Benchmarks trade flat in early deals after negative start

Indian equity benchmarks made negative start on Tuesday amid ongoing U.S.-Iran tensions and uncertainty over the Federal Reserve's rate path. As per a report, Iran conducted naval drills near a critical regional transit chokepoint prior to talks with the U.S. Also, persistent fund outflows from foreign institutional investors who offloaded equities worth Rs 972.13 crore on Monday, dampened the market sentiments. However, soon markets recovered and were trading flat in early deals. Some support came as Commerce Secretary Rajesh Agrawal said that a team of Indian officials will visit the U.S. next week to finalise the legal text for an interim trade agreement, which is likely to be signed in March. Traders took note of report that the government said the country's exports rose marginally by 0.61 per cent to $36.56 billion in January. 

On the global front, there are no cues from Wall Street as U.S. markets were shut on Monday for President's Day. Also, the mood in Asian markets is largely cautious with several markets in the region closed for Lunar New Year holidays. Japan’s Nikkei is trading lower, losing ground for a fourth straight session, with losses in technology and defense sectors.

The BSE Sensex is currently trading at 83278.18, up by 1.03 points after trading in a range of 82987.43 and 83287.91. There were 14 stocks advancing against 17 stocks declining on the index.

The top gaining sectoral indices on the BSE were IT up by 1.96%, TECK up by 1.20%, Industrials up by 0.70%, Capital Goods up by 0.70% and FMCG up by 0.66%, while Metal down by 1.08%, Oil & Gas down by 0.55%, Energy down by 0.44%, Basic Materials down by 0.39% and Bankex down by 0.31% were the top losing indices on BSE.

The top gainers on the Sensex were Infosys up by 2.94%, ITC up by 2.19%, HCL Technologies up by 1.81%, Asian Paints up by 1.52% and Tech Mahindra up by 1.35%. On the flip side, Eternal down by 2.85%, Kwality Wall's (India) down by 1.73%, Tata Steel down by 0.97%, Reliance Industries down by 0.88% and ICICI Bank down by 0.78% were the top losers.

Meanwhile, with a view to finalise trade pact as early as possible, Commerce Secretary Rajesh Agrawal has said that in the coming week, an Indian officials’ team will visit the US to finalise the legal text for an interim trade agreement, which is expected to be signed in March. The visit is likely to start from February 23, 2026. Earlier, on February 7, the two countries issued a joint statement finalising a framework for the first phase of the bilateral trade agreement. 

Agrawal said ‘the joint statement lays down the contours of the deal. Now the contours of the deal have to be translated into a legal agreement, which will be signed between the two sides’. He noted that both sides are engaged in finalising that legal agreement and virtual talks are going on. He added India’s chief negotiator Darpan Jain will be leading a delegation to the US to finalise the legal trade agreement.

Meanwhile, US Ambassador Sergio Gor and Admiral Samuel J Paparo, commander of the US Indo-Pacific Command, visited the Indian Army’s Western Command headquarters on February 16, 2026 and held discussions with Lieutenant General Manoj Kumar Katiyar on strategic security dynamics along India’s Western Front. Gor said the US-India defence partnership continues to grow stronger.

The CNX Nifty is currently trading at 25662.30, down by 20.45 points or 0.08% after trading in a range of 25570.30 and 25664.85. There were 18 stocks advancing against 33 stocks declining on the index.

The top gainers on Nifty were Infosys up by 3.20%, ITC up by 2.28%, HCL Technologies up by 2.10%, Tech Mahindra up by 1.59% and Asian Paints up by 1.46%. On the flip side, Eternal down by 2.81%, Kwality Wall's (India) down by 2.31%, Hindalco down by 2.02%, Shriram Finance down by 1.91% and Cipla down by 1.07% were the top losers. 

On the Asian front, Nikkei 225 slipped 461.41 points or 0.81% to 56,345.00.