Core Insights - The benchmark equity indices in India experienced a decline, primarily driven by a significant sell-off in technology stocks due to global uncertainties and concerns regarding AI-led disruptions in IT services [9][8] - The BSE Sensex fell by 558.72 points, or 0.66%, closing at 83,674.92, while the NSE Nifty dropped by 146.65 points, or 0.57%, ending at 25,807.20 [9] - Major technology companies such as Tech Mahindra, Infosys, and Tata Consultancy Services (TCS) saw declines of nearly 6% each, marking them as significant laggards on the Sensex [9][7] Company Performance - Tech Mahindra experienced a decline of 5.99%, Infosys fell by 5.84%, and TCS decreased by 5.49% [9][7] - Other companies that ended in the red include HCL Technologies (-4.87%), Wipro (-4.67%), Mahindra & Mahindra (-2.23%), and Hindustan Unilever (-2.17%) [9][7] - In contrast, Bajaj Finance was among the top gainers, increasing by 3.12%, followed by Shriram Finance (2.47%) and Eicher Motors (2.22%) [9][7] Sectoral Analysis - The Focussed IT sector saw the most significant decline, dropping by 5.40%, followed closely by the broader IT sector, which fell by 5.29% [9][8] - Broader market indices also reflected negative sentiment, with the BSE MidCap Select Index decreasing by 0.48% and the SmallCap Select Index slipping by 0.28% [9][8] Market Sentiment - Investor sentiment was dampened by concerns over AI's impact on service-intensive sectors, leading to a structural transformation in IT services that may challenge traditional outsourcing models [8][9] - Geopolitical tensions, particularly between the US and Iran, are contributing to a cautious approach among investors in the near term [8][9]

Core Viewpoint - The Nifty Bank index shows a slight upward movement, indicating a mixed market sentiment with public sector banks outperforming private banks [1][2]. Nifty Bank Index Performance - The Nifty Bank index opened at 60,786, slightly up from the previous close of 60,745, currently hovering around 60,800, reflecting a 0.1% increase [1]. - The advance-decline ratio is 3-11, indicating a bearish bias in the market [1]. Sector Performance - The Nifty PSU Bank index is up approximately 0.2%, while the Nifty Private Bank index is trading flat, suggesting that public sector banks are performing better than their private counterparts [2]. Nifty Bank Futures - The February expiry Nifty Bank futures opened higher at 60,850 compared to the previous close of 60,809, currently trading at 60,840 [3]. - The futures contract reached a seven-day high of 60,901 early in the session but has since moderated, remaining above key support levels of 60,760 and 60,550 [3]. Future Outlook - A rally from the current level of 60,840 or after a dip to 60,550 could push Nifty Bank futures towards 61,500 and 62,000 in the near term [4]. - A breach of the resistance at 60,900 could trigger further upward movement, while a drop below 60,550 may lead to a decline towards the support band of 60,100-60,000 [4]. Trade Strategy - The recommendation is to maintain a long position on Nifty Bank futures initiated at an average level of 60,715, with plans to add longs if the contract slips to 60,580 [5]. - Stop-loss levels are set at 60,380, with adjustments to be made as the contract rises, and profits should be booked at 61,460 [5]. Support and Resistance Levels - Key support levels are identified at 60,550 and 60,400, while resistance levels are at 60,900 and 61,500 [6].

Market Overview - Indian equity markets opened on a weak note, with benchmark indices trading lower due to heavy selling pressure in IT stocks. The Sensex opened at 83,968.43, down 293.40 points or 0.35%, while the Nifty 50 opened at 25,906.70, down 86.80 points or 0.33% [1] IT Sector Performance - Technology stocks led the decline, with significant drops: Infosys down 4.72% to ₹1,402.40, Tech Mahindra down 4.24% to ₹1,565.10, Wipro down 4.23% to ₹220.10, TCS down 3.96% to ₹2,794.60, and HCL Technologies down 3.62% to ₹1,495.50. This decline was attributed to concerns over AI-driven disruption in the technology sector [2] Financial Sector Support - Financial stocks provided some support, with Shriram Finance rising 1.33% to ₹1,070.90, ICICI Bank gaining 1.27% to ₹1,424.00, State Bank of India up 1.19% to ₹1,197.00, Bharat Electronics Limited climbing 1.09% to ₹442.30, and Eicher Motors gaining 0.98% to ₹7,847.00 [3] Market Sentiment and Institutional Activity - Despite the weakness in IT stocks, the underlying liquidity remains supportive, with foreign institutional investors continuing as net buyers. They purchased equities worth ₹943 crore on February 11, marking their fourth consecutive session of net buying. In contrast, domestic institutional investors sold equities worth more than ₹125 crore [4][5] Technical Analysis - Analysts expressed caution regarding near-term market direction, identifying crucial support zones at 25,900/84,200 and immediate resistance areas at 26,000/84,500. The Nifty continues to hold its uptrend above key moving averages, with immediate resistance seen near 26,000, potentially extending towards a fresh all-time high of 26,373 [6]

Market Overview - The BSE Sensex traded over 400 points lower, reaching a low of 83,817, while the Nifty 50 fell over 100 points, slipping below the 25,850 mark [1][11] - A sharp selloff in IT stocks weighed on market sentiment, with Infosys, Eternal, and Titan Company being the top drags, falling between 2-4% [11] - Marginal gains were observed in ICICI Bank, Power Grid, and Tata Steel, rising up to 1% [11] Economic Indicators - The latest U.S. jobs data showed the addition of 130,000 jobs and a decline in unemployment to 4.3%, suggesting the Federal Reserve may refrain from rate cuts in the near term [11] - In India, the rate-cutting cycle appears largely over, with steady growth and inflation expected to gradually return to the RBI's long-term target by the end of FY27 [11] Sector Performance - Market support is likely to come from earnings growth, particularly in sectors such as automobiles, jewellery, hotels, select capital goods, telecom, and financials, which are showing strong performance [12] - Tech stocks are under pressure, particularly following the Anthropic-led disruption, and may take longer to recover [12] - A rotation of funds from IT to better-performing segments could support stocks in sectors driven by stronger earnings [12] Foreign Investment - Foreign portfolio investors (FPIs) net bought shares worth ₹944 crore on February 11, while domestic institutional investors (DIIs) were net sellers of ₹125.36 crore [5][12] Global Market Trends - U.S. markets ended marginally lower after a choppy session, with the Dow Jones Industrial Average slipping more than 66 points (0.1%) and the Nasdaq Composite falling about 0.2% [6][12] - In Asia, Japan's Nikkei 225 briefly crossed the 58,000 mark for the first time, while South Korea's Kospi surged as much as 2.1% to a record high of 5,466.9 [7][12] - Other Asian markets showed resilience despite weaker cues from Wall Street, with Singapore's benchmark index crossing the 5,000 level for the first time [7][12] Commodity Prices - Oil prices edged higher due to escalating tensions between the U.S. and Iran, with Brent crude futures rising 34 cents (0.49%) to $69.74 per barrel and U.S. West Texas Intermediate (WTI) crude gaining 37 cents (0.57%) to $65.00 per barrel [9][12] Currency Exchange - The Indian rupee opened 0.27% higher at 90.4550 per U.S. dollar, compared to its previous close of 90.70 [10][12]

Core Viewpoint - IDFC FIRST Bank has received approval from the Reserve Bank of India for ICICI Prudential Asset Management Company and its group entities to acquire up to 9.95% of the bank's paid-up share capital [1] Group 1 - The approval is a significant development for IDFC FIRST Bank [1] - The acquisition is subject to specific conditions and compliance with relevant regulations [1]

Core Insights - The SPDR Portfolio Emerging Markets ETF (SPEM) has achieved a 32% gain over the past year, significantly outperforming the S&P 500's 16% return, driven by growth in emerging market economies, particularly in Asia and Latin America [2][7] Performance Overview - SPEM provides diversified access to emerging markets with an expense ratio of just 0.07%, tracking over 800 holdings across countries like China, India, and Brazil [3] - Notable individual stock performances include Nu Holdings, which rose 28% with 41% earnings growth, while PDD Holdings fell 8% due to a focus on market share over profitability [7] Currency Impact - Currency movements, particularly the strength of the U.S. dollar, significantly influence emerging market returns; a weaker dollar enhances the value of local currency-denominated assets [4] - Monitoring the DXY Dollar Index is crucial, as a sustained move below 100 could support emerging market strength, while a rise above 108 may create challenges [5] Volatility Factors - Individual stock performance within SPEM can vary widely; for instance, PDD Holdings' decline illustrates the trade-offs between growth and profitability that many emerging market companies face [6]

Bank strike: Bank of Baroda (BoB) has informed the stock exchanges that multiple bank unions have called for a strike on 12 February on various issues and demands and notified of potential disruption in services due to it.According to the filing, the All India Bank Employees' Association (AIBEA), All India Bank Officers' Association (AIBOA), and Bank Employees Federation of India (BEFI) have jointly called for a countrywide strike on Thursday, 12 February 2026.Will banks across India be closed on 12 Februar ...

Group 1 - NaBFID plans to raise ₹4,000 crore through a 10-year bond sale, with investor focus on this issuance amid high benchmark government security yields at 6.75% [5] - The expected pricing for NaBFID's bonds is around 100 basis points over the sovereign yield, indicating a competitive rate below the state bond rate [5] - HUDCO is anticipated to secure a rate of approximately 7.75%-8% for a three-year bond tenure [5] Group 2 - Corporates raised ₹26,752 crore in January 2023, a decrease from ₹29,798 crore in December 2022, reflecting a tightening in market borrowings [3] - Wholesale loans by banks have increased, with SBI reporting a 3.4% year-on-year growth in its corporate loan book, while HDFC Bank and ICICI Bank reported growths of 10.3% and 5.6% respectively [5]

Core Insights - Hiring activity in Indian banks has slowed down due to increased adoption of technology, automation, and AI-led efficiencies, reducing the need for incremental headcount additions [7] - HDFC Bank added approximately 5,000 employees in the quarter, bringing its total headcount to around 215,000, while Axis Bank and Kotak Mahindra Bank experienced declines in their employee counts [7] - The overall trend indicates a cautious approach to hiring and a shift towards productivity-led growth across the banking sector [7] Group 1: Employment Trends - HDFC Bank's recruitment fell sharply in 2024-25 to 49,713 from 89,115 in 2023-24, with net additions dropping to 994 employees compared to 40,305 in the previous year [7] - Axis Bank's headcount decreased to about 101,000 at the end of December from around 102,000 a year earlier, while Kotak Mahindra Bank's headcount declined to about 112,000 from 114,000 [7] - ICICI Bank's headcount also saw a reduction, declining to 130,957 in 2024-25 from 141,009 a year earlier, with a net reduction of 6,723 employees [7] Group 2: Factors Influencing Hiring - The slowdown in hiring is attributed to digitisation and productivity gains, leading to more efficient headcount utilisation [5][6] - Banks are increasingly relying on digital onboarding, automated credit underwriting, AI-driven customer service, and centralised operations, which reduces the need for large frontline and back-office teams [5] - Hiring is becoming more selective, focusing on technology, risk, analytics, and compliance rather than bulk onboarding [6]

"SBI reported strong loan book growth of 15.6%, outpacing AgenciesShares rise over 7% after a robust Q3 Brokerages turned more upbeat on the stock following the results. Nuvama, which called SBI a top buy following its standout December-quarter performance among large lenders, raised its target price to ₹1,250 from ₹1,150. SBI shares have climbed 39.4% over the past six months, compared with a 5.2% rise in the Nifty. Analysts said the stock has been on a steady upswing since September 2025, supported by c ...