Nifty Holds Above 25,650 in Afternoon Trade as Banks and Reliance Support Index
As of afternoon trade on February 23, 2026, Indian equities remained firm, with the Nifty 50 holding above 25,650. The broader tone stayed positive through the session, though sector performance was mixed.
Private banks and Reliance were the main supports for index strength. Weakness in IT shares limited the upside in the broader market.
The benchmark stayed stable after the morning rise, with buying interest concentrated in large-cap stocks with high index weight. The move was led by index heavyweights, not by a broad-based rise across sectors.
Why the Market Reacted
The main trigger for the day’s rally was the US Supreme Court verdict striking down Trump-era tariffs. The decision improved global risk sentiment and supported equities during the day.
In India, this risk-on mood supported large financial names and Reliance, helping benchmarks hold gains into afternoon trade. The move reflected a broader macro sentiment shift, while IT counters stayed weak.
Price and Technical Snapshot
The following stock snapshot is as of February 20, 2026.
- Reliance closed at 1,419.40, up 0.86%. Volume was 7,987,891 against average volume of 8,681,672. RSI-14 was 45.50. MACD line was -9.3048 and signal was -10.9207. SMA 20 was 1,423.65 and SMA 50 was 1,476.07, indicating the stock was trading below both averages.
- HDFC Bank closed at 913.15, down 0.13%. Volume was 21,104,456 against average volume of 26,010,540. RSI-14 was 39.18. MACD line was -8.3811 and signal was -7.9650. SMA 20 was 929.51 and SMA 50 was 950.33, indicating the stock was trading below both averages.
- ICICI Bank closed at 1,395.50, up 0.48%. Volume was 9,740,418 against average volume of 11,019,274. RSI-14 was 50.80. MACD line was 6.5466 and signal was 7.0976. SMA 20 was 1,390.93 and SMA 50 was 1,381.69, indicating the stock was trading above both averages.
- Axis Bank closed at 1,369.00, up 1.12%. Volume was 3,692,456 against average volume of 4,356,508. RSI-14 was 58.88. MACD line was 17.6405 and signal was 17.4175. SMA 20 was 1,345.66 and SMA 50 was 1,297.81, indicating the stock was trading above both averages.
Afternoon Context
As of afternoon trade on February 23, 2026, benchmark strength remained intact with the Nifty 50 above 25,650, led by index-heavy private banks and Reliance, while IT remained a drag.
The intraday market move is from February 23, 2026 afternoon trade, while the technical readings listed above are from February 20, 2026.