The key domestic indices ended with modest gains on Friday, supported by short-covering following sharp losses in the previous session. The Nifty ended above the 23,100 level. However, underlying risks persist, including continued FII outflows, elevated crude oil prices, rising US bond yields and a weakening rupee, which hit a record low against the dollar. IT, PSU bank, and pharma shares advanced, while realty and private bank shares declined.
As per provisional closing data, the barometer index, the S&P BSE Sensex surged 325.72 points or 0.44% to 74,532.96. The Nifty 50 index rose 112.35 points or 0.49% to 23,114.50.
In the broader market, the BSE 150 MidCap Index added 0.66% and the BSE 250 SmallCap Index rose 0.47%.
The market breadth was positive. On the BSE, 2,454 shares rose and 1,814 shares fell. A total of 164 shares were unchanged.
IPO Update:
The initial public offer (IPO) of Central Mine Planning & Design Institute received bids for 47,33,440 shares as against 7,97,89,500 shares on offer, according to stock exchange data at 15:30 IST on Friday (20 March 2026). The issue was subscribed 0.06 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.
Buzzing Index:
The Nifty IT index jumped 2.17% to 29,199.60. The index tumbled 3.31% in the past trading session.
Oracle Financial Services Software (up 3.54%), Tech Mahindra (up 3.45%), Infosys (up 3.15%), Persistent Systems (up 2.46%), Mphasis (up 2.25%), Wipro (up 1.7%), HCL Technologies (up 1.7%), Tata Consultancy Services (up 1.66%), LTIMindtree (up 1.58%) rose.
Stocks in Spotlight:
HDFC Bank fell 2.41% to Rs 780.45, extending its previous session’s 5.13% decline after the resignation of its part-time chairman and independent director, Atanu Chakraborty, effective 18 March 2026. In his resignation letter, he cited certain developments and practices within the bank over the past two years that were not aligned with his personal values and ethics. The Reserve Bank of India has approved the appointment of Keki Mistry as interim part-time chairman for three months, effective 19 March 2026. Chakraborty had joined the board in May 2021 and oversaw the bank’s merger with HDFC.
Happiest Minds Technologies surged 10.70% to Rs 392.05, following reports that EQT, Partners Group and ITC Infotech are exploring a controlling stake buyout. The stake sale is said to be from founder and chairman Ashok Soota, who holds around 44% in the company.
According to reports, the promoter holding is valued at around Rs 2,500 crore. Discussions are said to be at an early stage, with one of the Big Four firms conducting commercial due diligence, and a report expected to be shared with potential bidders in the coming weeks.
Tata Steel gained 3.23% after the company inaugurated its first scrap-based Electric Arc Furnace (EAF) facility in India at Ludhiana, marking a significant step in its sustainability roadmap.
Artson jumped 4.99% after the company announced it has secured an order worth Rs 42.22 crore from Anuppur Thermal Energy in Madhya Pradesh.
Tata Consultancy Services (TCS) rose 1.44% after the company stated that it has entered into a pact with ABB for a strategic IT, AI, and engineering partnership.
Tata Power Company rose 1.07% following reports that the company has signed a Power Purchase Agreement with the Gujarat government for its Mundra power plant.
Natco Pharma jumped 2.92% after the company announced the launch of Semaglutide Injection (multi dose vials) in the India market under the brand names of SEMANAT and SEMAFULL.
NTPC advanced 1.89% after the company signed a memorandum of understanding (MoU) with Octopus Energy Group, a leader in clean energy and digital energy platforms, to explore strategic collaboration across the power and energy sector.
VA Tech WABAG added 2.91% after it secured a ‘large’ consortium order from United Water Supply Company of Georgia LLC for setting up a 19 MLD wastewater treatment plant in Georgia, marking its entry into the CIS region.
P N Gadgil Jewellers gained 0.81%. The company announced that it has crossed the Rs 10,000 crore revenue milestone in FY26, reflecting strong business momentum.
Vibhor Steel Tubes rose 0.09%. The company announced that it has secured a new work order worth Rs 16.87 crore from Agrawal Infracab for the supply of transmission towers.
State Bank of India (SBI) climbed 0.90%. The bank’s subsidiary company, SBI Funds Management (SBIFM) has filed a draft red herring prospectus (DRHP) with SEBI for an initial public offer (IPO).
Indiabulls soared 0.71%. The company said that it has entered into a joint venture with a private land-owning entity to develop a premium commercial project on approximately 2.38 acres in Sector 103, Gurgaon, along the Dwarka Expressway.
Highway Infrastructure rose 0.33%. The company said that it has secured a work order worth approximately Rs 14.60 crore from Sacham Highway Real Estates for construction and development work in Indore.
Global Markets:
European shares traded lower on Friday as investors assessed the cautious tone struck by central banks across the region in the previous session.
The Bank of England kept its key rate unchanged at 3.75% and warned of faster price rises due to a fresh economic shock, with inflation seen near 3.5%.
Meanwhile, investors are pricing in over a 50% probability of a rate hike at the ECB’s April meeting.
Both the Swiss National Bank and Sweden’s Riksbank also held rates steady, citing uncertainty around the war in the Middle East. The decisions followed a hold from the U.S. Federal Reserve on Wednesday, which also took a cautious approach amid the escalating conflict.
Asian markets ended mixed, following volatile trading on Wall Street overnight, as the Middle East war and disruptions to energy supply keep investors jittery.
The People’s Bank of China kept its key lending rates steady in March, with the one-year LPR at 3.0% and the five-year LPR at 3.5%, in line with expectations. The decision reflects a cautious stance amid global uncertainties, even as domestic data shows resilience, while property weakness and soft demand persist.
Japan’s markets were closed for a public holiday
Signaling efforts at calming concerns, U.S. President Donald Trump said that he was not deploying ground troops, and Israeli Prime Minister Benjamin Netanyahu stated that Israel would refrain from repeating attacks on Iranian energy facilities.
U.S.-aligned countries, including Britain, Canada, France, Germany and Japan issued a joint statement expressing “our readiness to contribute to appropriate efforts to ensure safe passage through the Strait” of Hormuz.
Overnight on Wall Street, the Dow Jones Industrial Average declined 0.44% to 46,021.43 points. The S&P 500 fell 0.27% to end the session at 6,606.49 points, while the Nasdaq Composite slumped 0.28% to 22,090.69.