Equities End Flat After Three-day Rally; SBI shines, IT Drags

An end-of-day recap of all that transpired in the Indian markets, highlighting the major price movements and the factors driving them

By Dehuti Jani

February 11, 2026 at 11:47 AM IST

Indian equities benchmark indices ended largely unchanged on Wednesday after a choppy session, pausing a three-day rally driven by optimism around the US–India trade deal. The Nifty50 edged up 0.07% to 25,953.85, while the Sensex slipped 0.05% to 84,233.64. Both indices had gained nearly 1.2% over the previous three sessions. Broader markets were muted, with the Nifty Midcap 100 and Smallcap indices settling marginally higher by 0.03% and 0.02%, respectively.

Among Sensex constituents, SBI rallied over 3%, overtaking TCS to become the fourth-largest company by market capitalisation, while Maruti Suzuki and Trent also advanced. On the downside, TCS fell more than 2%, with HCL Technologies, Eternal and ITC among other notable laggards. Sectorally, Nifty Healthcare led gains, rising 1.62%, followed by Nifty Auto up 1.3%, whereas Nifty IT emerged as the top loser, reflecting continued pressure in technology stocks.

Top Movers of the Day

Eternal shares rose around 5% to around ₹312, in intra-day trade, extending recent gains on sustained buying interest following strong Q3 momentum.

Tata Steel rose roughly 4% to ₹176, boosted by strong global metal prices and greater investor confidence. The company's shares climbed today reflecting steady metal prices worldwide and ongoing positive sentiment following the India–US trade agreement.

Mahindra & Mahindra rose nearly 3% to ₹2,185, driven by strong auto sales and sustained investor interest in cyclical stocks.

Tech Mahindra rose almost 3% to ₹1,640, rebounding after recent IT sector volatility.

BSE Ltd jumped more than 6% to around ₹3,245, reaching a new high on strong trading and derivatives activity.

Hindustan Aeronautics rose around 4% to ₹3,980, continuing momentum in defence stocks. Hindustan Aeronautics (HAL) rose around 4%, continuing momentum in defence stocks on order inflow optimism.

Titan Company advanced by approximately 2% to ₹3,640, driven by sustained consumer sentiment. Titan Company recorded gain reflecting robust expectations for consumer demand.

HCL Tech fell roughly 2% to ₹1,515, becoming a major drag on the IT sector due to ongoing worries about AI-driven disruption in IT services.

Bajaj Finance fell almost 2% to ₹7,280 due to profit booking following its recent outperformance.

Adani Ports declined approximately 1.5% to ₹1,420, paring earlier gains despite overall strength in the broader market.

Bharti Airtel declined approximately 1% to ₹1,185, as market participants shifted their focus toward cyclical stocks. The company experienced a similar ease in its share price, attributed to increased investor interest in midcap and cyclical sectors.

Futures & Options
Nifty February 2026 futures settled at 25,989.70, a premium of 35.85 points over the spot Nifty close of 25,953.85, indicating a mildly positive bias in near-term positioning. In the cash segment, the Nifty 50 inched up 18.70 points, or 0.07%, to 25,953.85. The India VIX slipped 1% to 11.56, suggesting easing volatility expectations after recent gains. SBI, BHEL and HDFC Bank were the most active stock futures in the NSE F&O segment. The February 2026 derivatives contracts are set to expire on 24 February 2026.

Bonds
Government bond yields were largely rangebound on Wednesday as traders refrained from building fresh positions ahead of the January inflation print, which could shape expectations around the Reserve Bank of India’s policy trajectory. The benchmark 10-year 6.48% 2035 bond yield ended at 6.7088%, marginally lower than Tuesday’s close of 6.7246%, after recovering from a sharp two-day selloff earlier in the week. Caution prevailed across the curve, with participants awaiting clearer signals on the rate outlook before committing to directional bets.

Forex
The rupee slipped in late trade on Wednesday as renewed dollar demand from foreign banks pressured the local unit after a largely subdued session. The rupee settled at 90.70 per dollar, down 0.1% from the previous close. Early trading was marked by balanced corporate flows that kept the currency range-bound, but increased dollar buying likely on behalf of custodial clients tilted momentum in favour of the greenback in the latter half of the day.

Crypto
Bitcoin slipped below the $67,000 mark in Asian trade on Wednesday as investors stayed cautious ahead of key US jobs data that could shape the Federal Reserve’s rate outlook. The world’s largest cryptocurrency was last trading 2.6% lower at $67,126.7, extending its recent pullback as risk appetite remained fragile. Ethereum declined 2.7% to $1,952.92, with broader weakness seen across major altcoins, reflecting continued deleveraging and muted buying interest.

US Stock Futures
US stock futures fell on Wednesday as investors adopted a cautious stance ahead of the closely watched January nonfarm payrolls report, which could influence expectations around the timing of Federal Reserve rate cuts. S&P 500 futures slipped marginally into negative territory, Nasdaq 100 futures declined 0.2% after earlier gains, while Dow Jones futures hovered near the flatline following three consecutive record closes for the blue-chip index.

US Treasury Notes
US Treasury yields drifted lower as softer retail sales data reinforced concerns over slowing consumer momentum and strengthened expectations of policy easing. The benchmark 10-year yield fell to around 4.13%, its lowest level since mid-January, while the policy-sensitive 2-year yield eased to about 3.45%. The move reflects growing market conviction that the Federal Reserve could deliver up to three rate cuts this year amid a cooling growth backdrop.

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