Indian equity markets faced a significant downturn on **February 19, 2026**, as escalating tensions between the United States and Iran triggered a wave of risk aversion. The benchmark **Nifty 50** plummeted **365 points**, or **1.41%**, to close at **25,454.35**. Simultaneously, the **S&P BSE Sensex** crashed **1,236 points**, ending the session at **82,498.14**. This sharp reversal wiped out approximately **₹7 lakh crore** in investor wealth in a single day. The primary catalyst for the sell-off was the breakdown in diplomatic negotiations, with US officials warning that military options remain on the table. This geopolitical friction sent **Brent crude** prices surging toward **$70.53 per barrel**, raising concerns about imported inflation and fiscal pressure for India. Consequently, the **India VIX** spiked by **7.40%** to reach **13.13**, signaling a sharp rise in market nervousness and the potential for continued volatility. Sectoral performance was almost entirely negative, with all 16 NSE sectoral indices ending in the red. The **Auto** sector was among the hardest hit, with **Mahindra & Mahindra** falling **2.93%**. **Aviation** and **Cement** also saw heavy liquidations; **IndiGo** dropped **3.28%** while **UltraTech Cement** declined **2.97%**. Despite the broader gloom, **ONGC** bucked the trend to rise **3.65%**, benefiting from the spike in global oil prices. From a technical perspective, the Nifty has drifted toward its **20-day moving average** near the **25,300** zone. This level is now considered a crucial support floor. A breach below **25,200** could accelerate the correction toward the psychological handle of **25,000**. On the upside, immediate resistance is established at **25,600**, followed by a more significant supply wall at **25,800**. Market breadth was decisively bearish, with roughly **2,900** stocks declining against only **1,200** advances on the BSE. Foreign Institutional Investors (FIIs), who had shown interest earlier in the week, appeared to move to the sidelines as the "buy on dips" strategy was tested by the weight of global uncertainty. Mid-cap and small-cap indices mirrored the large-cap decline, falling **1.54%** and **1.16%** respectively, as valuations in those segments remain under scrutiny.