The key equity benchmarks traded with significant gains in the early afternoon, supported by improved investor sentiment amid expectations of a possible de-escalation in the Iran–Israel–US conflict. The rebound follows a sharp selloff in previous sessions triggered by escalating geopolitical tensions in the Middle East.
The Nifty traded above the 24,850 mark. Oil & Gas shares advanced after declining for previous three consecutive trading sessions.
At 11:30 ST, the barometer index, the S&P BSE Sensex, surged 358.99 points or 0.46% to 79,484.96. The Nifty 50 index jumped 159 points or 0.65% to 24,639.50.
The broader market, the BSE 150 MidCap Index added 0.52% and the BSE 250 SmallCap Index jumped 0.42%.
The market breadth was strong. On the BSE, 2,447 shares rose and 1,436 shares fell. A total of 196 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tanked 10.67% to 18.88.
IPO Update:
The initial public offer (IPO) of Sedemac Mechatronics received bids for 16,03,239 shares as against 56,32,899 shares on offer, according to stock exchange data at 11:25 IST on Thursday (5 March 2026). The issue was subscribed 0.28 times.
The issue opened for bidding on 4 March 2026 and it will close on 6 March 2026. The price band of the IPO is fixed between Rs 1,287 and 1,357 per share.
Buzzing Index:
The Nifty Oil & Gas index added 1.75% to 11,834.25. The index declined 3.74% in the previous three consecutive trading session.
Reliance Industries (up 2.86%), Oil & Natural Gas Corpn (up 2.83%), Indraprastha Gas (up 2.6%), Aegis Logistics (up 2.38%) and Petronet LNG (up 2.27%), Oil India (up 1.52%), Indian Oil Corporation (up 1.25%), GAIL (India) (up 0.89%), Castrol India (up 0.8%) and Mahanagar Gas (up 0.8%) added.
On the other hand, Gujarat Gas (down 6.26%), Gujarat State Petronet (down 0.92%) and Adani Total Gas (down 0.16%) edged lower.
Stocks in Spotlight:
Gujarat Gas declined 6.26% after the company warned of severe constraints in the availability of regasified liquefied natural gas (R-LNG) due to the ongoing conflict in the Middle East.
Quest Flow Controls rose 4.79% after the company received a Rs 90 lakh order from a Government of India undertaking under the Ministry of Defence to supply naval and critical valves, including triple offset butterfly valves.
Gujarat Gas tumbled 6.35% after the company issued force majeure notices to its customers, restricting gas supply from 6 March 2026 amid the ongoing war in the Middle East region.
Global Markets:
Asia market traded higher on Thursday, rebounding after several days of steep losses as sentiment improved following overnight gains on Wall Street and easing concerns over surging oil prices.
South Korea’s Kospi jumped over 12%, staging a sharp rebound from its worst session recorded on Wednesday.
As per media reports, the rebound in South Korea’s stock market was partly largely driven by a reversal of leveraged selling. A wave of margin calls among retail investors had triggered heavy selling earlier in the week, but once those positions were unwound the market began to recover, the reports added.
Other media report stated that the sell-off was mainly driven by the upside risk around oil prices stemming from the evolving geopolitical developments. Since South Korea is a major crude oil importer, uncertainty around how far oil prices could rise may weigh on the current account balance and add to inflationary pressures.
The U.S. Treasury Secretary Scott Bessent has reportedly said on Wednesday that Washington will roll out a series of measures aimed at stabilizing oil shipments through the Persian Gulf, signaling that the government is prepared to step in as geopolitical tensions threaten one of the world’s most critical energy corridors.
China’s big policy meeting dubbed the “Two Sessions,” which kicked off on Wednesday, remained on investor's radar.
China has reportedly set its GDP growth target for 2026 at 4.5% to 5%, the lowest target on record going back to early 1990s, as Beijing grapples with persistent deflationary pressures and trade tensions with the United States. Beijing also kept its budget deficit target unchanged from last year’s “around 4%” of GDP
Overnight in the U.S., stocks rose, building on the momentum seen late in the previous session, as the surge in oil prices pulled back following developments in the U.S.-Israeli war on Iran and fears about a U.S. economic growth scare faded.
The Dow Jones Industrial Average added 238.14 points, or 0.49%, to close at 48,739.41. The 30-stock index snapped a three-day run of losses. The S&P 500 gained 0.78% and ended at 6,869.50, while the Nasdaq Composite moved 1.29% higher and settled at 22,807.48.