Bharti Airtel Declines 4.95% Amid Mixed Signals and High Derivatives Activity

23 February 2026: Open Interest Surge Amid Mixed Technical Signals

Bharti Airtel began the week on a positive note, gaining 0.98% to close at Rs.1,997.15, outperforming the Sensex’s 0.39% rise. The derivatives market saw a significant 13.7% increase in open interest, with futures and options contracts rising to 179,604. This surge, alongside a notional futures value of approximately ₹4,17,481 lakhs and options value of ₹55,082.3 crores, indicated heightened investor activity and positioning.

Technically, the stock remained above its 200-day moving average but below shorter-term averages, reflecting a complex technical backdrop. Delivery volumes rose sharply by 53.15% compared to the five-day average, signalling stronger buyer conviction. The combination of rising open interest and volume suggested fresh capital entering the market, with traders cautiously optimistic about a potential upward move.

24 February 2026: Price Pressure and Sectoral Weakness Weigh on Shares

On 24 February, Bharti Airtel’s shares fell sharply by 2.83%, closing at Rs.1,940.70, with an intraday low of Rs.1,921.65. This decline outpaced the Sensex’s 0.78% fall and aligned with a 2.49% drop in the telecom sector, reflecting sector-wide headwinds. The stock traded below all key moving averages, signalling sustained bearish momentum.

Despite the price weakness, open interest surged again by 13.6% to 176,781 contracts, accompanied by a high derivatives turnover of ₹3,18,261 lakhs. The weighted average price of traded contracts clustered near the day’s lows, indicating bearish positioning. Delivery volumes increased by 8.95%, suggesting accumulation by longer-term investors amid short-term volatility.

Institutional interest remained robust, with the stock among the most actively traded by value, recording a turnover of approximately ₹264.5 crores. The mixed signals of rising open interest amid falling prices pointed to new short positions being established, reflecting caution in the market.

25 February 2026: High-Value Trading Amid Technical Momentum Shift

Bharti Airtel continued to face selling pressure on 25 February, with the stock closing at Rs.1,913.65, down 1.39%. Despite the decline, the stock was among the most actively traded by value, with a turnover exceeding ₹461 crore and a volume of over 23.7 lakh shares. Delivery volumes surged by 167.08%, indicating strong institutional participation.

Technical indicators showed a shift from mildly bullish to sideways momentum, with the MACD and KST oscillators turning mildly bearish on weekly and monthly charts. The stock remained below all major moving averages, signalling a bearish trend in the short to medium term. The Relative Strength Index (RSI) was neutral, reflecting indecision among investors.

While the broader Sensex gained 0.41% on the day, Bharti Airtel underperformed, highlighting sector-specific challenges. The stock’s Mojo Score was 58.0 with a Hold rating, downgraded from Buy in December 2025, reflecting cautious analyst sentiment amid volatility and sector headwinds.

26 February 2026: Narrow Price Range and Institutional Interest

On 26 February, Bharti Airtel posted a modest gain of 0.78%, closing at Rs.1,928.50. The stock traded within a narrow intraday range of Rs.15.6, suggesting consolidation after two days of decline. Institutional interest remained strong, with delivery volumes rising 129.54% to 67.18 lakh shares and a traded value of nearly ₹399 crore.

Despite the gain, the stock underperformed the telecom sector’s 0.69% rise and remained below all key moving averages. This technical positioning indicated ongoing resistance and a cautious outlook. The market capitalisation stood at approximately ₹10,91,212 crore, underscoring the company’s large-cap status and liquidity.

27 February 2026: Sector Underperformance and Bearish Momentum

The week closed with Bharti Airtel’s shares falling 2.53% on 27 February to Rs.1,879.75, underperforming both the telecom sector’s 1.11% decline and the Sensex’s 0.54% fall. The stock traded within a range of Rs.1,890.1 to Rs.1,915.0, reflecting cautious investor sentiment amid broader market pressures.

Technical indicators remained bearish, with the stock below all key moving averages and facing resistance at multiple levels. Delivery volumes increased by 49.9% to 60.1 lakh shares, signalling continued institutional interest despite price weakness. The company’s market capitalisation was approximately ₹10,99,651 crore, maintaining its large-cap status.

The Mojo Score of 58.0 and Hold rating reflect a cautious stance amid near-term risks and sector challenges. Investors are advised to monitor upcoming earnings and regulatory developments closely to reassess the stock’s outlook.

Daily Price Comparison: Bharti Airtel Ltd vs Sensex

Key Takeaways

Positive Signals: Despite the weekly decline, Bharti Airtel demonstrated robust institutional interest, with delivery volumes rising significantly throughout the week. The stock’s large market capitalisation and liquidity support sizeable trades, making it a key telecom sector bellwether. The modest price gains on 23 and 26 February indicate potential consolidation phases amid volatility.

Cautionary Signals: The stock consistently traded below all major moving averages, signalling bearish momentum and resistance. The surge in open interest amid falling prices on 24 February suggests increased short positioning. The downgrade from Buy to Hold and a Mojo Score of 58.0 reflect tempered analyst sentiment. Sectoral headwinds and broader market weakness contributed to the underperformance relative to the Sensex.

Conclusion

Bharti Airtel Ltd’s week was marked by significant volatility, with a 4.95% decline contrasting with the Sensex’s 0.96% fall. The stock’s derivatives market activity revealed heightened investor positioning, with open interest surging amid mixed technical signals. Institutional participation remained strong, as evidenced by rising delivery volumes and high-value trading, underscoring the stock’s importance in the telecom sector.

However, persistent trading below key moving averages and bearish momentum indicators suggest caution in the near term. The Hold rating and Mojo Score of 58.0 reflect a balanced view, acknowledging both the company’s fundamental strengths and the challenges posed by sectoral pressures and technical resistance. Investors should monitor price action around critical support levels and sector developments to gauge the stock’s next directional move.

Only Rs. 9,999 - Get MojoOne for 1 Year + 3 Months FREE (60% Off) Start Today