Indian Stock Markets Set for Gap-Up Opening on February 23 Amid Positive Global Cues and Strong Institutional Activity
Mumbai: India’s benchmark stock indices, the NIFTY 50 and BSE Sensex, are expected to open higher on Monday, February 23, supported by positive global market cues, strong domestic buying and gains in GIFT NIFTY futures.
GIFT NIFTY Signals Positive Start
GIFT NIFTY futures rose 180 points to 25,746, indicating a likely gap-up opening for Indian equities. The upbeat sentiment follows Friday’s recovery, when benchmark indices rebounded after a subdued start, driven by gains in heavyweight stocks such as Reliance Industries, Larsen & Toubro, NTPC, State Bank of India, Kotak Mahindra Bank, Hindustan Unilever and Axis Bank.
The Sensex closed 317 points higher at 82,815, while the NIFTY 50 gained 117 points to settle at 25,571, reflecting renewed investor confidence.
Global Markets Provide Mixed Signals
Asian markets traded mostly higher as investors monitored developments around US tariff policies and awaited key corporate earnings. Hong Kong’s Hang Seng index rose 2.5%, while South Korea’s Kospi gained 0.75%. Australia’s S&P/ASX 200 declined 0.5%, and markets in Japan and China remained closed due to holidays.
On Wall Street, US markets ended Friday in positive territory, with the Dow Jones Industrial Average rising 0.47%, the Nasdaq gaining 0.9% and the S&P 500 advancing 0.7%. However, US futures declined on Monday amid continued uncertainty over global tariff decisions.
Institutional Investors Remain Active
Foreign institutional investors (FIIs) sold shares worth ₹935 crore on Friday, while domestic institutional investors (DIIs) purchased equities worth ₹2,637 crore, according to exchange data. Despite recent outflows, FIIs have invested ₹16,912 crore in Indian equities so far this month, reflecting continued long-term interest.
Key Stocks to Watch
Several stocks are expected to remain in focus:
- IDFC First Bank: Reported a ₹590 crore fraud at its Chandigarh branch involving Haryana government accounts, prompting suspensions and investigations.
- AU Small Finance Bank: Along with IDFC First Bank, was de-empanelled by the Haryana government for official banking transactions.
- State Bank of India: Announced plans to increase green financing to up to 10% of total advances by 2030.
- YES Bank: Said it expects return on assets to reach 1% by the end of the current financial year.
- Adani Ports and Special Economic Zone: Signed an agreement with NMDC and Vale to develop an iron ore blending facility and SEZ at Gangavaram Port.
- Axis Bank: Clarified it has not submitted any bid for a stake in CreditAccess Grameen.
Export-oriented sectors such as textiles, auto components and seafood may also remain volatile amid changes in US tariff policies.
Technical Outlook Remains Positive
Market experts say the NIFTY 50 must hold above the 25,700 level to sustain upward momentum toward the 26,000 mark this week. Options data indicates strong support around 25,800 and resistance near 26,000, suggesting cautious optimism among traders.
With strong domestic institutional buying, favourable global cues and sector-specific developments, Indian markets are expected to begin the week on a positive note, though global uncertainties may influence investor sentiment.