Stock Market, Sensex Today Highlights: Sensex jumps 1370 points, ends above 74K; Nifty 50 tops 22,900

The Nifty started higher following the first comments suggesting a possible de-escalation of the Middle East conflict. The index rallied sharply but encountered resistance around 23,000, where call writers had significant positions. Technically, Nifty closed with an indecisive candle, indicating that the direction of the next move remains uncertain. It appears that much will depend on Wednesday’s opening. A negative opening may create bearish sentiment in the market, while a positive opening could indicate positive sentiment for the short term.

— Rupak De, Senior Technical Analyst at LKP Securities

The domestic market witnessed a relief rally following a temporary pause in attacks on Iran’s energy infrastructure, which could lead to further leeway in easing West Asia–related tensions. However, caution persists as investors await greater clarity on the developments around the Strait of Hormuz. The resulting supply chain issues are unlikely to have a lasting impact on markets and may be limited to a one- to two-quarter disruption in earnings. Meanwhile, domestic fundamentals remain strong, supported by monetary and fiscal measures that are expected to drive demand once external uncertainties ease.

— Vinod Nair, Head of Research, Geojit Investments Limited

Broader markets closed sharply higher, and even outperformed the benchmarks. The Nifty Midcap 100 index was higher by 2.60% and the Nifty Smallcap 100 index added 2.63%.

Sectorally, all indices ended in the green, with Nifty Media, Nifty Private Bank and Nifty Auto emerging as top bets, rising 2-3%. Nifty Pharma recorded the least gains among all.

Twenty-nine of 30 Sensex stocks closed in the green today as a relief rally was underway on Dalal Street amid hopes of some de-escalation in the Middle East war.

Sensex ends at 74,068.45, up 1372.06 points or 1.82% after broad-based buying. Nifty 50, meanwhile, closed at 22,912.40, up 400 points or 1.78%.

U.S. stock index futures were down on Tuesday, after a relief rally in the previous session, as renewed doubts over easing Middle East tensions weighed on sentiment despite President Donald Trump's decision to delay strikes on Iran's power grid. At 05:21 a.m. ET on Tuesday, Dow E-minis were down 184 points, or 0.4%, S&P 500 E-minis were down 25.25 points, or 0.38%, and Nasdaq 100 E-minis were down 83 points, or 0.34%. (Source: Reuters)

According to Emkay Global Financial Services, Indian equities are currently trading at fair valuations relative to global peers, with the Nifty 50 at approximately 20x P/E—below its recent historical averages. The valuation comfort is supported by robust macroeconomic fundamentals, including expected GDP growth of 7.3–7.5% and steady earnings expansion.

After a significant correction, the Nifty 50 is currently trading at approximately 20.23x TTM P/E—well below its 1-year median of 22.30x and 10-year median of ~23.50x. This places India at a reasonable valuation relative to global peers such as NASDAQ (33.23x), Nikkei225 (22.14x), and DAX (16.49x).

XED Executive Development Limited regarding the extension of its IPO closing date to 30 March 2026. The extension has been undertaken to address KYC processing delays faced by NRI and foreign investors amid the evolving geopolitical situation in the Middle East. All other issue parameters, including price band, issue size, and listing exchanges, remain unchanged.

Amir Chand Jagdish Kumar IPO was subscribed 0.77 times, the retail portion was booked 0.22 times, and the NII segment was filled 3.06 times so far on the first day.

GSP Crop Science shares gained as much as 9.02% from its listing price to touch a high of ₹362.30 apiece on the BSE. At this level, it was up 13.21% from its issue price. On NSE, GSP Crop Science shares surged 10.67% from its listing price and 13.43% from its issue price to a high of ₹363.00 apiece.

Nifty IT index jumped 2.4%, with Persistent Systems, Tech Mahindra, LTIMindtree and Infosys leading the gains.

The signs of de-escalation in the US-Iran war is seen as a strong positive for India and analysts say OMCs, private banks, NBFCs, and autos are the best ways to play the stock market recovery. Emkay Global sees this as the bottom for the markets and maintains December 2026 Nifty 50 target of 29,000.

The Indian stock market recovered on Tuesday, with both the benchmark indices trading more than 2% higher. The BSE Sensex rallied 1,618.70 points, or 2.23%, to trade at 74,315.09, while the Nifty 50 was up 485.95 points, or 2.16%, at 23,000.35.

Most emerging Asian equities rose back to early session highs as investors traded cautiously while weighing the economic fallout from the Middle East conflict after Iran denied talks with the US to end the war.

South Korea’s KOSPI index jumped more than 4% early in the session, but closed up 2.7% in Seoul. Stocks in Taiwan reversed course to end down 0.3% after rising as much as 2%. The broader MSCI EM Asia equities index remained up 2%, with gains tempered by mixed moves in the two tech-heavy markets. MSCI's Asia-Pacific ex-Japan index rose 1.6%, Reuters reported.

Sai Parenteral’s IPO has been subscribed 2% so far till 12:40 PM on Tuesday, the first day of the bidding process, NSE data showed. The Retail Individual Investors (RIIs) segment was booked 2%, while the Non Institutional Investors (NII) category was subscribed 5%. The Qualified Institutional Buyers (QIBs) are yet to bid for the Sai Parenteral’s IPO.

Coal India said it will sell up to 25% each in its units South Eastern Coalfields (SECL) and Mahanadi Coalfields (MCL) through initial public offerings or other routes. SECL will also issue new shares worth up to 10% of the post-issue share capital. Coal India share price was trading 2.62% lower at ₹443.45 apiece on the BSE.

Gold prices have eased significantly from their all-time high levels. They have not only erased all the gains amassed in the ongoing calendar year, but also entered the bear territory. However, this cooling off in prices could set the stage for gold to cross above the $11,000 mark, predicts Peter Schiff, Chief Economist & Global Strategist at Europac.

His optimism stems from the trend last seen during the 2008 global financial crisis (GFC), when the bullion, like this time, melted and acted against its nature of safe-haven edge amid geopolitical and macroeconomic crisis.

Blue Cloud Softech Solutions share price rose by 6.5% on Tuesday, March 24, after announcing it received a purchase order from Central Electronics Limited (CEL), a Government of India enterprise, for the implementation of its Access Genie AI platform within the Telangana Arogyasree healthcare system.

Central bank demand for gold is expected to remain strong in 2026, driven by rising geopolitical risks and diversification away from the US dollar, according to the World Gold Council. Recent buyers include Guatemala, Indonesia, and Malaysia, with some banks entering the market after long gaps. Gold prices reached a record near $5,600 in January, while central banks accounted for about 17% of total demand in 2025. The WGC forecasts purchases at 850 metric tons in 2026, slightly lower than 863 tons last year, as elevated prices may limit fresh buying despite continued strategic interest.