Bajaj Broking Closing Market Commentary for 12th February 2026

Indian equity benchmarks ended in the red on February 12, with the Nifty closing near the 25,800 level. The decline was led by sharp losses in IT stocks as expectations of a near-term US Fed rate cut waned. Additional pressure came from concerns over potential disruptions from artificial intelligence. Investors largely stayed on the sidelines as they awaited the January 2026 monthly inflation data. At the close, the Sensex dropped 558.72 points, or 0.66%, to 83,674.92, while the Nifty fell 146.65 points, or 0.57%, to 25,807.20. Broader markets also weakened, with the Nifty Midcap and Smallcap indices slipping 0.5% and 0.64%, respectively. On the sectoral front, except for Consumer Durables and Nifty Financial Services, which edged up 0.38%, all other indices finished lower. The IT index tumbled 5%, while oil & gas, media, and realty stocks each declined around 1%.

Nifty Outlook

The index formed a bearish candle with a lower high and a lower low signaling profit booking at higher levels around the 26,000 levels. Stock-specific movements are likely to remain in focus as the quarterly earnings season comes to an end. Going forward, index likely to consolidate in the range of 25,500-26,000. Only a move above 26,000 levels will open upside toward the key resistance area of 26,200-26,300 in the coming sessions. The overall outlook remains positive and the current breather should be seen as buying opportunities. Immediate support is placed at 25,500-25,400, which aligns with last week's breakout area and the 20-day EMA.

Bank Nifty Outlook

Bank Nifty formed a high wave candle with small real body signaling consolidation amid stock specific action. PSU banking stocks continues to outperform the private banking stocks. Going ahead, a move above Monday's high of 60876 will lead to further upside toward the 61,200 and 61,800 levels in the coming sessions. Failure to move above Tuesday high will signal some consolidation in the range of 59,800-60,800 levels. Bias remains positive and we believe dips should be used as buying opportunity, with short term support seen at 59500-59200 levels being the confluence of the 20- and 50-days EMA. Volatility is likely to remain elevated amid uncertain global cues.

Source : Equity Bulls

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