New Delhi, Feb 22: Domestic macroeconomic data, monthly F&O expiry and global developments following US President Donald Trump’s tariff hike after the Supreme Court verdict are likely to keep equity markets volatile next week, analysts said.
Besides, the trading activity of foreign investors, developments between the US and Iran, movements in crude oil prices and global monetary signals will also guide market movement during the week, they added.
“Markets are likely to remain volatile in the coming week, particularly with the monthly F&O expiry scheduled for February 24. On the domestic front, key data releases include GDP figures, government budget value, foreign exchange reserves, and infrastructure output (YoY),” Ajit Mishra, SVP, Research, Religare Broking Ltd, said.
He said investors will assess the implications around a fresh executive order by Trump which may influence trade dynamics, tariff structures, and global risk sentiment following the US Supreme Court verdict on tariffs.
Trump on Friday levied a 10 per cent tariff on countries, including India, for 150 days following the court ruling, and a day later raised it to 15 per cent, heightening concerns of renewed trade tensions and potential global spillovers, analysts said.
In a major setback to Trump’s pivotal economic agenda in his second term, the US Supreme Court ruled that the tariffs imposed by Trump on nations around the world were illegal and that the president had exceeded his authority when he imposed the sweeping levies by using the International Emergency Economic Powers Act (IEEPA) of 1977.
Vinod Nair, Head of Research, Geojit Investments, said the investors will closely monitor the developments between the US and Iran, crude oil price movements, and global monetary signals, adding that the release of India’s GDP data next week will be keenly watched for its implications on earnings momentum and broader market positioning.
On a weekly basis, the 30-share BSE Sensex rose 187.95 points, or 0.22 per cent, while the Nifty went up 100.15 points, or 0.39 per cent.
“Market sentiment remained volatile during the week, oscillating between caution and optimism. Strong buying interest in banking, financials, power, and select FMCG counters helped absorb the impact of persistent global uncertainties,” Nair said.
He added that IT stocks remained subdued as concerns around AI-led disruption and margin pressures weighed on sentiment.
Despite these challenges, resilience in large caps, selective sectoral flows, and optimism around India’s participation in Pax Silica ensured that the market ended on a positive bias,” he said.
Analysts said the domestic market is likely to continue its range-bound movement in the near-term, with liquidity flows and global risk sentiment acting as key triggers.
Mcap of six of top 10 valued firms climbs Rs 63,000 cr
The combined market valuation of six of the top-10 valued firms climbed Rs 63,478.46 crore last week, led by Larsen & Toubro and State Bank of India, which emerged as the biggest winners.
The 30-share BSE Sensex rose 187.95 points, or 0.22 per cent, over the past week.
Larsen & Toubro, State Bank of India (SBI), HDFC Bank, Life Insurance Corporation of India (LIC), Bajaj Finance, and Reliance Industries were the gainers, while Bharti Airtel, ICICI Bank, Infosys, and Tata Consultancy Services saw their valuations erode.
The market valuation of Larsen & Toubro jumped by Rs 28,523.31 crore to Rs 6,02,552.24 crore. SBI added Rs 16,015.12 crore to Rs 11,22,581.56 crore.
The valuation of HDFC Bank climbed by Rs 9,617.56 crore to Rs 14,03,239.48 crore, and that of LIC edged higher by Rs 5,977.12 crore to Rs 5,52,203.92 crore.
The market capitalisation (mcap) of Bajaj Finance advanced Rs 3,142.36 crore to Rs 6,40,387 crore, and that of Reliance Industries went up Rs 202.99 crore to Rs 19,21,678.78 crore.
However, the mcap of Bharti Airtel tumbled Rs 15,338.66 crore to Rs 11,27,705.37 crore.
The valuation of ICICI Bank eroded by Rs 14,632.10 crore to Rs 9,97,346.67 crore.
Infosys’ mcap declined by Rs 6,791.58 crore to Rs 5,48,496.14 crore and that of Tata Consultancy Services (TCS) dipped Rs 1,989.95 crore to Rs 9,72,053.48 crore.
Reliance Industries remained the most-valued firm, followed by HDFC Bank, Bharti Airtel, State Bank of India, ICICI Bank, Tata Consultancy Services, Bajaj Finance, Larsen & Toubro, Life Insurance Corporation of India, and Infosys. (PTI)
