Market Overview Indian equity benchmarks surged on Monday, February 23, 2026, as domestic investors cheered a landmark U.S. Supreme Court ruling that struck down sweeping trade tariffs. The decision fueled a relief rally across Asian markets, providing a tailwind for Indian indices. The **BSE Sensex** climbed **480 points** to settle at **83,294.66**, while the **NSE Nifty 50** advanced **141.75 points** to close at **25,713**. Buying interest was concentrated in banking, power, and FMCG sectors, even as the IT index faced pressure from ongoing AI-driven disruption concerns. Banking Sector Turbulence Despite the broader rally, the banking sector witnessed significant localized volatility. **IDFC First Bank** shares plummeted **16.1%** to end at **70.08** following reports of a **590 crore** fraud at its Chandigarh branch. The fallout led to the suspension of four employees and the appointment of KPMG for a forensic audit. The situation worsened for the lender as the **Haryana Government** de-empanelled both **IDFC First Bank** and **AU Small Finance Bank** for state business. Consequently, **AU Small Finance Bank** shares dropped over **5%** to close at **976.40**, as investors reacted to the loss of government deposits and transactions. Corporate Restructuring and Defence **UPL Limited** saw a sharp sell-off, with its stock crashing **14.3%** to close at **645.05**. The decline followed the announcement of a complex group restructuring plan aimed at separating its Indian and overseas crop protection businesses. While the move targets transparency, analysts flagged concerns over unresolved debt levels. In the defence space, **Hindustan Aeronautics Limited (HAL)** experienced selling pressure, with shares falling **7.2%** to close at **4,025**. This move came despite recent strong quarterly earnings, as the stock faced profit-booking amid broader sectoral rotations. Strategic Gainers **Adani Ports** emerged as the top gainer on the Sensex, rising nearly **3%** to reach **1,549**. The stock saw a massive surge in derivatives open interest, jumping over **11%**, signaling high conviction among traders for further upside. The company is currently trading just **2%** below its 52-week high. In the small-cap segment, **Kitex Garments** outperformed the market significantly, surging nearly **10%** to hit an intraday high of **205.45**. The textile player saw robust buying momentum, reversing a four-day losing streak and outpacing the general garments sector by over **6%**.