WSJ ProFeb. 13, 2026 6:14 pm ET

Los Angeles County accused American Industrial Partners of conspiring to monopolize the market for firetrucks, alleging the private-equity firm’s tactics led to shortages and high prices. 

The county on Thursday brought the antitrust lawsuit against the private-equity firm and Rev Group, a firetruck manufacturer AIP formed two decades ago, as well as Pierce Manufacturing and its parent company, Oshkosh Corp., which aren’t affiliated with private equity. The case was filed in the U.S. District Court in Los Angeles.

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Indian benchmark indices closed sharply lower on Friday, dragged down by broad-based selling across sectors. Consumer, IT, and energy stocks were among the biggest laggards.

The Nifty settled at 25,471.10, down 336 points or 1.30%, while the BSE Sensex tumbled 1,048.16 points, or 1.25%, to close at 82,626.76.

The volatility gauge, India VIX, ended at 11.73, down 1.53% from the previous close.

Analysts’ Take

Nilesh Jain, Vice President – Head of Technical & Derivative Research at Centrum Finverse, said the Nifty opened with a gap-down and slipped below its key 21-, 50-, and 100-day moving averages, placed at 25,480, 25,770, and 25,690, respectively.
The index is attempting to fill last week’s downside gap, and the crucial support at the 200-DMA near 25,300 is likely to be tested in the near term, Jain added.

“India VIX had surged sharply earlier to around 13, and any further rise in volatility could be a cause for concern. Overall, the market structure appears sideways to weak, and pullback rallies are likely to face selling pressure as long as the Nifty remains below 25,800,” he said.

European Markets

Most major European indices were trading broadly positive around 2:07 p.m. GMT (7:52 p.m. IST). Germany’s DAX was higher, while France’s CAC 40, the Stoxx 600, and the UK’s FTSE 100 were also trading in the green. Spain’s IBEX, however, was marginally lower.

Tech View

Rupak De, Senior Technical Analyst at LKP Securities, said India VIX has moved back above its 200-DMA, indicating rising caution among market participants.

From a technical perspective, the setup has turned relatively cautious, with the index slipping below its 20-DMA for the first time in recent sessions. He added that the Nifty has breached the 38.2% Fibonacci retracement of the prior upward move from 24,571 to 26,341.

“With the index closing below the key support level of 25,500, the near-term bias appears weak, with potential for a decline toward 25,000 in the short term. On the upside, immediate resistance is seen around 25,800,” he said.

Most Active Stocks (Value)

Bajaj Finance (Rs 591 crore), Infosys (Rs 377 crore), HDFC Bank (Rs 375 crore), Larsen & Toubro (Rs 222 crore), TCS (Rs 211 crore), HCL Technologies (Rs 194 crore), and Reliance Industries (Rs 144 crore) were among the most active stocks on the BSE in value terms.

Most Active Stocks (Volume)

SpiceJet (4.86 crore shares), Vodafone Idea (3.59 crore shares), YES Bank (78.48 lakh shares), Suzlon Energy (66.30 lakh shares), Bajaj Finance (58.42 lakh shares), Eternal (44.23 lakh shares), and Ola Electric (43.51 lakh shares) were among the most actively traded stocks in volume terms on the BSE

Stocks Showing Buying Interest

Bajaj Finance, Lenskart Solutions, Engineers India (EIL), GE Power India, Universus Photo Imagings, Repro India, Laxmi Cotspin, and Anmol India witnessed notable buying interest.

52-Week High/Low

A total of 83 stocks hit their 52-week highs, while 193 slipped to 52-week lows. Stocks touching fresh highs included Apex, Avanti Feeds, Bharat Forge, Eicher Motors, Jamna Auto Industries, Lenskart, and Sharda Cropchem.

Stocks Seeing Selling Pressure

Among large-cap names, HDFC Bank, Reliance Industries, and ICICI Bank saw significant selling pressure. Other laggards included SpiceJet, Hindustan Unilever, Hindalco Industries, Eternal, Adani Enterprises, Crown Lifters, Muthoot Finance, and ONGC.

Market Breadth

Heavyweights such as HDFC Bank, Reliance Industries, ICICI Bank, and Hindustan Unilever weighed on the indices. Market breadth remained negative. Of the 4,364 stocks traded on the BSE, 1,253 advanced, 2,960 declined, and 151 remained unchanged.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

Nifty ended Friday with sharp cuts amid selling pressure across the board, with consumer, IT and energy stocks dragging the markets the most. India VIX also moved back above its 200-DMA, indicating rising fear among the market participants.

Commenting on the technical charts, Rupak De, Senior Technical Analyst at LKP Securities, said that the setup has turned relatively cautious, with the index slipping below its 20-DMA for the first time in the past few sessions. Additionally, it has breached the 38.2% Fibonacci retracement of the prior up move from 24,571 to 26,341, he added. “With the index closing below the key support level of 25,500, the near-term bias appears weak, and there is potential for a decline toward the 25,000 mark in the short term. On the upside, immediate resistance is seen around 25,800,” De said.

Here are 2 stock recommendations for Friday:

Buy Kirloskar Oil Engines at Rs 1,375-1,385 | Upside: 5% | Target: Rs 1,500 | Stop Loss: Rs 1,320

Kirloskar Oil Engines is currently taking a breakout of the rounding bottom formation on the daily time frame. The RSI is trending upward, reflecting positive momentum, and the stock finds support at the 21-day EMA, with all key EMAs rising. The stock is trading above important moving averages, indicating a bullish trend. 1,320 could work as an immediate support, and a hurdle can be seen at 1,500.(Drumil Vithlani, Technical Research Analyst, Bonanza Portfolio)

Buy Bajaj Finance at Rs 1,024-1,026 | Upside: 4% | Stop Loss: Rs 990 | Target: Rs 1,070

Bajaj Finance is currently taking a breakout of the downward-moving channel on the daily time frame. The lower trend line has provided support, accompanied by the formation of a bullish candlestick pattern, indicating a potential short-term upward movement in the stock. Momentum Indicator RSI is trading near the overbought region, which confirms the bullishness in the script.

(Drumil Vithlani, Technical Research Analyst, Bonanza Portfolio)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times.)

With global equity markets swinging sharply on rate expectations, geopolitical risks and shifting sector narratives, Brookfield Asset Management CEO Bruce Flatt’s long-standing investment philosophy appears especially relevant for today’s environment. Flatt continues to stress that long-term wealth creation comes not from chasing popular themes, but from identifying genuine value where others are reluctant to invest.

Speaking on Brookfield’s investment approach a few years ago in a presentation made at the Talk @ Google, whose video is available on YouTube, Flatt consistently highlighted the importance of moving away from crowded trades and focusing instead on areas where capital is scarce. In periods when investor sentiment is driven by short-term news flow and momentum, he believes the biggest opportunities often lie in segments that are temporarily out of favour.

Flatt’s framework centres on profitability and durable cash flows rather than headline growth. He has repeatedly argued that growth, by itself, does not necessarily translate into value creation. Instead, Brookfield prioritises assets and businesses that can generate steady returns over long periods, even if they are not part of the market’s prevailing narrative.

A key pillar of this strategy is investing in real assets such as infrastructure, real estate and renewable power, which tend to offer long-term contracted cash flows and inflation protection. According to Flatt, these assets provide resilience during market cycles and can help smooth volatility when traditional equity markets are driven by shifting risk appetite.

In an environment where investors are increasingly influenced by fast-moving trends, Flatt also warns against being swayed by popular stories or excessive optimism. He has noted that successful investing often requires a contrarian mindset of being willing to commit capital when others are pulling back, and maintaining discipline when markets become overheated.

Another core principle of Brookfield’s approach is buying quality assets, even if that means paying a modest premium, while ensuring they are acquired below long-term replacement costs. This, Flatt believes, provides a margin of safety and improves the odds of superior returns over time.
With market volatility expected to remain elevated amid global policy shifts and economic uncertainty, Flatt suggests long-term investors to stick to fundamentals, focusing on cash generation and resisting the urge to follow market fashion. Over time, he believes, patience and value-driven discipline continue to be the most reliable drivers of sustainable returns.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

The chief executives of the largest U.S. banks together raked in $258 million in compensation for 2025, after a strong economy and buoyant Wall Street propelled their businesses to record levels.

The CEOs of

JPMorgan Chase, Bank of America, Citigroup, Goldman Sachs, Morgan Stanley

MS

1.84%

increase; green up pointing triangle and Wells Fargo WFC 0.80%increase; green up pointing triangle each earned $40 million or more last year, a collective increase of more than 21% from 2024. 

Morgan Stanley’s Ted Pick and Wells Fargo’s Charlie Scharf saw the biggest pay bumps at 32% and 28%, respectively.

At JPMorgan, compensation for Jamie Dimon rose 10% to $43 million. The 69-year-old has overseen the expansion of the bank into the nation’s largest over his two decades as CEO.

The CEO’s of those three banks, along with Bank of America, Citigroup and Goldman Sachs, each earned $40 million or more last year, a collective increase of more than 21% from 2024.

A decisive break below the 20-day moving average has weakened the near-term technical structure of the Nifty, shifting the risk-reward equation to the downside, says Rupak De of LKP Securities. With volatility spiking and key Fibonacci support levels breached, he sees potential for further corrective moves toward 25,000 unless the index reclaims resistance levels swiftly.

Edited excerpts from a chat:

Nifty ended the week lower as IT stocks dragged the index. How do you see the risk-reward changing for the week ahead?

The Nifty opened gap-down amid heavy morning selling in IT stocks, triggered by negative cues from the US markets—particularly the NASDAQ, which was hammered overnight. By the end of the session, the IT index staged a smart recovery from the day’s low; however, the headline index still closed deep in the red. Meanwhile, India VIX, the real villain of the day, moved back above its 200DMA, indicating rising fear and volatility during the session.

The chart setup appears somewhat weak, with the index slipping below its 20DMA for the first time in the last 3–4 sessions. Technically, the index has also fallen below the 38.2% Fibonacci retracement of the prior rally from 24,571 to 26,341.

As the index has closed below the support of 25,500, we expect the Nifty to remain weak with a potential to fall towards 25,000 in the short term. On the higher end, resistance is placed at 25,800.

Nifty IT index ended the week 8% lower as investors remain worried about the impact of AI. Do you see some shorting opportunities here?

The IT index has been witnessing a highly volatile and uneven uptrend. Initially, it delivered a false breakout and then corrected sharply, an abrupt move that caught many off guard. Subsequently, it broke below the support of its rising trendline at 35,400—a level I had highlighted as the “make-or-break” zone in last week’s ET Market View, triggering a steep decline toward 31,422.

In addition, a hidden bearish divergence is visible on the weekly RSI, indicating weakening underlying momentum and reinforcing the cautious outlook for the sector.

Defence stocks are doing well. How would you trade, and do you see more upside?

The defence sector, though limited in participation, maintained relative strength during the week. On the weekly chart, a noticeable spike was observed in the current session, and the index continued to hold above its 20-week SMA, reflecting sustained positive momentum.I expect this constructive sentiment to persist in the short term. Additionally, several stocks within the space are hovering just above their immediate support levels, which could act as a base for further upside if broader market conditions remain supportive.

SBI was among the top weekly gainers. Do you think more upside is left?

SBI has rallied sharply in recent sessions following a consolidation breakout on the weekly chart. The trend remains strong and is likely to sustain in the short term as well.

However, it would be prudent to accumulate the stock in a staggered manner. Dips should be utilised as buying opportunities from a medium-term investment perspective.

Give me your top trading ideas for the week

Sell Indian Hotels | Entry: 700 | Stop Loss: 717 | Target: 670

The stock has formed a lower high on the daily chart, indicating subdued buying interest at higher levels. It has also slipped below its 20DMA, reflecting short-term weakness in trend structure. Additionally, the RSI has developed a hidden bearish divergence, signalling fading momentum.

Given the current technical setup, the stock may remain under pressure in the near term, with potential downside toward 670. On the upside, 717 acts as immediate resistance; a sustained move above this level could negate the bearish bias.

Sell Persistent | Entry: 5,480 | Stop Loss: 5,600 | Target: 5,280

Although the stock witnessed a smart intraday recovery after a gap-down opening, it had earlier broken below its 200DMA, suggesting a negative short-term trend. On the hourly chart, the stock appears to be on the verge of a breakdown. The RSI has also broken below a rising trendline, reinforcing the weakening momentum.

Based on the prevailing technical structure, a bearish view can be drawn, with the price potentially drifting toward 5,280. Immediate resistance is placed at 5,600.

Buy Kirlosker Eng | Entry: 1,379 | Stop Loss: 1,325 | Target: 1,500

The stock has moved above its previous swing high, supported by healthy volumes, indicating strengthening buying interest. The RSI is in a bullish crossover and trending higher, reflecting improving momentum. Additionally, the price has sustained above its 20DMA, supporting the positive bias.

In the short term, the stock may advance toward 1,500. Immediate support is placed at 1,325; a decisive breach below this level could weaken the prevailing uptrend.