Prime End of the Day Summary: View on Market Performance 18 March 2026

Nifty Extends Rally to Third Session with Broad Participation

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, signalling the primary downtrend persists and could prompt profit booking. Resistance now lies at 23,860–24,000, with support shifting higher to 23,350.