PSU Bank Index Hits High as Nifty Ends Above 25,700

PSU Banks Lead Selective Rally as Nifty Closes Above 25,700

Indian equities ended higher on February 23, 2026. Sensex rose 479.95 points and Nifty gained 141.75 points to close above 25,700.

PSU banks led the session. The PSU Bank index rose 1.36% and touched a fresh intraday high. Auto and FMCG stocks also outperformed.

The rally was not broad. IT fell 1.42%, which capped part of the benchmark gains. Market breadth stayed selective, with midcaps weaker than smallcaps. More than 110 stocks hit fresh 52-week highs at the close, including SBI and NTPC.

Sector Rotation Drove the Session

The move reflected sector rotation rather than uniform buying. Gains were concentrated in PSU banks, auto and FMCG, while IT remained weak through the day and into the close.

Stock-level participation was active, but performance across sectors and market-cap segments stayed uneven. PSU banks remained the main leadership group, with SBI central to the theme because of its index weight and strong close.

Technical Snapshot

Technical readings use closing prices from February 23, 2026, and indicators from February 20, 2026.

• SBI closed at 1,227.80, up 0.96%. Volume was 9,732,483 against an average volume of 17,294,701. RSI (14) was 75.54. The MACD line was 51.6747, above the signal line of 43.9815. The stock stayed above its 20-day moving average of 1,125.34 and 50-day moving average of 1,049.44.
• Kotak Bank closed at 430.85, up 2.25%. Volume was 10,194,071 against an average volume of 11,739,871. RSI (14) was 49.36. The MACD line was -0.1744, above the signal line of -0.7732. The stock stayed above its 20-day moving average of 418.15 and 50-day moving average of 425.63.
• NTPC ended at 375.45, up 0.67%. Volume was 16,135,214 against an average volume of 8,183,131. RSI (14) was 63.83. The MACD line was 6.9117 and the signal line was 7.0520. The stock stayed above its 20-day moving average of 361.52 and 50-day moving average of 345.39.
• Infosys closed at 1,327.50, down 1.90%. RSI (14) was 22.49. The stock stayed below its 20-day moving average of 1,511.02 and 50-day moving average of 1,584.26.
• Tech Mahindra closed at 1,440.90, down 1.10%. RSI (14) was 26.63. The stock stayed below its 20-day moving average of 1,626.95 and 50-day moving average of 1,622.48.

Closing Context

The close showed clear leadership in PSU banks, supported by strength in auto and FMCG, while IT remained the key drag. Benchmarks finished in positive territory, but participation was uneven. The session combined index gains, selective breadth, and strong 52-week high activity, with sector rotation defining the day’s market structure.