The domestic markets are likely to open on a flat to weak note on Thursday amid geopolitical tension and mixed global cues. Gift Nifty at 25,840 signals a flattish opening. Reports that US-Iran tensions are reaching a flashpoint, are keeping global investors under pressure. Analysts expect the market to remain in consolidation phase.
Ponmudi R, CEO of Enrich Money, said the near-term sentiment is expected to stay measured, with selective profit-booking emerging in high-valuation pockets and lingering uncertainty in the IT sector amid global AI-led disruption concerns. “Overall, the undertone remains constructive, supported by domestic economic resilience and clear leadership from banking heavyweights. That said, participation is likely to remain selective, with ongoing sectoral rotation shaping near-term price action.”
The Q3 result seasons for India Inc ended on a good note.
JM Financial, in a research note, said in Q3-FY26, Nifty50 EPS grew 13.4% YoY (versus expectation of +10.1% YoY). Ex-financials, EPS jumped 21% YoY (expectation of +16.9% YoY). Following the 3QFY26 results, our Nifty50 EPS has decreased marginally for FY26E by 0.1% and increased for FY27E by 0.2%, it said “Consequently, our Nifty50 EPS growth for FY26E now stands at 7% (earlier 7.1%), and for FY27E at 15.7% (earlier 15.5%). “ FY26, sectors that are expected to do the heavy lifting are: Oil & Gas, Metals and Mining, Telecom and NBFC. Furthermore, if we split the 3QFY26 performance by market capitalization, we see that the proportion of misses was the largest in small caps, followed by mid-caps and then large caps; 40% of small-cap companies missed expectations while the misses were fewer in mid-caps and large-caps at 28% and 25%, respectively, it said.
Hitesh Tailor, Research Analyst, Choice Equity Broking Private Ltd, India VIX declined by 3.55% to close at 12.2225, indicating moderation in volatility expectations and improving trader confidence. In the derivatives segment, heavy put writing at 25,700 and call writing at 26,000 indicate a range-bound bias in the near term., he added.
Meanwhile, Japanese and Korean markets are up in early deal on Thursday.
Hariprasad K, Research Analyst and Founder, Livelong Wealth, said: Institutional participation remained supportive, with DIIs and FIIs recording net inflows of ₹360 crore and ₹1,125 crore, respectively, in the cash market on Wednesday. “Meanwhile, FII positioning in the derivatives segment continues to reflect a net bullish bias, reinforcing a mildly constructive undertone heading into the upcoming session,” he added.
Published on February 19, 2026