MUMBAI, Feb 26, 2026, 23:21 IST — Market closed.
Choppy trading left Indian equities barely moved on Thursday. HDFC Bank weighed on the indexes, offsetting strength in state-run banks and drugmakers. The Nifty 50 ticked up just 0.06% to 25,496.55. Sensex dipped 0.03%, settling at 82,248.61.
Benchmarks ended flat, boxed into a tight range as traders opted to book profits rather than push further. “Market has entered into consolidation mode,” said Vinod Nair, head of research at Geojit Investments, citing mixed signals abroad and several upcoming key events. Business Standard
Much of that wariness centers on India’s IT sector. Investors are still trying to figure out just how quickly artificial intelligence could pressure both earnings and margins. The IT index has dropped roughly 19.7% so far this February, and “investors will stay cautious” even as valuations look more appealing, said Amnish Aggarwal, director of institutional research at PL Capital. Reuters
On Friday, the statistics ministry will update the GDP base year to 2022-23 and roll out October-December (Q3) growth figures, along with its second advance estimates for FY26. Reports indicate the revamped series will tap more Goods and Services Tax (GST) data and draw from a broader mix of surveys to sharpen its estimates.
Thursday saw 14 out of 16 sectors finishing in the green. Public sector banks gained 1%, pharma climbed 1.1%, with traders shifting into areas that had some momentum. Shares of State Bank of India added 0.8% after CLSA stuck with its “outperform” call, highlighting the lender’s liquidity coverage ratio, along with its growth and profits. ETBFSI.com
Sanofi India dropped roughly 3.5% after quarterly profits for the December 2025 period came in weaker, and full-year profit also missed the mark. Still, the company announced a total dividend of 123 rupees per share for the year.
Bumpy trading across the board. Mid-caps managed to pull ahead, but small-caps couldn’t gain their footing—risk appetite clearly isn’t spreading evenly.
The calm could snap—and not in investors’ favor. If the GDP number, or tweaks from the base-year update, catch markets off guard, rate bets might get shaken up fast. Fresh selling pressure in IT, a heavyweight sector, would only drag the benchmarks further.
Gift Nifty futures slipped 0.51% late Thursday after the cash close, the offshore contract often cited as a read on the next session.
Friday brings the GDP print using the fresh 2022-23 series—traders are watching closely. Next week, markets will be shut for Holi on March 3, cutting trading short.
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