Dalal Street is set to open higher on Monday, tracking positive global cues after a key ruling by the US Supreme Court on trade tariffs. Early signals from the derivatives market suggest a firm start for Indian equities.
Gift Nifty futures were trading at 25,744.5 at 7:51 am. This points to the benchmark Nifty 50 opening above Friday’s close of 25,571.25. The Sensex had also ended last week with modest gains.
The positive opening comes after the US Supreme Court struck down sweeping tariffs imposed by US President Donald Trump. These tariffs had been introduced under a law meant for national emergencies and had raised concerns across global markets.
COURT RULING AND TARIFF MOVE
On Friday, the U.S. Supreme Court cancelled the tariffs that had been put in place under emergency powers. The ruling is seen as important for global trade and the wider economy.
However, on Saturday, Trump said he would raise the temporary tariff on U.S. imports from all countries to 15% from 10%. This is the highest level allowed under the same law. The mixed signals have created some uncertainty in global trade discussions.
Following the court ruling and the fresh tariff announcement, India has delayed sending a trade team to Washington this week, according to a Reuters report citing a trade ministry source.
The Indian delegation was earlier scheduled to leave on Sunday to finalise an interim trade deal. Under the proposed framework, U.S. tariffs on Indian goods were expected to be reduced to 18%. In return, India had agreed to purchase $500 billion worth of U.S. goods over five years.
GLOBAL MARKETS AND OIL
Other Asian markets were trading higher, rising about 1.1%. Oil prices eased ahead of another round of talks between the U.S. and Iran in Geneva scheduled for Thursday. Lower oil prices are usually seen as positive for India, which imports a large part of its crude oil needs.
Analysts believe that domestic equities may start the week on a firm note. Export-focused sectors could see buying interest due to hopes of better trade conditions. However, uncertainty around tariffs may limit sharp gains.
LAST WEEK’S MARKET TREND
The Nifty and Sensex posted modest gains last week. Banking stocks supported the indices on hopes of earnings recovery. At the same time, worries around artificial intelligence disruption and tensions between the U.S. and Iran capped the upside.
FII AND DII FLOWS
Foreign and domestic investor activity will remain an important factor for markets this week.
Data shows that foreign institutional investors have been net sellers so far this month. Month till date, FIIs have recorded net sales of Rs 2,011.24 crore. Their gross purchases stood at Rs 221,793.98 crore, while gross sales were higher at Rs 223,805.22 crore.
On the other hand, domestic institutional investors have supported the market. Month till date, DIIs have been net buyers to the tune of Rs 14,111.18 crore. Their gross purchases were Rs 253,323.47 crore, compared with gross sales of Rs 239,212.29 crore.
Looking at recent daily data, on 20 February 2026, FIIs sold shares worth Rs 934.61 crore on a net basis. On the same day, DIIs bought shares worth Rs 2,637.15 crore.
On 19 February, FIIs were net sellers of Rs 880.49 crore, while DIIs also turned net sellers with net sales of Rs 596.28 crore.
On 18 February, FIIs bought shares worth Rs 1,154.34 crore on a net basis. DIIs also bought shares worth Rs 440.34 crore that day.
On 17 February, FIIs were net buyers of Rs 995.21 crore, and DIIs bought shares worth Rs 187.04 crore.
On 16 February, FIIs sold shares worth Rs 972.13 crore, while DIIs bought Rs 1,666.98 crore.
On 13 February, FIIs recorded heavy net sales of Rs 7,395.41 crore. In contrast, DIIs provided strong support with net purchases of Rs 5,553.96 crore.
On 12 February, FIIs bought shares worth Rs 108.42 crore, and DIIs purchased Rs 276.85 crore on a net basis.
This pattern shows that while foreign investors have been cautious, domestic institutions have continued to provide steady support to the market.
WHAT TO WATCH TODAY
Markets are likely to react to global trade updates, oil price movement and further signals from foreign investors. Banking stocks may remain in focus after last week’s gains. Export-related sectors could also see action based on trade developments.
While the early trend suggests a higher opening, investors may remain careful due to uncertainty around tariffs and global talks. As always, investor flows and global news will guide the day’s movement on Dalal Street.
