Auto, Pharma Cushion Nifty as FMCG-Power Drag Persists

14:30-14:45 IST prints keep Nifty below earlier highs while MARUTI and SUNPHARMA remain positive

Between 14:30 IST and 14:45 IST, Nifty stayed below earlier intraday highs and traded around 0.2% lower. MARUTI and SUNPHARMA stayed in the green. ADANIPORTS and TCS were also among gainers, while TRENT, ASIANPAINT, and NTPC remained notable drags.

A live movers snapshot near 14:45 IST again showed Nifty below 25,500, with a similar split between gainers and losers. The move was not a broad selloff. It showed selective strength in some pockets and meaningful pressure in other heavyweight names.

FMCG and power drags offset support from auto-pharma and selected large caps

The index move was shaped by offsetting sector weights rather than one-way risk pressure. Support from leading auto and pharma names reduced the downside, while weakness in FMCG-linked and power counters absorbed much of that support.

This kept benchmark momentum capped through the afternoon window. Early IT-linked strength at the open did not spread enough across sectors to lift the index later in the session. The market stayed choppy, with cushioned downside but no sustained upside move.

Prior-day signal spread shows stronger trend structure in leaders than in key laggards

The technical readings below are from the close on 25 February 2026, one session before the 26 February intraday move.

This spread explains why index cushioning can coexist with choppy trade. SUNPHARMA has the strongest structure, with price above both moving averages and MACD line above MACD signal in positive territory. MARUTI remains below the 50-day average, but MACD line above signal points to improving momentum. TRENT shows weaker positioning with price below both averages and MACD line below signal, while ASIANPAINT remains below the 50-day average in a negative MACD zone.

The session acts as a cushion phase, not a breakout move

• Main view: The session behaved as a downside cushion phase, not a broad breakout. Strength in auto and pharma absorbed part of the pressure, but participation was not wide enough for index expansion.
• Counter-view: This split may still turn out to be short-term noise if banks and IT regain pace late and pull in wider participation.
• Invalidation condition: This view weakens if Nifty reclaims and holds above the morning high into the close, while consumption and power drags move out of top-loser ranks and market breadth turns clearly positive beyond auto-pharma.

This interpretation weakens if breadth and highs improve together into the close

This reading remains conditional because intraday snapshots can change quickly in the final stretch. If the index moves above earlier highs and sustains there with broader participation, while current drag pockets lose intensity, the cushion-without-breakout framework weakens. In that case, the afternoon phase would look more like a temporary pause than a capped session.

By mid-afternoon, rotation remains selective and keeps volatility two-sided

By mid-afternoon, rotation remained selective and two-sided. Auto-pharma leaders helped limit benchmark downside, but FMCG and power pressure still blocked a smooth index extension. The key feature was the leadership-quality gap between stronger pockets and weaker drags within the same session.