Indian Equities Rebound: Markets Close Above 22,900 With Sensex Surging 1,372 Points

Indian Market Rebounds Sharply on March 24

The Indian benchmark indices, Sensex and Nifty, ended the volatile session with solid gains on March 24, tracking geopolitical developments after U.S. President Donald Trump announced a temporary pause on strikes targeting Iran's power infrastructure. Despite Iran's denial of any such negotiations, the market remained optimistic.

Key Figures:

• Sensex: up 1,372.06 points or 1.89 percent at 74,068.45
• Nifty: up 399.75 points or 1.78 percent at 22,912.40
• Market Capitalisation: jumped nearly Rs 8 lakh crore to Rs 423.16 lakh crore

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The broader indices outperformed the main indices, with Nifty mid and smallcap indices rising 2.6% each. The Indian rupee recovered some lost ground, touching an intraday high of 93.63, but pared most of its gains to settle marginally higher at 93.87 against the previous close of 93.97.

Sectoral Performance:

• Auto, IT, metal, media, bank, consumer durables, PSU Bank, Private bank, infra, consumer durables: up 2% each
• L&T, Interglobe Aviation, Asian Paints, Eternal and Bajaj Finance: among major gainers on the Nifty
• Coal India, Adani Enterprises, Sun Pharma, Cipla and Power Grid Corp: among losers

Notable Stock Gainers:

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• Kalpataru Projects International: share price rose more than 2% on order win worth Rs 4,439 crores
• Jindal Steel: shares added 1.7% on completion of 6 MTPA Expansion at Angul
• InterGlobe Aviation: share price jumped 5% on appointment of Aloke Singh as chief strategy officer

New Listing:

• GSP Crop Science: shares ended with 6 percent gain at Rs 353.60 per share on the BSE after listed at Rs 332.30 per share, a premium of 3.8 percent.

Outlook for March 25:

The market direction remains uncertain, and much will depend on Wednesday's opening. A negative opening may create bearish sentiment, while a positive opening could indicate positive sentiment for the short term.