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Informist, Wednesday, Mar. 25, 2026

 

By Arya S. Biju

 

MUMBAI – Domestic headline indices closed sharply higher as crude oil prices fell on reports that the US is seeking a month-long ceasefire in its war with Iran, and has sent a peace plan to Tehran for discussion. At 1330 IST, Brent crude May futures were near the $100 per barrel mark after falling over 7% to a low of around $97 per barrel. 

The US has sent a 15-point plan to Iran to end the war, through Pakistan, whose army chief has emerged as the key interlocutor between the US and Iran, The New York Times reported, citing sources. However, it's unclear whether Iran, which has denied any talks, would accept the plan as a starting point for negotiations. Nor was it clear whether Israel, which has been bombing Iran together with the US, was on board with the plan, the report said. The US is also said to have proposed a one-month cease-fire, according to an Israeli media outlet, Channel 12.

 

However, a spokesperson from Iran's military refuted the claims of negotiations. "Don't call your failure an agreement," Lieutenant Colonel Ebrahim Zolfaghari said, according to Al-Jazeera. This came after US President Donald Trump, late Tuesday, said talks to end the war were happening "now" and that people with whom the US was in discussions "want to make a deal so badly." 

 

"Markets are reacting to the possibility of a ceasefire and that naturally creates a relief rally in risk assets, including Indian equities. But the bigger issue is that the market is trading on hope, not closure," Anirudh Garg, Partner and Fund Manager at INVasset PMS, said. "As long as Israel-Iran tensions remain capable of flaring up again, crude, currency and risk sentiment will continue to swing sharply," he added. 
 

Wednesday, the Nifty 50 settled at 23306.45, up 394.05 points or 1.7%. The BSE Sensex ended at 75273.45, up 1205 points or 1.6%. With this, the headline indices extended gains for the second straight session, rising 3.5?ch. However, the indices are still 7?low the pre-war levels and around 12–13?low their all-time highs. 

 

Further, early signs of normalisation in maritime movement through the Strait of Hormuz also boosted investor confidence, Vinod Nair, head of research at Geojit Investments, said in a note. The Iranian mission in New York, in a 'X' post, said that "non-hostile" vessels could pass through the Strait of Hormuz, "in coordination with the competent Iranian authorities." The mission said the vessels could cross the waterway if they "neither participate in nor support acts of aggression against Iran" and comply with safety and security regulations. 

 

The Indian rupee remained under pressure amid sustained foreign fund outflows, keeping investors cautious. Wednesday, the domestic currency settled at a record closing low of 93.9775 a dollar, just a shade below the lifetime low of 93.9800. Going forward, the Indian rupee is seen falling further because of the ongoing US-Israel war on Iran, which is likely to keep crude oil prices higher and reduce remittances to India from West Asia, Vishrut Rana, Asia-Pacific senior economist at S&P Global Ratings, told Informist Wednesday. 

 

Broader market indices closed 2-3% higher, outperforming the benchmarks. All sectoral indices also ended in the green, with Nifty Consumer Durables, Nifty Realty, and Nifty PSU Banks delivering the sharpest gains. The India VIX index, the fear gauge of Dalal Street, fell for the second straight session, indicating reduced market nervousness.   

 

Most real estate stocks rose for the second straight session Wednesday after the recent sharp fall amid concerns that prolonged tensions in West Asia could lead to a slowdown in demand. These stocks rose, mirroring gains in the broader market. Going forward, the downside for these stocks is limited, as there is not much negative in terms of demand, an analyst covering the sector at a domestic brokerage said. 

 

Shares of air-conditioning manufacturers such as Blue Star, Voltas, Havells India, and Whirlpool of India rose 1.1-5.1% after a key supplier to these companies, PG Electroplast, announced the normalisation of production following recent constraints in the supply of liquefied petroleum gas. Earlier in the day, PG Electroplast announced that it has installed alternative solutions, resulting in room air-conditioner production returning to "almost normalised" levels. After rising 9% to an intraday high of INR 546.90, shares of PG Electroplast came off highs and closed 3.1% higher. 

 

Shares of RPSG Ventures and Sun TV Network, which own the Indian Premier League franchises Lucknow Super Giants and Sunrisers Hyderabad, respectively, rose amid an improved valuation outlook for IPL teams. While shares of RPSG Ventures ended 20% higher, Sun TV shares came off their highs and closed in the red. 

 

On Tuesday, United Spirits sold its entire stake in IPL team Royal Challengers Bengaluru for INR 166.6 billion, sharply above expectations. This deal set a new benchmark for IPL franchise valuations, Nuvama Institutional Equities said in a report. The brokerage believes that the premium will re-rate the benchmark valuations for IPL franchises and reset market expectations against which all other teams, especially the stronger ones, will be compared. Shares of United Spirits closed 1.2% lower. 

Most chemical companies rose Wednesday, with PCBL Chemical leading the gains with around 16% rise. Indian chemical companies are heavily reliant on key oil and gas derivatives and any updates on a ceasefire in the West Asia conflict, which has led to a near blockade of the Strait of Hormuz, will be positive for the sector, analysts said. However, even if the war ends soon, it will take some time for the supply chain to recover and stabilise. This is expected to impact the earnings of chemical companies in the near term, Prathamesh Masdekar, equity research analyst at BP Equities, said. He expects chemical companies to see single-digit sequential degrowth in the March quarter.

 

* Of the Nifty 50 stocks, 46 rose and 4 fell

* Of the Sensex stocks, 26 rose and 4 fell

* On the NSE, 2,426 stocks rose, 855 fell, and 87 were unchanged

* On the BSE, 2,959 stocks rose, 1,357 fell, and 156 were unchanged

* Nifty Consumer Durables: up 3.5%; Nifty Realty: up 2.7%; Nifty IT: up 0.1%

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BSE                                              NSE

Sensex: 75273.45, up 1205 points or 1.6%       Nifty 50: 23306.45, up 394.05 points or 1.7%

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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: 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 93.9775

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

 

Edited by Saji George Titus

 

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