Stock Market Today Highlights: Sensex ended 568 points higher, Nifty above 23,550; metal, auto sectors soar

Market Wrap by Ajit Mishra – SVP, Research, Religare Broking

"Markets extended their recovery for the second consecutive session on Tuesday, supported by value buying and relatively stable global cues, although volatility persisted. The Nifty opened firmly and traded within a range for most of the session.

However, buying momentum strengthened, particularly in the latter half, helping the index close at 23,581.15, gaining around 0.74% for the day.

Sectoral participation remained largely positive. Metal, auto and realty stocks were among the key gainers, while IT and FMCG traded lacklustre and ended with marginal losses.

The broader markets also participated in the recovery, with midcap and smallcap indices gaining around 0.75–1%, indicating improving market breadth.

Apart from relatively stable global markets, optimism surrounding the partial normalization in global supply chains and stability in the rupee supported the rebound.

However, elevated crude oil prices—still hovering above the $100 mark—continue to pose a key overhang. Persistent FII outflows are also keeping participants cautious despite the near-term bounce.

We view this rebound as a mean-reversion move following the sharp decline in the Nifty index. The index has the potential to extend the rebound towards the 23,800–24,000 zone, while the 23,200–23,000 range is likely to remain a strong support area.

Meanwhile, we maintain our view to avoid aggressive positioning, stay selective and focus on disciplined risk management until stability appears in both crude oil prices and global markets."

Vinod Nair, Head of Research, Geojit Investments said:

"The market extended its gains, driven largely by bargain hunting by domestic investors. Cyclical sectors such as autos, metals, and financials continued to be leaders rebounding after being among the worst affected during the sell-off. However, it is premature to conclude that this reversal is sustainable in the short term, as war-related uncertainties persist.

Whereas from a long-term perspective, deploying funds appears reasonable, given the correction in India's premium valuations and the intact outlook for FY27. Regarding the upcoming FOMC meeting, expectations remain muted with a likely status quo on rates, which is unlikely to materially influence market sentiment, as attention is more focused on de-escalation in the Iran war."

Vatsal Bhuva, Technical Analyst at LKP Securities said:

"After taking support near 53,250, the index witnessed a recovery following the sharp decline seen in recent sessions from its highs. On the hourly chart, RSI has moved into a bullish crossover, indicating improving momentum. The index may extend its recovery towards the 38.2% Fibonacci retracement level and its 10-day moving average zone around 56,200.

However, a sustained bullish stance should only be considered once the index reclaims this average. For now, the move is likely a recovery, not a reversal, warranting a cautious approach. Immediate resistance is at 55,200, while support lies near 53,900–54,000."

Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities said:

“Gold traded near $5000, marginally higher, but continues to witness range-bound volatility as markets remain cautious ahead of the US Fed policy decision due tomorrow late evening. Expectations from the Fed remain subdued, with little scope for dovish commentary, especially as elevated crude oil prices keep inflationary pressures intact.

Higher energy prices may delay rate cuts, which is limiting upside in gold and keeping the broader trend weak on charts. On MCX, gold is expected to trade within a range of ₹154000– ₹158000, with a slight negative bias unless a supportive trigger emerges from the Fed outcome."

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities said:

"The relief rally that started from the lows of 22955 on Monday has extended on Tuesday and Nifty closed the day higher by 172 points amidst volatility. After opening on a positive note, Nifty continued to surge higher for better part of the session. The crucial resistance of Monday's opening upside gap has been filled completely around 23550 levels and Nifty closed around it.

A reasonable positive candle has been formed on the daily chart with minor upper and lower shadow. Technically, this market action indicates a formation of high wave type candle pattern after a rise and at the immediate hurdle. This could be a challenging factor bulls to sustain above 23600-23700 levels in the short term.

The underlying short term trend of Nifty is positive, but the market is not completely out of danger, unless it closes above 23600-23700 levels in the short term. Any failure to sustain the highs could possibly form a new lower top in the market and subsequent weakness. Immediate support is placed at 23350 levels."

Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities said:

"Rupee traded weak by 0.08% at 92.38, pressured by a firm dollar index hovering near 100, along with elevated crude oil prices close to $100, which continue to strain India’s import bill. The combination of strong dollar demand and rising energy costs is keeping the rupee under pressure.

The overall bias remains weak as long as crude sustains at higher levels. Market focus now shifts to the US Fed policy decision due tomorrow late evening, which is expected to act as a key trigger for the next directional move in the dollar, and consequently, the rupee."

The rupee declined 12 paise to settle at an all-time low of 92.40 (provisional) against the US dollar on Tuesday, pressured by rising crude oil prices and sustained outflow of foreign funds amid the West Asia crisis.

A positive trend in domestic equity markets also helped the domestic currency at the lower level, even as investors remained watchful of the US Federal Reserve's interest rate decision, forex traders said.

At the interbank foreign exchange, the local unit opened at 92.35 and hit the lowest intra-day level of 92.47 against the greenback. The unit finally ended at a new lifetime low of 92.40 (provisional), registering a loss of 12 paise from the previous closing level.

Despite a marginal gain of 2 paise on Monday, the local unit ended the session at a near record low of 92.28 against the dollar.

Nilesh Jain, VP- Head of Technical and Derivative research at Centrum Finverse said:

"The markets continued their upward momentum for the second straight session, with the Nifty closing above the 23,500 mark. The index is rebounding from oversold levels, and we anticipate a gradual recovery towards the 23.6% retracement of the recent decline, placed around 23,800. However, the broader trend remains weak as long as Nifty sustains below 24,250 levels. On the downside, immediate support is now placed at 23,250, followed by 23,000 levels. Meanwhile, India VIX declined sharply by around 9% and slipped below the 20 mark; a further easing in volatility would lend additional comfort to the bulls."

Indian stock market benchmark indices Sensex and Nifty ended 0.7% higher on Tuesday, March 17, following gains in global peers. Meanwhile, investors remained on edge amid lingering concerns over the ongoing US-Iran conflict in the Middle East, a sharp rise in crude oil prices, and continued strength in the US dollar, all of which have weighed on risk appetite.

Sensex ended 568 points or 0.75% higher at 76,071 while Nifty rose 172 points or 0.74% to settle at 23,581.

Among sectors, Nifty Auto and Nifty Metal were leading while Nifty IT and Nifty FMCG lost the most.

Power Finance Corporation (PFC) share price rallied over 2% on Tuesday after the company’s board announced an interim dividend and raising of funds for FY27 through bonds, term loans, commercial Paper (CP) etc. from domestic and international markets. PFC share price gained as much as 2.37% to ₹416.15 apiece on the BSE.

PFC board of directors at their meeting held today, March 17, approved a fourth interim dividend of ₹3.25 per equity share on the face value of the paid-up equity shares of ₹10 per share each for FY 2025-26.

PFC dividend record date has been fixed as 23 March 2026, Monday, for the purpose of ascertaining the eligibility of shareholders for payment of the fourth interim dividend. The dividend payment date shall be on or before 16 April 2026, the company said in a regulatory filing on March 17.

Shares of Infosys, the country's second-largest software maker, came under renewed selling pressure in Tuesday's session, March 17, falling nearly 3% to ₹1,215, marking the lowest level since April 2023, as the sell-off in tech stocks continued to expand even as the broader market showed signs of recovery.

Today's decline has brought the stock’s month-to-date fall to 5%, following a sharp 21% crash in February, which was also the steepest monthly decline the stock has seen in over a decade.

The sustained sell-off has wiped out ₹1,72,530 crore from the company’s market capitalisation in less than two months, bringing it below the ₹5 lakh crore mark to around ₹4.92 lakh crore at today’s low. At its peak, the company was valued at ₹8.37 lakh crore. Read more

Budget airline SpiceJet told the Delhi high court on Tuesday that it faces a severe liquidity crunch and is unable to deposit ₹144.5 crore as directed in its ongoing arbitration dispute with Kalanithi Maran and KAL Airways Pvt. Ltd.

Almost 40% of SpiceJet’s flights to Gulf destinations have been cancelled due to the ongoing war, worsening its financial position, the carrier said in a submission made before a bench of Justice Subramonium Prasad.

SpiceJet had filed a fresh plea seeking relief from the direction to deposit ₹144 crore within six weeks to comply with its payment obligations to Maran and KAL Airways. Read more

Shares were mixed across Europe and Asia on Tuesday after a decline in oil prices lifted sentiment, helping Wall Street log its strongest session since the Iran war began.

In Asia, Tokyo’s Nikkei 225 erased early gains to slip 0.1% to 53,700.39, while South Korea’s Kospi surged 1.6% to 5,640.48.

Hong Kong’s Hang Seng edged up 0.1% to 25,668.54, whereas the Shanghai Composite declined 0.9% to 4,049.91.

Australia’s S&P/ASX 200 advanced 0.4% to 8,614.30 after the central bank raised its benchmark interest rate to 4.1%. Taiwan’s Taiex climbed 1.5%, and India’s Sensex gained 0.6%.

On Wall Street, the S&P 500 rose 1%, marking its biggest gain in five weeks. The Dow Jones Industrial Average added 0.8%, while the Nasdaq Composite jumped 1.2%.

Market movements have largely been driven by oil prices, which have surged from around USD 70 per barrel before the United States and Israel launched attacks on Iran. In response, Iran has nearly halted traffic through the Strait of Hormuz — a critical route through which about one-fifth of the world’s oil supply typically passes from the Persian Gulf to global markets. This disruption has led oil producers to cut output as supply routes remain constrained.

A fresh wave of bold predictions has gripped financial markets after noted author and investor Robert Kiyosaki warned of what he described as the “biggest bubble” in history nearing its breaking point. His remarks come at a time when global markets are already grappling with geopolitical tensions in the Middle East, rising commodity prices, and uncertainty around central bank policies.

He went on to make some of his most aggressive forecasts yet, predicting a sharp surge in asset prices following a crash. According to him, gold could reach $35,000 per ounce, silver could climb to $200, Bitcoin may surge to $750,000, and Ethereum could hit $95,000 — all within a year after the next financial meltdown. Read more

The initial public offering (IPO) of Coal India subsidiary — Central Mine Planning — is poised to hit the Indian primary market this week, marking the divestment in just three months by the Maharatna company.

The IPO of Bharat Coking Coal (BCCL), another Coal India subsidiary, opened earlier this year, garnering bumper demand of 143.85 times from investors and nearly doubling investors' money in a short span despite weak market sentiment. The company announced its price band on Monday at ₹163-172 per share, following which the grey market premium (GMP) spiked. According to websites tracking the unofficial market, Central Mine Planning IPO GMP today is ₹22, suggesting a listing gain of 12.8% if the trend holds.

European shares were little changed on Tuesday as investors assessed the economic damage from a prolonged Middle East conflict.

The pan-European benchmark STOXX 600 was flat at 598.11 points by 0807 GMT, hovering over more than two-month lows.

Defense stocks weighed heavily on the index with a 0.8% fall while utilities, often traded as bond proxies, rose 0.7%.

Energy companies such as Shell continued to climb with a 1% rise as crude prices remain north of $100 per barrel.

War in the Middle East showed no signs of slowing down with Iran launching fresh attacks on the United Arab Emirates. (Reuters)

Paisalo Digital share price saw a sharp rebound from its day’s low level on Tuesday, driven by strong buying momentum. The smallcap stock opened lower at ₹34.78 apiece as against its previous close of ₹35.27 per share on the BSE on March 17.

The NBFC stock touched an intraday low of ₹33.55 apiece, but rallied as much as 5.06% from that level to hit a high of ₹35.25 apiece on the BSE.

Paisalo Digital said that it has obtained an additional external credit rating from Brickwork Ratings India Private Limited for its proposed Non-Convertible Debentures (NCDs). The rating agency has assigned a long-term rating of ‘BWR AA / Stable’ for the company’s proposed ₹1,500 crore NCD issuance, supplementing the company’s existing rating from Infomerics Analytics and Research Private Limited.

Vodafone Idea, Tata Silver Exchange Traded Fund, Mangalore Refinery and Petrochemicals (MRPL), YES Bank, Eternal, ITI, Dharan Infra-EPC, Adani Power, Tata Gold Exchange Traded Fund, Suzlon Energy, and Bajel Projects were among the most traded stocks, or most active stocks in terms of volume, on the NSE.

Nippon India Silver ETF, IDBI Bank, Jaiprakash Power Ventures, Filatex Fashions, Ola Electric Mobility, SEPC, R M Drip and Sprinklers Systems, Cyient DLM, and GTL Infrastructure were also among the most traded stocks on the NSE. Read more

Shares of Samvardhana Motherson International rose by 2.5% on Tuesday, March 17, after the company provided an update regarding its acquisition strategy aimed at enhancing its international presence.

Through its indirectly owned subsidiary Motherson Global Investments B.V., the company is in the process of acquiring an 81% stake with voting rights in Yutaka Giken Co, along with an 11% stake in Shinnichi Kogyo Co Ltd.

As part of the transaction framework, a crucial step involved the acquisition of complete ownership in Yutaka Autoparts India Private Limited (YAIPL). The company had previously signed a Share Purchase Agreement (SPA) on March 11, 2026, and has now successfully finalized the transaction on March 16, 2026, after meeting all required conditions.

With the completion of this process, YAIPL has become a fully owned subsidiary of the company, representing an important advancement in strengthening its position in global automotive component markets, said the company in an exchange filing.

Gold, Silver prices inched higher on Tuesday, supported by easing concerns over extended disruptions to oil shipments, as investors continued to evaluate the economic fallout of the Middle East conflict ahead of a busy week of central bank decisions.

Spot gold rose 0.2% to $5,013.71 per ounce as of 0644 GMT, while US gold futures for April delivery gained 0.3% to $5,018.10. Among other precious metals, silver advanced 0.3% to $80.97 per ounce, platinum climbed 0.9% to $2,133.93, and palladium slipped 0.2% to $1,595.75.

Indian government bonds declined in early trade on Tuesday, pressured by heavy state debt supply toward the end of the financial year and by oil prices that held well above $100 a barrel. The benchmark 6.48% 2035 bond yield was at 6.7118% as of 10 a.m. IST, after ending the previous session at 6.7059%. Bond yields move inversely to prices. Indian states plan to raise 584.20 trillion rupees ($6.33 trillion) through the sale of debt on Tuesday. The amount not only exceeds the indicative calendar by 145 billion rupees, but is also the highest since March 2025. (Reuters)

Shares of Adani Power rose over 2% on Tuesday, extending their recent gains, as the stock continued to rally on the back of a major order win and improving demand outlook.

The Adani Group stock climbed to ₹157.50, marking its highest level in three months, after surging more than 5% in the previous session following the announcement of a Letter of Award (LoA) from Maharashtra State Electricity Distribution Company. With this, the stock has gained 7.5% over the last two trading sessions.

The rally has also been supported by expectations of higher electricity demand, as temperatures are forecast to remain above normal levels this summer, boosting power consumption across the country.

Shares of IDBI Bank fell another 3% on Tuesday after plunging 17% in the previous session, following a report that the government may halt the lender’s divestment process and scrap existing bids, as per media reports. The setback to the strategic sale comes as financial bids reportedly fell short of the government’s floor price, the reports added. If the Centre proceeds with the divestment, it may need to restart the bidding process. The stock has now declined over 19% in just two sessions and is nearing its 52-week low of ₹72 per share.

Bitcoin prices rose to nearly a six-week high on Tuesday, March 17, as investors lapped up riskier assets, driven by optimism that market volatility linked to the Middle East conflict may be easing.

The world’s largest cryptocurrency rose more than 4% to $75,921 — its highest level since February 4 — before trimming some gains. Despite the gains, Bitcoin remains roughly 40% below its record peak reached in October.

Smaller and more volatile digital assets posted even sharper gains. Solana and XRP each surged as much as 7%, while Ether, the second-largest cryptocurrency, jumped up to 10% — more than double Bitcoin’s rise. Ether’s rally, its strongest since March 4, pushed the token to the highest level since early February.

Maharatna PSU power financier REC Limited on Monday announced a fourth interim dividend of ₹3.20 per share and fixed Friday, March 20, as the record date to determine eligible shareholders.

"...this is to inform that the Board of Directors ofREC Limited ("REC" / "the Company") in its meeting held on March 16, 2026, considered and declared 4"' interim dividend @ 32% (i.e. ~3.20 · per equity share offace value oHlO/ - each) for the financial year 2025-26," it informed in an exchange filing.

The company further stated that the dividend will be paid on or before April 14. The decision was approved at its board meeting and disclosed during market hours, with the stock trading marginally higher at ₹332.65 on the NSE.

Reliance Industries has signed a $3 billion (approximately ₹27,665 crore) binding long-term Supply and Purchase Agreement (SPA) with South Korea's Samsung C&T Corporation for the supply of green ammonia over a 15-year period from H2FY29.

In a statement on Monday, 16 March, Reliance said the agreement “sets a new benchmark in the global energy landscape, with India emerging as an exporter of green fuels produced through an end-to-end indigenous value chain anchored in the country”.

Anant Ambani, Executive Director at RIL, said the green ammonia supplied would be “cost-competitive and reliable” and called the partnership “an important step in India’s clean-energy journey”. Read more

Oil prices rose more than 2% on Tuesday, reversing some of the previous session's losses, on worries about supply with the Strait of Hormuz mostly shut and U.S. allies rebuffing calls to send warships to help tankers move through the vital waterway.

Brent futures jumped $2.74, or 2.7%, to $102.95 a barrel by 0357 GMT, while U.S. West Texas Intermediate crude gained $2.45, or 2.6%, to $95.95.

In the previous session, Brent futures settled 2.8% lower while U.S. West Texas Intermediate (WTI) crude slid 5.3% after some vessels sailed through the critical waterway.

The Strait of Hormuz - a chokepoint for about 20% of the world's oil and liquefied natural gas trade - has been largely disrupted by the U.S.-Israeli war on Iran, now in its third week, raising concerns about supply shortages, higher energy costs and rising inflation. (Reuters)

Stock Market Today LIVE: Redington share price declined over 5% in early trade on Tuesday after the company said its operations in the Gulf region have been restricted due to the ongoing US–Iran war. Redington shares slipped as much as 5.08% to ₹221.05 apiece on the BSE.

Redington’s step-down subsidiary, Redington Gulf FZE stated that its operations in the Gulf region are being pursued in a restricted manner amid the prevailing geopolitical tensions.

The company cited several challenges impacting its operations, including the re-routing of shipments and the closure of major ports and airspace, which have resulted in longer transit times. It also highlighted the need for higher working capital due to increased inventory levels and customer requests for extended payment timelines. In response, the business is prioritising capital preservation.

The rupee lost 14 paise and traded at 92.42 against the US dollar in early deals on Tuesday, as it failed to resist pressure from rising crude oil prices and the incessant withdrawal of foreign funds amid the heightened West Asia crisis.

Subdued domestic equity markets and elevated American currency also weighed on the local unit even as investors moved cautiously, awaiting the interest rate decision of the US Federal Reserve, according to forex traders.

At the interbank foreign exchange, the local unit opened at 92.35 and fell further to trade at 92.42 against the US dollar, registering a 14-paise decline from its previous closing level.

The rupee, one of the worst-performing Asian currencies, touched its lowest intra-day level of 92.47 at the end of the previous week before closing the session at 92.30 against the dollar, its lowest-ever closing level until Friday. (PTI)

Gold and Silver prices jumped on Tuesday, March 17 supported by easing concerns over prolonged disruptions of crude oil shipments amid prolonged US-Iran conflict. Meanwhile, investors awaited multiple central bank policy decisions this week.

On MCX, silver rate rose 2% to ₹2,61,457 per kg while gold price advanced 0.8% to ₹1,56,996 per 10 grams.

In the international markets, Spot silver rose 0.6% to $81.28 per ounce, while, Spot gold firmed 0.4% to $5,023.19 per ounce as of 0251 GMT. U.S. gold futures for April delivery rose 0.5% to $5,027.20.

VK Vijayakumar, Chief Investment Strategist, Geojit Investments said:

"With total uncertainty and confusion regarding the trend of the war continuing, this uncertainty is getting reflected in the market, too. Even seasoned experts lack conviction to advise investors on the right strategy. All that can be said with conviction now is: remain invested and continue with SIPs.

Nifty’s sharp bounce of 257 points yesterday was triggered mainly by short-covering from oversold territory. This bounce back is unlikely to sustain, given the massive selling by FIIs which touched ₹9366 crores yesterday. In the near-term this FII selling will continue since other markets like the South Korean and Taiwanese markets are giving better returns to FIIs. More importantly, the earnings growth prospects in these markets look much better compared to India’s. In brief, the sustained FII selling is likely to weigh on markets in the near-term."

Indian stock market benchmark indices Sensex and Nifty opened on a weak note on Tuesday, March 17, despite positive cues from global peers, as investor sentiment remained subdued. The cautious tone comes amid lingering concerns over the ongoing US-Iran conflict in the Middle East, a sharp rise in crude oil prices, and continued strength in the US dollar, all of which have weighed on risk appetite.

At 9:20, Nifty fell 24 points or 0.1% to 23,384.40 while Sensex lost 80 points and 0.11% to 75,422.47.

Bank Nifty index ended 655.55 points, or 1.22%, higher at 54,413.40 on Monday, forming a bullish candle with a long lower shadow and a minor upper shadow, indicating strong buying interest at lower levels.

“The daily RSI has also shown a pullback after marking low of 23, hinting at a short term recovery. Going ahead, the 54,900 – 55,000 zone will act as a key hurdle for the Bank Nifty index. A sustained move above 55,000 could extend the pullback rally towards the 55,500 level. On the downside, 54,000 – 53,900 is expected to serve as a crucial support zone,” said Sudeep Shah - Head of Technical and Derivatives Research at SBI Securities.

Nilesh Jain, VP- Head of Technical and Derivative research at Centrum Finverse Ltd. noted that the markets are likely to remain volatile, but expects a gradual recovery, with Nifty 50 potentially retracing towards 23,800, which represents the 23.6% retracement of the entire decline.

“Momentum indicators and oscillators have entered extremely oversold territory, indicating the possibility of a pullback. However, the broader structure remains weak, and any pullback is likely to attract selling pressure. Meanwhile, the volatility index, INDIAVIX, cooled off by around 5% but continues to remain elevated above 21. A correction below 18 will be required for bulls to regain control,” said Jain.

In the derivatives segment, significant call writing was observed at the 23,500 strike followed by the 23,700 strike, while notable put writing was seen at the 23,200 and 23,000 strikes.

“Considering the ongoing geopolitical tensions, traders are advised to remain cautious near the key support and resistance levels and wait for a clear breakout on either side before initiating fresh directional trades,” said Aakash Shah, Technical Research Analyst at Choice Equity Broking.

Sensex formed a bullish candle on daily charts, indicating that a pullback move is likely to continue in the near future.

“For day traders, 75,200 and 75,000 would act as key support zones. As long as Sensex is trading above these levels, the pullback formation is likely to continue. On the higher side, 76,000 and 76,500 would serve as key resistance areas for the bulls. Conversely, below 75,000, the uptrend would become vulnerable. If that level is breached, the index could retest the levels of 74,300 - 74,000,” said Shrikant Chouhan, Head Equity Research, Kotak Securities.

According to him, the current market texture is volatile, and hence, level-based trading would be the ideal strategy for day traders.

On Monday, the Indian stock market ended with sharp gains, led by fag-end buying in financials, auto, and FMCG stocks, despite persisting geopolitical risks.

The Sensex jumped 938.93 points, or 1.26%, to close at 75,502.85, while the Nifty 50 settled 257.70 points, or 1.11%, higher at 23,408.80.

“Markets recovered, however, volatility is likely to continue as investors remain cautious amid ongoing geopolitical developments in West Asia and fluctuations in energy prices. The conflict continues to weigh on sentiment and keep overall risk appetite subdued,” said Siddhartha Khemka - Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd.

Crude oil prices rose more than 2%, reversing some of the previous session’s losses, on worries about supply with the Strait of Hormuz mostly shut. Brent crude oil price rose 2.81% to $103.06 a barrel, while the US West Texas Intermediate (WTI) crude futures rallied 2.97% to $96.28.

Bitcoin prices rose to nearly a six-week high amid improved investors’ risk appetite. The largest cryptocurrency climbed about 4% to $74,512, the highest since February 4 before paring some of the gains. Bitcoin price is still down around 40% from a record high reached in October. Ether price rose as much as 10%, while Solana and XRP prices rose as much as 7%.

Gold was little changed, after the US dollar slipped and traders weighed attempts to contain an oil-supply shock arising from the war in the Middle East.

Bullion was near $5,000 an ounce in early trading, having lost 0.3% in the previous session. Oil rose after falling on Monday, with investors assessing the release of emergency stockpiles against rising threats to energy infrastructure, while a gauge of the dollar fell 0.6%. US President Donald Trump appealed for help from other nations to secure the Strait of Hormuz, where crude transit has ground to a near-halt. (Bloomberg)

Sensex formed a bullish candle on daily charts, indicating that a pullback move is likely to continue in the near future. Nifty 50 index formed a bullish candle with shadows in either direction, signaling pullback from the oversold territory. In the derivatives segment, significant call writing was observed at the 23,500 strike followed by the 23,700 strike, while notable put writing was seen at the 23,200 and 23,000 strikes.