Nifty outlook by Kotak Securities
by Shrikant Chouhan, Head, Equity Research Kotak Securities
🕗 Last Update: 20 February 2026, 8.00 PM
Analysis for 23 February 2026
Global equity markets this week were mixed factoring in the soft US inflation print, Federal Reserve minutes showing a divide on the future path of rates, deterioration in UK labor markets and continued narratives on AI. Indian markets remained volatile but ended the week with marginal gains. While the Nifty 50, Sensex 30 and BSE 150 Midcap indices posted small gains, the BSE 250 Smallcap indices underperformed the broader markets.
Indian markets accounted for the increase in crude oil prices amid rising geopolitical tensions between Iran and the US, lingering risks from AI disruption and increased trade deficit as witnessed in the latest trade data. BSE IT index continued to witness pressure and closed the week in the negative territory amid fears of revenue deflation from GenAI. BSE Bankex, BSE Capital Goods and BSE Power led the sectoral gains this week. Q3FY26 results were relatively strong, with adjusted EBITDA and adjusted net profit coming in ahead of our expectations. FII flows has been mixed so far in February 2026. Geopolitical developments, AI newsflow and domestic macro will continue to drive domestic and international equity markets in the near-term.
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