On February 18, 2026, the Indian stock market navigated a volatile session characterized by a sharp divide between traditional heavyweights and a struggling technology sector. While metal and banking stocks provided a much-needed lift, the Nifty IT index continued to face significant pressure, dragging down benchmark indices early in the day.
Market Performance Summary
The S&P BSE Sensex and Nifty 50 both experienced marginal declines as the market entered a consolidation phase.
| Index | Closing / Current Level | Change (%) |
|---|---|---|
| S&P BSE Sensex | 83,449.41 | -0.02% |
| Nifty 50 | 25,724.40 | -0.05% |
| India VIX | 12.29 | -3.01% |
Despite the slight dip in frontline indices, the India VIX tumbled over 3%, suggesting that near-term volatility expectations were cooling down.
Sectoral Highlights: Metals and Insurance Surge
Metal Powerhouse: Tata Steel was one of the day's star performers, hitting an intraday high of ₹209.5 with a gain of over 3%. The metal sector benefited from supportive global steel price outlooks and potential shifts in international trade tariffs.
Insurance Resilience: HDFC Life Insurance surged by 3.02% to reach an intraday peak of ₹728.6. Analysts noted its relative strength as it significantly outperformed the broader Sensex.
Banking Support: Selective buying in PSU banks like Punjab National Bank (PNB), which rose 2.68%, helped cushion the market's decline.
The Tech Slump: 'Anthropic Shock' Persists
The Nifty IT index fell by 2.28%, retreating from previous gains as concerns over Artificial Intelligence (AI) disruption continued to weigh on global sentiment.
Major Laggards: Heavyweights like Wipro (down 2.22%), Tech Mahindra (down 2.18%), and Infosys (down 1.55%) led the losers' list.
AI Disruption: Market strategists warned that Indian IT may continue to struggle as tools like Anthropic's corporate legal automators threaten traditional service models.
Corporate Focus: Zomato's 'Eternal' Transformation
A major highlight of the month was the formalization of Zomato's rebranding to Eternal Ltd.
Leadership Shift: Founder Deepinder Goyal stepped down as CEO of the listed entity to pursue higher-risk ventures, handing the reins to Albinder Dhindsa (formerly CEO of Blinkit).
AI Collaboration: In a strategic move to future-proof its ecosystem, Eternal announced a deepened partnership with OpenAI to integrate advanced AI across its platforms, including Zomato, Blinkit, and Hyperpure.
Market Note: While the market breadth remained positive with more advancing shares than declining ones, large institutional investors are reportedly waiting for more compelling valuations before reinvesting heavily in the IT sector.
