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Informist, Tuesday, Mar. 10, 2026

 

By Arya S. Biju

 

MUMBAI – Domestic headline indices closed higher Tuesday as global crude oil prices fell after jumping to a multi-year high in the previous session. Crude oil prices retreated after US President Donald Trump late Monday signalled that the conflict in West Asia is likely to end soon. He also said the US would remove crude oil-related sanctions on certain countries as a way to lower prices of the commodity.

 

The May futures contract of Brent Crude on the Intercontinental Exchange fell over 11% to an intraday low of $88.05 per barrel Tuesday. At 1541 IST, the futures contract had come off the low and was at $90.71 per barrel, still down over 8% from the previous close. This came a day after oil prices had surged to nearly $120 per barrel amid the worsening crisis in West Asia and fears of global supply disruptions.

 

However, resumption of shipping through the Strait of Hormuz, which has been effectively closed since the beginning of the conflict on Feb. 28, will be needed to sustain the decline in oil prices, The Wall Street Journal said, quoting analysts at ING. "Trump's words will only go so far," the ING analysts said. "Ultimately, the market will need to see a resumption of oil flows through the Strait of Hormuz to sustain a move lower in oil prices."

Tuesday, the Nifty 50 closed at 24261.60, up 233.55 points or 1%. The BSE Sensex ended at 78205.98 points, up 639.82 points or 0.8%. Both benchmark indices had fallen 1.7% Monday, marking their lowest closing levels in months. The rise in the Nifty 50 index was primarily driven by a rise in automobile and financial services stocks. A fall in index heavyweight Reliance Industries and select information technology stocks limited the rise in the 50-stock index.

 

Major global equity indices also saw a rebound Tuesday after the sharp fall in the previous session as oil prices fell. Major Asian indices closed 1.1-5.4% higher Tuesday and those in Europe were up 1.3-2.6% at 1550 IST. In the US, futures tied to the Dow Jones Industrial Average and NASDAQ 100 rose 0.3%. The S&P 500 futures climbed 0.2%.

 

Back home, the broader market indices outperformed the benchmarks, rising around 2?ch compared to the near 1% rise in the benchmarks. In the previous session, small- and mid-cap indices had fallen around 2?ch. All the sectoral indices, with the exception of the Nifty IT and Nifty Oil & Gas, ended in positive territory, up 0.5-3.1%. 

 

Shares of most automobile and auto ancillary companies rose after falling sharply in the previous session. Automobile stocks have been under selling pressure recently on fears of rising raw material costs amid ongoing supply chain disruptions, particularly shortage of memory chips, impacting production, according to analysts.

 

Shares of aviation companies rose after crude oil prices fell. Earlier there were fears that higher aviation turbine fuel prices amid the escalating conflict in West Asia would weigh on the margins of these companies. Shares of InterGlobe Aviation and SpiceJet closed 3.4% and 4.5% higher, respectively. Similarly, shares of paint companies also rose Tuesday. Petroleum derivatives are a major raw material for paint manufacturers.

 

Shares of most fertiliser companies rose on positive momentum from the government's new Natural Gas Order, 2026, which secures feedstock supply for urea production, amid strong inventory levels ahead of the kharif season, according to analysts. The government has identified fertiliser plants as a priority category to distribute natural gas. Under the order, they will receive at least 70% of their average gas consumption over the past six months.

 

Shares of cable and wire manufacturing companies fell amid rising copper prices. Shares of KEI Industries and Polycab India and Finolex Cables closed 3.5-6.1% lower and were the worst hit in the Nifty 500 index.

 

Among individual stocks, Shriram Finance rose nearly 8% and was the top gainer in the Nifty 50. Shares of Dixon Technologies (India) rose over 11?ter the company said it had got approval from the Ministry of Electronics and Information Technology for its proposed joint venture with HKC Overseas, an affiliate of HKC Corp. 

 

Shares of Happiest Minds Technologies surged 18?ter the company raised its revenue growth guidance for the financial year 2026-27 (Apr-Mar) to 12.5% from 10% estimated earlier. Additionally, the company said it aims to achieve 15% revenue growth for FY28. Shares of iPhone distributor Redington rose around 12?ter a media report said Apple now makes a quarter of its iPhones in India. 

 

* Of the Nifty 50 stocks, 41 rose and 9 fell

* Of the Sensex stocks, 24 rose and 6 fell

* On the NSE, 2,545 stocks rose, 672 fell, and 88 were unchanged

* On the BSE, 3,103 stocks rose, 1,175 fell, and 145 were unchanged

* Nifty Auto: up 3.1%; Nifty Consumer Durables: up 2.7%; Nifty IT: down 0.5%

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BSE                                              NSE

Sensex: 78205.98, up 639.82 points or 0.8%    Nifty 50: 24261.60, up 233.55 points or 1.0%

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S&P BSE Sensitive Index	Nifty 50
Lifetime High: 86159.02 (Dec. 1, 2025)	: Lifetime High: 26373.20 (Jan. 5, 2026)
Record Close High: 85836.12 (Sept. 26, 2024)	: Record Close High: 26328.55 (Jan. 2, 2026)
2026 1st day close: 85188.60 (Jan. 1)	: 2026 1st day close: 26146.55 (Jan. 1)
2026 Closing High: 85762.01 (Jan. 2)	: 2026 Closing High: 26328.55 (Jan. 2)
2026 Closing Low: 77566.16 (Mar. 9)	: 2026 Closing Low: 24028.05 (Mar. 9)
2026 High (intraday): 85883.50 (Jan. 5)	: 2026 High (intraday): 26373.20 (Jan. 5)
2026 Low (intraday): 76424.55 (Mar. 9)	: 2026 Low (intraday): 23697.80 (Mar. 9)
2025 1st day close: 78507.41 (Jan. 1)	: 2025 1st day close: 23742.90 (Jan. 1)
2025 Closing High: 85720.38 (Nov. 27)	: 2025 Closing High: 26215.55 (Nov. 27)
2025 Closing Low: 72989.93 (Mar. 4)	: 2025 Closing Low: 22082.65 (Mar. 4)
2025 High (intraday): 86159.02 (Dec. 1)	: 2025 High (intraday): 26325.80 (Dec.1)
2025 Low (intraday): 71425.01 (Apr. 7)	: 2025 Low (intraday): 21743.65 (Apr. 7)
2024 1st day close: 72271.94 (Jan. 1)	: 2024 1st day close: 21741.90 (Jan. 1)
2024 Closing High: 85836.12 (Sept. 26)	: 2024 Closing High: 26216.05 (Sept. 26)
2024 Closing Low: 70370.55 (Jan. 23)	: 2024 Closing Low: 21238.80 (Jan. 23)
2024 High (intraday): 85978.25 (Sep. 27)	: 2024 High (intraday): 26277.35 (Sept. 27)
2024 Low (intraday): 70001.60 (Jan. 24)	: 2024 Low (intraday): 21137.20 (Jan. 24)
2023 1st day close: 61167.79 (Jan. 2)	: 2023 1st day close: 18197.45 (Jan. 2)
2023 Closing High: 72410.38 (Dec. 28)	: 2023 Closing High: 21778.70 (Dec. 28)
2023 Closing Low: 59288.35 (Feb. 27)	: 2023 Closing Low: 17311.80 (Oct. 17)
2023 High (intraday): 72484.34 (Dec. 28)	: 2023 High (intraday): 21801.45 (Dec. 28)
2023 Low (intraday): 58699.20 (Jan. 30)	: 2023 Low (intraday): 17098.55 (Jan. 17)
2022 1st day close: 59183.22 (Jan. 3)	: 2022 1st day close: 17625.70 (Jan. 3)
2022 Closing High: 63284.19 (Dec. 1)	: 2022 Closing High: 18812.50 (Dec. 1)
2022 Closing Low: 51360.42 (Jun. 17)	: 2022 Closing Low: 15293.50 (Jun. 17)
2022 High (intraday): 63583.07 (Dec. 1)	: 2022 High (intraday): 18887.60 (Dec. 1)
2022 Low (intraday): 50921.22 (Jun. 17)	: 2022 Low (intraday): 15183.40 (Jun. 17)
2021 Closing High: 61305.95 (Oct. 14)	: 2021 Closing High: 18338.55 (Oct. 14)
2021 Closing Low: 46285.77 (Jan. 29)	: 2021 Closing Low: 13634.60 (Jan. 29)
2021 High (intraday): 61353.25 (Oct. 14)	: 2021 High (intraday): 18350.75 (Oct. 14)
2021 Low (intraday): 46160.46 (Jan. 29)	: 2021 Low (intraday): 13596.75 (Jan. 29)
2020 Closing High: 47751.33 (Dec. 31)	: 2020 Closing High: 13981.95 (Dec. 30)
2020 Closing Low: 25981.24 (Mar. 23)	: 2020 Closing Low: 7610.25 (Mar. 23)
2020 High (intraday): 47896.97 (Dec. 31)	: 2020 High (intraday): 14024.85 (Dec. 31)
2020 Low (intraday): 25638.90 (Mar. 24)	: 2020 Low (intraday): 7511.10 (Mar. 24)
2019 High (intraday): 41809.96 (Dec. 20)	: 2019 High (intraday): 12293.90 (Dec. 20)
2019 Low (intraday): 35287.16 (Feb. 19)	: 2019 Low (intraday): 10583.65 (Jan. 29)
2018 High (intraday): 38938.91(Aug. 28))	: 2018 High(intraday): 11760.20 (Aug. 28)
2018 Low (intraday): 32483.8 (Mar. 23)	: 2018 Low (intraday): 9951.9 (Mar. 23)
2017 High (intraday): 34005.37 (Dec. 26)	: 2017 High(intraday): 10515.10 (Dec. 26)

 

End

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Rajeev Pai

 

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