Stock Market Today Highlights: ₹5 lk cr added! Sensex jumps 633 pts, Nifty at 23,778 ahead of US Fed rate decision

Market Wrap by Vinay Rajani, Senior Technical Research Analyst, HDFC Securities:

The Nifty climbed 196 points to close at 23,777, marking its third consecutive gain. It opened 51 points higher, steadily added to intraday gains until noon, and touched a day's high of 23,862. Profit booking erased over 130 points in the final hour, yet NSE cash market volumes held steady versus the prior session.

Top gainers included Jio Financial, Eternal, Tech Mahindra, and HCL Tech, while Cipla, Coal India, and HUL led the laggards amid selling pressure.

All sectoral indices closed in the green—except Nifty FMCG and Metals—with Media, IT, and Realty posting the strongest advances.

Midcaps and Smallcaps outperformed, as the Nifty Midcap 100 rose 2.02% and the Nifty Smallcap 100 gained 1.67%. Market breadth stayed positive for the second day, with the BSE advance-decline ratio hitting 2.91, underscoring broad-based bullishness.

The Indian rupee hit a record low, breaching 92.50 amid thin dollar liquidity ahead of a bank holiday. Aggressive importer demand overshadowed strong risk appetite and softer crude prices, triggering a sharp sell-off.

From the recent swing low of 22,953, Nifty has recovered over 900 points and reclaimed levels above its 5-DEMA (23,664) for the first time since February 26, 2026. Still, it lags the 20- and 50-DEMA, signaling the primary downtrend persists and could prompt profit booking. Resistance now lies at 23,860–24,000, with support shifting higher to 23,350.

Shrikant Chouhan, Head Equity Research, Kotak Securities:

Technically, after a positive open, the market held positive momentum throughout the day. An uptrend continuation formation on intraday charts and a bullish candle on daily charts indicate a further uptrend from the current levels.

We are of the view that the market has completed one leg of the pullback rally, and we could see some profit booking at higher levels. For day traders, buying on intraday dips and selling on rallies would be the ideal strategy. On the downside, 23,600/76000 and 23,500/75700 would be the immediate support zones, while 23,950–24,000/77000-77300 could act as crucial resistance areas for the bulls. However, below 23,500/75700, the sentiment could change. If the index falls below this level, traders may prefer to exit their long positions.

Vinod Nair, Head of Research, Geojit Investments Limited

"Domestic markets extended their recovery, supported by opportunistic buying after the recent sell-off. The rebound was broad-based, driven by a combination of short covering and value buying, with leadership from IT, realty, and auto sectors, alongside strength in mid- and small-cap stocks. Long-term value persists, however, near-term upside remains constrained due to ongoing geopolitical tensions, elevated crude prices, and continued rupee depreciation.

Investors are now awaiting policy decisions from major global central banks—including the Fed, ECB, BoJ, and BoE—where guidance will be crucial in assessing the impact of the US–Iran conflict on the future interest rate outlook."

Broader markets outperformed today. Nifty Midcap rallied 2% while Nifty Smallcap index umped 1.67% in today's deals

The rally in the BSE added around ₹5 lakh crore to the total market capitalisation of BSE-listed companies, taking it to more than ₹438 lakh crore from ₹443 earlier.

The Indian stock market benchmark indices Sensex, Nifty 50 ended 0.8% each on Wednesday, March 18 following gains in global markets as oil prices fell. Meanwhile, investors now focussed on the US Federal Reserve's interest rate decision due later today. However, caution over the ongoing US-Iran war in the Middle East remained.

Sensex ends 633 points or 0.83% higher at 76,704 while Nifty jumped 196 points or 0.83% to settle at 23,778. In intra-day deals, Sensex soared 858 points or 1.1% to day's high of 76,929.30 while Nifty 50 jumped 255 points to day's high of 23,836.

A sharp surge in crude oil prices to $200 per barrel could have far-reaching consequences across asset classes, from equities to precious metals. Such a spike would not only intensify inflationary pressures globally but also reshape investor sentiment, central bank actions, and capital flows. Analysts believe that while commodities like gold and silver could see strong upside amid rising uncertainty, equity markets—especially in oil-importing economies like India—may face significant stress. read more

The Indian rupee slipped to a record low of ₹92.50 for the first time ever on Monday, March 18 extending its recent weakness as escalating tensions in the Middle East kept crude oil prices elevated, heightening economic risks for India and weighing on capital inflows.

The currency weakened to 92.50 against the US dollar, breaching its previous all-time low of 92.4750 recorded last week.

The US Federal Reserve began its two-day policy meeting on March 17, with the outcome slated to be announced later tonight, March 18. The Federal Reserve meeting comes against the backdrop of the US-Iran conflict, which has heightened uncertainty in the global economy.

Fed's policy statement is set to be released at 2 p.m. ET on March 18, followed by a press conference by Jerome Powell.

Investors can watch US Fed chairman Jerome Powell’s press conference address via the official live stream on the US Federal Reserve’s website: https://www.federalreserve.gov/.

His speech will also be broadcast live on the Federal Reserve’s official YouTube channel on Wednesday at this link — https://www.youtube.com/federalreserve.

For investors in India, the announcement is scheduled for 12:30 a.m. IST on March 19—an hour later than usual due to Daylight Saving Time in the US.

The rally in the BSE added around ₹7 lakh crore to the total market capitalisation of BSE-listed companies, taking it to more than ₹440 lakh crore from ₹443 earlier.

European shares extended their rebound on Wednesday as retreating crude prices boosted sentiment, while investors also awaited an interest rate decision from the U.S. Federal Reserve.

The pan-European benchmark STOXX 600 was up 0.5% to 605.59 points by 0810 GMT. The index gained for a third straight session, its longest such streak in a month.

Global markets rallied as oil prices paused gains, even as hostilities intensified between Israel and Iran following the killing of Tehran's security chief.

Energy sector edged 0.3% lower, on track to snap an eight-day winning streak on crude's pullback, while financial stocks provided the biggest boost to the benchmark.

Vodafone Idea, Jaiprakash Power Ventures (JP Power), Urban Company, MMTC, Filatex Fashions, Tata Silver Exchange Traded Fund, Ola Electric Mobility, Eternal, GTL Infrastructure, YES Bank, Tata Gold Exchange Traded Fund, SEPC, and Suzlon Energy were among the most traded stocks, or most active stocks in terms of volume, on the NSE. Nippon India Silver ETF, IDBI Bank, Gokul Agro Resources, JBM Auto, Reliance Power, Nippon India ETF Nifty IT, and Nippon India ETF Gold Bees were also among the most traded stocks on the NSE. (Read more)

luminium fell on Wednesday as supply fears eased after Emirates Global Aluminium (EGA) secured alternative export routes, following the shutdown of the Strait of Hormuz amid the U.S.-Israeli war on Iran.

The most-active aluminium contract on the Shanghai Futures Exchange eased 0.98% to close daytime trade at 24,800 yuan ($3,608.06) a metric ton.

The benchmark three-month aluminium on the London Metal Exchange declined 1.04% to $3,364 a ton as of 0712 GMT.

EGA will route its aluminium exports and raw materials through Oman's Port of Sohar in the coming days, Reuters reported on Tuesday, as the crucial Strait of Hormuz remains effectively shut.

South Korean shares rose 5% on Wednesday to close at their highest level in nearly three weeks, as the country's president vowed more reforms to unlock the value of the domestic market. The benchmark KOSPI closed up 284.55 points, or 5.04%, at 5,925.03, the highest since February 27.

President Lee Jae Myung held a meeting with analysts, institutional investors and listed company officials to discuss ways to improve the country's stock market. During the meeting, the KOSPI triggered a sidecar trading curb.

The Financial Services Commission said at the meeting that it would prepare specific plans to ban dual listing of parent companies and subsidiaries. It also said it would expand market-stabilising programmes if needed. Chipmaker Samsung Electronics rose 7.53%, as its co-CEO said the chip industry was entering an "unprecedented supercycle". Peer SK Hynix gained 8.87%. (Reuters)

Perplexing market participants, the Indian stock market witnessed healthy buying across segments in intraday trade on Wednesday, 18 March, despite a raging war in the Middle East, elevated crude oil prices, and the rupee's weakness. The Sensex and the Nifty are up for the third consecutive session. Over these three sessions, the 30-share pack has gained more than 2,350 points, or over 3%, while the NSE counterpart has jumped nearly 700 points, or almost 3%.

The overall market capitalisation of BSE-listed firms jumped to more than ₹438 lakh crore on Wednesday from nearly ₹430 lakh crore on Friday, increasing investors' wealth by more than ₹8 lakh crore in three consecutive sessions. Read more

Multibagger small-cap IT stock under ₹50 Blue Cloud Softech Solutions surged 6% on Thursday, March 18 following a rally in overall IT space and the broader Indian stock markets.

The Nifty IT index jumped over 4% in trade today on profit booking snapping its six-day losing run. All constituents in the IT pack were trading in the green, rising as much as 5%. Meanwhile, the benchmark indices Sensex and Nifty also advanced around 1% each in trade today.

The small-cap stock soared as much as 6% to its day's high of ₹19.70.

Despite today's rise, the small-cap stock continues to trade well below its peak levels. Blue Cloud Softech Solutions is still 48% lower than its 52-week high of ₹38, which was recorded in November 2025. Meanwhile, it had touched its 52-week low of ₹14.95 in April 2025.