The key equity benchmarks ended with strong gains on Wednesday, extending their relief rally for a second straight session. The upmove was supported by positive global cues after signs of possible de-escalation in Middle East tensions and a decline in crude oil prices below the $100 per barrel mark.
Despite the gains, sentiment remained cautious as traders monitored uncertainty around the reopening of the Strait of Hormuz. The Nifty closed above the 23,300 level, led by gains in consumer durables and PSU bank stocks.
The S&P BSE Sensex zoomed 1,205 points or 1.63% to 75,273.45. The Nifty 50 index soared 394.05 points or 1.72% to 23,306.45. In the two consecutive trading sessions, Sensex and Nifty jumped 3.54% and 3.53%, respectively.
Larsen & Toubro (up 3.80%), State Bank of India (up 2.89%) and HDFC Bank (up 2.16%) boosted the indices today.
The broader market outperformed the frontline indices. The BSE 150 MidCap Index surged 2.34% and the BSE 250 SmallCap Index jumped 2.41%.
The market breadth was strong. On the BSE, 2,959 shares rose and 1,357 shares fell. A total of 164 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, shed 0.40% to 24.64.
The stock market will remain closed on 26 March 2026, on account of Shri Ram Navami.
US-Iran Warfare:
As the Middle East conflict continues without clarity, uncertainty remains a key concern for investors.
According to media reports, the Donald Trump administration has put forward a 15-point ceasefire plan to Iran, even as the US military prepares to deploy at least 1,000 additional troops to a region where around 50,000 are already stationed.
Earlier, Trump stated that Washington was in discussions with Iran to bring an end to the conflict, despite an escalation in hostilities marked by airstrikes on Iranian positions and retaliatory missile and drone attacks by Iran targeting Israel and other locations. However, Iranian authorities have rejected claims that any formal negotiations are currently taking place.
Economy:
S&P Global has raised India’s GDP growth forecast for FY27 to 7.1% from its earlier estimate of 6.7%, while warning that fresh geopolitical tensions and elevated energy prices could pressure fiscal balances and widen the trade deficit.
The ratings agency also revised its medium-term outlook upward, increasing FY28 growth projections by 20 basis points to 7.2% and FY29 to 7.0%, reflecting expectations of steady economic momentum.
Numbers to Track:
The yield on India's 10-year benchmark federal paper rose 0.07% to 6.872 compared with the previous session close of 6.867.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 94.0800 compared with its close of 93.7600 during the previous trading session.
MCX Gold futures for 2 April 2026 settlement jumped 3.65% to Rs 143,985.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.11% to 99.34.
The United States 10-year bond yield declined 1.34% to 4.335.
In the commodities market, Brent crude for May 2026 settlement jumped $5.48 or 5.24% to $99.01 a barrel.
Global Markets:
Dow Jones futures are up by 450 points, signaling a strong start for US stocks today.
European shares advanced on Wednesday, while Asian markets ended higher, as comments from U.S. President Donald Trump pointing to potential talks with Iran lifted sentiment, even as Tehran denied any direct negotiations with Washington.
Speaking at the Oval Office on Tuesday, Trump said the U.S. and Iran were “in negotiations right now” and suggested Tehran was keen to strike a peace deal, adding he had stepped back from threats to target Iranian energy infrastructure “based on the fact we’re negotiating.”
British consumer price inflation held steady at 3.0% year-on-year in February, matching January’s rate and coming in line with expectations, according to official data released on Wednesday.
Overnight on Wall Street, the S&P 500 pulled back on Tuesday, giving back some of the sharp gains seen in the previous session as crude prices rose again while the Iran war moved further into its fourth week.
The broad market index lost 0.37% and ended at 6,556.37, while the Dow Jones Industrial Average shed 84.41 points, or 0.18%, and settled at 46,124.06. The Nasdaq Composite dropped 0.84% and closed at 21,761.89.
Stocks in Spotlight:
Larsen & Toubro rallied 3.80% after the company’s Water & Effluent Treatment business vertical has secured a significant order from the Guwahati Metropolitan Drinking Water & Sewerage Board for a major water management project in Guwahati. As per L&T’s internal classification, the contract falls under the significant category, valued between Rs 1,000 crore and Rs 2,500 crore.
Sammaan Capital jumped 6.21% after the Reserve Bank of India approved the proposed investment by Avenir Investment RSC, marking a key step towards a change in control of the company. The approval allows the investor, owned by International Holding Company PJSC, to proceed with an investment of approximately Rs 8,850 crore through a preferential issue. Upon completion, Avenir Investment is expected to hold around 41.23% stake in the company, which could rise to 63.36% following an open offer, subject to full subscription.
Fino Payments Bank rose 10% after the bank sees strong surge in Q4 FY26 referral loan disbursements. As of 20 March 2026, Q4 FY26 referral loan disbursements have already reached
Rs 540 crore and are expected to close at 90% levels comparable to the first three
quarters combined (
Rs 700 crore). Overall, the bank is on track to record close to Rs 1,300 crore in referral loan disbursements for FY26.
Kotak Mahindra Bank added 1.13% after the bank announced the conclusion of stake sale in Infina Finance by Kotak Mahindra Capital Company (KMCC), a wholly owned subsidiary of the bank, for an aggregate consideration of Rs 1,293.91 crore. Post completion, KMCC’s stake in Infina will reduce to around 19%, resulting in Infina ceasing to be an associate of the bank.
KMCC would sell nearly 9.90% stake (or 2,17,899 shares) to Derive Trading and Resorts and Bright Star Investments for Rs 413.35 crore, approximately 12.10% stake (or 2,66,321 shares) to trusts representing the estate of Rakesh Jhunjhunwala for Rs 505.21 crore and around 8.99% stake (or 1,97,870 shares) to KF Trust, an existing shareholder, for Rs 375.36 crore.
Waaree Energies rose 3% after the company's board approved an increase in its stake in subsidiary Waaree Transpower and a fresh capital expenditure plan. The board has cleared the acquisition of additional equity in Waaree Transpower, taking its shareholding from 64.04% to 75.10%. The acquisition will be carried out through a cash consideration of around Rs 190 crore at Rs 75 per share. The company expects to complete the stake acquisition by June 2026.
Magellanic Cloud added 2.51% after its wholly owned subsidiary, Provigil Surveillance has secured a significant purchase order worth Rs 25 crore from Punjab & Sind Bank. The order entails deployment of integrated e-surveillance systems at ATMs and cash recycling machines (CRMs). The scope includes end-to-end implementation, covering installation, commissioning and maintenance of the systems under an OPEX model for a period of five years
Arkade Developers advanced 2.16% after the company announced the launch of its premium residential project, Arkade Evoke, targeted at luxury homebuyers with a gross development value (GDV) of Rs 230 crore.
Cosmic CRF added 2.16% after the company announced that it has secured multiple orders worth Rs 32.54 crore from various divisions of Indian Railways.
Sterlite Technologies rallied 7.07% after the company launched Hollow Core Fibre (HCF) cable, to meet the low-latency and high-bandwidth requirements of modern Data Centres, Hyperscalers, and High-Frequency transmission networks.
Welspun Corp rose 4.13% after completing intra-group transfer of 22% stake in Saudi-based EPIC for
SAR 980 million. Transaction shifts stake between subsidiaries with no impact on operations or financials.
IPO Update:
Sai Parenteral received bids for 30,82,332 shares as against 75,22,486 shares on offer, according to stock exchange data at 16:54 IST on Wednesday (25 March 2026). The issue was subscribed 0.41 times.
The issue opened for bidding on 24 March 2026 and it will close on 27 March 2026. The price band of the IPO is fixed between Rs 372 and 392 per share.
Amir Chand Jagdish Kumar (Exports) received bids for 2,77,18,250 shares as against 1,89,05,270 shares on offer, according to stock exchange data at 16:54 IST on Wednesday (25 March 2026). The issue was subscribed 1.47 times.
The issue opened for bidding on 24 March 2026 and it will close on 27 March 2026. The price band of the IPO is fixed between Rs 201 and 212 per share.
Powerica received bids for 5,21,515 shares as against 2,05,55,171 shares on offer, according to stock exchange data at 16:54 IST on Wednesday (25 March 2026). The issue was subscribed 0.03 times.
The issue opened for bidding on 24 March 2026 and it will close on 27 March 2026. The price band of the IPO is fixed between Rs 375 and 395 per share.