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Sensex and Nifty staged a sharp recovery from the day’s lows supported by broad-based buying across sectors, except for IT stocks
Sensex Today
Why Is The Share Market Rising Today? Benchmark indices Sensex and Nifty staged a sharp recovery from the day’s lows on February 20, supported by broad-based buying across sectors, except for IT stocks. By early afternoon, the Sensex had rebounded nearly 900 points from its intraday trough, while the Nifty hovered close to the 25,650 mark.
At 12:27 pm, the Sensex was trading higher by 614.33 points, or 0.74%, at 83,112.47. The Nifty gained 199.25 points, or 0.78%, to quote at 25,653.60.
Market breadth remained positive, with around 1,895 shares advancing, 1,750 declining, and 174 remaining unchanged. The Sensex had touched an intraday low of 82,206, while the Nifty fell to 25,379.75 earlier in the session before recovering sharply.
Here is the rewritten and properly structured version with clear sub-headers, retaining all details:
1. Value Buying Lifts Markets; Metals and Banks Lead
Markets witnessed value buying after the Sensex and Nifty had declined nearly 1.5% in the previous session. On February 20, metal and banking stocks spearheaded the recovery.
Among the top gainers in the Nifty 50 were state-run companies such as Coal India, Bharat Electronics, and Oil and Natural Gas Corporation, each rising around 2%. Shares of Titan Company, Larsen & Toubro, Hindustan Unilever, Hindalco Industries, and NTPC gained nearly 1% each.
On the other hand, IT stocks remained under pressure. Infosys, Tech Mahindra, Wipro, and HCL Technologies declined between 0.4% and 1%. Shares of Tata Consultancy Services opened lower but later pared early losses to trade 0.4% higher.
In the broader market, ABB India emerged as the top gainer in the Nifty 200, climbing over 4% after reporting nearly 6% year-on-year revenue growth to Rs 3,560 crore for the December quarter. However, its net profit declined 18% YoY to Rs 433 crore. Meanwhile, Godfrey Phillips India was the worst performer on the index, slipping more than 4%.
VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, said the spike in Brent crude to $72 reflects rising uncertainty in global markets. He noted that US President Donald Trump warning Iran of a 10–15 day deadline to strike a nuclear deal has kept markets on edge.
He added that while geopolitical tensions and weak IT stocks are dampeners, India’s strong macro fundamentals and improving Q3 corporate earnings provide support. Vijayakumar suggested that investors optimistic about a US-Iran resolution could use current weakness to accumulate quality stocks in banking and financials, autos, pharmaceuticals, hotels, capital goods and telecom.
The Nifty India Defence index rose over 1%, with most constituents trading higher. Data Patterns (India) gained more than 6%, contributing significantly to the index’s rise and ranking among the top gainers in the Nifty 500. Shares of Bharat Dynamics advanced nearly 3%, making it one of the top performers in the Nifty 200.
On Thursday, French President Emmanuel Macron said that France and India are set to jointly manufacture Rafale fighter jets and helicopters.
2. Positive Global Cues Support Sentiment
Wall Street futures traded marginally higher on February 20, even as President Donald Trump reiterated his 10–15 day deadline for Iran to agree to a nuclear deal, warning of “really bad things” otherwise.
Siddhartha Khemka, Head of Research (Wealth Management) at Motilal Oswal Financial Services, told Reuters that any escalation involving Iran could disrupt shipments through the Strait of Hormuz — a key oil transit route. This would be particularly negative for India, given its heavy dependence on crude imports from the region.
Khemka added that markets are likely to remain cautious in the near term due to geopolitical risks and the possibility of oil supply disruptions.
3. Key Technical Levels to Watch
According to Bajaj Broking, strong support for the Nifty is placed at 25,350. The 200-day EMA, positioned near 25,200, is seen as the next crucial short-term support level and could come under pressure if selling continues. Immediate downside supports are at 25,350 and 25,000. On the upside, resistance is seen at 25,650 and 25,720, where pullbacks may encounter selling pressure.
Anand James, Chief Market Strategist at Geojit Investments Limited, noted that while a slowdown near 25,900 was expected, the sharp selloff from that region was surprising. The formation of a bearish engulfing candlestick has effectively ended the recent uptrend. However, he believes the steep decline could allow a recovery towards 25,580. Alternatively, the Nifty may consolidate within the 25,450–25,180 range, with limited chances of a deeper fall during the session.
Naveen Vyas, Head of Family Office at Anand Rathi Global Finance, described the current move as a tactical bounce from the Nifty 50’s 200-day simple moving average (SMA) near 25,300.
He cautioned that markets remain vulnerable. If Brent crude rises above $75 per barrel and sustains those levels for a few months, Indian equities could face further pressure.
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February 20, 2026, 12:48 IST
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