Market Brief: February 24, 2026 The Indian equity benchmarks witnessed a sharp sell-off today, with the **Nifty 50** plunging over **385 points** to hit an intraday low of **25,327.60**. This **1.5%** decline follows a period of consolidation, as the index struggled to maintain levels above the **25,700** mark established earlier in the week. Bearish sentiment was fueled by heavy profit booking across most sectors, triggered by weak global cues and persistent concerns regarding artificial intelligence-led disruptions in the technology space. The **Sensex** mirrored this weakness, crashing more than **1,300 points** during the session to trade near the **81,934** level. Technical Support and Resistance The Nifty is currently testing critical psychological and technical floors. Analysts identify a primary support zone at **25,200**, which aligns with the **200-day moving average** and a significant retracement level from previous rallies. If the current selling pressure persists and breaches the **25,200** threshold, the next major demand zone is expected around **25,000**. Conversely, immediate resistance is noted at **25,600**, followed by a heavy supply zone at **25,800**. Sectoral Performance and Divergence Despite the broader market weakness, the banking sector continues to show relative resilience. **Bank Nifty** has outperformed the headline index, supported by domestic buying and stability in private lenders. The **PSU Bank index** notably gained **1.35%** even as the broader market faltered. In contrast, the **IT sector** remains the primary laggard, with the **Nifty IT index** tumbling over **4%**. High-profile stocks like **Infosys**, **TCS**, and **Tech Mahindra** led the declines, mirroring an overnight sell-off in US technology stocks. Stock-Specific Headlines * **MobiKwik:** Shares surged up to **12.6%** following BSE approval for its subsidiary to commence stockbroking operations. * **Bharti Airtel:** Witnessed a decline of nearly **3.8%** after announcing a **₹20,000 crore** capital injection plan for its NBFC arm. * **Bank of Maharashtra:** Scaled a fresh **52-week high** of **₹72.44** amid positive corporate announcements. * **Waaree Energies:** Gained **2.5%** after securing a new **500 MW** solar module supply order. Institutional and Global Context Foreign Institutional Investors (FIIs) have remained net sellers in recent sessions, with outflows recorded near **₹638 crore** last week. However, Domestic Institutional Investors (DIIs) continue to provide a cushion, absorbing much of the selling pressure. Global uncertainty regarding US tariff policies and geopolitical tensions remains a significant overhang, keeping the **India VIX** elevated at approximately **14.36**. Market breadth has weakened, with mid-cap and small-cap indices also dropping by up to **1%** in today’s trade.