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Despite escalating tensions between the US and Iran, bulls stepped in to support the Indian stock market on Friday, February 20, after it witnessed its worst single-day crash since the Union Budget in the previous session.

The support was largely led by financials, followed by metals and the FMCG sector, with the Nifty 50 eventually settling above the key 25,500 level at 25,570, 0.46% higher than the previous close. The S&P BSE Sensex finished the trade 0.37% higher at the 82,803 level.

Today's rebound also helped both indices close the week with gains of over 0.40%. Renewed buying was also seen in broader markets, with the Nifty Midcap 100 rising 0.32%, while the Nifty Smallcap 100 index closed with a modest decline of 0.13%.

On the geopolitical front, statements from the US and Iran indicate a potential escalation toward war in the Middle East.

US President Donald Trump warned Iran on Thursday that it must make a deal over its nuclear programme or “really bad things” would happen and set Tehran a deadline of 10 to 15 days to cooperate.

In response, Iran reportedly said it would retaliate against US bases in the region if attacked, which led to a strong rally in global crude oil prices.

Stocks from the capital goods space have seen a strong rise in demand, with Thermax, Apar Industries, Hitachi Energy India, KEI Industries, Siemens, and GE Vernova T&D India all rallying between 3% and 5%.

Meanwhile, investors reacted positively to ABB’s performance in the December quarter, pushing the stock to close 4.7% higher than the previous close at ₹5,987 apiece.

Passenger vehicle maker Hyundai Motor India also came under the bulls’ radar today, with the stock gaining 5.15% to ₹2,293, which is also its highest level in four weeks.

Following a rating upgrade to 'Add,' PB Fintech shares jumped 3.3% to ₹1,513 apiece, while keeping their bull run intact.

Transformers & Rectifiers rallied another 3.17% to ₹313, closing the week up 15.77%, marking its highest weekly gain in 2026.

PSU banks such as Canara Bank, Punjab National Bank, Union Bank of India, and Indian Bank jumped 3.2%, 2.8%, 2.4%, and 2%, respectively.

In the metal pack, Hindalco Industries strengthened 3.3% to ₹935 apiece. Others from the sector, including Jindal Stainless, Jindal Saw, and SAIL, all closed with gains of around 2%.

After remaining under pressure since its December quarter results, Brainbees Solutions saw a marginal recovery of 2.6% to ₹219.4 apiece, ending a four-day slide.

Tata Group stocks, including Tata Power Company, Voltas, Tata Investment Corp, and Tata Communications, also rallied between 2% and 2.5%

(more to come)

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