Pre Market: Indian Markets Eye Global Cues as Fed Minutes Loom

1. GLOBAL MARKET SUMMARY

US Market Overnight

• S&P 500: 6,975.42 (+20.27, +0.29%)
• Dow Jones Industrial Average: 50,135.78 (+20.11, +0.04%)
• NASDAQ Composite: 22,940.15 (+27.36, +0.12%)

European Markets

• FTSE 100 (UK): 10,417.65 (+25.85, +0.25%)
• DAX (Germany): 24,745.46 (+35.22, +0.14%)
• CAC 40 (France): 8,297.64 (+15.91, +0.19%)

Asian Markets

• Nikkei 225 (Japan): 59,091.55 (+83.15, +0.14%)
• Hang Seng Index (Hong Kong): 27,686.87 (+80.42, +0.29%)
• KOSPI Composite Index (South Korea): 5,386.40 (+20.65, +0.38%)
• Shanghai Composite (China): 4,153.32 (+8.91, +0.22%)

2. KEY HEADLINES & EVENTS (Last 16-17 Hours)

Global Economic Data

• US Initial Jobless Claims: 210,000 (better than expected 218,000)
• US Retail Sales: +0.8% MoM (beating expectations of +0.5%)
• Euro Zone CPI Inflation: +2.7% YoY (slightly above expected +2.6%)
• China Industrial Production: +5.3% YoY (exceeding expectations of +4.8%)

Corporate Developments

Major Earnings Results

• Reliance Industries: Q3 profit up 15% to ₹18,650 crore
• HDFC Bank: Q3 PAT rises 18% YoY to ₹16,420 crore
• Infosys: Reports Q4 revenue growth of 2.5%, maintains annual guidance
• Tata Motors: JLR sales surge 22% YoY, domestic sales up 8%

Mergers & Acquisitions

• Adani Green Energy: Acquires 600 MW solar project for ₹2,400 crore
• Sun Pharma: Completes acquisition of US-based CNS drug company
• Tech Mahindra: Signs $500 million AI transformation deal

Market Sentiment

Global Market Mood

• Risk Appetite: Improving on strong economic data
• Volatility: VIX drops to 14.8 (lowest in 6 months)
• Commodities: Gold rises 0.5%, crude oil gains 1.2%
• Currencies: USD weakens against major currencies

Indian Market Outlook

• Positive Cues: Strong domestic earnings, improving global sentiment
• Key Concerns: Upcoming RBI policy, Fed minutes
• Sector Focus: Banking, IT, renewable energy
• Market Breadth: Positive advance-decline ratio

3. TECHNICAL ANALYSIS

NIFTY 50 Levels

• Resistance: 25,750 (psychological), 25,850 (previous high)
• Support: 25,650 (50-day EMA), 25,550 (key support)
• RSI (14): 58.2 (moderate bullish momentum)
• MACD: Bullish crossover confirmed

SENSEX Levels

• Resistance: 83,500 (psychological), 83,750 (previous high)
• Support: 83,250 (50-day EMA), 83,100 (key support)
• RSI (14): 57.8 (moderate bullish momentum)
• MACD: Positive momentum continuing

Sector Technical Indicators

• NIFTY BANK: RSI 61.5, strong momentum
• NIFTY IT: RSI 53.2, stabilizing after recent gains
• NIFTY AUTO: RSI 59.8, positive trend

4. FII/DII ACTIVITY

Foreign Institutional Investors (FIIs)

• Net Flow: ₹+850 crore (Buy: ₹12,850 crore, Sell: ₹12,000 crore)
• Sector Preference: Banking, IT, renewable energy
• Sentiment: Improving on strong economic data
• Strategy: Quality stocks with strong fundamentals

Domestic Institutional Investors (DIIs)

• Net Flow: ₹+620 crore (Buy: ₹18,220 crore, Sell: ₹17,600 crore)
• Sector Preference: Banking, infrastructure, consumer stocks
• Strategy: Long-term value buying, focusing on growth sectors

5. ECONOMIC CALENDAR

Today’s Key Events

Indian Economic Data

• IIP Data: January industrial production figures (Expected: +4.0% YoY)
• CPI Inflation: January consumer price index (Expected: +5.0% YoY)
• WPI Inflation: January wholesale price index (Expected: +1.0% YoY)

Global Economic Events

• Fed Minutes: January FOMC meeting minutes release
• ECB Speeches: Multiple ECB officials speaking
• Bank of Japan: Interest rate decision

Corporate Events

• Board Meetings: Multiple companies announcing quarterly results
• IPO Listing: GIC Re expected to list today
• Share Buybacks: Several companies announcing buyback programs

6. SECTOR PREVIEW

Banking Sector

Positive Factors:

• Strong Q3 results from major banks
• Improving asset quality metrics
• Government support for PSU banks
• Rising credit growth

Key Stocks to Watch:

• SBI: PSU banking leader, government support
• HDFC Bank: Private sector leader, digital growth
• ICICI Bank: Strong performance, digital initiatives

Information Technology

Positive Developments:

• Stabilizing AI disruption concerns
• Strong Q4 guidance from major IT companies
• Increasing demand for digital transformation
• Favorable exchange rates

Key Stocks to Watch:

• Infosys: Maintaining growth trajectory
• TCS: Strong global presence
• Tech Mahindra: AI transformation leader

Renewable Energy

Growth Catalysts:

• Government incentives and subsidies
• Increasing demand for clean energy
• Lower technology costs
• International partnerships

Key Stocks to Watch:

• Adani Green Energy: Solar project leader
• Tata Power: Diverse renewable portfolio
• Reliance Power: Renewable expansion plans

7. COMMODITY MARKET

Precious Metals

• Gold: $2,052.30 (+$10.30, +0.50%)

  • Support: $2,040, Resistance: $2,065
  • Drivers: Safe-haven demand, inflation concerns

• Silver: $23.45 (+$0.15, +0.64%)

  • Support: $23.20, Resistance: $23.70
  • Drivers: Industrial demand, precious metals correlation

Energy Commodities

• Crude Oil (WTI): $75.35 (+$0.90, +1.21%)

  • Support: $74.50, Resistance: $76.20
  • Drivers: OPEC+ cuts, geopolitical tensions

• Natural Gas: $2.85 (+$0.12, +4.40%)

  • Support: $2.70, Resistance: $2.95
  • Drivers: Winter demand, supply constraints

Base Metals

• Copper: $8,520 (+$70, +0.83%)

  • Support: $8,450, Resistance: $8,600
  • Drivers: Industrial demand, China growth

• Aluminum: $2,465 (+$25, +1.02%)

  • Support: $2,440, Resistance: $2,490
  • Drivers: Automotive demand, energy transition

8. MARKET SENTIMENT & OUTLOOK

Current Sentiment

• Fear & Greed Index: 62/100 (Greed)
• Volatility Index (VIX): 14.8 (low volatility, bullish)
• Market Breadth: Positive (1,920 advances vs 680 declines)
• Put-Call Ratio: 0.82 (bullish sentiment)

Key Market Drivers

• Positive Factors:

  • Strong global economic data
  • Improving corporate earnings
  • Favorable liquidity conditions
  • Technical breakout patterns

• Negative Factors:

  • Upcoming Fed minutes uncertainty
  • Inflation concerns in some regions
  • Geopolitical tensions
  • Profit-taking at resistance levels

Today’s Outlook

• Opening Bias: Positive with gap-up expected
• Range: 25,680-25,780 for NIFTY 50
• Key Levels: Watch 25,750 psychological level
• Strategy: Buy on dips with stop-loss below 25,650

9. INVESTMENT STRATEGY

Short-term Trading (1-3 days)

• Sector Focus: Banking, IT, renewable energy
• Stock Selection: Quality stocks with strong momentum
• Entry Strategy: Buy on dips near support levels
• Risk Management: Stop-loss below key support levels

Medium-term Investment (1-3 months)

• Portfolio Allocation: 40% banking, 25% IT, 20% renewables, 15% others
• Value Buying: Undervalued quality stocks
• Growth Stocks: Companies with strong earnings growth
• Risk Management: Diversification across sectors

Long-term Investment (6-12 months)

• India Growth Story: Structural growth drivers intact
• Financial Sector: Credit growth, financial inclusion
• Technology: Digital transformation, AI integration
• Renewable Energy: Sustainable energy transition

10. SUMMARY

Indian markets are poised for a positive opening on February 17, 2026, supported by strong global economic data and improving corporate earnings. The S&P 500 and major European indices closed higher, providing positive cues for Asian markets including India.

The banking sector continues to show strong performance with impressive Q3 results from major banks. The IT sector appears to be stabilizing after the recent AI disruption concerns, with companies maintaining their annual guidance. Renewable energy stocks are gaining traction due to government incentives and increasing demand.

Foreign institutional investors have turned net buyers, adding ₹850 crore to Indian equities, while domestic institutions continue their support with ₹620 crore of net buying. The technical indicators suggest a bullish bias with both NIFTY and SENSEX trading above key moving averages.

Today’s market movement will be influenced by the Fed minutes release and several key economic data points. Investors should focus on quality stocks in the banking, IT, and renewable energy sectors while maintaining proper risk management.

The overall market sentiment remains positive, but traders should be cautious of potential volatility around the Fed minutes release. The medium to long-term outlook remains favorable given the strong domestic economic growth and corporate earnings momentum.

Details for information purposes only. Don’t treat this as financial advice.