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Market Update - Monday, 16 Feb
It was a nice start to the week. The markets opened on a weak and nervous note, clearly reflecting some hesitation after the slippage we saw towards the end of last week. If you recall, the first half of last week looked reasonably constructive, but Thursday and Friday brought in some pressure and mild profit booking.
However, today the market steadily built confidence through the session. The intraday recovery showed resilience and a willingness from participants to step back in. Momentum, which had briefly cooled off, seems to be returning. Overall, the structure of the market looks far more composed now, and sentiment appears to be stabilizing again.
Nifty staged a strong comeback, closing up 0.83% and forming a bullish engulfing candle — a technically encouraging sign. However, it still remains below the 200-day moving average and hasn’t filled the earlier gap, so the bigger trend still needs respect.
In the broader market, Nifty Next 50 also showed bullish engulfing traits, with mid and long-term trends holding positive
Microcaps slipped 0.74% and Mid/Smallcaps stayed largely flat near support/trend lines — indicating participation is still selective.
Bank Nifty led the show, up 1.27%, engulfing nearly five sessions in one move and closing at an all-time high — an important leadership signal for overall market confidence.
Other Market Triggers
Breadth: Advance-decline was close to flat at 277:223, suggesting reasonably balanced participation despite selectiveness in leadership.
Heatmap / Key movers: The heatmap was broadly green. Metals showed strong traction. Names like ITC, HDFC Bank, SBI, Axis Bank, Kotak Bank moved higher. IT saw pressure but recovered intraday, especially Infosys and TCS. Autos were slightly subdued.
Nifty Next 50 pockets: Real estate looked strong. PSU-linked names like Power Finance and IRFC also moved well — buying looked broad-based rather than narrowly concentrated.
Sector view: CPSE +2.2%, Energy +1.9%, Real Estate +1.6%. Capital market stocks faced pressure due to regulatory changes around broker funding / margin facilities. PSU momentum stayed strong with names like Power Grid, Coal India, NHPC, Oil India, NBCC holding near highs.
Commodities: Gold -0.6%, Silver -0.27% — largely flat moves. China being shut for holidays may have affected global volumes.
U.S. Market Updates
US markets were positive in the prior session with gains in names like ServiceNow, Nike, UnitedHealth, PayPal, Walt Disney. Russell 2000 was up ~1.2%, while S&P and Dow were relatively flat.
There were still mixed signals within mega-caps — while big tech like Nvidia, Apple, Google, Meta saw softness, some “smaller large-caps” like Cisco and Micron gained, pointing to rotation rather than uniform strength.
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