Market Brief: Indian Equities Face Sharp Correction The Indian benchmark indices experienced a significant downturn on Thursday, February 19, 2026, snapping a three-day winning streak. A wave of aggressive profit-taking combined with a risk-off sentiment led to a broad-based sell-off across almost all sectors. The **S&P BSE Sensex** plummeted **1,236 points**, or **1.48%**, to close at **82,498.14**. Simultaneously, the **Nifty 50** dropped **365 points**, or **1.41%**, ending the session at **25,454.35**. This single-day decline wiped out approximately **Rs 7.5 lakh crore** in investor wealth. Key Market Drivers The sharp decline was triggered by escalating geopolitical tensions between the U.S. and Iran, which caused global crude oil prices to spike. Uncertainty regarding the U.S. Federal Reserve's interest rate trajectory also weighed heavily on investor sentiment following the release of recent meeting minutes. Market volatility, as measured by the **India VIX**, surged by **10.12%** to reach **13.46**. The broader market mirrored the benchmarks, with the **BSE MidCap** and **SmallCap** indices falling **1.54%** and **1.16%** respectively. Corporate Highlights and Stock Moves **Hindustan Unilever Limited (HUL)** The FMCG major announced a massive investment of **Rs 2,000 crore** over the next two years. This capital is earmarked for expanding manufacturing capacity in premium categories, specifically within Beauty & Wellbeing and Home Care liquids. Despite the market carnage, HUL shares showed resilience earlier in the week, closing at **Rs 2,323.50**. **ICICI Prudential Life Insurance** The insurer is navigating significant tax-related developments. It received an appellate order upholding a tax demand of **Rs 984 crore** related to GST input tax credit reversals from 2017 to 2022. Additionally, a separate GST dispute for the 2018 fiscal year involving **Rs 216.44 crore** saw partial relief, though the company plans to appeal the remaining demand. **Federal Bank** The banking sector faced intense pressure during the session. While specific tax refund news for Federal Bank is being monitored by participants, the broader private banking space saw heavy selling. The **Nifty Bank** index ended the day at approximately **61,200**, down **0.6%**, slightly outperforming the wider market despite the bearish tone. Sectoral Performance Every major sectoral index on the NSE ended in the red. The **Realty** sector led the losses with a **2.5%** drop, followed by **Auto**, **FMCG**, and **Financial Services**, all declining by more than **1%**. Defensive sectors like **IT** provided a minor buffer early in the session, with heavyweights like Infosys and TCS seeing selective interest, though they eventually succumbed to the overarching market pressure. Outlook for February 20 Early indicators from the **GIFT Nifty** suggest a possible technical pullback, with futures trading slightly higher by **0.06%** at **25,844**. Global cues from Asia and Wall Street remain cautiously positive, which may support a modest recovery at the opening. Investors are expected to remain watchful of the **25,300** level for the Nifty 50, which serves as immediate support. Sustained trading below this mark could invite further weakness toward the **25,000** psychological barrier.