Indian equity benchmarks continued to trade in a narrow range as the Nifty struggled to sustain momentum near the 26,000 mark, weighed down by weakness in the IT space and bouts of profit booking. Market participants are increasingly focused on key technical levels as the index attempts to consolidate after recent gains.

Speaking to ET Now, Rajesh Bhosale from Angel One said the Nifty has been finding it difficult to move past the psychological 26,000 level, leading to some profit booking in the benchmark index. However, he pointed out that the broader technical setup remains constructive.

“If we talk about markets, last few sessions Nifty was struggling around the psychological 26,000 mark and due to weakness in IT space we are seeing some profit booking in this benchmark index. But if we consider the weekly charts of Nifty, last week there was a very strong formation that happened and because of that we remained on the market where a dip should be considered as a buying opportunity. If we see, there is a bullish gap left around 25,700 that coincides with key moving averages. So, 25,700 is what we are expecting to act as a support, but on the higher side 26,000 is the immediate resistance. So, 25,700 to 26,000 is the key range for now and one should play this range. But having said that, stock specific opportunities are there and one should focus on there,” Bhosale said.

With the frontline index moving in a tight band, attention is shifting to sectoral and stock-specific opportunities. Bhosale highlighted strength in the financial space, noting broad-based buying interest.

“So, if we see, financial space is doing very good and broad-based buying is witnessed there. One of the counters from that space I am liking is Bajaj Finance. If we see, despite market weakness this counter is up around 2%. If we see the chart structure, it has been holding above its key moving averages and today we are seeing a flag pattern breakout. Also, on the futures front we are seeing a strong long formation. So, Bajaj Finance can be bought with a stop loss of around 965, in the near term we expect a move towards the levels of 1,025,” he said.

From the auto space, Bhosale also sounded positive on Hero MotoCorp, citing improving momentum indicators.
“The second counter which I am liking is Hero MotoCorp. So, from the auto space as well we are seeing a broad-based positive momentum. This counter, if we see, it has been holding above its key moving averages and forming a base on the intraday charts and today there is a range breakout. Particularly, in the RSI if we see, it has crossed its previous swing high and trading above 60 zone, so Hero Moto can be bought in the near term, we expect targets of around 5,960 and for this trade setup stop loss can be kept at around 5,600,” he added.Meanwhile, sentiment around Hindustan Unilever (HUL) has turned cautious following its recent results, with the stock under pressure. Bhosale said the technical setup suggests continued weakness unless key resistance levels are reclaimed.

“So, if we see, since last few weeks HUL was holding on to some gains but it was struggling to cross the 2,500 levels and the kind of formation we are seeing is bearish engulfing, so as of now the momentum can remain on the negative side. So, until the stock does not cross 2,500, one should wait. Once it crosses 2,500, we can see positive momentum. Until then, wait for it. If it dips back towards 2,250 to 2,300, that would be ideal to add or else wait for a price breakout above 2,500 levels,” he said.

Overall, while the Nifty remains range-bound, market experts suggest that selective stock picking could continue to offer opportunities even as the broader index consolidates near key technical levels.

The global business was spun out from Unilever in December and owns the largest ice cream factory in the West of England

The company behind the West of England’s biggest ice cream factory says it is looking to deliver “profitable growth” over the next financial year following a drop in profits.

The newly independent Magnum Ice Cream Company, which was spun out of Unilever in December, makes products including Viennetta and Cornetto at its plant in Gloucester where it employs some 500 staff.

In a set of results announced on Thursday (February 12), the business reported +4.2 per cent organic sales growth year-on-year for the 2025 financial year, against flat revenue of €7.9bn. Operating profit stood at €599m – down from €764 million in 2024 which the company said reflected separation and restructuring costs.

Magnum’s boss, Peter Ter Kulve, said the company expected between three per cent and five per cent organic sales growth along with underlying margin improvement over the coming year.

“We delivered a solid operational performance in 2025,” he said. “Our four leading brands, Magnum, Ben & Jerry’s, Cornetto and the Heartbrand, were the driving force behind our performance, with 150 new launches, including Magnum Utopia and Cornetto Max.

“Every region contributed to growth, with market share gains across most key markets, including the US, our largest market. Growth was supported by improved availability and operational rigour with our front-line first model. Through disciplined execution of our productivity programme, and select pricing actions, we mitigated the impact of elevated commodity inflation and continued to grow volume.”

In November, Magnum announced plans to invest £50m upgrading its factory in Gloucester. Founded in 1959, the site is the second-largest ice cream factory in Europe (behind Heppenheim, Germany). Every week, the facility produces nearly three million Calippos and two million Viennettas, in addition to one million Ben & Jerry’s tubs.

The upgrade plans include a complete rebuild of the factory’s mix plant and the installation of advanced blending systems as well as new high-speed production lines for products including Twister and Solero.

Unilever first announced its intention to spin off its Gloucestershire-based ice cream division in 2024 as part of a broader shake-up of its portfolio, moving away from food towards household and other consumer goods

Ford Motor Company has been overtaken in global vehicle sales for the first time by Chinese electric car giant BYD, underscoring the dramatic shift under way in the global automotive industry.

Ford’s sales slipped 2 per cent last year to just under 4.4 million vehicles, while BYD sold 4.6 million, climbing to sixth place in the global rankings of car manufacturers.

The milestone is symbolic for an industry shaped by Ford’s legacy. Founder Henry Ford revolutionised mass car ownership with the Model T in the early 20th century. More than a century later, the company that defined industrial car production is being outpaced by a Chinese electric vehicle specialist.

BYD’s growth has been driven by its expanding portfolio of affordable, high-tech electric and plug-in hybrid vehicles. Among its best sellers are the SEAL U DM-i and the Dolphin electric city car, priced at under £19,000 in some markets.

In contrast, Ford has scaled back lower-cost small cars in Europe, phasing out the Ford Fiesta during the pandemic and pivoting towards higher-margin SUVs and crossovers. Its entry-level Puma now starts at more than £26,000.

Ford’s sales in the US rose, but the company has lost ground in Europe and China — markets where electric competition is intensifying.

Felipe Munoz, an independent automotive analyst, said the trend was widely anticipated. “BYD is still in expansion mode. Even if sales in China slow, it’s relying on exports to grow,” he said.

“Ford, meanwhile, remains heavily dependent on the US, where growth is modest, and has only a minor presence in China. Europe is also stagnant. This divergence is likely to continue.”

Western carmakers, including Ford, have struggled to navigate the electric vehicle transition. In December, Ford took a $19.5bn (£14bn) charge to scale back EV production, citing weaker-than-expected demand.

Munoz said Ford’s electrification strategy was complicated by its exposure to North America. “North American consumers are not enthusiastic about electric cars, and government support has been inconsistent,” he said.

Ford has attempted to regain a foothold in China through a joint venture with Jiangling Motors, launching an all-electric version of its Bronco SUV. However, its Chinese market share has fallen from nearly 5 per cent a decade ago to less than 2 per cent today.

“Let’s see how the Bronco Electric performs,” Munoz said. “But so far, nothing significant has changed.”

Despite global challenges, Ford remains Britain’s third-largest car brand. According to the Society of Motor Manufacturers and Traders, it sold about 119,000 vehicles in the UK in 2025, representing a 5.9 per cent market share, an 8 per cent increase on the previous year.

BYD, while still smaller in the UK, is growing rapidly. It sold around 51,400 cars last year, achieving a 2.5 per cent market share, but with sales rising almost sixfold.

At the top of the global league table, Toyota retained its crown for the sixth consecutive year with sales of 11.3 million vehicles.

For Ford and other Western manufacturers, BYD’s ascent signals more than just a ranking shift, it reflects a deeper rebalancing of power in an industry increasingly defined by electrification, cost efficiency and Chinese technological ambition.

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Chinese regulators have suggested that financial institutions reduce their holdings of U.S. Treasury bonds, citing concerns over concentrated risks. This move aims to lessen reliance on U.S. debt and enhance the stability of the financial system.

China has issued a warning to its financial institutions to tighten their holdings of US Treasuries amid escalating concerns over economic and geopolitical tensions. The move signals China’s intent to reduce its reliance on American debt instruments, which have been a significant element of its foreign exchange reserves. By warning banks to limit their holdings, Beijing aims to mitigate potential risks associated with US economic instability and political uncertainties.

This directive also reflects China’s broader strategy to diversify its foreign reserves and reduce exposure to US financial assets. As tensions over trade, technology, and geopolitics rise, China’s cautious stance is designed to protect its economic interests and maintain stability within its financial sector. The government’s measures could lead to a shift in global bond markets, impacting US Treasury yields and investor strategies worldwide.

Overall, China’s warning signals a shift towards more cautious financial management in response to international developments. While the country continues to hold significant amounts of US Treasuries, it appears increasingly intent on balancing its reserves to safeguard against potential economic disruptions. This move may have lasting implications for global financial dynamics and US-China relations.

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The craft brewer said it had experienced its best-ever Christmas trading period

South West pub operator and craft brewer Butcombe says it has delivered an “exceptional sales performance” in its first full year trading under its new brand name. The Wrington-based group – formerly known as Liberation – said its investment in its estate, particularly its accommodation, had helped it outperform the broader market over the 12 months to the end of January.

The business reported like-for-like growth of eight per cent across its managed pub division including drink at 10.1 per cent, food at 6.5 per cent and accommodation 5.3 per cent.

Meanwhile, UK Butcombe Pubs & Inns delivered 9.7 per cent like-for-like growth, and Channels Islands Liberation Pubs & Bars performed at 3.5 per cent like-for-like.

Butcombe said “strong demand” for its premium room offering – Butcombe Boutique Inns – had encouraged the business to add the Welldiggers Arms, in Petworth, to its portfolio, bringing the total number of boutique venues up to 12. It also announced plans to further expand the number of Boutique Inns over the coming financial year.

The group was also boosted by a record festive trading period for its managed pub estate, achieving like-for-like sales at 14.4 per cent over the Christmas and New Year fortnight, delivering the group’s record highest-week ever and highest-ever day on Christmas Day. Meanwhile, Butcombe’s UK tenanted business achieved sales growth of 25.2 per cent over the same period.

The rapid growth of no and low alcohol brands, including Butcombe’s award-winning non-alcoholic Goram IPA Zero, was also a driver in the growth of the drinks arm of the business, with the category up 63.9 per cent for the year.

Jonathan Lawson, chief executive of Butcombe Group, said: “I am delighted to report such strong results and once again I must start with a massive thank you to our amazing teams in the UK and Channel Islands who are at the heart of everything we do and are passionate about delivering the highest standards of service to our customers.

“To culminate with a record-breaking Christmas with sector leading LFL’s against tough comparatives last year is incredibly satisfying and demonstrates the strength of our business and the growing loyalty of our customers.”

He added: “As we look ahead, we remain confident that we are well positioned to sustain growth thanks to our brilliant pubs in ideal locations and unmatched guest experience.”

The chief constable of Norfolk Police has called for tougher and faster punishments for repeat shoplifters, warning that persistent offenders are not being deterred by the current system.

Paul Sanford said shoplifting was one of the few crimes in the county that continued to rise, and expressed frustration at delays in the courts.

Speaking on BBC Radio Norfolk, Sanford said: “There’s big delays in our court system and I will share my frustration that sometimes I don’t think these persistent offenders are getting the deterrent sentence they need.

“We do have a problem with repeat offenders coming back to stores time and time again and we do need some concerted effort to tackle them and stop their offending.”

According to the Office for National Statistics, 6,382 shoplifting offences were reported to Norfolk Police in the 12 months to June 2025, up from 5,211 in the previous year.

Sanford revealed that the force had recently dealt with a man who admitted 23 counts of shoplifting, a woman in Breckland arrested 43 times since 2022, and a Norwich offender arrested 25 times in the past 20 months.

“We’re catching them, we need the rest of the system to catch up,” he said.

Sanford said the government’s ongoing sentencing review was “critically important”, arguing that chronic backlogs in the courts were undermining efforts to curb repeat offending.

“When theft is accompanied by violence, threats or intimidation, we will come down hard,” he added. “But we need the court system to move faster.”

The force has been using CCTV as a primary source of evidence in shoplifting cases, alongside facial recognition technology to identify suspects. For the most prolific offenders, Norfolk Police has applied for criminal behaviour orders, enabling courts to ban individuals from specific town centres or retail areas.

Sanford also pointed to the resale of stolen goods, including bulk thefts from supermarkets, as a continuing driver of offending.

Retailers have reported sustained losses from shop theft in recent years, with staff often facing abuse and intimidation. Sanford said he had the “utmost sympathy” for shop workers dealing with repeat offenders.

Norfolk Police has advised retailers to strengthen security by maintaining visible customer service presence, mapping theft hotspots within stores, training staff to identify suspicious behaviour and ensuring shop floors are kept tidy to reduce opportunities for concealment.

A spokesperson for the Ministry of Justice said reforms were under way to speed up justice and strengthen community-based penalties. “We now have new laws giving tougher community restrictions, including the biggest ever expansion in tagging and the use of restriction zones,” they said.

The ministry added that investment and procedural reforms were being introduced to modernise the courts and tackle inefficiencies.

For police forces such as Norfolk, however, the message is clear: without swifter sentencing and stronger deterrents, repeat shoplifting is likely to remain a stubborn and rising challenge on the High Street.

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