The key equity benchmarks traded with significant gains in early afternoon 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 22,900 level ahead of the expiry of NSE derivative contract. Auto shares advanced after declining for previous trading session.
At 12:30 IST, the barometer index, the S&P BSE Sensex zoomed 1,031.30 points or 1.42% to 73,727.69. The Nifty 50 index soared 392.25 points or 1.74% to 22.905.
The broader market outperformed the frontline indices. The BSE 150 MidCap Index rose 1.93% and the BSE 250 SmallCap Index rose 1.60%.
The market breadth was strong. On the BSE, 2,855 shares rose and 1,193 shares fell. A total of 190 shares were unchanged.
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.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term tanked 5.92% to 25.15. The Nifty 30 March 2026 futures were trading at 22,922.90, at a premium of 71.5 points as compared with the spot at 22,851.40.
The Nifty option chain for the 30 March 2026 expiry showed a maximum call OI of 57.4 lakh contracts at the 24,000 strike price. Maximum put OI of 53.8 lakh contracts was seen at 22,000 strike price.
Buzzing Index:
The Nifty Auto index rose 1.22% to 24,227.50. The index tumbled 3.16% in the previous trading session.
Tube Investments of India (up 4.72%), Eicher Motors (up 2.57%), Hero MotoCorp (up 2.16%), Uno Minda (up 2%) and Samvardhana Motherson International (up 1.79%), Bosch (up 1.32%), Exide Industries (up 1.2%), Bajaj Auto (up 1.16%), Ashok Leyland (up 1.15%) and Bharat Forge (up 0.79%) added.
Stocks in Spotlight:
Indian Railway Finance Corporation added 2.67% after it has signed a rupee term loan agreement with Hindustan Urvarak and Rasayan to refinance its existing long-term debt of up to Rs 12,842 crore.
Suzlon Energy rose 1.55% after it has secured an order of around 100 MW from Gas Authority of India, marking its sixth wind energy project win from the PSU and the fourth such order in FY26.