Bullish News

🟢 Positive

12 Small-cap Stocks Decline for Five Consecutive Sessions

Market Brief: Broader Market Fragility Amid Benchmark Recovery The Indian equity market concluded the week ending **February 20, 2026**, with a stark contrast between headline indices and the broader small-cap universe. While the **BSE Sensex** managed a marginal five-day gain of **0.23%** (roughly **188 points**) to settle at **82,814.71**, underlying sentiment remains heavy. A sharp **1,236-point** plunge during the Thursday session erased much of the week’s early progress, driven by escalating geopolitical tensions in the Middle East and rising crude oil prices. Although the **Nifty 50** recovered to close above the **25,550** mark on Friday, the recovery was highly selective, favoring large-cap defensives over smaller entities. Small-Cap Segment Under Pressure The broader market continues to exhibit significant weakness. Data from the **BSE Smallcap** segment reveals that **63 stocks** declined consistently across all five trading sessions this week. Selling pressure was particularly aggressive in specific pockets, with **12 small-cap companies** recording cumulative losses exceeding **15%**. This sustained sell-off highlights a "risk-off" mood among retail and HNIs, even as institutional buying stabilized the larger benchmarks. Sectoral Winners and Laggards Market leadership shifted toward domestic-facing sectors. **Power**, **Metals**, and **Capital Goods** indices saw gains of **1% to 2%** in the final session, led by stocks like **Hindalco** and **NTPC**. In contrast, the **IT sector** faced a challenging week. Despite a strategic AI partnership between **TCS** and **OpenAI**, the Nifty IT index remained under pressure due to global growth concerns. Furthermore, the **BSE 250 SmallCap Index** slipped **0.46%** even as the Sensex rose, emphasizing a deepening "breadth imbalance." Critical Indicators to Watch Market volatility, measured by the **India VIX**, climbed to **14.35**, a **6.5%** jump that signals rising nervousness among traders. Economic data provided a mixed backdrop; while the **HSBC India Composite PMI** hit a multi-month high of **59.3**, input costs reached a **15-month peak**, threatening corporate margins. Technical support for the Nifty is currently pegged at **25,400–25,500**, while the Sensex faces immediate resistance at the **83,200** level. Investors are closely monitoring foreign institutional flows, which have turned cautious amid the holiday season in key Asian markets.

Feb 21, 2026 Read Article →

🟢 Positive

US Stocks Rise Following Supreme Court Ruling on Trade Tariffs

Indian equity markets staged a resilient recovery on Friday, February 20, 2026, recouping losses from a sharp previous-session correction. The BSE Sensex climbed 316.57 points to settle at 82,814.71, while the NSE Nifty 50 advanced 116.90 points to close at 25,571.25. Buying was concentrated in large-cap banking and metal stocks, while the IT sector lagged behind. Optimism was driven by India's entry into Pax Silica, a move expected to secure supply chains for semiconductors and AI minerals. Domestic economic indicators remained solid, with the Manufacturing PMI rising to 57.5 and the Composite PMI hitting a multi-month high of 59.3. Despite these gains, market breadth was slightly negative with 2,511 declining stocks against 2,043 advancing ones. Wall Street witnessed a dramatic intraday reversal following a landmark 6-3 ruling by the U.S. Supreme Court. The court struck down President Trump’s global tariffs, ruling that the administration had exceeded its authority under the 1977 International Emergency Economic Powers Act. This decision sparked a relief rally, as it opened the door for companies to recoup an estimated 175 billion dollars in previously paid levies. The tech-heavy Nasdaq Composite surged 1.11% to 22,935.19, led by e-commerce and technology giants. Alphabet jumped over 4%, and Amazon moved higher as the removal of tariff uncertainty outweighed concerns regarding their massive 380 billion dollar combined AI capital expenditure plans for 2026. The S&P 500 rose 0.66% to 6,907.34, while the Dow Jones Industrial Average added 130.43 points to close at 49,525.59. The afternoon rally in the U.S. overshadowed discouraging morning data, which showed Q4 GDP growth slowing to 1.4% and inflation remaining higher than expected. While President Trump responded to the ruling by announcing a new 10% tariff on all countries using alternative trade laws, he confirmed that the specific U.S.-India trade agreement parameters remain unchanged. Oil prices rose approximately 2% during the session due to intensifying geopolitical tensions between the U.S. and Iran. Gold prices also trended higher, trading at 156,530 rupees per 10 grams on the MCX. Market volatility, as measured by the VIX, remains elevated but saw a 5% drop immediately following the court's tariff decision. Global growth projections for 2026 are currently being revised upward for both the U.S. and India, reflecting a "tenuous resilience" in the face of shifting trade policies. Investors are now pivoting focus toward upcoming corporate earnings and the long-term returns on significant AI infrastructure investments.

Feb 21, 2026 Read Article →

🟢 Positive

SBI Explores M&A Financing Through Discussions With Japanese Lenders

State Bank of India (SBI) is signaling a major shift in its corporate lending strategy by aggressively targeting the domestic merger and acquisition (M&A) landscape. The country’s largest lender has identified a massive "war chest" of 94,000 crore INR to fund upcoming deals, marking a turning point for Indian banking. This move follows final guidelines issued by the Reserve Bank of India on February 13, 2026. The new regulations permit banks to fund up to 75% of an acquisition’s cost, a significant jump from previous restrictions. To manage risk, the regulator has capped a bank’s total exposure to M&A financing at 20% of its Tier-1 capital. SBI Chairman CS Setty has confirmed that the bank is in advanced discussions with Japanese lenders to form strategic partnerships. These collaborations are aimed at leveraging the deep experience Japanese banks have in global deal structuring. While SBI is open to various partners, Japanese institutions are currently lead candidates due to their active presence in the sector. The lender intends to adopt a "plain vanilla" approach for its initial domestic deals. This means focusing on straightforward debt-for-equity structures rather than complex instruments like mezzanine financing. The primary focus will be on listed companies with a minimum net worth of 500 crore INR and a consistent profit record over the last three years. Market data shows that India’s M&A activity reached 50 billion USD in the first half of 2025, with a growing trend toward billion-dollar "mega-deals." SBI’s entry into this space, which was historically dominated by private credit funds and offshore lenders, is expected to provide much-needed liquidity for domestic consolidation. The bank is currently awaiting final board approval for its internal M&A financing policy, which will outline specific pricing and risk appetite benchmarks. These new credit facilities are scheduled to be available to corporate borrowers starting April 1, 2026, coinciding with the new financial year. Under the new norms, the post-acquisition debt-to-equity ratio must remain within a 3:1 limit. This safeguard ensures that while banks take on larger roles in corporate buyouts, the financial health of the acquiring entities remains stable on a continuous basis.

Feb 21, 2026 Read Article →

🟢 Positive

Indian stocks recover amid escalating US-Iran geopolitical tensions

Market Brief: Indian Equities Recover Amid Geopolitical Volatility Indian benchmark indices staged a resilient recovery during the final session of the week, successfully reclaiming a significant portion of the losses incurred in previous days. The market sentiment shifted positively as broad-based buying in heavyweights offset earlier concerns regarding global instability. Benchmark Performance The S&P BSE Sensex gained **316.57 points**, representing a **0.38%** increase, to settle at **82,814.71**. This recovery followed a volatile start where the index initially dipped by nearly **292 points**. At its intraday peak, the Sensex surged by over **633 points**, reaching a high of **83,132.08**. The NSE Nifty 50 followed a similar trajectory, climbing **116.90 points** or **0.46%** to close at **25,571.25**. Out of the 50 constituent stocks, **36** ended the day in positive territory, signaling a healthy recovery across various sectors. On a weekly basis, the Sensex added **0.22%**, while the Nifty saw a marginal gain of **0.39%**. Sectoral Highlights The banking and metal sectors were the primary drivers of the Friday rebound. Notable gainers included NTPC, which rose **2.64%**, and Larsen & Toubro, which advanced **2.33%**. Other top performers featured Hindalco, up **3.21%**, alongside Bharat Electronics and Tata Steel. In contrast, the IT sector remained a laggard throughout the day, experiencing continued selling pressure. Major technology stocks like Tech Mahindra, Infosys, and HCL Technologies featured among the session's top losers, reflecting a more cautious outlook on global tech spending. Energy and Geopolitical Impact Crude oil prices remained elevated near a six-month high, driven by intensifying tensions between the United States and Iran. Brent crude futures hovered around **$71.99 per barrel**, while U.S. West Texas Intermediate (WTI) traded near **$67.05**. These levels represent a weekly gain of approximately **6%** for Brent and over **5%** for WTI. The military buildup in the Middle East and the potential for supply disruptions in the Strait of Hormuz—a conduit for **20%** of global oil supply—have injected a significant risk premium into energy markets. This surge in input costs has placed visible pressure on domestic oil marketing companies like BPCL and HPCL. Economic Indicators Internal economic data provided some structural support to the indices. The HSBC India Composite PMI rose to **59.3** in February 2026, marking its highest level since last November. This growth was fueled by strong factory output and improved hiring, even as input costs reached a 15-month peak. While the domestic manufacturing and services sectors remain in expansion territory, the overall market breadth remained slightly negative, with **2,265** shares declining against **1,917** advances on the BSE. This suggests that while large-cap heavyweights are stabilizing, the broader market continues to exercise caution.

Feb 21, 2026 Read Article →

🟢 Positive

Nine IPOs worth Rs 4,300 crore to launch next week, including Clean Max and PNGS Reva

India’s primary market is entering an exceptionally busy phase, with nine initial public offerings scheduled to open in the final week of February. A total of four mainboard IPOs and five SME issues are looking to collectively raise approximately 4,300 crore. The headline act for the week is Clean Max Enviro Energy Solutions. The renewable energy major has set a price band of 1,000 to 1,053 per share for its 3,100 crore issue. The subscription window for this offering opens on February 23 and closes on February 25. Clean Max intends to use 1,122 crore of the fresh proceeds to repay debt, a move aimed at strengthening a balance sheet that currently carries over 10,121 crore in borrowings. The company recently turned profitable in the 2025 fiscal year, reporting a profit of 19.43 crore on revenues of 1,610 crore. Joining the mainboard fray on February 23 is Shree Ram Twistex, a textile player aiming to raise 110.24 crore. Its price band is fixed at 95 to 104 per share. Following closely, PNGS Reva Diamond Jewellery will open its 380 crore IPO on February 24 with a price band of 367 to 386 per share. The final mainboard entry, Omnitech Engineering, opens on February 25. The precision engineering firm is targeting 583 crore with a price band of 216 to 227 per share. These diverse offerings come as secondary markets show signs of recovery. On the latest trading day, the BSE Sensex rose 316 points to settle at 82,814, while the NSE Nifty 50 advanced 116 points to close at 25,571. Market sentiment has stabilized following recent volatility, supported by buying in banking and metal sectors. The SME segment remains equally vibrant with five issues opening during the week. Notable names include Kiaasa Retail, looking to raise 69.72 crore, and Mobilise App Lab, targeting 20.10 crore. These smaller issues often attract aggressive retail interest despite the higher risk profile. Investors are closely watching grey market premiums, which currently remain subdued for the larger issues. Clean Max is trading at a marginal premium of approximately 5 to 9 per share in the unofficial market, reflecting a cautious but selective approach from participants. Gold prices in the domestic market have reached 1,56,940 per 10 grams, while the rupee has softened to 90.98 against the US dollar. These broader economic indicators are providing a complex backdrop for the upcoming listings, as the primary market tests deep liquidity reserves in the renewable, retail, and engineering sectors.

Feb 21, 2026 Read Article →

🟢 Positive

**AI Spending Dampens Stock Buybacks for Major Tech Companies**

Major technology corporations are undergoing a structural shift in capital allocation, prioritizing massive infrastructure investments over traditional shareholder returns. As of February 2026, the industry's four largest hyperscalers—Alphabet, Amazon, Meta, and Microsoft—have signaled a collective capital expenditure (CapEx) package of approximately **$650 billion** for the current year. This surge represents a **60% increase** from the **$410 billion** spent in 2025. This pivot is largely funded by a significant retreat from stock buybacks. Combined share repurchases for the top tech firms fell to **$12.6 billion** in the final quarter of 2025, marking a **74% decline** from the peak of **$48 billion** seen in 2021. Strategic Infrastructure Spending The primary driver of this expenditure is the race to build AI data centers, procure advanced chips, and secure power-hungry computing clusters. Amazon has disclosed plans to spend nearly **$200 billion** this year, with a heavy focus on its cloud unit, AWS. Alphabet’s projected spend is expected to exceed **$50 billion** to support its Gemini ecosystem, while Microsoft is on pace to surpass **$140 billion** in annual spending to double its data center footprint. * **Hyperscaler Total:** **$650 billion** (Projected 2026) * **Sector Growth:** **165%** increase in CapEx since 2024 * **Market Sentiment:** **$900 billion** in collective market cap lost following recent earnings reports as investors weigh spending against immediate returns. Market Volatility and Divergence While the broader market remains cautious, a clear divergence has emerged between companies providing the infrastructure and those developing consumer software. Nvidia remains a primary beneficiary, with analysts expecting quarterly revenues of roughly **$65.5 billion** due to its **80% market share** in AI accelerators. In contrast, software-heavy firms face increased scrutiny. The S&P 500 software and services index recently saw a **10% decline** in a single week, as investors voiced concerns over the timeline for AI monetization. Despite the "AI headache" for some, Meta has found a silver lining, reporting growth in AI-driven advertising revenue that helped its stock initially resist the broader sector sell-off. The Long-Term Outlook This transition suggests that Big Tech is evolving from a high-margin software business into a capital-heavy "AI utility." While reduced buybacks have removed a historical stabilizing force for stock prices—leading to higher volatility—tech leaders maintain that these investments are essential. The current build-out is being compared to the industrial revolution, with infrastructure spending now equating to roughly **0.8% of global GDP**.

Feb 21, 2026 Read Article →

🟢 Positive

Brent Crude Prices Rise Weekly Amid Iran-US Tensions

Market Brief: Global Oil Surge **Brent crude** prices have hit a six-month high, surpassing the **$71** mark as geopolitical friction intensifies. The global benchmark reached **$71.99** per barrel, marking a sharp **6%** gain for the week. **WTI** futures followed a similar trajectory, rising above **$67** per barrel with a weekly increase of over **5%**. This rally is primarily driven by escalating tensions between the **U.S.** and **Iran** regarding nuclear developments. Washington has issued a **10-to-15 day** ultimatum for a new nuclear agreement. In response, the U.S. has significantly increased its military presence in the Middle East, deploying two aircraft carriers and strike groups to the region. Market anxiety is centered on the **Strait of Hormuz**. This narrow passage facilitates the transit of nearly **20%** of global oil consumption. Iran recently conducted joint naval drills with Russia and issued notices of rocket launches, briefly closing parts of the strait. Supply fundamentals remain tight. Global oil inventories in the **U.S.** and **China** are shrinking. Meanwhile, **OPEC+** members have reaffirmed plans to keep production levels flat through the first quarter of **2026**. Technical indicators show **WTI** has recovered strongly from the **$55** zone. Analysts suggest a decisive breakout above **$72** for Brent could signal a new leg higher in the current commodity cycle. Secondary factors contributing to price support include the breakdown of peace talks between **Russia** and **Ukraine**. This has reignited fears of extended sanctions and further supply disruptions in European energy markets. Global demand for **2026** is forecast to rise by **850,000** barrels per day. Non-OECD economies, specifically **China** and **India**, are expected to account for the entirety of this consumption growth. Market participants are now pricing in a significant risk premium. Any physical disruption to shipping lanes could trigger an immediate supply shock, potentially pushing prices toward triple digits. Investment sentiment remains bullish despite short-term volatility. Traders are closely monitoring the **10-day** diplomatic window as the primary trigger for the next major price movement.

Feb 21, 2026 Read Article →

🟢 Positive

Gold Rises Over 1% Following US Economic Data and New Tariff Announcements

Market Brief: Gold and Global Trade Volatility **February 21, 2026** Gold markets are experiencing a sharp resurgence as a collision of weak economic data and renewed trade friction resets investor expectations. Spot gold is currently trading near **$5,025 per ounce**, maintaining a hold above the critical **$5,000** psychological threshold. In domestic markets, prices have climbed to approximately **₹1,57,520 per 10 grams**, reflecting a gain of over **₹800** from the previous session. This rally follows a volatile week where the metal recovered nearly **₹300 per gram** from recent lows. GDP Stagnation and Inflationary Pressure Fresh data shows U.S. economic growth slowed significantly to an annualized rate of **1.4%** in the final quarter of last year. This figure fell sharply below the **3%** growth projected by economists. A record **43-day government shutdown** and a notable cooling in consumer spending are cited as primary drivers of this deceleration. Despite the slowdown, the Federal Reserve's preferred inflation gauge, the PCE index, rose **0.4%** in December. This combination of sluggish growth and persistent price increases has intensified "stagflation" concerns, historically a strong environment for precious metals. The Tariff Tug-of-War Trade policy has emerged as a primary source of market turbulence. While the U.S. Supreme Court recently struck down a broad set of global tariffs—ruling that the administration exceeded its executive authority—the reprieve for markets was short-lived. Immediately following the ruling, the administration announced a new **10% global tariff** on all imports, leveraging alternative statutory powers. While the court decision provided a temporary boost to equities, the swift pivot to new protectionist measures has fueled a "safe-haven" rotation back into gold. Technical Outlook and Silver Performance Analysts note that gold has formed a potential "double-bottom" technical pattern, with strong support holding at the **$4,880** level. Immediate resistance is now pegged between **$5,100 and $5,120**. The broader metals complex is following gold's lead: * **Silver** surged **3.4%** to reach **$81.02 per ounce**. * **Platinum** gained **2.8%**, currently trading at **$2,127**. * **Palladium** rose **2%** to reach **$1,718**. Geopolitical tensions and a steady trend of central bank diversification continue to provide a structural floor for prices. Market participants are now pricing in a high probability of at least two interest rate cuts this year, with the first anticipated in **June 2026**.

Feb 21, 2026 Read Article →

🟢 Positive

STOXX 600 Reaches Record High Following U.S. Supreme Court Ruling on Tariffs

Europe’s STOXX 600 reached a record all-time high of 630.56 points on Friday, February 20, 2026. The index climbed 0.84% during the session, marking its fourth consecutive weekly gain. This rally pushed the year-to-date performance beyond 5%, significantly outperforming the U.S. S&P 500. The primary catalyst for the surge was a landmark 6-3 ruling by the U.S. Supreme Court. The court struck down President Trump’s sweeping global tariffs, declaring they lacked authorization under the International Emergency Economic Powers Act of 1977. Investors responded with relief as the decision eased trade uncertainty that had weighed on European exporters. Economic data from the Eurozone provided additional momentum. The Flash Composite PMI rose to 51.9 in February, signaling the 14th consecutive month of expansion. Most notably, the manufacturing sector returned to growth territory with a PMI of 50.8, up from 49.5 in January. This represents only the second time the sector has expanded in over three years. Luxury and automotive stocks led the gains following the tariff ruling. Shares of Porsche rose 2%, while BMW and Mercedes also saw significant increases as the threat of 15% export duties diminished. In the luxury space, Moncler surged 13.4% after reporting strong fourth-quarter sales figures. Banking and insurance sectors also performed strongly. The banking index rose over 2%, rebounding from previous volatility. Italy’s Unipol climbed 8.7% after announcing a 36.8% jump in full-year earnings. Analysts noted that resilient profitability and solid capital buffers are supporting a "risk-on" sentiment across the continent. Major regional benchmarks echoed the positive trend. Germany’s DAX gained 0.87% to reach 25,260.69, while France’s CAC 40 outperformed with a 1.39% increase to 8,515.49. The UK’s FTSE 100 also advanced 0.56% to close at 10,686.89. Despite the record highs, some strategists remain cautious. While the court ruling provides a $175 billion potential refund for importers, the Trump administration has signaled it may seek alternative legal avenues to maintain trade restrictions. Furthermore, the STOXX 600 is currently trading at approximately 16 times forward earnings, which is high compared to the 20-year average of 13.3. Inflation and monetary policy stay central to the outlook. The European Central Bank has held rates steady since June 2025, and current data suggests it may maintain this stance for the remainder of the year. While manufacturing shows signs of a turning point, the services sector continues to expand at a more moderate pace of 51.8.

Feb 21, 2026 Read Article →

🟢 Positive

US Dollar Weakens as Supreme Court Invalidates Broad Import Tariffs

The US dollar faced downward pressure following a landmark Supreme Court ruling on Friday, February 20, 2026. The 6-3 decision invalidated the administration's use of emergency powers to impose broad global tariffs. This ruling has created immediate fiscal uncertainty, as the government now faces potential refund claims exceeding **$100 billion** for duties already collected. Economic data released alongside the legal verdict confirmed a significant cooling of the American economy. Real GDP grew at an annual rate of just **1.4%** in the fourth quarter of 2025. This figure represents a sharp deceleration from the **4.4%** growth seen in the third quarter and fell well below the market consensus of **3.0%**. The slowdown was driven by a contraction in government spending and a marked decline in exports. Inflation continues to present a complex challenge for policymakers. While the annual Consumer Price Index (CPI) slowed to **2.4%** in January, the core Personal Consumption Expenditures (PCE) price index—the Federal Reserve's preferred metric—rose by **2.7%** on a quarterly basis. Persistent price pressures in services and the delayed pass-through of previous trade costs suggest that inflation may remain above the **2.0%** target for longer than anticipated. The US Dollar Index (DXY) exhibited volatility, recently hovering near the **97.90** level. The currency weakened as investors weighed the GDP miss against the legal blow to trade policy. In contrast, the British Pound and Japanese Yen found room to maneuver. Sterling benefitted from the dollar’s soft patch, while the Yen saw renewed interest as a safe haven amid the shifting US trade landscape. Market expectations for Federal Reserve policy have turned cautious. Although the benchmark interest rate remains held at **3.50% to 3.75%**, the combination of sluggish growth and "sticky" core inflation has clouded the path for rate cuts. Recent FOMC minutes revealed that some officials are even considering the possibility of future rate hikes if inflation does not stabilize. Investors have scaled back bets on a March cut, with many now looking toward the second half of 2026 for a potential shift in policy. The invalidation of the International Emergency Economic Powers Act (IEEPA) as a tool for tariff imposition has added a layer of "dynamic uncertainty" to global trade. While the White House has already signaled a move toward a **10%** baseline duty under different legal authorities, the immediate loss of the broader tariff structure has removed a key pillar of support for the dollar's recent strength.

Feb 21, 2026 Read Article →

🟢 Positive

Market Implications of Presidential Tariff Policies

In a major legal shift on February 20, 2026, the U.S. Supreme Court struck down President Trump’s sweeping global tariff regime. In a 6-3 ruling, the Court determined that the executive branch overstepped its authority by using the International Emergency Economic Powers Act (IEEPA) to impose broad trade duties. Chief Justice John Roberts authored the majority opinion, clarifying that the power to levy taxes and tariffs is a constitutional authority belonging exclusively to Congress. The ruling effectively voids the "reciprocal" tariffs of 10% to 50% that had been applied to nearly all trading partners since early 2025. **Immediate Market Impact** The decision triggered an immediate reaction in financial markets. Major indices surged following the news: - The Dow Jones Industrial Average rose 0.3% to **49,521.49** - The S&P 500 gained 0.6% to reach **6,901.67** - The Nasdaq Composite jumped 1.0% to **22,914.91** Analysts view the ruling as a potential hedge against inflation, which had accelerated in early 2026. Prior to the verdict, the effective U.S. import tariff rate was projected to peak at **13%** to **14%**. The removal of these duties is expected to ease the core personal consumption expenditures index, which had seen a **0.5 percentage point** increase due to tariff costs. **Global Trade Dynamics** Before the ruling, global trade growth was projected to slow to just **0.6%** in 2026. The decision provides a reprieve for key exporters. Canada and Mexico, previously facing a **25%** duty, and India, which saw tariffs on its goods reduced to **18%** just weeks ago, are now assessing the legal path for duty refunds. The U.S. Census Bureau reported a trade deficit of **$70.3 billion** in December 2025, and while the ruling may not shrink this gap immediately, it removes the immediate threat of escalating costs for U.S. consumers who were absorbing nearly **77%** of tariff expenses. **Political and Legal Next Steps** The White House characterized the ruling as a "disgrace" and signaled the use of alternative trade laws, such as Section 301 of the Trade Act of 1974, to maintain trade pressure. However, these tools are more limited in scope and require specific investigations into unfair trade practices. The focus now shifts to the U.S. Customs and Border Protection and the Court of International Trade. Importers are bracing for a complex refund process, as the Supreme Court did not provide a specific mechanism for returning the billions of dollars already collected under the illegal mandates.

Feb 20, 2026 Read Article →

🟢 Positive

Gift Nifty Gains 400 Points Following US Supreme Court Ruling on Tariffs

A landmark ruling by the US Supreme Court has dismantled the broad-based global tariffs imposed by the Trump administration. In a 6-3 decision on February 20, 2026, the court ruled that the use of the International Emergency Economic Powers Act (IEEPA) to implement sweeping trade duties was unlawful. The court clarified that the power to levy taxes and tariffs during peacetime rests solely with Congress, not the executive branch. Global markets reacted immediately with a sharp relief rally. The Gift Nifty surged nearly 400 points from its daily lows, reclaiming levels above 25,700. This movement reflects a significant shift in investor sentiment as the legal basis for "Liberation Day" tariffs—which included a 10% baseline duty on all imports—effectively collapsed. For India, the ruling provides a critical competitive boost. Before this decision, Indian exporters were facing total tariffs as high as 50% in 2025. While recent bilateral negotiations had already seen the removal of a 25% penal tariff related to energy trade, an 18% reciprocal tariff was still pending on major sectors. The court's decision effectively voids these broad reciprocal duties, freeing approximately 55% of India's exports to the US from the 18% burden. The ruling creates a potential path for billions in tariff refunds. Estimates suggest the US government collected over $175 billion in revenue from these now-invalidated duties. While sector-specific tariffs under Section 232—covering steel and aluminum—remain in place, the broader removal of emergency duties eases pressure on Indian textiles, leather, and machinery. Market volatility has cooled as the "trade war" premium begins to dissipate. Investors are now pivoting toward the upcoming interim trade agreement, which may be renegotiated to reflect the new legal landscape. With the Gift Nifty signaling a strong positive opening for domestic indices, the focus shifts to how the administration will adapt to these strict constitutional limits on trade policy. This reset in trade dynamics arrives at a vital time for the Indian IT and pharmaceutical sectors, which have struggled with global policy uncertainty. By removing the threat of unilateral executive action, the ruling offers a more stable and predictable environment for international commerce and long-term capital flows.

Feb 20, 2026 Read Article →

🟢 Positive

Gold Prices Stabilize Following Supreme Court Ruling on U.S. Tariffs

Gold prices demonstrated resilience on Friday, February 20, 2026, as the market navigated a landmark legal decision and shifting economic fundamentals. The yellow metal pared earlier gains following a U.S. Supreme Court ruling that struck down President Donald Trump’s broad tariff plan, a move that momentarily eased trade-related anxieties. Despite this, the safe-haven asset found firm support in underwhelming economic data. Recent figures show U.S. GDP grew at an annual rate of 1.4% in the fourth quarter of 2025, a sharp deceleration from the 4.4% growth recorded in the third quarter. This cooling economy, coupled with ongoing geopolitical tensions, has kept investor interest high. **International Market Movements** On the COMEX, spot gold was trading near $5,017.60 per ounce, reflecting a daily increase of $20.20 or 0.40%. This follows a turbulent start to 2026 where the metal hit fresh record highs before a significant correction in late January. Currently, the market is in a consolidation phase, struggling to regain the peak levels seen earlier in the year. **Domestic Performance and Technicals** In the Indian market, gold futures rose by ₹1,315 to reach ₹1.56 lakh per 10 grams. The 24-carat gold rate in major cities like Delhi and Mumbai is currently valued at approximately ₹8,800 per gram. While prices have retreated roughly 25% from their all-time highs of ₹1.93 lakh, the technical structure remains a focal point for traders. Key technical levels to watch: - Immediate Resistance: ₹1,56,000 – ₹1,58,000 - Major Resistance: ₹1,60,000 - Immediate Support: ₹1,53,000 - Major Support: ₹1,50,500 **Economic and Policy Drivers** The Supreme Court’s 6-3 decision determined that the International Emergency Economic Powers Act (IEEPA) does not grant the executive branch the authority to impose broad tariffs without clear congressional approval. This ruling specifically invalidated duties ranging from 10% to 40% on trading partners including China, Mexico, Canada, and India. While the removal of these tariffs is expected to lower cost pressures and inflation expectations, the weakening GDP and high-impact macro events remain the primary catalysts for gold. Markets are also pricing in the likelihood of Federal Reserve interest rate cuts, as a softer economic outlook often enhances the appeal of non-yielding bullion. Volatility is expected to persist in the near term as investors await the Personal Consumption Expenditures (PCE) price index data. Expert sentiment suggests a "sell on rise" strategy for short-term traders, even as the long-term bull run for precious metals remains structurally intact.

Feb 20, 2026 Read Article →

🟢 Positive

US Stock Indexes Rise Following Supreme Court Ruling on Tariffs

Wall Street surged on Friday as investors reacted to a landmark Supreme Court decision. In a 6-3 ruling, the court struck down the sweeping "Liberation Day" tariffs imposed by the administration under the 1977 International Emergency Economic Powers Act. The decision invalidates broad import taxes that had been in place since February 2025. The ruling ignited a sharp market reversal. Earlier in the day, indexes had slumped following disappointing economic data showing fourth-quarter GDP growth at just 1.4%, well below the 2.5% forecast. However, the news from the high court provided immediate relief to thousands of companies that had challenged the legality of the levies. Market performance reflected a significant boost in investor confidence. The Dow Jones Industrial Average gained 130 points to close at 49,525.59. The S&P 500 rose 0.66% to reach 6,907.34, while the tech-heavy Nasdaq Composite led the rally with a 1.11% surge, finishing the day at 22,935.19. Retailers and technology firms with global supply chains saw some of the strongest gains. Many on Wall Street viewed the decision as a critical check on executive power, shifting the authority over trade and taxation back toward Congress. This shift is seen as a stabilizing force that reduces the risk of abrupt, unilateral economic actions. The financial implications of the ruling are massive. Analysts estimate that more than $175 billion in previously collected tariffs may now be subject to refunds. While the government has collected roughly $160 billion under this specific emergency law, the ruling could eventually trigger repayments that reach into the hundreds of billions. Volatility declined following the announcement. The VIX, often referred to as the market's "fear gauge," dropped 5% as the legal uncertainty surrounding global trade policy cleared. Major corporate gainers included Walmart, which rose 2.23% to $129.44, and Chevron, which climbed 1.78% to $187.15. Despite the positive market reaction, some trade measures remain. Industry-specific tariffs on steel, aluminum, and automobiles—implemented under separate national security laws—were not affected by this specific ruling. However, the invalidation of the broader global duties has effectively removed a major tax burden from the U.S. economy. International markets also tracked the gains on Wall Street. European and Asian indexes edged higher on hopes of a more predictable trade environment and a lower risk of retaliatory measures from key trading partners. The U.S. dollar weakened slightly as the shift in trade policy eased some inflationary concerns.

Feb 20, 2026 Read Article →

🟢 Positive

NSE to Launch 10-Gram Gold Futures on March 16 Following SEBI Approval

The National Stock Exchange is set to expand its commodity derivatives portfolio with the launch of Gold 10 grams futures starting March 16. This follows official approval from the Securities and Exchange Board of India (SEBI) and is designed to attract a broader base of retail investors who prefer smaller, more manageable contract sizes. The new contract features a monthly, delivery-based structure. To ensure market stability and risk management, the exchange has established defined price limits and margin requirements. Settlement for these contracts will be based in Ahmedabad, providing a standardized physical delivery mechanism for participants. This launch comes at a time of significant activity in the bullion market. Domestic gold prices in India have recently reached historic levels, with spot prices for 10 grams of 24-carat gold trending near 94,630 INR. This represents a substantial rise from 2024 levels, driven by global safe-haven demand and a weaker rupee. The broader market environment shows a clear shift in consumer behavior. While record-high prices have dampened traditional jewellery sales by an estimated 20% to 30%, investment demand has surged. Gold ETFs and digital gold products have seen record-breaking inflows, with ETF assets in India reaching historic peaks of over 116 billion INR in recent months. To further improve liquidity and reduce the cost of trading, both the MCX and NSE recently withdrew additional margins on gold and silver futures. Specifically, a 3% additional margin on gold was removed effective February 19, making it more capital-efficient for hedgers and speculators to enter the market. Analysts note that the combination of the new 10-gram contract and lowered margin requirements could significantly boost retail volumes. As international spot gold tests the 3,000 USD per ounce threshold, Indian investors are increasingly looking for transparent, exchange-traded instruments to hedge against inflation and currency volatility. The NSE’s entry into this segment provides a competitive alternative to existing commodity platforms. By focusing on a 10-gram denomination, the exchange is directly addressing the needs of smaller investors who find the traditional 1-kilogram contracts too capital-intensive. Market participants should watch for the official contract launch on March 16 to observe the initial liquidity and price discovery patterns. This move is expected to integrate the physical bullion market more closely with financial derivatives, offering a robust platform for both investment and delivery.

Feb 20, 2026 Read Article →

🟢 Positive

US Equities Decline Following Soft GDP and Elevated Inflation Data

US stock markets closed lower on Friday, February 20, 2026, as investors reacted to a landmark Supreme Court ruling and fresh economic data showing a significant cooling of the domestic economy. The S&P 500 fell 26.63 points, or 0.4%, to finish at 6,117.52. The Dow Jones Industrial Average dropped 450.94 points, a 1% decline, ending at 44,176.65. The Nasdaq Composite slipped 0.5% to close at 19,962.36, while the Russell 2000 index of smaller companies retreated 0.9%. Market sentiment was heavily influenced by the U.S. Supreme Court's 6-3 decision to strike down the broad global tariffs imposed under emergency powers. This ruling upends a central pillar of current trade policy, impacting over $133 billion in duties collected since late 2024. While the decision removes a layer of trade uncertainty, it creates a "legal mess" regarding potential refunds for billions of dollars already paid by importers. Economic growth slowed more than anticipated in the fourth quarter of 2025. Real GDP increased at an annual rate of 1.4%, a sharp deceleration from the 4.4% growth recorded in the third quarter. This slowdown was partially attributed to the record-breaking 43-day government shutdown that occurred late last year, which stripped approximately 1 percentage point from the final growth figure. Inflation remains a persistent concern for the Federal Reserve. The Personal Consumption Expenditures (PCE) price index—the Fed's preferred inflation gauge—rose to 2.9% in the fourth quarter, up from 2.8% in the previous period. Core inflation, which excludes volatile food and energy costs, stood at 2.7%, highlighting that price pressures are not receding as quickly as many had hoped. The labor market showed signs of softening as well. Nonfarm payrolls for January added only 143,000 jobs, falling short of the 175,000 expected by analysts. Despite the slower hiring pace, the unemployment rate ticked down slightly to 4.0%, while labor force participation rose to 62.6%. Sector performance was mixed amid the volatility. Consumer staples and real estate saw modest gains as investors sought defensive positions. However, retail stocks faced heavy pressure following a weak profit forecast from Walmart, which warned of slowing consumer demand. Tech giants, often referred to as the Magnificent Seven, continued to face selling pressure, marking a shift in market leadership toward broader index components. In the commodities and bond markets, the 10-year Treasury yield eased to 4.20% as recession fears resurfaced. Gold prices rose to $2,867.30 per ounce, reflecting a flight to safety. Conversely, crude oil prices fell to approximately $70.00 per barrel, recording the first monthly decline in several months due to concerns over weakening global demand.

Feb 20, 2026 Read Article →

🟢 Positive

Sebi Approves Four IPOs Including Integris Medtech, Alpine Texworld, and Anjali Labtech

The Securities and Exchange Board of India (SEBI) has cleared the path for four major initial public offerings, marking a significant milestone for Integris Medtech, Alpine Texworld, Anjali Labtech, and Appl Containers. These approvals come as the Indian primary market continues to show resilience, with benchmark indices like the Nifty 50 and Sensex maintaining a positive trajectory, currently hovering near 25,571 and 82,815 respectively. **Integris Medtech** The medical technology giant is moving forward with a substantial **₹925 crore** fresh issue alongside an offer for sale (OFS) of approximately **2.17 crore equity shares**. The Noida-based company, which holds a top 3 position in India’s drug-coated balloon market, intends to use the primary proceeds for debt repayment and general corporate expansion. This move follows a strong fiscal year, where the firm reported pro forma revenues exceeding **₹2,332 crore**. **Anjali Labtech** Surat-based Anjali Labtech is making waves in the high-tech sector with a planned issue estimated at **₹1,200 crore**. The company specializes in lab-grown diamonds, semiconductor materials, and advanced manufacturing systems. Its financial profile shows rapid scaling, with total income jumping over **110%** to reach **₹478 crore** in the latest fiscal period, while profits grew by **63%**. **Alpine Texworld** In the textile and renewable energy space, Alpine Texworld has secured approval for an IPO comprising a fresh issue of **1.50 crore shares**. The funds are earmarked for a new weaving unit in Ahmedabad and the repayment of **₹522 million** in existing debt. The company has diversified significantly, recently commissioning a **5.4 MW** solar project as part of its sustainability drive. **Appl Containers** Rounding out the list, Appl Containers has received the green light for its listing on the NSE and BSE. The company serves the critical global shipping and logistics sector, focusing on ISO container manufacturing. Its entry into the public market aligns with broader industrial growth as India's manufacturing sector remains a key driver of market sentiment. **Market Context** These upcoming listings enter a vibrant environment where IPO fundraising in 2025 reached nearly **₹1.75 lakh crore**. Despite global volatility and a weakening Rupee, which recently touched **90.99** against the US dollar, retail participation remains at an all-time high. Investors continue to favor sectors driven by local manufacturing and technological innovation, keeping the primary market pipeline robust for the first half of 2026. [Upcoming IPO opportunities 2026](https://www.youtube.com/watch?v=VjrV92p67u0) This video provides an expert outlook on the record-breaking momentum of the Indian IPO market and what investors should expect in the coming year. http://googleusercontent.com/youtube_content/0

Feb 20, 2026 Read Article →

🟢 Positive

**RBI Reports Trade Pacts Driving Foreign Inflows and Strengthening Indian Rupee**

India's financial landscape has seen a decisive turnaround as foreign portfolio investors return to domestic markets. After three consecutive months of heavy selling totaling over **62,000 crore** between November and January, Foreign Portfolio Investors (FPIs) turned net buyers in February 2026. Data as of February 20 shows a total net investment of **29,252 crore** for the month. This shift is largely attributed to the successful conclusion of a landmark Free Trade Agreement (FTA) with the European Union and the finalization of an interim trade deal with the United States. The Reserve Bank of India, in its February monthly bulletin, noted that these strategic trade deals have fundamentally improved investor sentiment. The India-EU FTA provides preferential access to **99.5%** of India's trade value, eliminating duties on labor-intensive sectors like textiles, leather, and gems. Simultaneously, the interim pact with the U.S. has reduced reciprocal tariffs from levels as high as **50%** down to a stabilized **18%**. This move alone provided an immediate relief of approximately **1.50** per dollar for the Indian Rupee, lifting it from record lows near **92.00**. The Indian Rupee has stabilized around the **90.80** mark against the U.S. Dollar. The currency's resilience is further supported by India's record foreign exchange reserves, which have climbed above **$723 billion**, providing the central bank with significant firepower to manage market volatility. Domestically, the Reserve Bank maintained the repo rate at **5.25%** during its February meeting. The decision to keep rates steady, combined with a fiscal deficit target of **4.3%** announced in the Union Budget, has reinforced India's image as a stable investment destination. Real GDP growth for the current fiscal year is now poised to reach **7.4%**, outperforming previous estimates. Analysts suggest the new trade framework could add another **20 to 50 basis points** to India's growth trajectory as businesses integrate more deeply into global supply chains. While challenges such as volatile global commodity prices and higher transaction taxes on derivatives remain, the twin trade agreements have effectively established a new floor for both the equity markets and the rupee. This structural shift marks a transition from defensive market consolidation to a phase of trade-led economic expansion.

Feb 20, 2026 Read Article →

🟢 Positive

Goldman Sachs: US Hedge Funds Impacted by AI Tech Selloff

Hedge fund stock pickers are navigating their most challenging stretch in years. Goldman Sachs Prime Services reports that fundamental equity long-short funds recently endured a three-week performance slump comparable to the volatility seen in early 2022. The primary driver of this downturn is a significant re-rating across the technology sector. Software-as-a-Service (SaaS) companies have been hit hardest as investors reassess the "AI displacement" risk. Benchmark indices like the iShares Expanded Tech-Software Sector ETF (IGV) recorded a sharp decline of nearly 25% during the peak of this rotation. Valuations in the software space had reached historical extremes before the selloff, sitting in the 10th decile of their price-to-forward earnings history. Recent market movements have since dragged these valuations down to the 8th decile. This correction was accelerated by new AI model releases that sparked fears of disruption for established software firms. Despite the turbulence in software, a clear divergence has emerged within the tech landscape. While software struggled, the iShares Semiconductor ETF (SOXX) remained resilient, posting gains of over 5% during the same period. This highlights a shift in capital away from application-level software and toward the hardware and infrastructure powering the AI era. Overall market concentration remains at historic highs. The "Magnificent 7" now represent over 35% of the S&P 500's total market capitalization. These seven firms saw earnings growth of approximately 30% in recent cycles, significantly outperforming the 6% growth seen in the remaining 493 companies. Macroeconomic headwinds are adding to the pressure on stock pickers. Recent data shows a cooling U.S. economy, with Q4 GDP growth slowing to 1.4%—the second-lowest quarterly print of the year. Inflation remains stubborn, with Core PCE reaching 3.0%, well above the Federal Reserve’s target. Hedge fund positioning reflects these shifts, with net exposure to software falling to five-year lows. Conversely, managers have ramped up allocations to semiconductors and healthcare, particularly biotech. While gross leverage across prime brokerage books has hit record highs, the "alpha generation" for stock-specific bets remains under intense pressure due to high factor volatility and rapid sector rotations. [Market Analysis: The Recent Tech Sell-Off](https://www.youtube.com/watch?v=ajtDPRsDVHM) This video provides professional insight into the specific factors driving the recent software stock downturn and how AI disruption is reshaping the technology sector. http://googleusercontent.com/youtube_content/0

Feb 20, 2026 Read Article →

🟢 Positive

UPL to List Crop Protection Business as Separate Entity

UPL Strategic Reorganisation: Creation of Global Crop Protection Leader **UPL Limited** has officially approved a composite scheme of arrangement to bifurcate its operations into two distinct, publicly traded entities. This move aims to separate the diversified chemicals business from the core crop protection segment. The cornerstone of this plan is the creation of **UPL Global Sustainable Agri Solutions** (UPL Global). This new entity will consolidate the group’s India and international crop protection businesses into a single, pure-play platform. Market Position and Scale Upon completion, **UPL Global** is projected to become the world's **second-largest** listed pure-play crop protection company. The consolidation integrates research, manufacturing, and a massive global distribution network under a unified management structure. The global agrochemicals market is currently valued at approximately **$251.4 billion** for **2026**. Experts forecast a steady growth rate of **4.7% CAGR** through **2033**, driven by increasing food security needs and the rise of sustainable bio-solutions. Financial Performance and Valuation UPL recently reported a strong third quarter for **2026**, with revenue climbing **12%** to **₹12,269 crore**. Net profit witnessed a significant surge of **45%**, reaching **₹452 crore**. The company has aggressively reduced its financial leverage, cutting net debt by **₹2,553 crore** during the quarter. This deleveraging effort brings the total net debt down to **₹23,317 crore**, improving the group's credit profile and capital flexibility. Shareholder Structure and Timeline As of **February 20, 2026**, UPL shares closed at **₹751.50**. Under the proposed restructuring: * Promoters will hold **33.1%** in the existing UPL Limited. * Promoters will hold a higher **71.6%** stake in the new **UPL Global**. * Public shareholders will own **28.4%** of the new crop protection entity. Promoters have voluntarily committed to an **18-month** shareholding lock-in from the listing date to signal long-term confidence. The first phase of the merger is scheduled for **April 1, 2026**, with the entire process expected to conclude within **12 to 15 months**. Strategic Objectives The separation is designed to provide investors with a choice between a high-growth, focused crop protection platform and a diversified specialty chemicals business. This structure allows each entity to raise capital independently and optimize operations for their specific market dynamics. **UPL Global** will focus on high-demand segments such as herbicides and fungicides, which currently dominate nearly **40%** of the global market share.

Feb 20, 2026 Read Article →