It was another range-bound session for the Indian stock market, as the key averages remained largely unchanged in Thursday’s trade, February 26, with investors assessing the impact of rising crude oil prices amid mounting tensions in the Middle East, even as confidence in global tech stocks improved.
Though the key benchmark indices closed flat, they recovered the majority of the early losses, with the Nifty 50 eventually settling at the 25,496 level, 0.06% higher, while the S&P BSE Sensex also finished the session flat at the 82,248 level.
The broader markets closed mixed, with the Nifty Midcap 100 rallying 0.66%, while the Nifty Smallcap 100 index finished flat. Sectoral performance was mixed, with the Nifty Pharma, Nifty Chemicals, Nifty Oil and Gas, Nifty PSU Bank, and Nifty Auto indices rallying between 0.80% and 1.10%.
On the lower side, the Nifty Media index lost 0.67% of its value, and the Nifty FMCG index shed 0.23%. The recent laggard, Nifty IT, closed flat.
The US stock market rallied overnight as chip major Nvidia delivered strong fiscal fourth-quarter results, fueled by a 75% surge in revenue from its core data center segment.
The key Asian markets closed mixed, with South Korea’s Kospi rising 3.67% and Japan’s Nikkei 225 falling 1.56% amid profit-taking after the index crossed the 59,000 level, led by software-related shares, as investor fears over disruption from artificial intelligence eased and expectations of looser monetary policy strengthened.
Tejas Networks surges on NEC deal; banks, capital goods, and auto stocks shine
Tejas Networks led the gainers’ list, as the stock rallied 17% to ₹381.40 apiece, marking its biggest intraday jump since April last year, after the company said it had inked an agreement with NEC Corporation to manufacture and supply 5G massive MIMO radios.
The rally also turned the stock’s month-to-date returns positive, reaching 9%. Jammu & Kashmir Bank shares remained higher for the fifth straight session, closing 8% higher at ₹121 apiece. In reaction to its strong December quarter performance, KSB shares rallied 7.7% to ₹772 apiece.
Finolex Cables, too, finished the session higher by 6% at ₹873 apiece, while Transformers & Rectifiers regained strength, surging 5.3% to ₹311.90 apiece. After a three-day slide, Brainbees Solutions stock rebounded 4.7% to ₹220 apiece.
Meanwhile, mid- and small-cap IT stocks such as Oracle Financial Services, Newgen Software Technologies, and Birlasoft gained 3.7%, 3.6%, and 3.2%, respectively. In the auto and auto ancillary pack, Tube Investments of India, Eicher Motors, and Tata Motors DVR rallied 4%, 2.7%, and 2.5%, respectively.
Home First Finance slides sharply; Sagility hits 8-month low
On the losing side, Home First Finance shares crashed 6% to ₹1,177 apiece amid a large block deal, while Sagility shares saw renewed selling pressure, falling 5.54% to ₹40.38 apiece, the lowest level since June 2025.
Today’s fall has led to a 19% crash in the stock so far in February. Aegis Logistics was another weak performer in trade, with the stock falling 4% to ₹698.8 apiece. Reliance Infrastructure also saw renewed selling pressure, declining 4% to ₹94 apiece.
Other stocks such as BLS International Services, Afcons Infrastructure, Nippon Life India AMC, Affle 3i, Poly Medicure, Sapphire Foods India, and MRF closed lower between 3% and 3.8%.
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