Market Brief: Indian Benchmarks Hold Steady Amid Sectoral Divergence Indian equity benchmarks, **Sensex** and **Nifty 50**, are exhibiting a resilient but cautious performance as of February 18, 2026. The market is currently balancing between a robust rally in industrial sectors and a persistent, technology-driven selloff. Performance Indicators The **BSE Sensex** is trading near **83,428**, showing a marginal dip of **0.03%** or **22 points**. Similarly, the **NSE Nifty 50** remains stable around the **25,722** level. Despite the flat movement in frontline indices, the broader market shows significant strength. The **BSE SmallCap** index has surged by **0.45%**, while the **MidCap** index is up **0.26%**, indicating healthy buying interest in smaller-sized companies. Sectoral Winners and Losers Metal and Public Sector Undertaking (PSU) stocks continue to provide the primary upward momentum. The **Nifty PSU Bank** index has seen gains of over **2%**, supported by strong quarterly earnings and valuation re-ratings. Metal counters are also benefiting from a recovery in global commodity prices. In contrast, the Information Technology (IT) sector is facing a severe valuation correction. The **Nifty IT** index has faced a sharp decline, with major players losing significant market capitalization. This "AI-scare" has wiped out approximately **$56 billion** in sector value over recent sessions as investors weigh the impact of new automation tools on traditional outsourcing models. Key Stock Movements Individual stocks are witnessing sharp volatility based on specific corporate developments: * **Tech Mahindra**: The stock has dropped **2.15%** to trade at **₹1,491**, reflecting the broader weakness in tech exports. * **Kwality Wall's (India)**: Recently listed after its demerger from HUL, the stock plummeted **6.24%** to **₹27.94**, continuing its post-listing price discovery phase. * **Dilip Buildcon**: Surged **3.39%** following a successful **₹702 crore** bid for a government project. * **Bharat Heavy Electricals (BHEL)**: Gained **0.65%** after securing a major power plant contract valued between **₹1,200—1,500 crore**. Global and Macro Context The domestic sentiment is supported by positive cues from the Asia-Pacific region, with Japan’s **Nikkei 225** advancing nearly **1%**. Additionally, institutional activity remains supportive; foreign portfolio investors (FPIs) were net buyers of shares worth **₹995 crore** in the previous session. The Indian Rupee has strengthened slightly to **90.67** against the US Dollar, while the 10-year bond yield has inched up to **6.67%**. These indicators suggest a market that is consolidating its recent gains while shifting capital from high-valuation tech stocks toward infrastructure and state-owned enterprises.