Market Brief: February 11, 2026 The global financial landscape is currently defined by shifting interest rate expectations and localized equity strength. While major benchmarks show signs of a broadening rally, specific sectors—particularly technology and software—have faced recent volatility due to shifting narratives. Equities and Indices The **S&P 500** and **Dow Jones** maintain a positive bias, with Dow futures climbing over **100 points** in recent sessions. Despite this, the **S&P 500 Software & Services Index** has experienced a sharp **7.5%** weekly decline, extending year-to-date losses to **18.6%**. In Asia, the **Nifty 50** is trading firmly around **25,935**, holding above the critical **25,500** support level. The **Bank Nifty** continues to lead, sustaining levels above the psychological **60,000** mark. Conversely, the **Hang Seng Index** fell **3.0%** recently as investors reassessed valuations. Commodities and Energy Gold has reached historic peaks, with 24K gold trading at approximately **₹1,58,780 per 10 grams**. Prices have climbed **12%** year-to-date, significantly outpacing equities as a preferred inflation shield. Silver remains highly volatile, quoted near **₹2,52,300 per kg**. Crude oil is trending upward, reaching **$69.36 per barrel**. This represents a **5.14%** increase for February, driven by geopolitical tensions in the Middle East that have outweighed rising inventory reports. Central Bank Policy The **Reserve Bank of India** has maintained the repo rate at **5.25%**, signaling a neutral stance. Inflation for the fiscal year is projected at **2.1%**, though officials warned of upside risks from rising precious metal prices. The **Bank of England** also held its rate steady at **3.75%** in a tight **5-4** vote. Meanwhile, **Australia** recently raised rates to **3.85%**, highlighting the divergent paths central banks are taking as global inflation begins to normalize. Currency and Digital Assets The **US Dollar** remains roughly **15%** overvalued according to fair value models, with experts anticipating potential downside as rate convergence continues. The **USD/INR** pair is currently hovering around **₹90.58**. Digital assets have faced significant pressure. **Bitcoin** recently slipped below the **$70,000** threshold, influenced by record net redemptions in spot ETFs and over **$6.5 billion** in liquidated long positions. Key Economic Events A nationwide bank strike is scheduled for **February 12**, potentially disrupting financial services across several major institutions. Global markets are also awaiting the release of a new **CPI series** on the same day, which is expected to provide a clearer trajectory for future monetary policy.