Weekly Market Review: Indian Stock Market Last Week (16 Feb – 20 Feb 2026)

Market Pulse: The Week in Review 📊 16-20th feb

The Indian equity market staged a recovery this week, with frontline indices reclaiming lost ground as buyers intervened at lower levels. The Nifty 50 closed at +0.39%, signaling a resilient bounce-back and successfully defending key psychological levels. This emergence of buying interest suggests a shift in short-term momentum.

The broader market is significantly flat, reflecting a surge in risk-on sentiment. The Nifty Midcap 100 closed at +0.13%, while the Nifty Smallcap 100 closed at -0.18%.

Index Performance Snapshot

A quick review of the major indices shows the market momentum for the week.

1. Nifty 50

25,571.25 | +100.15 (+0.39%)

Nifty 50 ended with a steady advance, reflecting sustained buying interest. This gain signals a bullish shift in sentiment, with the index reclaiming and holding above key psychological levels. As bulls strengthen their position, the focus remains on whether the index can maintain this momentum to challenge new highs or if it will face overhead resistance.

2. Nifty Midcap 100

59,513.95 | +75.95 (+0.13%)

The Midcap index saw a marginal uptick, slightly underperforming the frontline benchmark. While the index remained in positive territory, the move suggests a period of cautious stabilization rather than a breakout. Buyers are participating, but the momentum is currently measured as the index navigates immediate resistance levels.

3. Nifty Smallcap 100

17,002.15 | -30.75 (-0.18%)

Smallcaps faced slight selling pressure, ending the session as the lone laggard among the three indices. This minor dip indicates a selective approach by investors and a brief pause in risk-on sentiment for high-beta stocks.

Top Gainers (Nifty 500)

These stocks led the charge, delivering the highest returns this week.

Rank	Stock Name	Sector	Weekly Gain (%)
1	Godfrey Phillips	Consumer Goods	+19.50%
2	Netweb Technol.	IT	+17.41%
3	Newgen Software	IT	+16.12%
4	T R I L	Industrials	+15.77%
5	Schneider Elect.	Industrials	+13.67%

Top Losers (Nifty 500)

The following stocks faced selling pressure and registered the week's biggest declines.

Rank	Stock Name	Sector	Weekly Loss (%)
1	Brainbees Solution	Consumer Goods	-18.70%
2	Ola Electric	Automobile	-14.05%
3	TBO Tek	Consumer Services	-10.66%
4	Blue Jet Health	Healthcare	-10.43%
5	C.E. Info System	IT	-9.92%

F&O Corner

OI Analysis

Understanding Open Interest (OI) helps gauge market sentiment and potential price movements for the next expiry.

Near Resistance: 26,000 (Tallest green bar; significant Call writing acts as a massive "Ceiling"). Near Support: 25,500 (Highest Put OI; serves as the primary "Floor" for buyers). Put Call Ratio (PCR): 0.89 | Sentiment: BEARISH (Aggressive Call writing indicates immediate pressure).

Interpretation: The market exhibits bearish sentiment as Total Call OI (17.89 Cr) significantly outpaces Total Put OI (13.57 Cr). Any upside is likely to be met with fresh selling unless 26,000 is decisively broken.

Max Pain Analysis

Interpretation: The market often gravitates toward the Max Pain level by expiry to minimize losses for Option Writers. The strike of 25,600 aligns with a high concentration of OI, reinforcing it as a pivotal point.

Volatility Index (India VIX)

The 'Fear Index' reflects the market's expectation of volatility.

India VIX: 14.36 | +1.07 (+8.05%)

Interpretation: The India VIX has registered a notable spike, suggesting a return of market uncertainty and increased perceived risk. This expansion reflects heightened trader caution as geopolitical tensions linger.

Major News & Upcoming Events

A summary of the major developments from the week and a look at the events that will drive the market in the coming days.

Major News of the Week

Regulatory Pause: ANMI seeks a 6-month delay on RBI’s 100% cash collateral rule to ease bank lending for intermediaries.
Geopolitical Tension: Tensions flare as the US deploys forces to the Middle East; Trump weighs limited military strikes on Iran.
Japanese Inflow: Foreign investors poured a record $11.5 billion into Japanese shares following PM Takaichi’s victory.
Margin Removal: MCX and NSE removed additional margins on gold and silver futures as prices cooled recently.
Asset Management IPO: SBI Funds Management may file papers for a massive $1.5 billion IPO in March.
Fed Rate Caution: Fed officials suggested potential rate hikes if inflation remains high, showing wariness toward cuts.
Trade Study: ECB study shows China's export surge is driven by weak domestic demand rather than US trade levies.

Key Events for the Upcoming Week

Date	Time (IST)	Event	Region
Tue, Feb 24	—	RBI Market Borrowing Auctions	India
Wed, Feb 25	05:00 PM	M3 Money Supply YoY	India
Fri, Feb 27	04:00 PM	GDP Growth Rate YoY Q4	India
Fri, Feb 27	04:00 PM	Fiscal Year GDP Growth 2nd Est	India
Fri, Feb 27	05:00 PM	Foreign Exchange Reserves	India

Weekly Market Technical Summary

Indicator	Current Signal	Market Bias	Commentary
Price Action	Recovery	Neutral-Bullish	Nifty defended 25,500 zone
Mid/Small Cap	Flat	Neutral	Consolidation phase
PCR	0.89	Bearish	Call writers active
Max Pain	25,600	Rangebound	Potential expiry magnet
VIX	Rising	Cautious	Volatility returning

Weekly Stock Market Outlook

This weekly stock market report reflects stabilization after prior volatility. While the Nifty has reclaimed key levels, the 26,000 resistance remains the decisive breakout barrier.

The Indian stock market last week graph would show:

A recovery bounce
Volatility spike
Rejection near resistance
Range-bound structure forming

Unless 26,000 is decisively broken, the stock market weekly bias remains range-bound between 25,500 and 26,000.

FAQs

1️⃣ How did the weekly market perform last week?

The weekly market showed a mild recovery, with the Nifty 50 closing at 25,571.25 (+0.39%). The index defended the 25,500 support zone, indicating a resilient bounce despite rising volatility.

2️⃣ What does the Indian stock market last week graph indicate?

The Indian stock market last week graph reflects a recovery phase after prior weakness. It shows:

Strong defense near 25,500 support
Resistance near 26,000
Rising volatility (VIX up 8%)
Range-bound movement with slight bullish bias

3️⃣ Why is 26,000 important in the weekly stock market?

The 26,000 level is a major psychological and derivatives resistance. Heavy Call Open Interest at this strike indicates aggressive call writing, making it a strong “ceiling” unless decisively broken.

4️⃣ What does a PCR of 0.89 mean in the stock market weekly analysis?

A Put-Call Ratio (PCR) of 0.89 suggests a slightly bearish sentiment. Call writers are more active than put writers, indicating limited upside unless fresh buying momentum emerges.

5️⃣ Is the weekly stock market trend bullish or bearish?

The weekly stock market trend is currently neutral to mildly bullish, as the index recovered and defended key support levels. However, rising VIX and heavy resistance at 26,000 suggest caution.

6️⃣ What are the key support and resistance levels for next week?

Support: 25,500 (Major OI base)
Resistance: 26,000 (Heavy Call OI)
Max Pain Level: 25,600

7️⃣ Why did India VIX rise last week?

India VIX rose by 8.05% to 14.36 due to geopolitical tensions and global uncertainty. A rising VIX indicates increased volatility expectations and trader caution.

8️⃣ Which sectors outperformed in the weekly market review?

Consumer Goods, IT, and Industrials led gains, with stocks like Godfrey Phillips and Netweb Technology outperforming.

9️⃣ What does Max Pain at 25,600 indicate?

Max Pain at 25,600 suggests that option writers would benefit most if the index expires near this level, increasing the probability of consolidation around this zone.

🔟 What should traders expect in the stock market weekly outlook?

Traders can expect:

Range-bound action between 25,500–26,000
Higher volatility compared to previous weeks
Sector rotation rather than broad-based rallies
Breakout only above 26,000 with strong volumes

Disclaimer: This report is for informational purposes only and does not constitute financial advice. Please consult your financial advisor before making any investment decisions.

Happy Trading!

The Firstock Team