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Informist, Tuesday, Mar. 24, 2026

 

By Arya S. Biju

 

MUMBAI – The domestic equity market saw a sharp rebound rally Tuesday, tracking gains in the US and Asian markets, which rose after US President Donald Trump said on Monday that the US would postpone military strikes on Iran's power plants and energy infrastructure for five days following discussions with Iranian officials. However, Iran has denied any talks with the US, keeping uncertainty around the resolution to the Iran war intact. 

 

Following Trump's comments, the May futures contract of Brent Crude plunged nearly 11% Monday, but rose Tuesday and stayed above the $100 per barrel level. Israel and Iran continued to launch strikes against each other, according to media reports. Huge explosions were reported overnight in Tehran, while attacks also targeted the cities of Tabriz, Isfahan and Karaj in Iran. Further, Iranian media reported that Israeli-US strikes hit two gas facilities and a pipeline, hours after Trump postponed planned attacks on power infrastructure. 

 

Analysts remain cautious about the market in the near term as uncertainty around geopolitical tensions persists, and greater clarity on developments in the Strait of Hormuz is awaited. "I don't think even the two protagonists (US and Iran) know precisely what will happen, because there is, you know, so many things involved out there," Shahzad Madon, managing director and chief executive officer of TCG Asset Management, said. In the coming sessions, the market direction will depend on news flows regarding the regional conflict, Madon added. 

 

After a sharp fall Monday, domestic benchmark indices closed around 2% higher each. The Nifty 50 settled at 22912.40, up 399.75 points or 1.8% from the previous close. The BSE Sensex closed at 74068.45, up 1372.06 points or 1.9%. The rally intensified further in the broader market, with mid- and small-cap indices rising 2.4-2.7%. This came a day after these indices lost around 4?ch. All sectoral indices also rose in the day's session, with Nifty Media leading gains, up 3.5%. 

 

"We acknowledge that this (Trump's comment on deferring from attacking Iran's energy Infrastructure) is not a done deal yet, with the re-opening of the Strait of Hormuz the critical milestone in the process. However, the probability of peace is significantly elevated and we think markets will aggressively price that in," Emkay Global said in a strategy report Tuesday. The brokerage expects the Brent to retrace to the $75-$80 per barrel mark, once clarity emerges. However, it may take two to three months for the economy to normalise, with some impact expected on the March quarter earnings and a spillover to the June quarter, Emkay said.

 

Shares of automobile and auto ancillary companies rose Tuesday, mirroring the upbeat broader market sentiment. These stocks were among the worst hit since hostilities in West Asia began on Feb. 28, amid fears of supply chain disruption with the shortage of liquefied petroleum gas affecting dependent processes such as forging, heat treatment, and painting. There were also concerns that rising prices of crude oil and rubber would hurt tyre companies' margins.

 

Shares of electric bus makers such as Olectra Greentech, JBM Auto, and Ashok Leyland rose after the government Monday said in Parliament that it plans to deploy around 10,000 air-conditioned electric buses in 116 cities across 26 states by the end of 2027. This is part of the Prime Minister eBus Sewa Scheme, NDTV Profit reported.

 

Shares of Asian Paints rose 4.5?ter reports said that the company is planning to implement a 6-8% price hike across its portfolio in phases from Apr. 10. The first round of hikes will cover core categories such as emulsions, enamels, primers, distempers and the Neo Bharat range from Apr. 10, while a second round from Apr. 21 will extend to the rest of the portfolio, including waterproofing solutions, tile adhesives and wood finishes, reports said. 

 

The price increase comes amid rising raw material costs, driven by geopolitical uncertainties. "We don't expect these price hikes to fully mitigate the impact of higher crude prices on the margins in the near term. But it provides a glimpse of fading competitive intensity, which is helping the industry to take required price hikes in the portfolio," ICICI Direct Research said in a report. While competitors Berger Paints and Kansai Nerolac undertook price hikes of 2-3% from April, they may now follow suit and implement steeper hikes, the brokerage said. 

 

Shares of Power Grid Corp. fell 1% despite positive brokerage commentary on the stock's long-term prospects. Elara Securities retained its 'buy' call on the stock and hiked its target price by over 6% to INR 360. The brokerage estimates transmission opportunities amounting to INR 15 trillion over the next decade, with Power Grid potentially capturing 50% of the market share. Shares of Coal India fell 2.9% Tuesday and were among the only six Nifty 50 constituents in the red.  

 

Shares of GSP Crop Science closed 11.3% higher at INR 356.25 on its debut day. The stock was listed at INR 328 on the National Stock Exchange Tuesday, a premium of 2.5% to the issue price of INR 320. The initial public offering of the company, which closed Wednesday, was subscribed 1.6 times, with the company receiving bids for 14.36 million shares, against 8.95 million shares on offer. 

 

* Of the Nifty 50 stocks, 44 rose and 6 fell

* Of the Sensex stocks, 27 rose and 3 fell

* On the NSE, 2,483 stocks rose, 809 fell, and 79 were unchanged

* On the BSE, 2,968 stocks rose, 1,295 fell, and 168 were unchanged

* Nifty Media: up 3.5%; Nifty Private Bank: up 2.5%; Nifty Energy: up 0.7%

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BSE                                              NSE

Sensex: 74068.45, up 1372.06 points or 1.9%       Nifty 50: 22912.40, up 399.75 points or 1.8%

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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: 72696.39 (Mar. 23)	: 2026 Closing Low: 22512.65 (Mar. 23)
2026 High (intraday): 85883.50 (Jan. 5)	: 2026 High (intraday): 26373.20 (Jan. 5)
2026 Low (intraday): 72558.44 (Mar. 23)	: 2026 Low (intraday): 22471.25 (Mar. 23)
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 93.8650

 

Edited by Saji George Titus

 

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