Key Events This Week
23 Feb: Stock opens at Rs.156.70, down 1.32% amid Sensex gains
24 Feb: Sharp open interest surge by 32.67%, stock rebounds +2.27%
25 Feb: New 52-week high at Rs.167.15, exceptional volume surge
26 Feb: Modest gain of 0.36%, sustained technical strength
27 Feb: New 52-week high at Rs.167.80, closes at Rs.166.00 (+0.30%)
23 February 2026: Weak Start Amid Broader Market Strength
SAIL opened the week at Rs.156.70, down 1.32% from the previous close, while the Sensex gained 0.39% to close at 36,817.86. The stock faced selling pressure early in the week, with volume at 661,863 shares. Despite the decline, the stock remained above key moving averages, signalling underlying technical support. Delivery volumes surged by over 50% compared to the five-day average, indicating genuine investor interest despite the price dip.
24 February 2026: Sharp Open Interest Surge Fuels Rebound
On 24 February, SAIL witnessed a significant surge in derivatives open interest, rising 32.67% to 66,235 contracts. This increase was accompanied by a strong volume of 3,884,725 shares and a 2.27% price gain to Rs.160.25, outperforming the Sensex which declined 0.78%. The futures and options segments saw substantial notional values, reflecting active market participation and bullish positioning. The stock traded near its 52-week high, supported by strong technical indicators and rising delivery volumes, which surged to 2.11 crore shares on 24 February, a 259% increase over the five-day average.
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25 February 2026: New 52-Week High and Exceptional Trading Activity
SAIL hit a new 52-week high of Rs.167.15 on 25 February, marking a 3.65% gain on the day and a cumulative 5.78% return over two sessions. The stock recorded a remarkable volume of 1.49 crore shares, with a traded value of ₹243.4 crores, placing it among the most actively traded stocks by value and volume. This surge was supported by a mojo grade upgrade to Hold and a mojo score of 65.0, reflecting improved fundamentals and market sentiment. The stock outperformed the ferrous metals sector by 1.87% and the Sensex by 3.02%, underscoring its leadership within the sector. Open interest in derivatives also rose sharply by 30.74%, signalling strong bullish momentum and fresh positioning by traders.
26 February 2026: Sustained Gains Amid Mixed Market Signals
On 26 February, SAIL continued its upward trajectory, gaining 0.36% to close at Rs.165.50. The stock maintained its position above all key moving averages, confirming a sustained uptrend. Trading volume moderated to 1.63 million shares, while the Sensex rose modestly by 0.19%. Despite a 24% decline in delivery volumes compared to the five-day average, the stock’s liquidity remained robust, supporting sizeable institutional trades. The mixed volume signals suggest some profit booking but overall accumulation, consistent with the Hold mojo rating.
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27 February 2026: New 52-Week High Amidst Market Headwinds
SAIL reached a fresh 52-week high of Rs.167.80 on 27 February, closing at Rs.166.00 with a 0.30% gain. This marked the fourth consecutive day of gains, delivering a cumulative 6.54% return over the period. The stock outperformed the ferrous metals sector, which declined 0.18%, and the Sensex, which fell 0.54%. Trading volume surged to 7.26 million shares, with a traded value of ₹121.06 crores, highlighting strong market interest. Despite a 24% drop in delivery volumes, the stock’s liquidity profile remains attractive for institutional investors. The mojo score of 65.0 and Hold rating reflect a balanced outlook amid sectoral cyclicality and global commodity price volatility.
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-02-23 | Rs.156.70 | -1.32% | 36,817.86 | +0.39% |
| 2026-02-24 | Rs.160.25 | +2.27% | 36,530.09 | -0.78% |
| 2026-02-25 | Rs.164.90 | +2.90% | 36,679.75 | +0.41% |
| 2026-02-26 | Rs.165.50 | +0.36% | 36,748.49 | +0.19% |
| 2026-02-27 | Rs.166.00 | +0.30% | 36,322.56 | -1.16% |
Key Takeaways
Strong Price Momentum: SAIL’s 4.53% weekly gain and multiple 52-week highs reflect robust buying interest and technical strength, supported by trading above all major moving averages.
Derivatives Market Activity: Sharp surges in open interest and volume in futures and options indicate growing bullish positioning and fresh capital inflows, signalling confidence among institutional and retail traders.
Exceptional Trading Volumes: The stock consistently ranked among the most actively traded by value and volume, with delivery volumes spiking over 250% on key days, suggesting genuine accumulation rather than speculative trading.
Sector Outperformance: SAIL outpaced the ferrous metals sector and the broader Sensex throughout the week, highlighting its relative strength amid mixed market conditions and sectoral headwinds.
Balanced Outlook: Despite positive momentum, the Hold mojo grade and moderate mojo score of 65.0 advise caution due to sector cyclicality, commodity price volatility, and global trade uncertainties.
Conclusion
Steel Authority Of India Ltd’s performance during the week of 23–27 February 2026 was marked by strong price appreciation, technical resilience, and heightened market participation. The stock’s ability to hit new 52-week highs amid a volatile broader market and outperform both its sector and the Sensex underscores its leadership position in the ferrous metals industry. The surge in derivatives open interest and exceptional trading volumes reflect growing investor conviction and accumulation. However, the Hold mojo rating and mixed delivery volume trends suggest that investors should remain vigilant to sector-specific risks and broader macroeconomic factors. Overall, SAIL’s recent activity signals a positive phase of momentum and accumulation, making it a key stock to watch in the mid-cap industrial space.
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