After Friday’s sharp sell-off, the market is hoping for a relief rally, but supportive triggers appear limited. Signs that the US–Iran talks are progressing better than expected could ease geopolitical tensions. Friday’s trade in the US suggested that concerns around the technology sector may be moderating.
However, the Reserve Bank’s decision to tighten bank funding to brokers has unsettled sentiment. The liquidity-curbing norms will come into effect from April 1. The new rules are likely to significantly reduce margin trading activity. Traders with leveraged positions may rush to liquidate in the coming weeks, which could weigh on Indian markets today.
Progress in US–Iran talks could ease geopolitical tensions.
US technology stocks showed signs of stabilising on Friday.
Fresh Reserve Bank restrictions on broker funding may tighten liquidity.
Existing margin positions could see forced unwinding in the coming weeks.
India’s foreign trade data and wholesale price index are due today. After softer retail inflation, markets expect wholesale inflation to also show moderation.
In GIFT City derivatives trade, GIFT Nifty closed at 25,453.50 on Friday night. It opened at 25,509.50 this morning and slipped to 25,424, signalling a weak start for domestic equities.
In the New York ADR market, Infosys gained 3.59 percent and Wipro rose 2.63 percent.
Concerns that artificial intelligence could dent revenues dragged IT stocks lower in early trade. Broader weakness across sectors deepened losses.
BSE Sensex: down 1,048.16 points (1.25 percent) to 82,626.76
Nifty 50: down 336.10 points (1.30 percent) to 25,471.10
Bank Nifty: down 553.10 points (0.91 percent) to 60,186.65
BSE: 1,253 stocks advanced; 2,960 declined
NSE: 762 advanced; 2,387 declined
44 NSE stocks hit 52-week highs; 131 hit 52-week lows
Foreign portfolio investors sold ₹7,395.41 crore in the cash market.
Domestic institutions bought ₹5,553.96 crore.
Nifty closed just above its 20-day moving average of 25,468.
A break below could push it towards 25,300–25,200.
Support: 25,400 and 25,330.
Resistance: 25,580 and 25,700.
The Reserve Bank has announced stricter lending conditions for banks financing brokers, effective April 1.
40 percent haircut on shares pledged as collateral.
Lending against mutual fund units capped at 75 percent of value.
Bank funding for proprietary trading barred.
The move aims to curb excessive speculation and margin trading. Along with higher derivatives taxation announced in the Budget, the measures may reduce volatility but could also dampen trading volumes in the near term.
Manappuram Finance received conditional approval to transfer a 41.66 percent stake to Bain Capital. Bain will launch an open offer at ₹236 per share. The stock closed at ₹302.65.
Religare Enterprises will be reorganised in a 1:1 ratio, separating insurance and other financial services businesses.
Tilaknagar Industries reported a quarterly loss despite strong revenue growth.
Torrent Pharmaceuticals posted robust growth in revenue and profit.
Ola Electric Mobility narrowed its net loss, though revenue fell 55 percent.
Inox Wind reported improved operating profit.
Gold rose 2.45 percent to close at $5,043.20 per ounce.
Silver gained 2.83 percent to $77.57.
In Kerala, 22-carat gold closed at ₹1,13,760 per sovereign on Friday and rose to ₹1,15,680 on Saturday.
Dollar index: 96.94
Rupee: ₹90.64 against the dollar
Brent Crude settled at $67.75 per barrel. WTI was at $62.88.
Softer-than-expected retail inflation and easing technology concerns supported US equities.
Annual retail inflation: 2.4 percent
Monthly increase: 0.2 percent
Core inflation (excluding food and fuel): 2.5 percent
Dow Jones Industrial Average rose 48.95 points (0.10 percent) to 49,500.93.
S&P 500 gained 3.41 points (0.05 percent) to 6,836.17.
Nasdaq Composite fell 50.48 points (0.22 percent) to 22,546.67.
US futures were marginally higher this morning.
European markets closed mixed. Reports that US President Donald Trump may ease steel and aluminium tariffs weighed on metal stocks.
Asian markets traded with mild gains, though Japan saw volatility after weaker-than-expected growth data. Chinese markets are shut for Lunar New Year holidays.
Talks between the US and Iran are reportedly expanding beyond nuclear and missile issues to include broader trade and economic cooperation.
US President Donald Trump’s special envoy Steve Witkoff and investor Jared Kushner are said to be involved.
Proposals reportedly include:
US investment in Iranian oilfields and mines
Aircraft purchases
Broader economic engagement
If successful, the talks could ease geopolitical tensions and put further downward pressure on crude oil prices, with wider implications for West Asia and major powers such as China and Russia.
(February 13, Friday)
Sensex: 82,626.76 (-1.25 percent)
Nifty 50: 25,471.10 (-1.30 percent)
Bank Nifty: 60,186.65 (-0.91 percent)
Midcap 100: 59,438.00 (-1.71 percent)
Smallcap 100: 17,032.90 (-1.79 percent)
Dow Jones: 49,500.93 (+0.10 percent)
S&P 500: 6,836.17 (+0.05 percent)
Nasdaq: 22,546.67 (-0.22 percent)
Dollar: ₹90.64 (+₹0.05)
Gold (ounce): $5,043.20 (+$120.40)
Gold (sovereign): ₹1,13,760 (-₹2,400)
Gold (Saturday): ₹1,15,680 (+₹1,920)
Brent crude: $67.75 (+$0.26)