Global markets regained momentum as concerns around technology stocks subsided. However, fresh geopolitical worries emerged after Israeli media reports suggested the US could consider military action against Iran over the weekend. CNN reported that Donald Trump has not taken a final decision. Crude oil prices surged above $70 a barrel amid the uncertainty.
Asian markets extended gains this morning after strong sessions in the US and Europe. Indian equities are set to open on a positive note.
Gift Nifty closed at 25,842.00 on Wednesday night and, after dipping to 25,819 in early trade, recovered — signalling a firm start for domestic markets.
Indian equities recovered from early losses to close with moderate gains.
Sector highlights:
Metals, FMCG, public sector banks and capital market stocks led the rally.
IT stocks rose in early trade but pared gains later.
Closing levels:
Sensex: 83,734.25 (+0.34 percent)
Nifty 50: 25,819.35 (+0.37 percent)
Bank Nifty: 61,550.80 (+0.62 percent)
Mid Cap 100: 60,183.20 (+0.50 percent)
Small Cap 100: 17,239.25 (+0.54 percent)
Market breadth remained positive. On the BSE, 2,187 stocks advanced versus 2,018 declines. Foreign portfolio investors bought ₹1,154.34 crore in the cash market, while domestic institutions added ₹440.34 crore.
Technical view:
Nifty closing above 25,800 strengthens momentum towards 26,000.
Support: 25,700 and 25,650.
Resistance: 25,875 and 25,945.
Dr. Reddy’s Laboratories acquired Proginova and Cyclo-Proginova brands from Mercury Pharma Group for $32.15 million.
Hindustan Unilever approved ₹2,000 crore capex over two years to expand premium beauty and skincare capacity.
Zydus Life Sciences received US FDA approval for Bosentan tablets.
National Highways Authority of India barred NCC Limited and its subsidiary from bidding for two years.
Wall Street advanced sharply on Wednesday before paring gains in late trade, indicating easing anxiety over technology stocks.
Key triggers:
Minutes of the US Federal Reserve showed a majority favour rate cuts only if inflation cools further, dampening hopes of two cuts this year.
Comments from US Vice President J. D. Vance that Iran had not shown sufficient flexibility heightened geopolitical concerns.
Crude oil jumped 4 percent on rising tension fears.
Closing levels:
Dow Jones: 49,662.66 (+0.26 percent)
S&P 500: 6,881.31 (+0.56 percent)
Nasdaq Composite: 22,753.64 (+0.78 percent)
US futures were marginally higher this morning.
European indices closed more than 1 percent higher. Shares of Bayer fell 7.2 percent after the company moved towards a $7.25 billion one-time settlement in Roundup litigation.
The euro weakened following reports that Christine Lagarde could step down early as European Central Bank president, ahead of her 2027 term end.
Japan’s Nikkei rose 0.80 percent.
South Korea’s Kospi surged 2.93 percent to a record high.
Australia gained 1.2 percent.
Chinese markets remain closed for holidays until February 23.
Gold jumped 3 percent to $5,011.90 per ounce before retreating sharply, reflecting heavy speculative trades in Chinese markets.
Gold closed at $4,978 per ounce; this morning around $4,972.
Silver closed at $77.32 per ounce.
Kerala gold (22-carat): ₹1,13,080 per sovereign (unchanged).
MCX gold (24-carat): ₹1,55,687 per 10 grams.
Platinum traded at $2,075, palladium at $1,692 and rhodium at $10,550.
Copper rose 0.34 percent to $12,602.90 per tonne.
Aluminium gained 0.64 percent to $3,058.72.
Nickel, zinc, tin and lead declined.
Cocoa fell 3.87 percent to $3,332 per tonne — the lowest since October 2023 — amid record stocks in Ghana and Ivory Coast.
The dollar index rose 0.56 percent to 97.70.
Euro: $1.1787
Pound: $1.3489
Yen: 154.77 per dollar
US 10-year yield: 4.087 percent
The rupee closed unchanged at 90.67 per dollar after volatile trade.
Brent crude closed at $70.30 per barrel and edged higher this morning. WTI stood at $65.15. Natural gas rose to $3.064.
Bitcoin slipped below $66,500. Ether traded under $1,960 and Solana below $82.
(February 18, Wednesday)
Sensex: 83,734.25 (+0.34%)
Nifty 50: 25,819.35 (+0.37%)
Bank Nifty: 61,550.80 (+0.62%)
Mid Cap 100: 60,183.20 (+0.50%)
Small Cap 100: 17,239.25 (+0.54%)
Dow Jones: 49,662.66 (+0.26%)
S&P 500: 6,881.31 (+0.56%)
Nasdaq: 22,753.64 (+0.78%)
Dollar: ₹90.67
Gold (ounce): $4,978
Gold (sovereign): ₹1,13,080
Brent crude: $70.30
