Markets Hold Gains at Mid-Day; Sensex up 1000 Pts, Global Cues Remain Supportive

Mumbai, March 24: Indian equity markets traded firmly higher at mid-day on Tuesday, extending early gains supported by positive global cues and easing geopolitical tensions. Around noon, the BSE Sensex was up over 1,000 points, while the Nifty 50 held above the 22,800 mark, sustaining momentum after a strong opening rally.

The rebound comes after sharp losses in the previous session, with sentiment improving following de-escalation signals from the Middle East. Investors continued to track global developments closely, with reduced volatility supporting risk appetite.

Sectoral Trends

Sectorally, gains remained broad-based. Nifty Auto, PSU Bank, Realty, and Metal indices continued to lead the rally. Nifty IT also picked up and was up 2.42% while Nifty FMCG was the one of the laggards. Banking and rate-sensitive sectors saw buying interest as yields stabilised globally.

Broader Markets

The broader markets outperformed benchmark indices, with the Nifty Midcap and Smallcap indices trading nearly 1.5–2% higher during mid-day deals. The sustained strength in broader markets indicates improving investor confidence after Monday’s sharp correction.

Global Markets Supportive

Asian markets remained strong in Tuesday trade, tracking optimism from the US. Japan’s Nikkei 225 was up over 2%, while South Korea’s Kospi surged more than 3%, supported by easing inflation and expectations of accommodative monetary policy.

Overnight, US markets posted solid gains. The Dow Jones Industrial Average jumped 631 points, while the S&P 500 and Nasdaq Composite rose 1.25% and 1.48%, respectively, as easing tensions reduced concerns over oil supply disruptions.

European markets also saw a strong rebound, with the FTSE 100, DAX, and CAC 40 gaining between 1.8% and 2.1%, reflecting improved global risk sentiment.

Market Context

The recovery follows Monday’s steep sell-off, when Indian markets tumbled amid heightened geopolitical tensions and a spike in crude oil prices. With crude easing and volatility cooling, investors are selectively returning to equities.

Outlook

Markets are likely to remain driven by global cues and geopolitical developments through the session. Sustained buying in financials and cyclicals will be key to holding gains, while any reversal in crude prices or global sentiment could cap further upside.

Sources: 

• https://www.bseindia.com/sensex/code/16/
• https://www.bseindia.com/markets/etf/ETF_MktWatch.aspx
• https://www.nseindia.com/index-tracker/NIFTY%20IT