 2025. This is an increase from **Rs 231.72 crore** in the previous year. Profit after tax (PAT) for the same period rose to **Rs 8 crore**, up from **Rs 6.55 crore**. Use of Proceeds and Market Outlook The capital raised will be directed toward key operational and sustainability goals: * **Rs 46.85 crore** for setting up a 6.1 MW solar and 4.2 MW wind power plant for captive use. * **Rs 44.00 crore** for working capital requirements. * **Rs 14.89 crore** for the repayment or prepayment of existing borrowings. The company's focus on captive renewable energy is a strategic move to lower high power costs, which currently impact spinning operations. While the textile sector benefits from a favorable **2026-27 Union Budget** and a **Manufacturing PMI of 57.5**, analysts note that the IPOās valuation at **29x-30x P/E** leaves a limited margin of safety compared to industry peers. Key Dates for Investors The bidding window officially closes on **February 25, 2026**. The basis of allotment is expected to be finalized on **February 26**, with the tentative listing on the **BSE and NSE** scheduled for **March 2, 2026**.
Australian Shares Stable Amid Tariff Concerns and Inflation Data
The S&P/ASX 200 index hovered near 9,024 points today, reflecting a market in a holding pattern as investors navigate a complex mix of global trade tensions and domestic economic signals. The benchmark index slipped approximately 0.02%, remaining remarkably resilient despite significant volatility in overseas markets. Inflation and Interest Rate Focus Market participants are largely sidelined ahead of the January Consumer Price Index (CPI) release. This data is critical following the Reserve Bank of Australiaās recent decision to raise the official cash rate to 3.85% in early February. Current projections suggest headline inflation may peak at 4.2% by mid-2026. While inflation expectations eased slightly to 5.2% in mid-February, the RBA remains on high alert for persistent price pressures in the services and housing sectors. Resource Giants at Record Levels The mining and energy sectors continue to act as the marketās primary engine. BHP Group achieved a historic milestone, with its share price surging past $55.00 for the first time. The global mining giant has gained over 50% since its mid-2025 lows, driven by robust demand for copper and gold. Energy stocks also found favor, with Woodside Energy rising 1.6% to reach its highest level since late 2024. Despite a reported 24% dip in annual profit due to lower global oil prices, the companyās record production levels and optimistic 2026 transition outlook provided a boost to investor confidence. Banking and Tech Divergence The financial sector saw a modest recovery of 0.35%, helping to offset deeper losses elsewhere. However, the broader market was weighed down by sharp declines in interest-rate-sensitive sectors. The Information Technology index plummeted 3.1% during today's session, reaching its lowest point since October 2023. Real Estate followed a similar downward trajectory, falling 1.7% to its lowest valuation since April 2025 as the prospect of "higher-for-longer" interest rates continues to pressure property valuations. Trade Policy Uncertainty Global trade dynamics remain a central concern for Australian exporters. Recent announcements regarding a potential 15% baseline tariff on all U.S. imports have triggered a spike in market uncertainty. Trade Minister Don Farrell has labeled these potential levies as "unjustified," and the government is currently assessing countermeasures. While the Australian Dollar has remained steady near 0.71 US cents, the looming implementation of these trade barriers on February 24 has created a cautious atmosphere for companies with high international exposure. Corporate Earnings Performance * **Monadelphous Group:** Surged 7.48% following a strong half-year result and upgraded revenue guidance for the 2026 fiscal year. * **Adore Beauty:** Witnessed a 24.4% collapse in share price as margin pressures and soft consumer trends overshadowed active customer growth. * **ARB Corporation:** Declined 13.4% after reporting a significant 18.8% drop in pre-tax profits. With heavyweight earnings from Fortescue and Woolworths expected in the coming 24 hours, the index is likely to remain reactive to individual corporate health and the impending inflation report.
Indian Corporate Earnings Growth Projected to Support Market Performance in FY27
Market Brief: India FY27 Earnings Outlook Corporate earnings in India are projected to experience a significant revival in **FY27**, moving past the modest growth seen in recent quarters. Market analysts expect a transition from "strong macros but weak micros" to a more synchronized growth phase. Economic Drivers Nominal GDP growth is a primary catalyst for this shift. After bottoming out in the **8% to 9%** range during FY26, nominal GDP is forecast to climb to **10.5%** in FY27. This acceleration is expected to be fueled by a recovery in the GDP deflator and an inflation rate stabilizing around **4%**. Historically, corporate revenue and profit growth show a high correlation with nominal GDP. Consequently, earnings for the Nifty 50 are projected to accelerate from a sluggish **5% to 6%** in FY26 to a robust **15% to 18%** in FY27. Currency and Sectoral Impact The Indian Rupee has recently faced pressure, trading near the **91.10** mark against the US Dollar. While this depreciation reflects global capital account stress, it serves as a tailwind for export-heavy and dollar-earning sectors. Key beneficiaries of a weaker rupee and improved pricing power include: * **Information Technology & Pharma:** Enhanced margins on dollar-denominated contracts. * **Refining & Metals:** Benefiting from dollar-linked pricing and import substitution. * **Banking:** Supported by healthy credit growth and stable asset quality. AI and Market Sentiment While the earnings outlook is improving, market sentiment remains heavily influenced by global uncertainty surrounding Artificial Intelligence. The terminal value of traditional business models, particularly in IT services, is currently under scrutiny. AI disruption is currently weighing on valuations more than immediate earnings. Investors are grappling with shifts in the IT sector toward outcome-based pricing, though long-term adoption may eventually act as a productivity enabler rather than a pure disruptor. Capital Flows and Manufacturing Foreign Institutional Investors (FIIs) have shown signs of returning, with recent single-day purchases exceeding **ā¹3,480 crore**. This optimism is supported by resilient private sector activity, with Manufacturing PMI readings remaining positive. The domestic manufacturing cycle is further bolstered by record capital outlay. The defense budget for **FY26-27** has seen a **15%** year-on-year increase, with a capital outlay of **ā¹2.19 lakh crore** aimed at accelerating domestic production.
Bitcoin Stabilizes Around $63,000 Amid Global Market Decline
The cryptocurrency market is currently navigating a high-velocity de-risking event as of late February 2026. Global risk aversion has intensified, driven primarily by significant shifts in U.S. trade policy. The recent announcement of a 15% global tariff has triggered a broad retreat from speculative assets, sending shockwaves through the digital finance sector. **Bitcoin** is currently struggling to maintain its footing, trading at approximately **$64,120**. This follows a sharp **7.02%** decline over the past week. The asset is testing a critical psychological and technical support zone at **$64,000**. Market analysts warn that a failure to hold this level on a daily closing basis could expose the price to a deeper liquidity cluster near **$60,000**. **Ethereum** has mirrored this downward momentum, sliding to **$1,843**. The second-largest cryptocurrency faces additional pressure from notable founder activity, with reports of roughly **8,800 ETH** in disposals throughout the month. This combination of macro headwinds and internal selling has kept the asset pinned below the **$2,000** resistance mark. The broader market reflects a state of "Extreme Fear," with the Fear & Greed Index crashing to a reading of **11**. This is one of the lowest sentiment readings recorded in recent years. The global crypto market capitalization has retreated to approximately **$2.23 trillion**, marking a significant evaporation of value in a short window. Institutional caution is evident in the derivatives and ETF sectors. Over the last seven days, spot Bitcoin ETFs have seen outflows totaling **$724 million**. In the futures market, the rapid unwinding of leveraged exposure has amplified the volatility. Total network liquidations recently exceeded **$458 million** in a single 24-hour period, with over **92%** of those losses coming from long positions. Trading volumes for major assets have spiked by more than **50%** during this local low, a technical signal that often suggests a period of exhaustion. While the high volume indicates heavy contest at support levels, the prevailing negative bias remains dominant. Investors are closely monitoring the **$63,440** low; a reclaim of higher levels could signal a relief rally, but current structures favor continued consolidation. Macroeconomic uncertainty remains the primary anchor for these conversations. With interest rates staying elevated and the U.S. dollar strengthening, capital continues to rotate into perceived safe havens. Until Bitcoin can reclaim the **$68,500** resistance area, retail and institutional conviction is expected to remain low.