The key equity indices traded with significant gains in morning trade supported by positive global sentiment after Donald Trump announced a temporary pause on potential strikes on Iran’s energy infrastructure, indicating possible de-escalation in Middle East tensions. However, investor sentiment remained guarded due to uncertainty over the Strait of Hormuz reopening. Nifty traded above the 22,700 level ahead of the expiry of NSE derivative contract.
IT shares witnessed buying demand after declining in the past trading session.
At 11:25 IST, the barometer index, the S&P BSE Sensex surged 739.04 points or 1.03% to 73,447.18. The Nifty 50 index soared 220.85 points or 0.97% to 22.727.55.
In the broader market, the BSE 150 MidCap Index rose 0.69% and the BSE 250 SmallCap Index rose 0.42%.
The market breadth was strong. On the BSE, 2,554 shares rose and 1,382 shares fell. A total of 214 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term declined 4.10% to 25.63.
US-Iran Warfare
The ongoing conflict in the Middle East continues to intensify, keeping global investors cautious as the war enters its fourth week, raising concerns about energy security and global economic stability.
Donald Trump has said that based on the “tenor and tone” of the ongoing discussions, he has instructed the US department of war to postpone any planned military strikes on Iranian power plants and energy infrastructure for five days.
According to the chief of the International Energy Agency (IEA), nearly 40 energy assets ‘severely damaged' in conflict; warns of ‘worst’ crisis.
IPO Update:
The initial public offer (IPO) of Central Mine Planning & Design Institute received bids for 2,21,44,560 shares as against 7,97,89,500 shares on offer, according to stock exchange data at 11:18 IST on Tuesday (24 March 2026). The issue was subscribed 0.28 times.
The issue opened for bidding on 20 March 2026 and it will close on 24 March 2026. The price band of the IPO is fixed between Rs 163 and 172 per share.
The initial public offer (IPO) of Sai Parenteral’s received bids for 86,792 shares as against 75,22,486 shares on offer, according to stock exchange data at 11:21 IST on Tuesday (24 March 2026). The issue was subscribed 0.01 times.
The issue opened for bidding on 24 March 2026 and it will close on 26 March 2026. The price band of the IPO is fixed between Rs 372 and 392 per share.
The initial public offer (IPO) of Amir Chand Jagdish Kumar (Exports) received bids for 38,71,770 shares as against 1,89,05,270 shares on offer, according to stock exchange data at 11:18 IST on Tuesday (24 March 2026). The issue was subscribed 0.20 times.
The issue opened for bidding on 24 March 2026 and it will close on 26 March 2026. The price band of the IPO is fixed between Rs 201 and 212 per share.
The initial public offer (IPO) of Powerica received bids for 88,726 shares as against 2,05,55,171 shares on offer, according to stock exchange data at 11:18 IST on Tuesday (24 March 2026). The issue was subscribed 0.00 times.
The issue opened for bidding on 24 March 2026 and it will close on 26 March 2026. The price band of the IPO is fixed between Rs 375 and 395 per share.
Buzzing Index:
The Nifty IT index jumped 1.12% to 29,474.20. The index declined 0.18% in the past trading session.
Tech Mahindra (up 1.4%), Infosys (up 1.23%), HCL Technologies (up 1.14%), Oracle Financial Services Software (up 0.46%), Mphasis (up 0.43%), LTIMindtree (up 0.35%), Wipro (up 0.33%), Persistent Systems (up 0.22%) and Tata Consultancy Services (up 0.16%) advanced.
Stock in Spotlight:
SEPC rose 2.80% after the company announced the acquisition of a 90% stake in Abu Dhabi-based Avenir International Engineers and Consultants LLC. The deal, valued at around AED 708 million (approximately Rs 1,530 crore), is part of SEPC’s strategy to expand its global footprint in the oil and gas engineering sector.
Global Markets:
Asia markets jumped on Tuesday as signs of de-escalation in the Middle East conflict moderated oil prices.
The gains came after U.S. President Donald Trump said Monday he had instructed the U.S. military to delay planned strikes on Iran’s power plants and energy facilities for five days, after discussions with Iranian officials. The development gave investors hope that the Middle East conflict that spiked oil prices and raised fears of a global recession was nearing an end.
However, Iranian state media, citing an unnamed senior security official in a Telegram post, disputed Trump’s account, denying that any talks had taken place between Washington and Tehran.
Meanwhile, Japan’s Nikkei 225 and the Topix indices clocked strong gains after the country's headline inflation rate eased for a fourth straight month in February as the economy cooled on stabilizing food prices and fuel subsidies.
The consumer price index fell to 1.3% last month, according to data released by Japan’s Statistics Bureau Tuesday, marking the lowest since March 2022 and below the central bank’s 2% target, down from 1.5% in January.
Overnight in the U.S., stocks rallied after President Donald Trump said the U.S. and Iran have held talks. The Dow Jones Industrial Average jumped 631 points, or 1.38%, to close at 46,208.47. The S&P 500 rose 1.15% and ended at 6,581.00, while the Nasdaq Composite gained 1.38% and settled at 21,946.76.