Indian equities ended the week on a cautious note, with benchmark indices hovering near immediate support levels amid persistent foreign selling and mixed global cues.
The Nifty 50 closed at 25,170, down 1.5%, while the Nifty Bank settled at 60,500, losing 1.2% for the week. Both indices are trading dangerously close to critical support zones.
Technical View: Make-or-Break Zone
Nifty 50
Support: 25,100
Resistance: 25,500
Nifty Bank
Support: 59,650
Resistance: 61,880
Momentum indicators reflect a negative bias. A decisive breach below support could trigger extended profit booking, while a sustained move above resistance may revive bullish momentum.
FII vs DII: Domestic Institutions Lead February Support
Despite weekly volatility, institutional flows revealed a notable shift.
FIIs sold ₹6,640 crore (till Feb 27)
DIIs bought ₹38,423 crore (till Feb 27)
While both FIIs and DIIs turned net buyers for February overall, domestic institutions clearly anchored the market during bouts of weakness, absorbing foreign outflows.
Sectoral Trends: Metals Shine, IT Under Pressure
Strong & Positive Sectors
Iron & Steel
Stocks: Tata Steel, JSW Steel, SAIL
Broad participation, constructive price structure, and strong momentum across moving averages supported gains.
Non-Ferrous Metals
Stocks: Hindalco, Vedanta, National Aluminium Company
RSI and price trends remain firmly positive, with most stocks trading above key averages.
Diamond & Jewellery
Stocks: Titan Company, Kalyan Jewellers, Senco Gold
Strong relative strength and steady buying interest ahead of festive and wedding demand.
Mixed / Selective
Aviation
Stocks: InterGlobe Aviation, SpiceJet
Short-term momentum remains strong, but participation is narrowing. Rising volatility warrants caution.
Weekly Gainers and Losers
Top Gainers
Apollo Hospitals Enterprise (+2.7%)
Strong Q3 earnings driven by improved ARPOB and occupancy levels.
NTPC (+2.4%)
Buying interest in PSU power stocks amid robust generation data and renewable capacity expansion.
JSW Steel (+2%)
Supported by rising global steel prices and improved domestic demand expectations.
Titan Company (+2%)
Strong jewellery demand outlook and positive retail commentary.
Top Losers
Eternal Ltd (-8%)
Profit booking after recent upmove.
Tech Mahindra (-6%)
IT weakness amid global tech uncertainty.
Infosys (-5%)
Continued pressure on large-cap IT due to global demand slowdown concerns.
Institutional & Insider Activity
Upnishad Holdings acquired 3.25 lakh shares of Asian Paints at ₹2,410, while Smiti Holding & Trading offloaded an equal quantity.
Director Randhir Singh purchased 20,000 shares of Indostar Capital Finance at ₹223.36 per share.
IPO Watch
Yashtej Industries (India) Ltd had a muted SME listing, debuting at ₹88 versus an issue price of ₹110.
Upcoming: Striders Impex Ltd (SME)
Issue Size: ₹35.78–₹36.29 crore
Price Band: ₹71–₹72
Closes: March 2, 2026
Global Cues & Macro Watch
US Markets (WoW)
S&P 500 -0.6%
Dow Jones Industrial Average -1.4%
Nasdaq Composite -0.25%
US equities ended in the red, reflecting cautious investor sentiment.
Commodities & Currency
WTI Crude Oil: $66.8 per barrel (+2% WoW)
Dollar Index: 97.7 (-0.2% WoW)
Oil’s rise signals improving demand expectations, while a softer dollar offers marginal support to emerging markets.
The Week Ahead
Key Data to Watch:
India Industrial Production
EU CPI
US ADP Nonfarm Employment
China Manufacturing PMI
US Services PMI
US ISM Non-Manufacturing PMI
Strategic Takeaway
Markets are at an inflection point. Domestic liquidity remains supportive, but technical structures suggest caution.
A sustained recovery above 25,500 on Nifty could re-establish bullish momentum. Conversely, a break below 25,100 may intensify corrective pressure.
