The U.S. Supreme Court struck down on Friday (February 20, 2026) President Donald Trump’s sweeping tariffs that he pursued under a law meant for use in national emergencies, rejecting one of his most contentious assertions of his authority in a ruling with major implications for the global economy.
Domestic Equity markets expected to open higher following US Supreme Court ruling against tarde tariffs imposed by US President – Daily Market Update 23rd Feb 2026
Overview and Outlook
Global Stock Market Today
- US equity markets ended on a positive note.
- European equity markets too ended higher in range 0.56% to 1.39%.
- Asian equity markets are trading in green.
- GIFT Nifty is trading up by 180 points, Nifty futures likely to open around 25750 levels.
The Benchmark Nifty index ended higher at 25571 spot levels after adding 117 points to its previous closing values.
Performance on the broader front was mix. Mid cap index traded inline with the benchmark, on the other hand, Small cap index underperformed the benchmark as it settled on a slightly negative note.
Majority of sectoral indices, tracked at NSE, ended higher. Amongst them, PSU Bank and Metal index were the top performers, rose 1.68% & 1.25%. On the flip side, IT index once again underperformed the sectoral peers, down around 1%.
Nifty index will react to US Supreme Court ruling against trade tariffs inposed by The US President Donald Trump. Volatility is expected to be on the higher side. Technically, Nifty index is likely to continue its consolidation move in 25350-26050 spot zone.
Derivatives Overview & Outlook
On Friday, all index futures were up on long buildup as Nifty, Banknifty, Finnifty and Midcapnifty futures added around 1.5%, 2&, 3% & 17% of open interest respectively as long buildup.
Majority of F&O sectors were up on short buildup. Amongst them, Infra, Capirtal Goods, Finance and Metal index witnessed maximum reduction in short positions, Oil & Gas index were up on long buildup.
On options front, put writing along with call unwinding was seen at multiple strikes. maximum positions are at 25000 PE and 26000 CE.
Institutional Trading Activity
Last week, FIIs bought stocks worth Rs 3549 Cr in the cash segment, bought index futures worth Rs 2445 Cr also bought stocks futures worth Rs 1538 Cr. DIIs were too net buyers in the cash segment to the tune of Rs 4335 Cr during the week.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 25770-25860; Supports 25500-25380
Banknifty – Resistances 61600-62000; Supports 61000-60600
Finnifty – Resistances 28350-28450; Supports -28150- 27980
F&O Security in Ban Today: SAIL, SAMMAANCAP
Disclosure
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