Equity markets faced a volatile week ending **February 20, 2026**, characterized by a sharp intraday reversal that erased early gains and sparked intense debate over potential long-term weakness. The volatility peaked on Thursday as the **BSE Sensex** plummeted **1,236 points** to close at **82,498.14**, while the **Nifty 50** dropped **365 points**, sliding below the critical **25,500** level to settle at **25,454.35**. Geopolitical tensions between the U.S. and Iran, combined with a spike in global crude oil prices to **$72 per barrel**, triggered aggressive profit booking. Investor wealth saw a massive erosion of approximately **₹7.5 lakh crore** in a single session, as the **India VIX** surged over **10%** to reflect heightened fear. Despite the immediate correction, the underlying fundamental outlook remains constructive. Corporate India reported a robust **18% year-on-year** profit growth for the latest quarter, marking the fourth consecutive period of double-digit gains. Sectoral performance highlights a "seesaw" phase. While IT and Realty faced pressure, market experts like **Rahul Shah** emphasize that the **BFSI** sector continues to exhibit strength backed by double-digit credit growth and stable asset quality. The **Metals** sector is positioned for a pickup as steel demand stabilizes, while **Consumption**, **Autos**, and **Cement** maintain positive momentum. Cement manufacturers specifically are projected to see operating profits rise between **12% and 18%** throughout **2026**, driven by government infrastructure spending. Investors are advised to utilize these dips for selective accumulation of **largecap stocks** where valuations remain fair. In contrast, the broader market shows signs of froth, with many small and mid-cap names trading at expensive multiples. The focus now shifts to global triggers and the potential for a bounce-back if West Asian tensions de-escalate, allowing markets to realign with India's strong **7% GDP** growth trajectory.