Indian equity markets likely flat at open; Nifty near 26,060 with mid- and small-cap stocks gaining

Indian equity markets are likely to open flat on Wednesday amid mixed global cues. Gift Nifty at 26,060 indicates about 75 points gain at open. According to analysts, markets are likely to maintain a positive bias, with stock-specific action expected to intensify as the Q3 earnings season enters its final leg. Focus will also be on statements from the US, following the Indo-US interim agreement. According to analysts, now mid- and small-cap stocks are also participating in the rally, signalling a broad-based rally. The broader fundamental backdrop remains supportive, with FII flows turning decisively positive this month, lending strength to overall sentiment, said Ponmudi R, CEO of Enrich Money. Domestic institutional investors continue to accumulate on declines, providing a strong underlying cushion even during low-activity sessions. Derivatives data reflect an optimistic and gradually improving undertone. According to Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities, Call writers have aggressively added fresh positions at at-the-money and nearby strikes, thereby capping the immediate upside. Conversely, put writers have begun building positions at lower strikes, indicating expectations of a range-bound market with clearly defined support levels. A substantial open interest build-up of around 59.05 lakh contracts at the 26,000 call strike highlights this level as a formidable resistance. Meanwhile, the addition of nearly 38.70 lakh put contracts at the 25,500 strike strengthens its role as an immediate support, he said The Put–Call Ratio (PCR) remains in a positive zone at 1.02, reflecting improving sentiment and the relative dominance of put writers. Hitesh Tailor, Research Analyst - Research at Choice Equity Broking Private Limited, said: Market volatility eased further, with India VIX declining 4.31% to 11.66, indicating a more stable trading environment and controlled price action. “Overall, the market setup favours a buy-on-dips strategy near key support levels, while traders may wait for a decisive breakout above resistance zones before initiating fresh directional positions.” Meanwhile, equities across the Asia Pacific region are up strongly, even as the Nasdaq tumbled overnight and the Dow Jones edged up marginally. Published on February 11, 2026