WEEKLY MARKET RESEARCH REPORT: February 9-13,2026 | Scrolls

by Karnivesh | 2026

WEEKLY MARKET RESEARCH REPORT 9-13 Feb 2026.pdf

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The week of February 9–13 didn’t look dramatic at first glance. The Nifty ended up just 1.3% higher, and the final session was bruising enough to make headlines scream “global selloff.” But beneath the surface, this was one of those weeks that redefines market character the kind that tells investors who is really in control.

It began over the weekend, not on Dalal Street, but in a policy room.

When the Reserve Bank of India delivered its February policy, markets got exactly what they wanted—and a little more. Rates were held steady, as expected. But the real surprise came from the inflation forecast, slashed sharply to 2.1% for FY26. That single number changed the mood. It told investors that inflation is no longer the enemy and that growth will not be sacrificed pre-emptively.

Monday morning reflected that clarity. The market didn’t just rise it breathed easier. Banks surged, infrastructure followed, volumes jumped well above average. This wasn’t short covering. It was conviction.

As the week progressed, policy optimism found validation in hard numbers.

Infrastructure earnings arrived, and they didn’t disappoint. Larsen & Toubro delivered exactly what long-term investors crave: execution strength, margin discipline, and an order book that stretched far into the future. Rail and road builders echoed the same story. The message was unmistakable India’s capex cycle isn’t a Budget speech narrative anymore; it’s an earnings reality.

Banks, especially PSU lenders, amplified this optimism. Improving asset quality, lower provisions, and steady loan growth signaled that the financial plumbing of the economy is finally clean enough to support sustained expansion. State Bank of India didn’t just rally it re-rated.

By midweek, something important happened: the market did not overheat.

Instead of chasing the same winners, money rotated. Defensives like FMCG and pharma saw steady buying. Volatility stayed calm. The index moved sideways not because buyers vanished, but because portfolios were being rebalanced. This kind of consolidation at higher levels is what strong markets do.

Then came Friday.

Global bond yields spiked. Wall Street sold off. IT stocks cracked. The Nifty dropped sharply in a single session enough to shake out weak hands and test sentiment. But the selloff never spiraled. Domestic institutions stepped in aggressively, absorbing supply late in the day. The market gave back some gains, but it refused to break.

That refusal was the real headline of the week.

By the close, the message was clear: India’s market is no longer driven by foreign mood swings. FPIs mattered, but they weren’t decisive. Domestic capital mutual funds, insurers, pensions set the floor. Corrections were bought. Volatility was contained. Leadership stayed intact.

Technically, the market confirmed what fundamentals suggested. The Nifty held well above key moving averages. Momentum remained positive without slipping into excess. Bank Nifty broke into fresh territory, signaling that financials are once again the engine of the rally.

Globally, the environment was far from perfect. US yields rose. Tech stocks struggled. China remained uncertain. And yet, Indian equities outperformed emerging markets decisively. That divergence wasn’t accidental it was earned.

As the week closed, investors weren’t euphoric. They were comfortable. Comfortable that policy is aligned with growth. Comfortable that earnings are delivering where it matters. Comfortable that domestic money is strong enough to absorb global shocks.

Looking ahead, the next week isn’t about discovery it’s about confirmation. Heavyweights like Tata Consultancy Services and Reliance Industries will test sentiment, while US inflation data will test nerves. But unless those triggers go decisively wrong, the broader structure remains intact.

The bigger story is already written.

The post-Budget correction is over.The 25,000 zone has quietly become a low-risk foundation, not a fragile floor.And the market has entered a phase where earnings, policy stability, and domestic liquidity not global panic decide direction.

For investors, this wasn’t just a good week. It was the week that confirmed the bull market never left.