Sensex U͏p 700 Po͏ints͏, ͏Nif͏ty Holds Above 23,200 I͏n Midday Trade

Mumbai͏, ͏March 20: Indian͏ equity marke͏ts staged ͏a s͏trong reco͏very during Friday’s mid-marke͏t ͏s͏ession, ͏with the BSE Sensex rising 617.2͏4 points͏ ͏to 74,82͏4.48 and the NSE Nifty 50 c͏limbin͏g 203.95 poin͏ts to 23,206.10. The intra-d͏ay ͏gains come after Thur͏s͏day’s massiv͏e͏ selloff͏ erased over ₹13 trill͏ion in͏ ma͏rket capitalisation, marki͏ng ͏a͏ vo͏latile w͏eek f͏o͏r investors. Market breadth fa͏vou͏red ͏advancer͏s,͏ wit͏h 2,570 sha͏res adv͏ancing, 1͏,269͏ declining, ͏and 134 uncha͏nged, signalling ͏b͏road participation in th͏e af͏ternoon sess͏ion.

IT, ͏PSU Bank, and Pharma Stocks Lead͏ Afternoon Gain͏s

During the mid͏-session, JSW Steel, Coal India, Tech Mahindra, Tata Stee͏l, and ITC emerg͏e͏d ͏as top Nift͏y 50 gainers,͏ refl͏ecting ͏sectoral strength amid easing crude oil pric͏es͏ and po͏sit͏ive ͏global cues. Conve͏rsely, H͏DFC Bank, H͏indalco, Bajaj Finance, HDFC L͏ife͏, and Bha͏rat Elect͏ronics r͏ecorded d͏eclines,͏ sho͏wing selective weakness in fi͏nanc͏ials a͏nd me͏t͏al segments͏. The Nifty Mi͏d͏Cap index ros͏e 1 per cent͏ and ͏SmallCap ͏index advanced 0.4 per c͏ent, indicating ͏that t͏he b͏uying m͏omentum͏ extended beyond ͏large-cap ͏stocks.

Sectoral performance was robust, l͏ed͏ by ͏the N͏ifty PSU Bank͏ Index, which surged 3͏ per cent, follow͏ed by ͏Information T͏ech͏nology͏, ͏Meta͏ls, Oil & Gas, Auto͏,͏ Infrastructure, Realty, and͏ Pharma ind͏ices, all re͏gistering͏ gains be͏tween 1–2 percen͏t. The susta͏ined r͏a͏ll͏y i͏n PSU b͏anks and IT ͏stocks sug͏g͏e͏s͏ts continued in͏terest in ͏defensive͏ and grow͏th-oriented s͏ectors ͏d͏uring mid-se͏ssion trades.

Auto Sector Rebounds Despite Recent 15 Per cent Correction

The Nifty Auto Index showed resilience in the mid-market session despite a recent 15 per cent correction over 20 days, largely triggered by supply constraints and rising commodity prices. CLSA analysts highlighted that prolonged disruption and elevated costs could cut FY27 earnings by 30–40 per cent, creating potential long-term value at lower price points.

In intra-day trades, Hero Motocorp rose 1.97 per cent to ₹5,274.50, Bajaj Auto gained 1.9 per cent to ₹9,037.00, and Bosch advanced 1.71 per cent to ₹30,650.00. Other notable performers included TMPV, Exide Industries, Motherson, Eicher Motors, Tube Investment, Bharat Forge, Mahindra & Mahindra, Maruti Suzuki, and TVS Motor, with gains ranging from 0.45–1.65 per cent. On the other hand, MRF, Balkrishna Industries, and Ashok Leyland saw minor declines of less than 1 per cent, reflecting uneven recovery in commercial and heavy vehicle segments.

Mid-Cap Stocks Maintain Momentum In Afternoon Trading

Several mid-cap NSE-listed stocks continued strong performance in Friday’s afternoon session. Singer India surged an extraordinary 1,935 per cent from ₹3.52 to ₹71.65 over the past three days. Other mid-caps displaying significant growth included Surani Steel Tubes, Shiv Aum Steels, Valiant Organic, Bodal Chemicals, Websol Energy, Gujarat Alkali, Jaiprakash Power, Olectra Greentech, Universal Cable, Confidence Petroleum, Thomas Cook, Bafna Pharma, Owais Metal, Go Fashion, Xpro India, Silver Touch Technologies, Unihealth Hospitals, Giriraj Civil Developers, and Inspire Films, with gains ranging between 15–31 per cent.

The mid-cap surge underlines robust intra-day activity and interest in smaller, more volatile stocks during the afternoon session. Analysts noted that these rallies were partly driven by bargain accumulation after the steep losses earlier in the week, as well as sector-specific optimism, particularly in chemicals, energy, and healthcare manufacturing.

Nifty 50 Faces 52-Week Lows Amid Select Sector Pressure

Despite broad-based recovery, some BSE 500 constituents touched 52-week lows during mid-session trades. Petronet LNG fell to ₹260.30, Mahanagar Gas to ₹973.10, and SBI Card to ₹687.25. Additional stocks including Lodha Developers, Gujarat State Petroleum, Latent View, Global Health, Mankind Pharma, Jyothy Labs, Aptus Value, Embassy Developers, Procter & Gamble, and Shree Cement touched annual lows, reflecting selective sector weakness in utilities, consumer services, and construction.

The pressure in these stocks indicates that while the broad indices recovered, certain segments remain under stress due to structural, commodity, or policy factors affecting mid-cap and small-cap valuations.

Power Stocks Rally Following Government Investment Roadmap

Power stocks were among the notable gainers in mid-session trades. Tata Power hit a 52-week high after the Ministry of Power unveiled a ₹200 trillion long-term investment roadmap for India’s electricity sector over the next two decades. The announcement provided impetus to both renewable and conventional energy companies.

Bharat Heavy Electricals Limited (BHEL) rose 5 per cent, reflecting optimism around infrastructure expansion and power generation projects. The rally in power stocks highlights investor focus on long-term government-backed projects, especially in renewable energy and grid modernisation.

IT Stocks Gain Momentum After Accenture Q2 Earnings

Indian IT stocks registered notable intra-day gains during the mid-market session following Accenture’s Q2FY26 earnings. The Nifty IT Index rose over 2 per cent, with Oracle Financial Services Software surging 5 per cent. Tech Mahindra, HCL Technologies, Persistent Systems, Infosys, and Mphasis gained more than 2 per cent, while Tata Consultancy Services (TCS), Wipro, and Coforge rose above 1 per cent.

Accenture’s Q2 results highlighted 4 per cent year-on-year revenue growth in constant currency, with consulting revenue up 3 per cent YoY and managed services increasing 5 per cent YoY. New bookings rose 6 per cent YoY, including consulting bookings up 8.2 per cent and outsourcing bookings by 3.3 per cent. Accenture also raised the mid-point of its FY26 organic growth guidance by 50 basis points to 3.5 per cent YoY, boosting sentiment for Indian IT exports and digital services.

Market Rebounds After Thursday’s Massive Selloff

Friday’s mid-session rally followed Thursday’s severe crash that erased approximately ₹13 trillion in market capitalisation. Early afternoon trades saw the Sensex surge more than 1,000 points, and Nifty 50 reclaim the 23,300 mark. Mid- and small-cap indices rose up to 2 per cent, suggesting broad-based recovery beyond large-cap stocks.

Global cues aided the rebound, with Brent crude prices declining slightly after the US indicated potential relaxation of Iranian oil sanctions. Statements from Israeli Prime Minister Benjamin Netanyahu and US President Donald Trump signalling reduced military escalation in the Middle East helped calm energy market fears. Asian markets showed mixed performance, with South Korea’s Kospi up 1 per cent, Kosdaq gaining 0.94 per cent, and China’s CSI 300 advancing 0.52 per cent.

Oil & Gas Stocks Gain Amid Falling Crude Prices

Energy stocks advanced in mid-session trading, with OMCs and oil companies gaining up to 3.5 per cent, led by Hindustan Petroleum Corporation Limited (HPCL), Indian Oil Corporation (IOC), and Bharat Petroleum Corporation Limited (BPCL). Brent crude May futures were down 2.24 per cent at $105.37 per barrel, and US WTI crude fell 1.56 per cent to $94.64 per barrel, following easing concerns over supply disruptions in the Middle East.

Gold and Silver Futures Show Moderate Gains

Precious metals rose modestly during mid-session trading. Spot gold increased 0.2 per cent to $4,657.50 per ounce, while April delivery US gold futures rose 1.1 per cent to $4,657.90. Spot silver advanced 0.1 per cent to $73 per ounce, reflecting hedging activity amid currency volatility and global commodity concerns.

During Friday’s mid-session, Indian equity benchmarks recorded a strong rebound led by gains in IT, PSU banking, and power sectors, aided by easing crude oil prices and reduced geopolitical tensions. Broader indices, including mid- and small-cap stocks, participated actively, while the currency depreciation and selective 52-week lows reflect ongoing macroeconomic pressures that market participants are monitoring.

Sources:

• https://www.nseindia.com/index-tracker/NIFTY%2050
• https://www.nseindia.com/index-tracker/NIFTY%20BANK
• https://www.niftyindices.com/indices/equity/sectoral-indices/nifty-auto
• https://www.niftyindices.com/indices/equity/broad-based-indices/NIFTY-Midcap-100
• https://www.niftyindices.com/indices/equity/broad-based-indices/nifty-smallcap-500
• https://www.niftyindices.com/indices/equity/sectoral-indices/nifty-oil-and-gas-index
• https://www.niftyindices.com/indices/equity/sectoral-indices/nifty-it
• https://www.bseindia.com/sensex/code/16/