The key equity benchmarks continued to trade with substantial gains in early afternoon trade, mirroring positive trends in global markets. Traders also witnessed bargain buying amid ongoing Middle East conflict. However, sentiment remained cautious amid concerns over the ongoing US-Iran conflict, which continues to weigh on overall risk appetite. The Nifty traded above the 23,750 mark.
Auto shares witnessed buying demand for third consecutive trading session.
At 12:25 IST, the barometer index, the S&P BSE Sensex jumped 670.54 points or 0.83% to 76,703.99. The Nifty 50 index climbed 191.70 points or 0.81% to 23,770.20.
The broader market outperformed the frontline indices. The BSE 150 MidCap Index jumped 1.65% and the BSE 250 SmallCap Index rallied 1.72%.
The market breadth was strong. On the BSE, 3,140 shares rose and 870 shares fell. A total of 187 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 4.11% to 18.98.
In the commodities market, Brent crude for May 2026 settlement tumbled $2.12 or 2.05% to $101.30 a barrel. As per media reports, Iraq’s Kurdistan region resumed crude oil exports via Turkey over the weekend and as OPEC+ plans another oil output hike in November, adding to global supplies.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, dropped 4.18% to 18.96. The Nifty 30 March 2026 futures were trading at 23,788, at a premium of 17.8 points as compared with the spot at 23,770.20 .
The Nifty option chain for the 30 March 2026 expiry showed a maximum call OI of 41.4 lakh contracts at the 24,000 strike price. Maximum put OI of 51.2 lakh contracts was seen at the 23,000 strike price.
West Asia Conflict:
The Middle East war continues to escalate, keeping investors on edge. A fresh wave of attacks on the United Arab Emirates’ energy infrastructure has heightened fears of prolonged supply disruptions amid the Iran war.
The incidents followed a drone strike on the world’s largest ultra-sour gas development, a fire at the UAE’s Fujairah Oil Industry Zone, and damage to a tanker near the strategically vital Strait of Hormuz.
In latest development, Iran intensified attacks against U.S. assets in the Middle East and Israel on Wednesday in apparent retaliation against the killing of the country’s security chief Ali Larijani overnight, as the weeks-long conflict shows no signs of abating.
Buzzing Index:
The Nifty Auto index soared 2% to 25,650.15. The index surged 6.01% in the three consecutive trading sessions.
Sona BLW Precision Forgings (up 5.16%), Bharat Forge (up 3.06%), Mahindra & Mahindra (up 2.84%), Tube Investments of India (up 2.59%), Exide Industries (up 2.55%), Tata Motors Passenger Vehicles (up 2.47%), Hero MotoCorp (up 2.12%), Samvardhana Motherson International (up 1.77%), Bosch (up 1.76%) and TVS Motor Company (up 1.71%) surged.
Stocks in Spotlight:
CESC rose 0.58%. The company said that it has awarded contracts for procurement of 600 MW of wind-solar hybrid power on a long-term basis to four domestic entities.
Mankind Pharma advanced 2.07% after the company announced that it has acquired the Rivotril brand from Roche for the Indian market, with exclusive rights to manufacture, market and distribute the product across the country.