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7 Stocks Cross Above 200-Day Moving Average
Equity markets are currently navigating a critical technical junction as of February 19, 2026. The 200-day Simple Moving Average (SMA) remains the primary barometer for long-term sentiment. In the U.S., the S&P 500 continues to trade above this vital level, currently hovering near **6,843**, maintaining its broad uptrend despite a recent cooling of momentum. The market breadth reveals a growing divergence. While the headline index remains bullish, only **66%** of S&P 500 constituents are currently trading above their 200-day SMA. The technology sector is under notable pressure, with **57%** of its stocks now languishing below their long-term averages due to concerns over high valuations and shifting demand. Indian benchmarks show similar resilience. The Nifty 50 settled at **25,819**, holding firm above its 200-day support near **25,500**. Technical scans identified seven major stocks, including Yes Bank and PVR Inox, making fresh breakouts above their 200-day DMAs this week, signaling a potential shift from sideways consolidation to active uptrends. Economic indicators are providing a mixed backdrop for these technical levels. U.S. Consumer Price Index (CPI) data shows headline inflation at **2.4%**, while core inflation remains stickier at **3.6%**. Investors are closely monitoring the Federal Reserve's stance, as interest rate expectations directly impact the ability of growth stocks to stay above their moving averages. Commodities are undergoing their own technical tests. Gold has corrected to approximately **$5,047** per ounce, yet it remains structurally sound within a long-term bull market as long as it holds above its 200-day floor. Silver has faced steeper volatility, retreating toward **$77.01** but staying within its medium-term upward channel. Corporate earnings are the current catalyst for price action. As heavyweights report fourth-quarter results, the ability of individual stocks to reclaim or defend the 200-day SMA will determine whether the current market phase is a healthy consolidation or the start of a deeper trend reversal. Volatility, measured by the VIX at **13.33**, suggests that while fear is not at extreme levels, the market is sensitive to technical breaches. Analysts emphasize that the 200-day SMA is a lagging indicator; therefore, price action near these levels often attracts significant institutional liquidity and serves as a "line in the sand" for trend followers.
Marushika Technology IPO: Shares to List Today Following NSE SME Debut
Marushika Technology marks its entry onto the NSE SME platform this February 19, 2026. The company’s debut comes after a successful public offer that raised 26.97 crore. Investor demand was notably robust, with the issue being oversubscribed 17.94 times. The retail portion saw significant interest at 16.51 times, while non-institutional investors led the charge with 41 times subscription. The shares were issued at a price of 117 per share, the upper end of the established price band. Early grey market activity indicates a steady sentiment, with premiums hovering around 2%. This suggests a potential listing price near 119 to 120 per share. The company’s financial health supports this entry, reporting a total income of 85.63 crore and a profit after tax of 6.29 crore for the 2025 fiscal year. Operating in the high-growth IT and telecom infrastructure sector, Marushika manages complex projects across data centers, cybersecurity, and surveillance. A key differentiator is its involvement in the defense segment, where it provides specialized repair, refurbishment, and reverse engineering solutions. The firm serves a high-profile client base including Bharat Electronics Limited and the National Security Guard. The capital raised from the 23.05 lakh fresh shares will be strategically deployed to strengthen the balance sheet. Approximately 5 crore is earmarked for the repayment of existing borrowings, while 14.68 crore will fund essential working capital. This move is designed to support an order book that stood at 28.35 crore as of late 2025. The listing coincides with a broader push in India’s digital infrastructure. National trends for 2026 highlight a shift toward capital efficiency and enterprise monetization in telecom. With the domestic telecom sector transitioning toward 5G value-added services and satellite connectivity, infrastructure providers are positioned at the center of this transformation. Market conditions remain supportive as the Nifty maintains levels above 25,800. The SME sector continues to attract liquidity, reflected by the broad-based buying seen in recent sessions. Marushika enters the secondary market with a post-issue promoter holding of 58.19%, aiming to leverage its track record of over 150 completed projects to capture emerging opportunities in sovereign digital networks and defense technology.
Gold Prices Decline Amid Strengthening Dollar and Upcoming Inflation Data
Market Brief: Gold Price Action and Outlook **February 19, 2026** Gold prices are experiencing a marginal retreat this Thursday, with spot prices hovering near the **$4,980** level. This follows a volatile Wednesday session where the metal briefly breached the psychological **$5,000** resistance mark, reaching a peak of **$5,003.85** before easing. The current dip is primarily driven by a strengthening U.S. Dollar and a cautious stance from investors ahead of critical economic triggers. Markets are closely analyzing the recently released Federal Reserve meeting minutes, which suggested a more patient approach to interest rate cuts than some had anticipated. Key Price Levels and Data In the global spot market, gold remains consolidated just below the **$5,000** per ounce threshold. Silver has shown relative strength, rebounding to approximately **$76** per ounce during Asian trading hours. Domestic markets in India reflect this global cooling. 24K gold is currently trading near **₹15,419** per gram, while 22K gold stands at **₹14,134**. These rates represent a slight correction from earlier February highs, which saw prices peak near **₹16,058** at the start of the month. Factors Influencing the Market Several macroeconomic and geopolitical variables are currently dictating price direction: * **Inflation Metrics:** Market participants are focusing on the upcoming Personal Consumption Expenditures (PCE) report. Current data shows annual inflation at **2.4%**, with core inflation holding at **2.5%**. * **Monetary Policy:** The Federal Reserve maintained rates at **3.75%** in January. Current market pricing suggests a potential for two to three rate cuts later this year, with the first likely in June. * **Geopolitics:** Ongoing tensions in the Middle East and Eastern Europe continue to provide a floor for prices, though recent "guiding principles" for nuclear talks between the U.S. and Iran have temporarily dampened safe-haven urgency. * **Central Bank Demand:** Structural support remains robust as central banks are projected to purchase approximately **755 tonnes** of gold in 2026, continuing a trend of reserve diversification. Sector Performance and Supply Mining sector performance remains a highlight for the year. Major producers are reporting expanded margins due to the elevated price environment. Production guidance for 2026 remains steady, though supply is projected to remain tight due to regulatory constraints and limited new mining permits. Despite the immediate pullback, the broader technical trend for 2026 remains bullish. Analysts point to a long-term trajectory that could see gold challenge the **$5,100** resistance level in the coming weeks, with some institutional forecasts targeting **$6,000** per ounce by the second half of the year. The market is currently entering a phase of healthy profit-taking and consolidation. Liquidity is expected to normalize as major Asian markets return to full activity following the Lunar New Year holidays, potentially providing the necessary volume to test higher resistance levels.
US Dollar Strengthens Amid Expectations of Sustained Federal Reserve Interest Rates
The U.S. dollar climbed to its highest levels in weeks following the release of the January Federal Open Market Committee minutes. The report signaled a hawkish shift in policy sentiment, cooling expectations for immediate rate relief and pushing the U.S. Dollar Index (DXY) to approximately 97.71. The greenback's strength is fueled by a Federal Reserve that appears divided but largely cautious. While the benchmark interest rate remains in the 3.5% to 3.75% range, the minutes revealed that several policymakers are open to discussing rate hikes if inflation does not continue its descent toward the 2% target. This "two-sided" policy outlook has anchored the dollar as a preferred asset. Recent economic data has supported this stance, with durable goods orders and industrial production both exceeding consensus expectations. The January inflation print arrived at 2.4%, down from 2.7%, but the Fed remains wary of price volatility driven by potential trade shifts and labor market stability. In the bond market, the 10-year Treasury yield rose to 4.08%, snapping a three-day streak of declines. This upward movement in yields reflects a market recalibrating for a "higher for longer" interest rate environment. The spread between the 10-year and 2-year yields remains at 0.62%, indicating a persistent curve dynamic as investors weigh long-term growth against near-term policy restrictions. The surge in the dollar has placed significant pressure on major currency pairs. The Euro dropped toward the 1.178 level, struggling against the backdrop of a more aggressive U.S. rate outlook. Simultaneously, the Japanese yen weakened further, with the USD/JPY pair trading near 154.97 as the yield differential between the U.S. and Japan continues to favor the greenback. Regional currencies are also feeling the impact. The Malaysian ringgit eased to 3.89 against the dollar, and other Asian currencies remained on the defensive. Markets are now pivoting their focus toward the upcoming Core PCE report, which serves as the Fed's preferred inflation gauge. The current sentiment suggests that while two rate cuts may still be on the table for later in 2026, the window for a March reduction is rapidly closing. Investors are now pricing in a more resilient U.S. economy, which provides the Fed with the necessary cushion to maintain current rates until clearer evidence of a sustained 2% inflation path emerges.
US Stocks Close Higher on Growth in AI Sector
Indian equity markets maintained a bullish trajectory on Wednesday, February 18, 2026, as the Nifty 50 climbed **0.37%** to close at **25,819.35**. The BSE Sensex followed suit, gaining **283.29 points** to settle at **83,734.25**. This third consecutive session of gains was fueled by a robust recovery in financial and metal sectors, offsetting temporary weakness in the IT index. Domestic sentiment was bolstered by news of potential easing in U.S. steel tariffs, which sent the Nifty Metal index up **1.33%**. Banking stocks also surged, with the PSU Bank index rising **1.31%** to reach a fresh record high of **9,647**. Individual standouts included Godfrey Phillips, which skyrocketed **20%** following cigarette price hikes, and Netweb Technologies, which gained **9%** after announcing a "Make in India" AI supercomputer powered by Nvidia. On Wall Street, major indices opened with renewed vigor as concerns over artificial intelligence valuations began to ease. The Dow Jones Industrial Average rose **0.53%** to **49,796.62**, while the S&P 500 gained **0.72%** to reach **6,892.35**. The tech-heavy Nasdaq Composite outperformed with a **1.20%** jump to **22,850.41**, as investors rotated back into megacaps. Nvidia shares rose **1.9%** after securing a massive multi-year AI chip deal with Meta Platforms. Amazon also advanced **1.6%** as the market reacted positively to its **$50 billion** investment plan for AWS AI capabilities. These gains provided a much-needed reprieve after a volatile period where Big Tech lost over **$1.3 trillion** in market value since the start of the year. The U.S. Federal Reserve’s January meeting minutes, released Wednesday, indicated a significant policy split. While officials unanimously held interest rates at **3.50%–3.75%**, "several" participants suggested that rate hikes could return if inflation remains sticky. Current market pricing suggests a **63%** probability that the first rate cut of at least **25 basis points** will not occur until June 2026. Energy markets experienced a complex day. While global Brent crude is forecasted to average **$58 per barrel** throughout 2026 due to rising inventories, domestic Indian energy stocks faced sharp midday pressure. In contrast, the U.S. energy sector saw gains as investors rewarded companies showing durable cash flow and infrastructure growth over speculative software plays.
Indian Market Set for Positive Start Amid Strong Global Cues
Global Market Brief: February 2026 The global economy is currently navigating a path of divergent growth and shifting trade landscapes. Global output is projected to expand by **2.7%** in 2026, a slight cooling from the **2.8%** seen last year. While major economies are largely avoiding recession, growth remains below the pre-pandemic average of **3.2%**. Equity Markets and Sector Performance Equity markets have entered 2026 with a "winner-takes-all" dynamic, particularly in the United States. The S&P 500 is buoyed by an AI supercycle, with earnings growth in the technology sector forecasted between **13% and 15%**. However, concentration risks remain high as capital flows predominantly into market leaders. In India, the BSE Sensex recently reached levels around **83,734**, marking a resilient start to the year. Strength is concentrated in metals, banking, and FMCG sectors. The Nifty 50 is trading near **25,819**, supported by robust domestic flows. Conversely, IT services have faced pressure as the market transitions from AI experimentation to demanding measurable impacts. Commodities and Energy Energy markets are seeing a downward trend in prices as global production begins to outpace demand. Brent crude is currently trading near **$67.50** per barrel, with forecasts suggesting an average of **$58** for the full year. European natural gas has stabilized below **€30/MWh**, easing inflationary pressure on industrial sectors. Precious metals continue to serve as a hedge against geopolitical volatility. Gold prices have seen significant interest, recently retreating slightly from peaks but maintaining a strong position as investors monitor central bank signals. The World Bank anticipates an overall **7%** drop in commodity prices through 2026, marking a multi-year decline. Monetary Policy and Inflation Central banks are shifting from the aggressive easing cycles of 2025 to a "simultaneous hold" strategy. In the United States, the Federal Reserve is expected to target a policy rate of **3%** by year-end, while the European Central Bank maintains rates around **2%**. Inflation is cooling globally but remains "sticky" in certain regions. India's inflation rate was recorded at **2.75%** for January 2026, allowing the RBI to maintain a relatively accommodative stance with interest rates at **5.25%**. Trade and Technology Trends Global trade is undergoing a significant remapping due to new tariff structures. U.S. trade policies have shifted competitive advantages, making imports like Italian rice **12%** cheaper while South African wine has become **17%** more expensive relative to competitors. The technology sector has moved into the "Year of Truth for AI." Enterprises are shifting focus from experimental pilots to "Agentic AI" and "Cloud 3.0" infrastructures. Investment is moving toward hybrid architectures that balance cloud elasticity with on-premises data sovereignty. This shift is expected to drive a **17%** increase in solar energy generation to meet the rising power demands of new data centers.
Axis Securities Maintains 'Accumulate' Rating on Bank of India
Market Brief: Global Equity and Commodity Overview **February 19, 2026** Global financial markets are navigating a period of heightened sensitivity as investors balance corporate earnings resilience against shifting central bank expectations and geopolitical tensions. Following the release of the latest Federal Open Market Committee (FOMC) minutes, market participants are reassessing the timing of potential interest rate adjustments, with attention firmly fixed on upcoming inflation data. Equity Market Performance U.S. benchmarks demonstrated a cautious upward trajectory in the most recent sessions. The **Dow Jones Industrial Average** remains positioned near the **49,662.66** level, while the **S&P 500** has climbed to approximately **6,881.31**. The **Nasdaq Composite** has shown particular strength, rising to **22,753.64**, driven by a sustained rebound in large-cap technology shares. In India, the **NIFTY 50** closed at **25,819.35**, gaining **93.95 points** (0.37%). This growth was supported by strong performance in the metal and insurance sectors. Conversely, the technology sector faced headwinds, with major players like Wipro and Infosys seeing declines. The **BSE Sensex** recently ended its losing streak, recovering to close above the **83,277** mark. Economic Indicators and Monetary Policy The global economic outlook for 2026 remains steady with a projected growth rate of **3.3%**, according to the latest IMF updates. In the United States, January headline inflation eased to **2.4%**, marking its lowest level since 2021. Despite this cooling trend, the Federal Reserve maintained interest rates at **3.75%** in February. Markets currently price in a **60%** probability of a rate cut by March, though some analysts suggest July is a more likely timeframe given the resilience of the labor market. Commodities and Currencies Energy markets are experiencing volatility due to ongoing tensions in the Middle East. **Brent Crude** is currently trading around **$67.72** per barrel, while **WTI Crude** saw a recent rally to **$64.04**. These fluctuations are closely tied to security developments in the Strait of Hormuz. Precious metals continue to serve as a hedge against uncertainty. **Gold** prices are hovering near **$5,047.14** per ounce, reflecting a modest year-to-date gain of **14.71%**. In domestic Indian markets, gold (24-carat) is priced at approximately **₹1,27,152** per 8 grams in major metros. The currency landscape shows the **USD/INR** pair stabilizing at **₹90.56**, providing a level of macroeconomic comfort for Indian exporters despite broader global volatility. Sector Trends and Key Events Technology continues to be the primary driver of market sentiment. While innovation remains a catalyst, concerns over the high cost of infrastructure and sector-wide disruptions have led to increased selectivity among investors. In the banking and financial services sector, private and public sector banks have shown resilience, with **Bank Nifty** rallying over **760 points** to reach **60,949.10**. Investors are also monitoring the impact of the **Union Budget 2026**, which introduced targeted tariff reductions to bolster domestic manufacturing and clean energy. Looking ahead, the market will focus on the **Personal Consumption Expenditures (PCE)** price index and advanced **GDP** growth estimates to gauge the next directional move for global equities.
Pre-Market Analysis: Trading Outlook for the Current Session
Market Brief: Indian Equities Extend Recovery Indian equity benchmarks maintained their upward trajectory for a third consecutive session on **February 18, 2026**, reinforcing a steady recovery from recent lows. The **Nifty 50** climbed **94.35 points** or **0.37%** to settle at **25,819.35**, while the **BSE Sensex** gained **283.29 points** or **0.34%** to close at **83,734.25**. Early signals for **February 19** from **Gift Nifty** suggest a positive opening, with the index trading near **25,842.00**, up approximately **85 points**. This indicates continued domestic strength despite a mixed global backdrop. Sector Performance and Key Drivers Market momentum was primarily fueled by a surge in **Metal** and **Public Sector Bank** stocks. The **Nifty Metal** index rose **1.33%**, led by a **2.9%** jump in **Tata Steel** following reports of potential U.S. tariff easing. **PSU Banks** also outperformed, gaining **1.31%** as institutional interest gravitated toward state-owned lenders. In contrast, the **Information Technology** sector remained a drag, declining by **1.2%**. Heavyweights like **Infosys** and **HCL Tech** faced selling pressure ahead of key industry summits, while **TCS** also recorded losses. Institutional Activity and Currency Domestic resilience was supported by a notable shift in institutional flows. On the latest reporting day, **Foreign Institutional Investors (FIIs)** turned net buyers, injecting **1,154.4 crore** into the cash segment. **Domestic Institutional Investors (DIIs)** provided additional support with a net purchase of **440.4 crore**. On the currency front, the **Indian Rupee** appreciated slightly by **6 paise** to close at **90.66** against the US Dollar. This stability is attributed to sustained foreign inflows and a cooling volatility index, with **India VIX** dropping to **12.67**, signaling reduced market nervousness. Outlook and Technical Levels The market maintains a "buy-on-dips" bias as it approaches the **26,000** psychological barrier. Analysts identify immediate resistance for the **Nifty 50** at the **25,850 – 25,900** zone. On the downside, strong support is established at **25,650**, backed by significant put writing in the options market. Global cues remain a critical factor, with investors closely monitoring **U.S. Federal Reserve** meeting minutes and movement in **Brent crude**, which recently drifted below **$82 per barrel**. This softening of energy costs is expected to benefit oil-importing economies like India. While broader market sentiment is positive, profit-booking at higher levels remains a possibility given the rapid three-day rally. Selective stock-picking in the **FMCG** and **Banking** sectors continues to be the preferred strategy for market participants.
Cochin Shipyard, Bharat Forge, HUL, Dr Reddy's, and L&T in focus today
Indian equity markets maintained positive momentum for the third consecutive session as key benchmarks climbed higher. The Nifty 50 finished at **25,819.35**, gaining **0.37%**, while the BSE Sensex rose by **283.29 points** to settle at **83,734.25**. Financial and metal sectors spearheaded the rally, with state-owned banks adding approximately **1.3%**. Metal stocks also surged by **1.3%** following reports of potential easing in international steel tariffs. In the currency market, the Indian rupee appreciated by **6 paise** to close at **90.66** against the US dollar. Cochin Shipyard emerged as a major focal point after being declared the lowest bidder for a Ministry of Defence project. The contract, valued at approximately **5,000 crore**, involves the construction of five Next Generation Survey Vessels for the Indian Navy. The stock responded with a rally of over **5.5%**, reaching an intraday high of **1,574.50**. Bharat Forge demonstrated robust technical momentum, recently hitting a 52-week high of **1,592**. The company reported a significant **111.98%** increase in operating profit, driven by healthy long-term sales growth of over **20%**. Institutional investors remain confident, maintaining a substantial **46.63%** stake in the firm. Hindustan Unilever (HUL) announced a major manufacturing expansion plan involving an investment of **2,000 crore** over the next two years. The capital expenditure will target premium categories in beauty, wellbeing, and home care liquids. This strategic move aims to build a technology-enabled supply chain operating on **100%** renewable energy. Dr. Reddy’s Laboratories strengthened its gynaecology portfolio by acquiring trademarks for specialty brands Progynova and Cyclo-Progynova in India. The deal, valued at **$32.15 million**, integrates brands that recorded sales of **100 crore** in 2025. The company’s latest quarterly revenue stood at **87,268 crore**, reflecting steady growth despite pricing pressures in global markets. Larsen & Toubro (L&T) unveiled a high-tech venture to establish India’s largest gigawatt-scale AI factory. The project will scale GPU cluster deployments at data centers in Chennai and Mumbai, reaching capacities of **30 MW** and **40 MW** respectively. Shares of L&T traded higher following the announcement, as the company’s total data center capital expenditure is estimated near **1,000 crore**.
Asian Equities Gain Following Wall Street Technology Sector Rally
Global Market Update February 19, 2026 Asian equity markets extended their recovery for a second consecutive session today, bolstered by a strong rebound in **U.S. technology shares**. Regional sentiment was further supported by robust economic data, despite light trading volumes as markets in China and Hong Kong remain closed for the Lunar New Year. The **MSCI Asia Pacific Index** climbed **0.6%**, reversing a three-day slide. In Japan, the **Nikkei 225** showed resilience as investors shifted back into hardware and chip-making stocks, which are central to the global electronics supply chain. Tech Sector and AI Sentiment Investor confidence is stabilizing as markets reassess the long-term impact of artificial intelligence. While early February saw the **Nasdaq 100** dip due to concerns over high valuations, recent earnings reports have provided a necessary cushion. The **S&P 500** remains supported by an earnings cycle in expansion mode, with **Q4 2025** blended earnings growth reaching **13.2%**. Information technology revenues specifically surged **20.6%**, led by massive prints from **Apple ($143.76B)** and **Microsoft ($81.27B)**. Investors now view the recent tech sell-off as a temporary overreaction. However, the forward **P/E ratio** for the **S&P 500** stands at **21.5**, suggesting the margin for error remains slim as growth rates are expected to normalize throughout **2026**. Energy and Commodities Oil prices maintained their recent upward trajectory, marking the most significant gains since last October. **WTI Crude** is trading near **$63.66** per barrel, up **1.22%**, while **Brent Crude** sits at approximately **$68.47**. Supply risks are currently the primary driver of price action. Market participants are monitoring naval drills near the **Strait of Hormuz**, a critical transit point for global crude. This geopolitical tension has added a risk premium to prices, even as the **IEA** forecasts a potential supply surplus later this year. Global oil demand is projected to rise by **850,000 barrels per day** in **2026**, with growth concentrated almost entirely in non-OECD economies, particularly in Asia. Economic Outlook The **IMF** has revised its global growth projection for **2026** slightly upward to **3.3%**. This resilience is attributed to steady technology investment and private sector adaptability. In the United States, consumer liquidity is expected to receive a boost from tax refunds. Early **2026** data indicates average refunds are up **10.9%** to **$2,290**, which may serve as a catalyst for a consumer-led revival in the coming months. This [Global Market Update](https://www.youtube.com/watch?v=u6KQYIW5XKo) provides deeper context on how enterprise technology and AI spending are shaping the current economic landscape. http://googleusercontent.com/youtube_content/0
LGT Prince: India Growth Hindered by Regulatory Complexity
LGT Group has identified India as a central pillar of its global international strategy, targeting a wealth management market currently valued at 154.25 billion USD. With projections suggesting this market will climb to 286.91 billion USD by 2030, the firm is intensifying its local operations to capture a larger share of the country's rapidly expanding affluent class. The group reported a strong financial performance for the first half of 2025, with total operating income rising 10% to 1.42 billion CHF. Group profits saw a significant 38% surge to 240.6 million CHF during this period. These gains come despite negative currency effects that slightly adjusted total assets under management to 359.6 billion CHF as of mid-2025. Prince Max von und zu Liechtenstein, Chairman of LGT, continues to emphasize that India is a key growth market capable of becoming a highly meaningful contributor to the group’s global footprint. To support this, LGT Wealth India recently expanded its leadership by onboarding a seven-member senior team from Barclays Private Bank. This move reinforces the firm’s commitment to providing high-touch advisory services to Ultra-High-Net-Worth families. Market dynamics in India are shifting toward more sophisticated financial instruments. Local Chief Investment Officers at the firm anticipate a return to double-digit corporate earnings growth by 2026. Key growth sectors include Information Technology, driven by 100 billion USD in quarterly global AI infrastructure spending, and the financial services sector, which is expected to account for nearly 50% of the index’s incremental earnings through 2028. Investor behavior in the region is maturing, with a marked shift from physical assets like gold and real estate toward financial savings. High-Net-Worth individuals are increasingly diversifying into alternative investments, including private credit and ESG-focused funds. The number of millionaires in India grew by 5.6% last year, and the total population of High-Net-Worth individuals is expected to reach 611,000 by the end of 2025. LGT is addressing these opportunities through a multi-year 200 million CHF investment in digitalization and artificial intelligence. These tools are designed to enhance internal efficiency and provide hyper-personalized portfolio recommendations, catering to a younger demographic of investors who prioritize transparency and sustainability alongside long-term capital appreciation. While navigating complex regulatory landscapes remains a priority, the firm maintains a disciplined outlook. By blending global investment expertise with deep local market knowledge, LGT aims to solidify its position as a preferred platform for India's evolving wealth ecosystem.
Metal Stocks Rise on Expectations of Strong Q4 Results
Indian Metal Sector: Market Brief February 2026 The Indian metal sector is maintaining a robust growth trajectory as of mid-February 2026. The Nifty Metal Index reached **11,985.75** on February 18, reflecting a steady **3.06%** gain over the last month and a remarkable **46%** surge over the past year. This performance significantly outpaces the broader benchmark indices, driven by a combination of domestic policy support and a stabilizing global demand outlook. Steel Sector Dynamics Steel stocks are leading the rally, with major players like Tata Steel and JSW Steel gaining between **1% and 2%** in recent intraday sessions. Domestic Hot-Rolled Coil (HRC) prices are currently averaging approximately **₹50,500** per ton. Market sentiment is bolstered by a **12% safeguard duty** implemented in late 2025, which has successfully shielded domestic producers from cheap imports and allowed for a price realization increase of roughly **₹3,500** per ton quarter-on-quarter. Demand is projected to grow by **9%** through 2026, fueled by aggressive infrastructure spending and a resurgent automotive sector. Non-Ferrous and Strategic Metals Non-ferrous producers are benefiting from a recovery in global commodity prices. Aluminum rose to **$3,084.50** per ton this week, marking a **14.93%** increase compared to last year. In the domestic scrap market, copper is trading at approximately **₹1,250** per kg for high-grade variants, while Zinc-Hindustan rates are holding firm at **₹347** per kg. A weaker rupee continues to provide a competitive edge for exporters, while limited global supply caused by energy-related smelter disruptions in other regions is keeping local inventories tight and prices elevated. Policy and Long-term Outlook The Ministry of Steel has recently reaffirmed its goal to reach a crude steel capacity of **300 million tonnes** by 2030. Current efforts are focused on a "Green Steel" transition, with the government introducing incentives for scrap recycling and low-carbon production technologies. Operating margins for the sector are stabilizing around **12.5%**. While raw material costs—specifically coking coal—showed some volatility early in the year, the current quarter remains seasonally strong for volume growth. Investors are closely watching the upcoming 2026 industrial roadmaps which emphasize digital integration and domestic value addition to reduce reliance on high-grade alloy imports.
**Indian Banks Eye \$15 Billion Opportunity as M&A Funding Norms Ease**
The Indian banking sector is on the verge of a structural transformation following the finalization of the Reserve Bank of India (RBI) guidelines for acquisition financing. These norms, set to take effect for the next financial year (FY27), dismantle long-standing barriers that prevented domestic banks from funding the purchase of corporate shares. This shift is expected to unlock a massive domestic credit market, previously the exclusive domain of offshore lenders, private credit funds, and Non-Banking Financial Companies (NBFCs). The revised framework allows commercial banks to finance up to 75% of an acquisition’s total value. To ensure "skin in the game," the acquiring entity must contribute the remaining 25% through equity or internal accruals. This is a significant expansion from previous drafts and signals the central bank’s growing confidence in the risk management capabilities of Indian lenders. Prudential safeguards remain central to the rollout. The post-acquisition consolidated debt-to-equity ratio is capped at 3:1 to prevent excessive leverage. Furthermore, the RBI has established a tiered eligibility system: listed acquirers must have a minimum net worth of 500 crore INR and a three-year track record of profitability. Unlisted companies can also participate but must hold an investment-grade credit rating of at least BBB-minus. The timing aligns with a significant surge in deal-making activity. Domestic consolidation in India reached a robust 104 billion USD in 2025, a two-year high driven by sectors like financial services, automotive, and technology. Total M&A value across the country climbed 37% year-on-year by the end of Q3 2025, reaching 26 billion USD in that quarter alone. Automotive led the charge in value, notably through Tata Motors' 4.45 billion USD acquisition of Iveco. For the banking system, this represents a major new asset class. Total bank credit in India crossed a historic milestone of 200 lakh crore INR in early 2026, with public sector banks currently outpacing private rivals in credit growth for the first time in over a decade. By allowing these banks to fund strategic, synergy-driven acquisitions, the RBI is positioning domestic capital to anchor India’s corporate expansion. The new rules also include sub-limits within the Capital Market Exposure (CME) framework. While a bank’s aggregate CME is capped at 40% of its Tier 1 capital, direct exposure and specific acquisition finance are each capped at 20%. These calibrated limits ensure that while the 10-15 billion USD annual financing opportunity is realized, the banking system remains insulated from volatile market swings. As 2026 progresses, the combination of healthy corporate balance sheets and this liberalized funding environment is expected to maintain momentum in mid-market deals and large-scale consolidations alike. The transition from offshore-dominated financing to a domestic bank-led model is likely to reduce the cost of capital for Indian corporates and foster a more self-reliant financial ecosystem. The comprehensive guidelines for acquisition financing can be explored in the [RBI Draft Rules](https://law.asia/rbi-acquisition-finance-draft-directions/), which details the eligibility and risk management requirements for banks entering this new asset class. This video provides an expert analysis of how the recent RBI reforms and the surge in M&A financing are evolving the Indian financial services landscape in 2026.
RBI Mandates Unique Transaction Identifiers for OTC Derivative Trades
The Reserve Bank of India has introduced a major regulatory overhaul for the over-the-counter (OTC) derivative markets, mandating the use of Unique Transaction Identifiers (UTIs) for all trades starting January 1, 2027. This directive, finalized in February 2026, applies to all direct private trades in rupee interest rate derivatives and foreign currency instruments. The move is designed to bring India’s reporting standards in line with global financial practices. By assigning a 52-character code to every contract, the RBI aims to create a permanent audit trail that remains constant throughout the lifecycle of a trade. This will allow regulators to aggregate data effectively and monitor systemic risks in a market that has seen significant scale. Recent data highlights the importance of this oversight. India’s foreign exchange market reached a valuation of approximately 33.40 billion USD in 2025 and is projected to grow at a compound annual rate of 8.4% through 2034. Within this space, currency swaps currently lead with a 40.28% market share, while reporting dealers facilitate 42.1% of all transactions. In the interest rate segment, the RBI’s recent policy shift provides a backdrop of stability for these derivatives. Following a cycle of 125 basis points in rate cuts during the 2024-2025 period, the central bank held the repo rate steady at 5.25% in February 2026. This "neutral" stance is intended to support a projected GDP growth of 7.4% for the 2025-2026 fiscal year while keeping inflation near the 4% target. The UTI mandate specifically targets OTC instruments such as forward contracts in government securities, credit derivatives, and overnight index swaps. Previously, market participants relied on internal deal numbers, which often led to inconsistencies between counterparties. Under the new framework, if a transaction is reported without a UTI, the Clearing Corporation of India Limited (CCIL) will generate one automatically to ensure no trade remains untracked. Financial institutions, including large private banks and corporate treasuries, are now required to upgrade their internal systems to handle these identifiers. While this transition may involve initial compliance costs, the structural shift is expected to reduce counterparty credit risk. To further deepen the market, the government also recently announced the introduction of total return swaps on corporate bonds and new derivatives on corporate bond indices. The timeline through 2027 provides a clear window for the industry to adapt. Operational guidelines from the CCIL are expected shortly to assist with the technical transition, ensuring that India’s derivatives ecosystem—which recently saw cumulative FDI inflows hit the 1 trillion USD milestone—remains transparent and resilient against global volatility.
**Indian Steel Sector Anticipates Multiple IPOs Over the Next Eight to Ten Months**
India’s steel sector is entering a high-velocity phase of primary market activity. Over the next eight to ten months, at least 10 steel producers and related entities are set to launch IPOs. These companies aim to raise between **₹5,000 crore** and **₹7,000 crore**. The momentum is supported by a robust domestic demand outlook. For the 2025-26 period, steel consumption in India is projected to grow by **9%** to **10%**. This outpaces the global demand forecast, which remains muted at roughly **1.2%**. Market activity is picking up as of February 2026. Domestic steel indices show a steady uptrend, with the BigMint India Steel Composite Index recently rising **1.7%**. This reflects higher mill prices and improving sentiment as the fourth quarter of the fiscal year begins. Key prices have seen upward revisions to counter rising input costs. Primary mills have hiked rebar prices by up to **₹3,000** per tonne. Hot-rolled coil (HRC) trade prices currently hover around **₹53,800** per tonne, while cold-rolled coil (CRC) is priced near **₹59,400** per tonne. The industry is undergoing a massive capacity expansion. India’s crude steel production capacity has already hit **205 million tonnes (MT)**. Major players are driving this further, with the national goal set at **300 MT** by 2030. Government intervention is a critical driver for this growth. A **12% safeguard duty** introduced in December 2025 has helped protect domestic manufacturers from cheap imports. Additionally, the Production Linked Incentive (PLI) scheme has attracted committed investments of over **₹27,100 crore** for specialty steel. Infrastructure and defense remain the primary consumers. However, newer segments like electric vehicles and renewable energy are emerging as major demand drivers for high-grade steel. Listed steel stocks are reflecting this positive environment. In mid-February 2026, shares of leaders like Tata Steel and JSW Steel gained up to **2%** in a single session. Many top-tier steel stocks have outperformed the broader benchmark indices by **7%** to **16%** over the last month. Expansion remains the priority for capital use. Tata Steel alone has committed **₹15,000 crore** in capital expenditure for the 2025-26 fiscal year. These funds are being directed toward scaling production and modernizing plants to meet stricter environmental standards. While global conditions remain volatile, the Indian steel market is decoupling from international slowdowns. Tighter inventory levels at primary mills—down nearly **40%** month-on-month in early February—suggest a supply-side crunch that could sustain price levels in the near term.
AI to Drive Modernization Rather Than Disruption, Says Barclays CEO C.S. Venkatakrishnan
India is solidifying its status as a premier global growth engine, with recent forecasts projecting real GDP to expand by 8.2% in the current fiscal cycle. This momentum is expected to remain robust, with estimates for 2026-27 hovering between 6.8% and 7.2%. The nation’s digital economy is scaling rapidly, currently accounting for 10% of GDP and on track to reach 20% by 2026. This shift is headlined by the Unified Payments Interface (UPI), which now processes approximately 49% of all global real-time transactions. In November 2025 alone, UPI recorded over 19 billion transactions valued at 24.58 trillion rupees. Barclays CEO C. S. Venkatakrishnan emphasizes that India’s digital transformation is moving beyond basic access into a phase of "Intelligent India." AI is viewed as a critical modernizing force rather than a threat to employment. Current data shows AI adoption among Indian firms has surged from 8% in 2023 to 25% by 2024, with generative AI projected to add up to 438 billion dollars to the economy by 2030. The global credit environment is entering a sensitive phase as the era of cheap borrowing concludes. Market analysts highlight a tightening credit cycle, with global sovereign outlooks shifting toward more cautious territories. Rising debt and funding costs are pressuring developed markets, while emerging economies face increased volatility. Geopolitical dynamics are increasingly mirroring the structural shifts of the 1970s and 80s. The decline of hyper-globalization has forced nations to prioritize supply chain security and bilateral trade agreements. India’s strategic focus on securing critical minerals and its new trade deals with the U.S. and EU are central to this realignment. Despite global trade uncertainties and tariff risks, India’s external buffers remain formidable. Foreign exchange reserves stand at approximately 701.4 billion dollars, providing nearly 11 months of import cover. Inflation has also softened significantly, with core figures hitting historic lows near 2% in late 2025. The infrastructure landscape is also pivoting toward sustainability. India recently achieved 50% of its electricity capacity from non-fossil sources, reaching 262.74 GW. This convergence of green energy and digital infrastructure is creating a resilient foundation for long-term industrial expansion. Capital markets reflect this optimism, with FDI in computer software and hardware making up over 15% of cumulative inflows. The startup ecosystem has also rebounded, securing 10 billion dollars in funding during recent cycles, signaling a transition from capital preservation to profitable growth.
Pernod Ricard Explores Stock Market Listing for India Unit
Pernod Ricard is reportedly exploring a separate stock market listing for its Indian subsidiary. Preliminary talks with financial advisors are currently underway as the French drinks giant seeks to unlock value in its second-largest global market. The move comes at a critical time for the brand in India. Recent financial filings for the 2024-25 fiscal year show Pernod Ricard India maintaining its position as the country's leading alcoholic beverage firm by value. The company reported consolidated sales of 27,445.80 crore rupees, narrowly edging out its primary competitor, Diageo India. Profitability remains strong despite complex local regulations. The Indian unit recorded a net profit of 1,734.59 crore rupees in the latest fiscal cycle, marking an 8% increase from the previous year. This growth is largely driven by a aggressive "premiumization" strategy, as consumers shift toward high-end spirits like Chivas Regal, Glenlivet, and Jameson. The potential IPO follows a year of significant portfolio shifts. Pernod Ricard recently hived off its popular Imperial Blue brand to Tilaknagar Industries for approximately 3,442 crore rupees. This divestment allows the firm to focus on higher-margin, super-premium categories where demand is surging. However, the path to a public listing faces notable regulatory hurdles. The company is currently navigating an investigation by the Competition Commission of India into alleged collusion with retailers in southern states. Simultaneously, it is contesting a federal tax demand of roughly $250 million related to liquor import valuations. Market dynamics in India remain highly attractive for investors. The domestic alcohol sector is projected to reach a valuation of over $208 billion by late 2026. Experts anticipate a steady growth rate of 7.2% through the next decade, fueled by a young demographic and rising disposable incomes in urban centers. A local listing would offer Pernod Ricard a dedicated capital structure to navigate India's state-specific tax laws and licensing frameworks. With the Indian spirits market outperforming global averages, a successful IPO could set a new benchmark for multinational beverage players in the region.
Starbucks Investor Group Seeks Board Changes Amid Labor Dispute
Starbucks is currently navigating a pivotal transformation period as shareholders prepare for the 2026 Annual Meeting on March 25. A coalition of institutional investors, including the New York City Comptroller, is formally urging a vote against the re-election of directors Jørgen Vig Knudstorp and Beth Ford. The pressure stems from what investors describe as sustained oversight failures regarding labor relations. Despite a public commitment to reach a first contract with the Starbucks Workers United union by the end of 2024, negotiations have reportedly stalled. To date, no collective bargaining agreement has been ratified for the more than 11,000 unionized baristas across 490 stores. Financial and operational risks are mounting alongside these disputes. In December 2025, Starbucks reached a record 38.9 million dollar settlement with New York City over Fair Workweek Law violations. Furthermore, the "Red Cup Rebellion" strikes have expanded to over 670 locations, impacting brand reputation and consistent store performance. On the market front, the "Back to Starbucks" strategy led by CEO Brian Niccol is showing early signs of financial recovery. For the first quarter of fiscal 2026, the company reported total revenue of 9.9 billion dollars, a 6% increase year-over-year. Global comparable store sales grew by 4%, marking the first U.S. transaction growth in eight quarters. Stock performance remains steady but cautious. As of mid-February 2026, Starbucks shares are trading around 95.39 dollars, with a market capitalization of approximately 107 billion dollars. While revenue is rising, operating margins have contracted to 10.1% due to heavy investments in labor and technology. Management continues to emphasize a "partners-first" approach, highlighting significant investments in worker benefits and store-level technology. However, the investor group argues that the recent elimination of the Board’s dedicated labor oversight committee signals a retreat from these promises. The outcome of the March director vote will likely serve as a referendum on whether the current leadership can balance aggressive financial growth with the resolution of long-standing labor conflicts. For now, the company maintains its fiscal 2026 guidance, targeting earnings per share between 2.15 and 2.40 dollars while continuing its global expansion.
Market Outlook: 10 Key Factors Influencing Thursday's Trading Action
Indian equity markets demonstrated resilience as the Nifty 50 and BSE Sensex extended their winning streak for a third consecutive session. Gains were primarily fueled by a strong showing in the metal and PSU banking sectors, which managed to offset continued weakness in the IT space. **Benchmark Performance** The **BSE Sensex** rose by **283.29 points** or **0.34%** to settle at **83,734.25**. The **Nifty 50** climbed **93.95 points** or **0.37%** to finish at **25,819.35**. **Market Breadth and Institutional Activity** The overall market sentiment remained positive, with the **Nifty Midcap 100** adding **0.50%** to reach **60,183.20**. Institutional data revealed a supportive environment as **Foreign Institutional Investors (FIIs)** turned net buyers, purchasing shares worth **₹995.21 crore**. **Domestic Institutional Investors (DIIs)** also remained on the buy side with a net inflow of **₹187.04 crore**. **Sectoral Highlights** **Top Gainers**: Metal stocks and state-owned lenders led the rally. Individual standouts included **Kwality Wall’s** (up **4.97%**), **HDFC Life** (up **3.39%**), and **Tata Steel** (up **2.84%**). **Top Losers**: The IT sector faced renewed pressure. **Wipro** declined **1.64%**, while **Tech Mahindra** and **Infosys** fell by **1.56%** and **1.38%** respectively. **Macroeconomic Landscape** The market is reacting to a backdrop of cooling inflation. India's retail inflation (CPI) eased significantly to a seven-month low of **3.61%**, down from **4.26%** in the previous month. This cooling was largely driven by a sharp drop in food inflation, which fell by **222 basis points** to **3.75%**. Industrial activity remains robust, with the **Index of Industrial Production (IIP)** expanding by **5.0%**, surpassing market expectations. Growth was particularly strong in manufacturing (**5.5%**) and electrical equipment (**21.7%**). **Technical Outlook** Analysts anticipate a period of consolidation following this three-day rally. **Nifty 50 Support/Resistance**: Immediate support is identified at **25,600**, with a deeper demand zone at **25,300**. Resistance is capped at **26,000**, which serves as a significant psychological barrier. **Sensex Support/Resistance**: The index finds key support near **83,000**, while resistance is expected between **83,850 and 83,950**. The short-term bias remains sideways-to-bullish, though investors are advised to track global cues and continued FII flows as the indices approach these overhead hurdles. [Indian Stock Market Today: Latest on Nifty and Sensex](https://www.youtube.com/watch?v=qCwV0unkLWg) This video provides a deep dive into the latest retail inflation and industrial production data, which are key drivers for current market movements. http://googleusercontent.com/youtube_content/0
**Pinterest Stock Climbs as Revenue Outlook Increases Following tvScientific Partnership**
Pinterest has finalized its acquisition of tvScientific, marking the platform’s most significant move in the ad-tech space since 2022. This deal, valued by industry analysts in the range of **$300 million** to **$350 million**, directly integrates performance-driven Connected TV (CTV) capabilities into Pinterest’s existing advertising ecosystem. The transaction has immediate financial implications, as Pinterest recently raised its first-quarter 2026 revenue guidance to a range of **$958 million** to **$978 million**. This update, which incorporates partial-quarter contributions from tvScientific, reflects a year-over-year growth target of **11%** to **14%**. The company also projected Adjusted EBITDA between **$163 million** and **$183 million** for the same period. Strategically, the acquisition addresses the rising demand for accountability in television advertising. By merging its high-intent shopper data with tvScientific’s outcome-based engine, Pinterest enables brands to track whether a TV ad leads to a specific purchase. This "closed-loop" measurement is critical as the U.S. CTV ad market is projected to reach **$37.95 billion** by the end of 2026. The integration focuses on Pinterest’s "Performance+" suite, an AI-powered tool designed to automate media buying and optimize campaigns across multiple screens. With over **600 million** monthly active users and a **14%** increase in 2025 annual revenue, Pinterest is positioning itself to capture a larger share of performance budgets. This shift is particularly relevant as **69%** of viewers now use a second screen, such as a mobile phone, while watching TV. While the deal strengthens Pinterest’s competitive stance against larger players, the company faces a complex macroeconomic environment. Executives have noted potential headwinds from new tariffs and intense competition from Meta and Google, which may impact ad spending volatility. Despite these challenges, the platform maintains a strong liquidity position with a cash and equivalents balance of approximately **$2.7 billion**. This acquisition signals a broader industry trend where the lines between social media performance and traditional brand awareness are disappearing. By owning the underlying technology for CTV attribution, Pinterest aims to offer advertisers a unified system that connects mobile intent with large-screen impact, moving beyond "views and vibes" toward measurable return on ad spend.