Closing Bell: Nifty 50 Jumps 1.78%, Sensex Surges 1,372 Points; Small-Cap & Mid-Cap Indices Jumped Over 2%

Market Update at 04:15 PM: On Tuesday, March 24, India’s benchmark indices, the Nifty 50 and the Sensex, ended in positive territory, surging by over 1.5 per cent. Indian equities joined a fragile global relief rally after U.S. President Donald Trump postponed the bombing of Iran's power grid, easing fears of a deeper energy shock.

The benchmark Nifty 50 opened with a strong gap-up of 365 points but pared some of its gains in the early session. However, buying momentum picked up in the second half, helping the index rebound sharply and close near the 22,900 mark.

At the close, the Nifty 50 rose by 399.75 points, or 1.78 per cent, to settle at 22,912.40. The Sensex advanced by 1,372.07 points, or 1.89 per cent, ending at 74,068.46. The Bank Nifty index jumped 2.27 per cent to close at 52,605.65, while the India VIX declined by 7.44 per cent, ending below the 25 level.

The improvement in sentiment followed geopolitical developments, as the U.S. delayed its planned strike on Iran’s power grid. However, Iran denied engaging in negotiations with the U.S., which continued to cap overall market sentiment.

In the currency market, the Indian rupee strengthened to 93.79 against the USD, supported by a retreat in crude oil prices as traders monitored developments related to the Iran conflict.

Crude oil prices remained below the USD 100 per barrel mark. Brent crude futures rose 1.3 per cent to USD 98 per barrel, recovering part of their previous 10 per cent decline, while U.S. crude gained 1.7 per cent to USD 90.7 per barrel.

On the sectoral front, all 11 key sectoral indices ended in positive territory, reflecting broad-based buying. The broader markets also performed strongly, with the Nifty Midcap and Nifty Smallcap 100 indices rising 2.6 per cent and 2.63 per cent, respectively.

The Nifty Media index emerged as the top gainer, surging 3.45 per cent and fully recovering its previous session losses. This was followed by gains of over 2 per cent each in the Nifty Auto, Nifty Bank, and Nifty Financial Services indices. In comparison, the Nifty Energy index lagged, rising just 0.7 per cent, while other sectoral indices gained between 0 per cent and 1 per cent.

Among stock-specific movements, HDFC Bank rose 2.79 per cent after appointing external law firms to review the resignation letter of former part-time chairman Atanu Chakraborty. The stock had declined 11.7 per cent over the previous three sessions following his abrupt exit.

Olectra Greentech and JBM Auto gained 4.53 per cent and 5.83 per cent, respectively, while Ashok Leyland advanced 3.18 per cent after the government announced plans to deploy 10,000 air-conditioned e-buses across 116 cities by the end of 2027.

In terms of index contribution, HDFC Bank led the gains with 69.55 points, followed by Larsen & Toubro at 44.88 points and ICICI Bank at 44.62 points. On the downside, Coal India dragged the index by 6.54 points, followed by Power Grid Corporation of India at 3.06 points and Sun Pharmaceutical Industries at 1.21 points.

Market breadth remained firmly positive. Out of 3,371 stocks traded on the NSE, 2,483 advanced, 809 declined, and 79 remained unchanged. A total of 14 stocks touched their 52-week highs, while 413 hit their 52-week lows. Additionally, 87 stocks were locked in Upper Circuits, whereas 100 stocks were locked in Lower Circuits.

Market Update at 2:38 PM: India’s benchmark indices, the Nifty 50 and the Sensex, were trading near the day’s high levels, supported by gains in banking, financial, and IT stocks. The positive momentum in heavyweight sectors helped lift overall market sentiment during the session.

The Nifty 50 was trading 1.94 per cent or 436.35 points higher at 22,949.00, while the Sensex was up 1.96 per cent or 1,425.13 points at 74,121.52 as of 14:28 on March 24, 2026.

Among the Top Gainers in the Nifty 50 index were Apollo Hospitals Enterprise, Kotak Mahindra Bank, and Shriram Finance, contributing significantly to the upward move in the benchmark index.

The broader markets outperformed the frontline indices, indicating strong participation beyond Large-Cap stocks. The Nifty MidCap index surged 2.70 per cent, while the Nifty SmallCap index advanced 2.69 per cent.

On the sectoral front, the Auto index emerged as the top performer, rising over 2 per cent. The Nifty Media and Nifty IT indices also posted strong gains, outperforming other sectoral indices during the session.

Meanwhile, the Nifty Pharma index lagged behind and emerged as the worst performer, registering the least gains among all sectors.

Market Update at 12:15 PM: The Nifty 50 and the Sensex were trading higher on Tuesday, supported by gains in banking, financial, and IT stocks. The Nifty 50 was up 1.30 per cent or 293.75 points at 22,807.65, while the Sensex rose 1.33 per cent or 968.50 points to 73,664.44.

Among the top gainers in the Nifty 50 index were Apollo Hospitals Enterprise, Kotak Mahindra Bank, and Shriram Finance, contributing to the market’s upward momentum.

In the broader markets, indices came off their opening highs but continued to trade in positive territory. The Nifty MidCap index was up 1.66 per cent, while the Nifty SmallCap index gained 1.43 per cent.

On the sectoral front, the Nifty Auto index outperformed its peers with gains of nearly 2 per cent. The Nifty PSU Bank and Nifty Metal indices also registered strong performance. Meanwhile, the Nifty IT index emerged as the worst performer, posting the least gains among sectors.

In the commodities market, Brent crude prices surged 4.2 per cent to cross the USD 104-per-barrel mark after Iran denied holding talks with the U.S. and reported a fresh attack on its energy infrastructure.

Earlier, Brent crude had slipped below the USD 100-per-barrel level after U.S. President Donald Trump stated that energy strikes were delayed by five days following productive discussions with Iran.
 

Market Update at 09:34 AM: India’s benchmark indices, the Sensex and Nifty 50, opened higher on Tuesday, tracking positive global cues after the U.S. delayed strikes on Iran’s power infrastructure, easing immediate geopolitical concerns.

As of 9:17 AM, the Sensex was trading 1,014.18 points or 1.40 per cent higher at 73,741, while the Nifty 50 gained 297.10 points or 1.32 per cent to trade at 22,819.75.

The broader markets also witnessed strong buying interest, with the Nifty MidCap rising 1.84 per cent and the Nifty SmallCap advancing 1.64 per cent.

In the commodities market, Brent crude hovered near the USD 100-per-barrel mark during the Asian session amid mixed signals from the U.S. and Iran regarding possible de-escalation in the Middle East. The June futures contract was trading 4.32 per cent higher at USD 99.9 per barrel.

On the sectoral front, the Nifty Auto index outperformed with gains of nearly 2 per cent. The Nifty PSU Bank and Nifty Metal indices also registered strong performance. In contrast, the Nifty IT index emerged as the worst performer, posting the least gains among sectoral indices.

Earlier, Brent crude had slipped below the USD 100-per-barrel mark after U.S. President Donald Trump stated that energy strikes were delayed by five days following productive discussions with Iran. However, Iranian officials denied any talks with Washington, stating that the conflict continued, which limited the decline in oil prices.

Pre-Market Update at 7:53 AM: India’s benchmark indices, the Sensex and Nifty 50, are likely to open higher on Tuesday, tracking a global market rally amid signs of easing tensions in the U.S.-Iran conflict. As of 7:26 am, GIFTY Nifty was trading around the 22,836 level, up by nearly 371 points from the Nifty futures’ previous close, indicating a gap-up start for the Indian stock market indices.

Asian markets traded higher on Tuesday, following signs of de-escalation in the U.S.-Iran war. Japan’s Nikkei 225 gained 0.59 per cent, while the Topix rose 1.49 per cent. South Korea’s Kospi and Kosdaq traded flat. The Hong Kong Hang Seng index was up 0.7 per cent. Meanwhile, U.S. equities closed higher overnight after Washington delayed planned strikes on Iranian power plants, boosting investor sentiment.

In the latest development on the U.S.-Iran conflict, U.S. President Donald Trump extended the deadline for Iran to reopen the Strait of Hormuz and delayed strikes on Iranian power plants by five days. He stated that U.S. envoys are in talks with a “respected” Iranian leader and suggested Iran may be open to a deal, although Iranian officials denied such negotiations.

On the regulatory front, the SEBI board approved a broad set of proposals, including easing fund settlement norms for foreign portfolio investors (FPIs) and revising regulatory frameworks for market intermediaries. It also cleared recommendations related to conflict of interest and disclosure norms for SEBI officials.

Japan’s economic data showed moderation in March, with the S&P Global flash manufacturing PMI easing to 51.4 from 53.0 in February. The services PMI slipped to 52.8 from 53.8, while the composite PMI declined to 52.5 from 53.9, marking the slowest expansion in three months.

The U.S. dollar index rose nearly 0.2 per cent to 99.35 after dipping to a two-week low in the previous session.

From a derivatives perspective, the Put-Call Ratio (PCR) stands at 0.69. On the Put side, the 22,300 and 22,000 strikes saw meaningful addition in open interest, with 22,000 emerging as a key support level. The 22,300 level also holds significant open interest, making it another crucial support zone. On the Call side, open interest was concentrated from 22,500 to 23,000, indicating strong resistance at higher levels. This suggests that any upside may face selling pressure, while 22,300 remains a key level on the downside.

Technically, Monday’s high of 22,856 is likely to act as immediate resistance for the Nifty. A fall below 22,700 could trigger a move towards 22,400 and 22,300. On the upside, 23,075 is seen as the next resistance level.

Sammaan Capital and SAIL will remain in the F&O ban list for March 24.

On March 23, Foreign Institutional Investors (FIIs) were net sellers, offloading equities worth Rs 10,414.23 crore. Domestic Institutional Investors (DIIs) bought shares worth Rs 12,033.97 crore. FIIs have been net sellers for 17 consecutive trading sessions.

On Monday, Indian markets ended sharply lower amid concerns over the prolonged U.S.-Iran conflict. The Sensex fell 1,836.57 points, or 2.46 per cent, to close at 72,696.39. The Nifty 50 declined 601.85 points, or 2.60 per cent, to settle at 22,512.65.

U.S. markets closed higher on Monday after the delay in military action against Iran. The Dow Jones Industrial Average surged 631 points, or 1.38 per cent, to 46,208.47. The S&P 500 rose 1.15 per cent to 6,581.00, while the Nasdaq Composite gained 1.38 per cent to 21,946.76.

Among stocks, Nvidia rose 1.59 per cent, Apple gained 1.41 per cent, and Tesla jumped 3.5 per cent. Airline stocks rallied, with Alaska Air and United Airlines rising over 4 per cent each, and American Airlines up 3.66 per cent. Cruise stocks also advanced, with Norwegian Cruise Line up 6.17 per cent, while Carnival and Viking Holdings gained more than 5 per cent. Banking stocks were higher, with JPMorgan Chase up 1.2 per cent and Goldman Sachs rising 2.2 per cent.

Gold prices initially rose after the postponement of U.S. strikes but later declined. Spot gold fell 2 per cent to USD 4,318 per ounce, while silver prices dropped over 3 per cent to USD 67.

Disclaimer: The article is for informational purposes only and not investment advice.