Indian equity benchmarks staged a resilient recovery on February 20, 2026, as the **Sensex** climbed **316.57 points** (0.38%) to settle at **82,814.71**. The **Nifty 50** followed suit, advancing **116.90 points** (0.46%) to close at **25,571.25**. This rebound successfully recouped a portion of the steep losses witnessed in the previous session. Market sentiment was bolstered by India's formal entry into the **Pax Silica alliance**, a strategic U.S.-led coalition focused on securing critical mineral and AI supply chains. This development triggered significant buying interest in mining and metal stocks. Corporate Spotlight: Novartis India Shares of **Novartis India** dominated the session, surging **20%** to hit an intraday high of **₹996.50** before closing near the upper circuit. The rally was ignited by the announcement that its Swiss parent, **Novartis AG**, will sell its entire **70.68% stake** for approximately **₹1,446 crore**. The stake is being acquired by a consortium including **WaveRise Investments**, **ChrysCapital**, and **Two Infinity Partners**. This transaction has triggered a mandatory open offer for an additional **26%** of public shares at a price of **₹860.64 per share**. As part of the transition, the company will remove all "Novartis" branding within **120 days**. Resource Sector: GMDC Performance **Gujarat Mineral Development Corporation (GMDC)** saw its share price rise by **3.5%**, closing at **₹580.70**. Investors reacted positively to the Pax Silica news, which positions GMDC as a critical player in India's contribution of rare earths and strategic minerals to the global AI hardware market. The stock reached an intraday high of **₹585.75**, supported by heavy trading volumes exceeding **4 million shares**. The company’s valuation remains in focus as the market anticipates long-term gains from enhanced supply-chain security. Broader Market Trends The recovery was broad-based, with **13 of the 15** NSE sectoral indices ending in the green. **PSU Banks** and **Metals** led the charge, gaining **1.7%** and **1.2%** respectively. Large-cap heavyweights like **NTPC** (up 2.6%) and **Larsen & Toubro** (up 2.3%) provided the necessary weight to lift the indices. Conversely, the **IT sector** remained a laggard, dropping **1%** amid ongoing global caution. Major IT firms like **Infosys** and **Tech Mahindra** featured among the top losers. In the broader market, the **BSE MidCap** index gained **1.6%**, while the **SmallCap** index ended **2.5%** higher, reflecting a shift toward value buying in mid-tier stocks after recent corrections. Volatility remained elevated as the **India VIX** stayed sensitive to geopolitical developments between the U.S. and Iran. However, domestic institutional support and positive manufacturing data provided a necessary floor for the day's trade.