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Informist, Tuesday, Mar. 17, 2026

 

By Eshitva Prakash

 

MUMBAI – Benchmark indices extended gains Tuesday as investors found stock valuations cheap following a steep correction over the past several sessions. Automobile and metal stocks were the top performers, extending gains from the previous session. Though crude oil prices remain elevated due to the war in West Asia, the Indian government's steps to prioritise supply of liquefied natural gas and the recent deliveries through the Strait of Hormuz have allayed some fears among investors, analysts said.

 

The Nifty 50 has risen nearly 2% in the last two sessions, helping trim losses this month to 6%. Depreciation of the rupee, elevated crude oil prices, and domestic companies facing supply and operational disruptions in West Asia have weighed on investor sentiment in recent sessions. The rupee Tuesday ended marginally higher at 92.37 per dollar against the previous close of 92.42 a dollar. At 1535 IST, the May futures contract of Brent Crude oil was up 2.6% at $102.83 per barrel due to rise in missile and drone attacks between the US-Israel combine and Iran. 

 

The Nifty 50 ended at 23581.15 points, up 172.35 points or 0.7%. The BSE Sensex closed at 76070.84 points, up 567.99 points or 0.8%. The headline indices chalked up most of the gains in the latter half of the session, after slipping into the red multiple times in the opening minutes and midday. The Nifty Metal and Nifty Auto gained the most among sectoral indices, rising almost 3% and 2%, respectively. The Nifty IT index was the worst hit, declining nearly 1% as artificial intelligence-related fears kept investors sceptical towards the sector.

 

Volatility in the market eased significantly because of buying interest at lower levels, resulting in steady purchases rather than further sell-offs, technical analysts said. The market's fear gauge, India VIX, ended more than 8.4% lower at 19.79 points. A shift to riskier stocks was also evident from the selling of pharmaceutical and fast-moving consumer goods stocks, which had emerged as defensive bets amid the hostilities in West Asia, a technical analyst said. Hindustan Unilever, Tata Consumer Products, and Cipla ended 1-2?ch.  

 

Buying interest in metal and automobile stocks emerged after valuations became more attractive to investors, analysts said. "If you look at auto sales in the last month, the demand looks strong on the domestic front," Dhaval Patel, assistant fund manager fixed income at Axis Mutual Fund, said. Prolonged conflicts of this scale are undoubtedly bad for markets globally, but investors are perhaps not entertaining the idea that this war will go on for a long time, the analyst added.

 

Shares of metal companies such as Tata Steel, JSW Steel, and Hindalco Industries ended 1.0–4.5% higher. Outside the 50-stock index, Lloyds Metals and Energy, Steel Authority of India, and National Aluminium Co. gained the most among peers and ended 6-8% higher. Shares of automobile makers and ancillary companies ended higher. Uno Minda, Sona BLW Precision Forgings, and Bharat Forge ended with 2–3% gains. Automobile majors such as Mahindra & Mahindra, Maruti Suzuki India, Hero MotoCorp., and Eicher Motors closed 1–3% higher.

 

Shares of Eternal closed nearly 6% higher--the sharpest intraday rise among Nifty 50 constituents. JM Financial has said investors with 12–18-month horizon should "aggressively accumulate" the stock. The brokerage sees Eternal's 'Blinkit' business poised for strong growth once the war in West Asia ends. For the March quarter, Blinkit's net order value is likely to expand by low double-digit sequentially despite high competitive pressures, supported by mid-teen order growth, the brokerage said. It also expects an uptick in Blinkit's adjusted earnings before interest, tax, depreciation, and amortisation margin to 0.4% of net order value, compared to just a break-even figure in the December quarter.

 

Shares of oil marketing companies such as Hindustan Petroleum Corp., Bharat Petroleum Corp., and Indian Oil Corp. ended 1-2% lower, extending losses from the last 3–4 sessions. Analysts said these stocks may see further pain amid surging crude oil prices and limited visibility of price hikes due to government orders, which would affect marketing margins.

 

Shares of information technology companies ended lower as renewed concerns related to artificial intelligence weighed on investor sentiment. The recent headlines around agentic AI have caused stock volatility in global IT services firms, an analyst at a domestic brokerage said. AI adoption is still limited, but the narrative is making clients think, the analyst said. Shares of HCL Technologies, Tata Consultancy Services, Infosys, and Wipro ended over 1–2% lower.

 

Shares of companies involved in sugar production rose after the food ministry approved an additional export quota of 87,587 tonnes for the 2025-26 (Oct-Sept) season, following requests by sugar mills. Shares of Shree Renuka Sugars, Dhampur Sugar Mills, and Bajaj Hindusthan Sugar were up 1-2%.

 

Shares of Gujarat Mineral Development Corp. ended 4% higher after the company signed a memorandum of understanding with state-owned NMDC to explore opportunities in rare earth elements. Shares of Redington ended over 2% lower a day after the company said the ongoing war in West Asia has restricted the operations of its step-down subsidiary, Redington Gulf FZE. Redington is a major distributor of Apple's iPhones in India and the Gulf.

 

* Of the Nifty 50 stocks, 36 rose and 14 fell

* Of the Sensex stocks, 21 rose and 9 fell

* On the NSE, 1,934 stocks rose, 1,299 fell, and 94 were unchanged

* On the BSE, 2,362 stocks rose, 1,892 fell, and 183 were unchanged

* Nifty Metal: up 2.8%; Nifty Auto: up 2.11%; Nifty IT: down 1%

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BSE                                              NSE

Sensex: 76070.84, up 567.99 points or 0.8%       Nifty 50: 23581.15, up 172.35 points or 0.7%

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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: 74563.92 (Mar. 13)	: 2026 Closing Low: 23151.10 (Mar. 13)
2026 High (intraday): 85883.50 (Jan. 5)	: 2026 High (intraday): 26373.20 (Jan. 5)
2026 Low (intraday): 73949.76 (Mar. 16)	: 2026 Low (intraday): 22955.25 (Mar. 16)
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

 

US$1 = INR 92.37

 

Edited by Ashish Shirke

 

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