Nifty traded ended below the 25,450 mark. IT, realty and media shares declined, while metal, oil & gas and pharma stocks advanced.

As per provisional closing data, the barometer index, the S&P BSE Sensex tumbled 1,068.74 points or 1.28% to 82,225.92. The Nifty 50 index fell 288.35 points or 1.12% to 25,424.65. In the past two consecutive trading session, the Sensex and Nifty jumped 0.95% and 1.01%, respectively.

In the broader market, the S&P BSE Mid-Cap index slipped 0.40% and the S&P BSE Small-Cap index fell 0.76%.

The market breadth was weak. On the BSE, 1,455 shares rose and 2,766 shares fell. A total of 163 shares were unchanged.

IPO Update:

PNGS Reva Diamond Jewellery received bids for 30,18,496 shares as against 57,06,235 shares on offer. The issue was subscribed 0.53 times.

The issue opened for bidding on 24 February 2026 and it will close on 26 February 2026. The price band of the IPO is fixed between Rs 367 and 386 per share.

Shree Ram Twistex received bids for 55,94,976 shares as against 1,06,00,000 shares on offer. The issue was subscribed 0.53 times.

The issue opened for bidding on 23 February 2026 and it will close on 25 February 2026. The price band of the IPO is fixed between Rs 95 and 104 per share.

Clean Max Enviro Energy Solutions received bids for 92,64,052 shares as against 2,18,23,329 shares on offer. The issue was subscribed 0.42 times.

The issue opened for bidding on 23 February 2026 and it will close on 25 February 2026. The price band of the IPO is fixed between Rs 1,000 and 1,053 per share.

Buzzing Index:

The Nifty IT index slumped 4.48% to 30,137.80. The index tumbled 8.88% in five consecutive trading sessions.

LTIMindtree (down 6.88%), Tech Mahindra (down 6.48%), Persistent Systems (down 6.28%), HCL Technologies (down 6.07%), Coforge (down 5.95%), Mphasis (down 3.96%), Tata Consultancy Services (down 3.79%), Infosys (down 3.79%), Oracle Financial Services Software (down 3.22%) and Wipro (down 2.84%) declined.

Stocks in Spotlight:

Bharti Airtel slipped 2.91%. The telecom major said that it will capitalise its NBFC arm, Airtel Money, with Rs 20,000 crore over the next few years.

HUDCO (down 2.11%), Piramal Pharma (down 1.42%), Tata Technologies (down 4.78%) and Torrent Power (down 0.49) to be excluded from F&O

The National Stock Exchange (NSE) has decided to exclude Housing & Urban Development Corporation (HUDCO), Piramal Pharma, Tata Technologies, and Torrent Power from the Futures & Options (F&O) segment with effect from 29 April 2026.

IDFC First Bank added 1.31%. The company said the recent volatility in its share price followed the detection of a Rs 590-crore fraud at its Chandigarh branch. The bank added that reports regarding government de-empanelment are part of the ordinary course of business.

Silver Touch Technologies declined 1.44%. The company announced that it has been selected by the FSSAI for a strategic digital transformation engagement.

Shilpa Medicare fell 2.29%. The company said that its subsidiary Shilpa Biologicals and SteinCares have entered into a strategic licensing agreement to commercialize a biosimilar across Latin America. Under the agreement, SteinCares will hold exclusive rights to register, commercialize, and distribute the biosimilar across the region while Shilpa Biologicals will complete product development and provide long-term commercial manufacturing from its facility in Dharwad, India.

Brahmaputra Infrastructure hit an upper circuit of 5% after it has emerged as the L-1 bidder for a National Highway project awarded by the Ministry of Road Transport & Highways (MoRTH), Government of India.

Larsen & Toubro (L&T) fell 3.51%. The company said its Heavy Civil Infrastructure (HCI) and Heavy Engineering (HE) verticals have jointly secured a significant order from the Department of Atomic Energy for the LIGO India Observatory in Maharashtra.

Samvardhana Motherson International rose 1.11%. The company announced that it has launched a manufacturing facility in Sanand, Gujarat, dedicated to producing cutting-edge exterior lighting systems. The facility has been set up under a strategic joint venture with Marelli, namely Marelli Motherson Automotive Lighting India (MMLI). The joint venture strengthens the groups capabilities in automotive component manufacturing. MMLI is a 50:50 partnership between Samvardhana Motherson International and Marelli Europe S.p.A.

Signpost India rose 0.23%. The company has secured exclusive outdoor advertising rights from the Kolkata Municipal Corporation under the Kolkata Streetscape Renaissance project in a Rs 450-crore, 10-year public-private partnership contract.

Waaree Energies rallied 3.68% after the company announced that it has received an order to supply 500 MW of solar modules from a renowned domestic solar power developer and independent power producer (IPP).

Indoco Remedies advanced 2.58% after it has received final approval from the US Food and Drug Administration (USFDA) for its abbreviated new drug application (ANDA) for Brivaracetam Oral Solution, 10 mg/mL.

Caplin Point Laboratories slipped 1.08%. The company announced that its subsidiary, Caplin Steriles, has received final approval from the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Sodium Phosphates Injection USP.

KEC International added 1.38% after the company announced that it has secured new orders worth Rs 1,002 crore across its Transmission & Distribution (T&D) and Cables & Conductors businesses.

Global Markets:

European market declined on Tuesday as investors assess the new global trading landscape after U.S. President Donald Trumps latest tariff move.

Asian markets ended mixed as investors weighed renewed tariff threats from U.S. President Donald Trump and concerns that artificial intelligence could disrupt software companies.

Trump posted on Truth Social Monday that any country that wants to play games with the Supreme Court decision will be met with a much higher tariff.

The comments followed a Supreme Court decision Friday striking down tariffs enacted under the International Emergency Economic Powers Act. In response, Trump said he would impose a 15% global tariff under Section 122 of the 1974 Trade Act.

Investors in Asia were also assessing Chinas loan prime rate (LPR) decision. Chinas central bank on Tuesday kept its benchmark lending rates unchanged at 3% for the one-year LPR and 3.5% for the five-year LPR.

Overnight on Wall Street, U.S. equities tumbled on Monday as investors grappled with persistent fears around artificial intelligence disruptions to various industries and President Donald Trumps decision to raise his global tariffs.

The Dow Jones Industrial Average dropped 821.91 points, or 1.66%, to close at 48,804.06, while the Nasdaq Composite declined 1.13% and ended at 22,627.27. The S&P 500 shed 1.04% and closed at 6,837.75, putting it into the red once again for 2026.

The 30-stock Dow was dragged down by IBM shares, which declined 13% on the heels of Anthropic outlining new programming capabilities for its Claude Code product.

Software stocks such as Microsoft and CrowdStrike were under pressure yet again as AI disruption worries hovered over the market. However, software hasnt been the only sector to be hit due to AI fears recently: Stocks linked to trucking and logistics, commercial real estate and financial services have similarly suffered losses this month.

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