The market staged a strong rebound on February 20, recovering a portion of the previous session’s losses, with the Nifty closing above 25,550, supported by broad-based buying across sectors, except IT stocks.
After a subdued start amid rising US–Iran geopolitical tensions, higher crude prices, and weakness in IT shares, the indices bounced back in early trade. The rally gathered momentum as the session progressed, pushing the Nifty to an intraday high of 25,663.55 before ending the day with solid gains, despite last-hour profit booking.
At close, the Sensex was up 316.57 points or 0.38 percent at 82,814.71, and the Nifty was up 116.90 points or 0.46 percent at 25,571.25.
Broader indices were mixed, as the Nifty Midcap index gained 0.5 percent, whereas the Smallcap index closed slightly in the red.
On a weekly basis, the BSE Sensex and Nifty50 posted marginal gains.
Also Read - Nifty 50 December quarter profit falls 8.1% YoY; revenue growth turns double-digit
Hindalco Industries, NTPC, SBI Life, L&T, Coal India were among major gainers on the Nifty, while losers were Infosys, Tech Mahindra, Eternal, HCL Technologies and Grasim Industries.
Except IT (down 1%) and media, all other indices ended in the green with power, metal, capital goods, PSU Bank up 1-2%.
| Index | Prices | Change | Change% |
|---|---|---|---|
| Sensex | 76,034.42 | -829.29 | -1.08% |
| Nifty 50 | 23,639.15 | -227.70 | -0.95% |
| Nifty Bank | 55,100.95 | -634.80 | -1.14% |
| Biggest Gainer | Prices | Change | Change% |
|---|---|---|---|
| Coal India | 470.10 | 23.35 | +5.23% |
| Biggest Loser | Prices | Change | Change% |
|---|---|---|---|
| M&M | 3,031.20 | -137.00 | -4.32% |
| Best Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty Energy | 36834.35 | 695.85 | +1.93% |
| Worst Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty Auto | 25098.00 | -828.00 | -3.19% |
Also Read - Nifty 50 December quarter profit falls 8.1% YoY; revenue growth turns double-digit
In stock specific action, RPP Infra Projects shares added 6% on receiving work order of Rs 205 crore, Novartis India shares surged 20% as promoter to sell 70.68% stake, ABB India shares jumped 5% as Q4CY25 consolidated revenue rises, CIE Automotive India shares gained 1.7% on better Q4CY25 earnings.
Lenskart Solutions share price rose 1.5% after Motilal Oswal Securities initiates 'buy' rating, Pace Digitek share price added 3% on order win worth Rs 89 crore, DEE Development shares rose 13% on order win worth USD 40 million, Artson shares added 5% on winning order from Reliance Industries.
More than 200 stocks touched their 52-week low, including Firstsource Solutions, Ola Electric, Clean Science, Hexaware Technologies, Just Dial, Suzlon Energy, Bata India, Cello World, Poly Medicure, Info Edge, Concord Biotech, Zensar Technologies, LT Technology, Mankind Pharma, C. E. Info, AWL Agri, Wipro, KEC International, Vedant Fashions, among others. Click to View More
Outlook for February 23
Vinod Nair, Head of Research, Geojit Investments
Indian equities rebounded after yesterday’s sharp correction, led by strong buying in large caps as investors favoured their better risk reward over premium valued midcaps. Sentiment improved on clearer trade agreement signals and India’s entry into Pax Silica, which is expected to strengthen supply chain security in AI, semiconductors, and critical minerals.
Banking and metal stocks drove the recovery, while IT lagged. Volatility stayed elevated, with the India VIX spiking even as geopolitical tensions still linger. Softer inflation data from Japan supported expectations of accommodative global policy. Structurally, markets remain constructive, though near term moves are likely to stay flow driven amid global uncertainties, keeping the buy on dips, sell on rallies trend intact.
Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities
After witnessing a massive fall on the back of rising geo-political tension on Thursday, Nifty tried to recover from the lows amidst volatility on Friday and closed the day higher by 116 points. After bouncing back from the opening weakness on Friday, the market was not able to sustain above the hurdle of 25650 levels in the mid to later part of the session.
A reasonable positive candle has been formed on the daily chart with upper shadow. This is signaling an attempt of bounce back from the lows. Nifty has failed to show follow-through weakness after a 1or 2 sessions sharp declines in the recent few occasions and Friday's bounce back could be one of these instances. Hence, one may expect some more upside in the short term.
Nifty is currently placed at the key support of around 25400 as per role reversal and a sustainable upmove above the hurdle of 25650-25700 levels could open another round of relief rally in the market.
Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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