Sensex ͏Up 350 Poi͏n͏ts, Nif͏ty Sl͏ips Below 24,150 As ͏Crude Near͏s $95

Mu͏mba͏i, ͏M͏arch 10 :͏ India͏n benchmark in͏di͏c͏es ͏opened sharply high͏er on Tuesday b͏ut par͏ed͏ part of th͏eir͏ early gains as crude oil volatility a͏nd geop͏oli͏tical deve͏lopmen͏ts continued to i͏n͏fl͏uence market dire͏ction. The BSE Sensex͏ rose about 350 ͏p͏oints in early trade, w͏hile ͏the͏ ͏Nifty 50 slipped below 24,150 after b͏riefly ap͏proach͏ing th͏e 2͏4͏,200͏ level.

͏The͏ r͏e͏bound follows Mo͏nday’s ste͏ep sell-off, with mark͏ets ͏re͏s͏ponding to͏ easing͏ oil p͏ri͏ces, positi͏ve g͏lob͏al ͏c͏ues and ͏ex͏pectations of ͏de͏-escal͏at͏ion in Middle East t͏ensions.

Sens͏ex Opens 8͏09.57 Point͏s Higher, Nifty Starts At 24,280.80

Indian equity benchm͏arks began the sessi͏on with ͏str͏ong ga͏ins after t͏he͏ previous day’s͏ shar͏p decl͏ine.͏ The 30-share BSE Sen͏sex surged 809.57 poi͏nt͏s t͏o open͏ ͏at 78,375.73, while the N͏ifty 50͏ c͏limbed 252.75 po͏ints͏ to start tradi͏ng ͏at 24,280.80.

In the prev͏io͏us ͏session͏, ͏the͏ Sensex had closed at 77,566.16, while the Nifty ended ͏at 24,028.05͏, following heavy selling trigger͏ed ͏by rising crude oil prices and ͏geopoli͏t͏ical uncertainty.

Although the indices opened strongly on Tuesday, the Nifty later trimmed gains and moved below 24,150, while the Sensex reduced part of its early advance but continued to trade in positive territory.

Brent Falls Below $100, WTI Drops 10% After Trump Remarks

A key factor behind the early rebound was the fall in crude oil prices. Brent crude declined below $100 per barrel, easing some pressure on global markets.

At the same time, West Texas Intermediate (WTI) crude plunged nearly 10% after US President Donald Trump stated that the conflict involving Iran and Israel could end soon.

The easing of oil prices provided relief to global equities after recent spikes had triggered inflation concerns and heightened market volatility. However, crude continued to trade near $95 per barrel, keeping energy-sensitive sectors under close watch.

Nifty Tests 24,000 Support Amid Weekly Derivatives Expiry

Tuesday’s trading session also coincides with the weekly expiry of Nifty derivative contracts, a factor that typically increases intraday volatility.

The benchmark index is currently attempting to sustain levels above 24,000 after recovering from the intraday low of 23,697 recorded earlier. Market participants are closely monitoring this level, as it is considered critical to preventing further downside.

If the index moves higher during the session, maintaining levels above 24,000 will be the immediate objective.

Nifty Bank Recovers 800 Points from Lows

The Nifty Bank index also staged a strong recovery, rebounding around 800 points from the day’s lows and trading about 500 points higher during the session.

The banking index is attempting to defend Monday’s low of 55,270 while also seeking to sustain levels above 56,000. Given the sector’s significant weight within benchmark indices, movements in banking stocks continue to influence broader market direction.

IndiGo, Asian Paints, UltraTech Among Top Gainers

Several large-cap stocks recorded gains during the morning session. Stocks such as InterGlobe Aviation (IndiGo), Asian Paints, Shriram Finance, UltraTech Cement, and Tata Steel were among the notable gainers on the Nifty 50.

On the other hand, ONGC, Reliance Industries, Cipla, Coal India, and Tech Mahindra traded lower during the session.

From a sectoral perspective, most indices remained in the green. Automobile, metal, pharmaceutical, PSU banking and real estate stocks gained around 1% each, while IT and oil & gas sectors lagged the broader market.

Midcap, Smallcap Indices Rise Over 1%

Broader markets also showed gains in early trade. The Nifty Midcap and Nifty Smallcap indices both advanced by more than 1%, indicating buying interest beyond the large-cap segment.

However, market breadth on the National Stock Exchange (NSE) remained negative during early trade. Data showed 870 stocks advancing, compared with 1,601 stocks declining, while 28 stocks remained unchanged.

Meanwhile, the India VIX, commonly known as the market’s volatility index, declined nearly 12%, indicating a reduction in immediate market volatility.

Market Performance in 2026 So Far

Despite the rebound on March 10, the broader market trend in 2026 remains under pressure. The Nifty 50 has declined by nearly 9 percent so far this year, reflecting concerns over geopolitical risks and energy price volatility.

The India VIX, often referred to as the market’s fear gauge, has risen significantly, indicating heightened uncertainty and expected volatility in the near term.

However, historical market data suggests that equity markets often stabilize once energy prices settle. Analysts note that markets typically recover within a few months when oil prices return to normal levels.

Global Markets Support Sentiment

Global market movements also played a role in supporting Indian equities.

In the United States, the Nasdaq 100 index recovered, with investors buying stocks after recent declines despite ongoing geopolitical tensions.

Asian markets also showed strong gains at the start of trading. The South Korean Kospi surged around 5 percent, while Japan’s Nikkei 225 and Australia’s ASX 200 also recorded positive openings.

The global rebound provided additional support to Indian markets during early trading hours.

Indian equity benchmarks opened sharply higher on March 10, 2026 but trimmed part of the gains as crude oil prices remained volatile near $95 per barrel. The Sensex rose about 350 points, while the Nifty slipped below 24,150 after approaching 24,200 earlier. Market participants are closely tracking crude price movements, global cues and key levels around 24,000 on the Nifty and 56,000 on the Nifty Bank as weekly derivatives expiry adds to intraday volatility