Market confidence was further boosted after U.S. President Donald Trump announced a temporary pause on potential strikes targeting Iran’s energy infrastructure, improving overall risk appetite. The Nifty ended above the 22,900 level.

All the sectoral indices ended in green with media, private bank and auto shares leading the rally.

As per provisional closing data, the barometer index, the S&P BSE Sensex zoomed 1,372.06 points or 1.89% to 74,068.45. The Nifty 50 index soared 399.75 points or 1.78% to 22,912.40.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index rallied 2.48% and the BSE 250 SmallCap Index surged 2.24%.

The market breadth was strong. On the BSE, 2,955 shares rose and 1,306 shares fell. A total of 182 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tumbled 7.44% to 24.74.

Economy:

India’s private sector growth weakened in March, marking the slowest expansion since October 2022. The slowdown was mainly due to softer domestic demand, even as international orders surged to a record high. Businesses reported that geopolitical tensions in the Middle East, volatile market conditions, and rising inflation affected overall performance.

The HSBC Flash India Composite Output Index dropped from 58.9 in February to 56.5 in March, indicating slower growth across manufacturing and services. Manufacturing saw the sharpest decline, with output growth hitting its lowest level since August 2021. Companies cited global uncertainty and rising costs as key challenges. The services sector also expanded at a slower pace, with disruptions to international travel affecting activity.

US-Iran Warfare

Global investors remain cautious as the Middle East conflict enters its fourth week. Despite both sides signaling de-escalation, concerns persist about energy security and global economic growth.

Iranian foreign minister Abbas Aragchi reportedly told Trump's special envoy Steve Witkoff that Supreme Leader Mojtaba Khamenei has given him approval to "close the issue quickly" if Tehran's conditions are met.

Further, 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.

New Listing:

Shares of Raajmarg Infra Investment Trust (InvIT) ended at Rs 107 on the NSE, representing a premium of 7% as compared with the issue price of Rs 100.

The stock debuted at Rs 107, marking a premium of 7% to the issue price.

The stock has hit a high of Rs 107 and a low of Rs 105.30. On the NSE, over 4.50 crore shares of the company were traded in the counter.

Shares of GSP Crop Science ended at Rs 356.10 on the BSE, representing a premium of 11.28% as compared with the issue price of Rs 320.

The stock was listed at Rs 332.30, exhibiting a premium of 3.84% to the issue price.

So far, the stock has hit a high of Rs 363.60 and a low of Rs 327.35. On the BSE, over 2.29 lakh shares of the company were traded in the counter so far.

IPO Update:

The initial public offer (IPO) of Central Mine Planning & Design Institute received bids for 7,14,67,200 shares as against 7,97,89,500 shares on offer, according to stock exchange data at 15:45 IST on Tuesday (24 March 2026). The issue was subscribed 0.90 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 2,32,332 shares as against 75,22,486 shares on offer, according to stock exchange data at 15:45 IST on Tuesday (24 March 2026). The issue was subscribed 0.03 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 1,83,15,290 shares as against 1,89,05,270 shares on offer, according to stock exchange data at 15:42 IST on Tuesday (24 March 2026). The issue was subscribed 0.97 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 1,86,961 shares as against 2,05,55,171 shares on offer, according to stock exchange data at 15:45 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 375 and 395 per share.

Buzzing index:

The Nifty Media index jumped 3.45% to 1,296.55. The index declined 7.58% in the past three consecutive trading sessions.

Prime Focus (up 9.04%), Nazara Technologies (up 5.21%), Tips Music (up 4.6%), Zee Entertainment Enterprises (up 4.56%), Network 18 Media & Investments (up 3.05%), D B Corp (up 2.92%), Sun TV Network (up 2.87%), Saregama India (up 2.54%), Hathway Cable & Datacom (up 2.04%) and PVR Inox (up 0.47%) surged.

Stocks in Spotlight:

Wipro added 1.09% after the company has announced the expansion of its business operations in South Korea, reinforcing the country’s position as a strategic growth market for the company. The expansion includes a larger office footprint in Seoul, the launch of a new innovation lab under the Wipro Innovation Network (WIN), and continued investments in local talent to better serve South Korean clients both domestically and globally.

Kalpataru Projects International advanced 2.47% after the company, along with its subsidiaries, secured orders worth approximately Rs 4,439 crore in its transmission and distribution (T&D) segment.

DCX Systems slipped 1.08% after the company secured an order worth Rs 14 crore from a domestic & international customer for the manufacture and supply of cable and wire harness assemblies.

Indian Railway Finance Corporation rallied 3.52% 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. The refinancing is expected to benefit Hindustan Urvarak and Rasayan through competitive borrowing costs and an optimised repayment structure aligned with its cash flows, improving financial flexibility and debt servicing efficiency while freeing up resources for growth.

Coal India (CIL) slipped 2.35%. The company said that its board has approved the divestment of up to 25% stake in South Eastern Coalfields (SECL) through offer for sale (OFS) and also a fresh issue of up to 10% equity shares by SECL.

Suzlon Energy rose 2.90% while GAIL rose 1.81% after Suzlon secured an order of around 100 MW from Gas Authority of India (GAIL), marking its sixth wind energy project win from the PSU and the fourth such order in FY26. The project will support the decarbonisation of GAIL’s upcoming petrochemical plant in Nandurbar, Maharashtra, the company said in a statement.

SEPC soared 9.25% 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.

Trishakti Industries surged 5.70% to Rs 133.95 after deploying Rs 190 crore in capital expenditure during FY26, 90% above its guided target of Rs 100 crore. The expansion raises the company’s total asset base to Rs 240 crore, representing 60% of its long-term Rs 400 crore capex plan through FY28.

Global Markets:

European market declined as the S&P Global Eurozone Composite PMI declined to 50.5 in March 2026, down from 51.9 in February.

Asian market ended higher on Tuesday as signs of de-escalation in the Middle East conflict.

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.