Indian Stock Market Rebounds Strongly on Crude Oil Price Decline

On March 10, the Indian stock market staged a significant recovery, with the Nifty 50 closing 1% higher at 24,261 and the BSE Sensex advancing 0.82% to 78,208. The broader markets also witnessed gains, with the Nifty Midcap 100 and the Nifty Smallcap 100 surging 1.6% and 2.12%, respectively.

Sectoral Performance

All major sectoral indices closed in the green, with Nifty Auto emerging as the top performer, surging 3.10%. The Nifty Consumer Durables finished 2.67% higher, while the Nifty PSU Bank, Nifty Chemicals, Nifty Realty, and Nifty Metal sectors also recorded gains of over 1%.

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Losing Sectors

Only the Nifty IT and Nifty Oil and Gas sectors ended in the red, falling 0.46% and 0.39%, respectively.

Fertiliser Stocks Rally

The government's issuance of the Natural Gas Regulation Order, 2026, and growing hopes of a de-escalation in the US-Iran conflict led to a surge in fertiliser stocks. Authum Investment & Infrastructure emerged as the top performer, with a 20% rise to ₹486, its biggest intraday jump in two years. Other fertiliser stocks, including Fertilizers and Chemicals Travancore (FACT), Rashtriya Chemicals and Fertilizers, and National Fertilizers, also recorded significant gains.

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Other Notable Gainers

Tejas Networks, Force Motors, and Redington saw renewed buying, spiking 9%, 7.8%, and 11.6%, respectively. Major auto stocks, including TVS Motor Company and Hero MotoCorp, also witnessed solid buying, rallying 4.3% and 4.2%, respectively.

Losers

Cable and wire stocks, including Polycab India, KEI Industries, Finolex Cables, and RR Kabel, fell in the range of 2.5% to 6.1%. Mid-cap tech stocks, such as Hexaware Technologies and Coforge, also remained under pressure, falling 3% and 2.5%, respectively.