The barometer index, 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.

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.

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.

Among the sectoral indices, the Nifty Consumer Durables index (up 3.51%), the Nifty Realty index (up 2.69%) and the Nifty PSU Bank index (up 2.67%) outperformed the Nifty 50 index.

Meanwhile, the Nifty IT index (up 0.08%), the Nifty Oil & Gas index (up 0.71%) and the Nifty Media index (up 1.13%) underperformed the Nifty 50 index.

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:

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.