Stock market news: Stock markets witnessed a strong rebound on Friday, with the benchmark Sensex closing up by 316 points, driven by substantial buying in banking and metal shares. This surge reflects growing optimism regarding progress on a trade deal and India’s proactive involvement in Pax Silica.
The 30-share BSE Sensex surged 316.57 points, or 0.38%, finishing at 82,814.71. At one point during the day, it soared by 633.94 points, or 0.76%, reaching an impressive intraday high of 83,132.08.
The Nifty 50 also made significant gains, advancing 116.90 points, or 0.46%, to close at 25,571.25. Out of its components, 36 ended in the positive territory, while only 14 closed in the red. During intraday trading, it jumped by 209.2 points, or 0.82%, peaking at 25,663.55.
In stark contrast, on Thursday, the Sensex plummeted by 1,236.11 points, and the Nifty 50 fell 365 points, closing near 25,450 due to widespread selling by investors in light of escalating geopolitical tensions.
Over the week, the 30-share BSE Sensex achieved a solid increase of 187.95 points, or 0.22%, while the Nifty 50 climbed by 100.15 points, or 0.39%. The markets are clearly regaining strength.
Market Outlook by Dharmesh Shah, Vice President, ICICI Securities
- Indian equities closed the week the on flat note, with Nifty 50 settling at 25,571, up 0.4%, despite navigating global as well as geopolitical uncertainties. Broader market underperformed the benchmark as Nifty midcap, small cap remained unchanged. Sectorally, PSUs bank, Energy, PSU remained in limelight wherein Nifty IT, Auto were the top losers for the week.
- Index began the week with a strong three-day rally; however, mid-week turbulence on geopolitical jitters fueled the volatility in the market. Consequently, weekly price action formed a small bull candle with upper shadow, indicating breather over second week in a row.
- Going ahead, we expect prolongation of ongoing consolidation in the broader range of 26,000-25,200 while sailing through global, geopolitical volatility. Key point to highlight is that, over past 13 sessions index has retraced merely 50% of preceding two sessions up move seen during early February, highlighting slower pace of retracement.
- This measured pullback, indicating that the ongoing decline is more of a time-wise consolidation rather than a reversal of the prevailing uptrend which would make market healthy and provide launchpad to challenge All time high (26,350) in coming month.
- Hence, any decline from current level should be used to build a quality portfolio wherein focus should be on accumulating key beneficiaries of trade deal of India with US & European Union. In the process, strong support is placed around 25,200 being 200-day EMA coincided with 61.8% retracement of recent up move (24,572-26,341).
- Mirroring the benchmark move, Nifty midcap, smallcap indices underwent healthy consolidation after bouncing back from their key support zone. The current up move is backed by the improvement in the market breadth as currently 45% of stocks of Nifty 500 universe are sustaining above their 50-day SMA compared to early Feb reading of 20%. Such improvement in the market breadth warrants broadening of rally going ahead.
- The Brent crude oil would be the key monitorable going forward amidst renewed geopolitical tension, that pulled it around falling resistance trendline placed at $72 range. A decisive close above $72 would fuel the momentum for next leg of up move that can add pressure on emerging markets like India.
Stocks To Buy This Week – Dharmesh Shah
Dharmesh Shah of ICICI Securities recommends buying Bharat Electronics Ltd (BEL), and Tata Steel Ltd.
1. Buy BEL in the range of ₹425-441. He said BEL share price target of ₹484 with a stop loss of ₹398.
2. Buy Tata Steel in the range of ₹200-208. He said Tata Steel share price target of ₹228 with a stop loss of ₹190.
Disclaimer: The Research Analyst or his relatives or I-Sec do not have actual/beneficial ownership of 1% or more securities of the subject company, at the end of 20/02/2026 or have no other financial interest and do not have any material conflict of interest.
The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
