Domestic equity indices ended with substantial gains on Monday, extending their rally for a second consecutive session, after the Supreme Court of the United States struck down import levies imposed by President Donald Trump, prompting him to announce a temporary 15% tariff. The Nifty settled above the 25,700 mark.

As per provisional closing data, the barometer index, the S&P BSE Sensex advanced 479.95 points or 0.58% to 83,294.66. The Nifty 50 index gained 141.75 points or 0.55% to 25,713. In the two consecutive trading session, the Sensex and Nifty jumped 0.95% and 1.01%, respectively.

In the broader market, the S&P BSE Mid-Cap index slipped 0.21% and the S&P BSE Small-Cap index added 0.51%.

The market breadth was negative. On the BSE, 1,927 shares rose and 2,385 shares fell. A total of 206 shares were unchanged.

IPO Update:

Gaudium IVF and Women Health received bids for 3,78,12,663 shares as against 1,46,20,340 shares on offer. The issue was subscribed 2.59 times.

The issue opened for bidding on 20 February 2026 and it will close on 24 February 2026. The price band of the IPO is fixed between Rs 75 and 79 per share.

Shree Ram Twistex received bids for 9,82,080 shares as against 1,06,00,000 shares on offer. The issue was subscribed 0.09 times.

The issue opened for bidding on 23 February 2026 and it will close on 25 February 2026. The price band of the IPO is fixed between Rs 95 and 104 per share.

Clean Max Enviro Energy Solutions received bids for 74,72,808 shares as against 2,18,23,329 shares on offer. The issue was subscribed 0.34 times.

The issue opened for bidding on 23 February 2026 and it will close on 25 February 2026. The price band of the IPO is fixed between Rs 1,000 and 1,053 per share.

Two Banks Flag Fraud Cases

IDFC First Bank slumped 16.30% to Rs 69.94 after the bank said that it has uncovered fraudulent transactions worth around Rs 590 crore at one of its branches in Chandigarh, allegedly involving a few employees.

In a regulatory filing made on Sunday, the private sector bank said that based on a preliminary internal assessment (upon receipt of communication from a particular Department of Government of Haryana), the bank has identified an incident involving unauthorized and fraudulent activities by certain employees at a particular branch in Chandigarh and potentially involving other counterparties.

Detailing the events that led to the aforementioned discover, the bank stated that it had received a request from a particular Department of Haryana Government for closure of its account and transfer of funds to another bank. In the process, certain discrepancies were observed in the amount mentioned vis-'-vis the balance in the account.

Meanwhile, AU Small Finance Bank slumped 5.89% to Rs 968.30 after the Haryana government decisively removed the bank from its list of empanelled lenders due to serious allegations of fraudulent activities. In a statement, the bank said that on 18 February 2026, it received a separate communication from the department seeking information regarding suspected unauthorised transactions between a government account and another customer account.

As of 21 February 2026, deposits from the Government of Haryana with AU Small Finance Bank stood at Rs 538 crore across nearly 200 accounts, accounting for about 0.4% of the bank's overall deposits as of 31 December 2026.

Buzzing Index:

The Nifty PSU Bank index jumped 1.36% to 9,796.85. The index rallied 3.06% in the two consecutive trading sessions.

Indian Bank (up 3.81%), Union Bank of India (up 1.85%), Canara Bank (up 1.43%), Bank of India (up 1.42%), Bank of Maharashtra (up 1.26%), Bank of Baroda (up 1.25%), State Bank of India (up 0.94%), Indian Overseas Bank (up 0.88%), Central Bank of India (up 0.55%) and Punjab National Bank (up 0.54%) advanced.

Stocks in Spotlight:

Dee Development Engineers surged 16.35% after the company announced that it, along with its material subsidiary, has secured contracts aggregating approximately Rs 173 crore.

Adani Ports and Special Economic Zone advanced 2.75% after the company's subsidiary Adani Gangavaram Port signed a memorandum of understanding with NMDC, a Government of India enterprise, and Vale S.A., Brazil.

Axis Bank added 1.34% after the bank has clarified that it has neither submitted nor is planning to submit any bid for a stake in CreditAccess Grameen.

UPL tumbled 14.15% after the company's restructuring plan triggered concerns over leverage and the post-rejig capital structure.

Morepen Laboratories zoomed 15.11% after the company announced that it has secured a multi-year contract development and manufacturing organization (CDMO) mandate valued at approximately Rs 825 crore from a leading global pharma major.

JSW Infrastructure added 1.94% after the company's board approved the issuance of 25 crore equity shares with face value of Rs 2 each, to fund its multi year expansion program

Lotus Chocolate Company declined 1.97% after the company announced temporary shutdown of its manufacturing facility situated in Sangareddy, Telangana for 15 days from 24 February 2026.

R&B Denims rose 1.94% after the company secured sales orders aggregating to around Rs 215.88 crore for the supply of around 12,000,000 meters of denim fabric products from established merchant exporters.

Olectra Greentech gained 2.50% after its associate, Evey Trans (EVEY), secured two Letters of Award (LOAs) worth Rs 1,800 crore from the Telangana State Road Transport Corporation (TGSRTC).

Patel Engineering rose 2.68% after the company said that it has been declared the lowest bidder (L1) from Himachal Pradesh Power Corporation (HPPCL) for the construction of the Renukaji Dam Project in Himachal Pradesh.

Global Markets:

Most European markets traded lower on Monday as more uncertainty surrounding U.S. trade tariffs weighed on risk appetite.

Markets in Asia ended mostly higher as investors monitored developments related to the United States tariffs.

While the Supreme Court ruled on Friday that the Trump administration unlawfully imposed the measures last year, US President Donald Trump used different legal means to raise global levies to 15% from 10% over the weekend.

Markets in China and Japan were closed for a holiday.

On Friday, U.S. stocks rose after the Supreme Court ruling, potentially providing relief for companies burdened by higher costs from the duties and easing concern about sticky inflation still plaguing the U.S. economy.

The S&P 500 advanced 0.69% and closed at 6,909.51, while the Nasdaq Composite gained 0.9% and settled at 22,886.07. The Dow Jones Industrial Average added 230.81 points, or 0.47%, and ended at 49,625.97. The 30-stock index recovered from a 200-point loss earlier in the session on disappointing economic data.

Data released on Friday showed that the US economy expanded an annualized 1.4% in Q4 2025, the least since Q1 2025, following a 4.4% growth in Q3 and well below widely reported forecasts of 3%, the advance estimate showed.

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