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Stock Market Today LIVE: Sensex jumps 300 points, Nifty above 23,200 led by banks, auto, metal stock
Summary
Stock Market Today LIVE: The Indian stock market benchmark indices, Sensex and Nifty 50, rose over 0.5% on Monday, March 16 amid mixed global market cues, as investors watch out for the latest developments in the US-Iran war which has entered its third week. Volatility is likely to remain high amid elevated crude oil prices and uncertainties due to the Middle East war.
Nifty Midcap index and Nifty Smallcap index also turned postive. Among sectors, banks, auto and metal indices led the gains.
On the global front, Asian markets traded mixed. MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.1%. The US stock market ended lower last week, on worries over the global oil supply disruptions due to the war in the Middle East.
The US-Iran war has entered its third week, and the trade through the Strait of Hormuz, a vital artery for global oil and gas shipments, has come to an effective halt. US President Donald Trump said Washington is in contact with Iran but expressed doubt that Tehran is prepared for serious negotiations to end the conflict.
Global crude oil prices traded on a mixed note on Monday after the International Energy Agency (IEA) announced plans to release oil from emergency reserves to stabilize markets disrupted by the ongoing conflict in West Asia.
At 7:53 am, the April contract of benchmark Brent crude on the Intercontinental Exchange was trading at $103.95 per barrel, up 0.79%, while the April contract of West Texas Intermediate (WTI) on NYMEX was at $98.62 a barrel, down 0.09% from its previous close.
The move comes as the West Asia conflict deepens an already fragile global energy market, with disruptions around the Strait of Hormuz raising concerns over crude and liquefied petroleum gas (LPG) supplies and keeping volatility elevated.
Gold rate declined by more than 1% in early deals on the MCX on Monday (March 16) morning amid dimming hopes of a near-term rate cut by the US Federal Reserve, as the ongoing US-Iran war has raised inflationary risks and increased concerns that economic growth is losing momentum.
MCX gold April futures dropped by ₹1,800, or 1.14%, to ₹1,56,655 per 10 grams in early deals on Monday, while MCX silver May contracts crashed by more than ₹4,300, or 1.7%, to ₹2,55,101 per kg.
Stay tuned to this segment for all live updates on the Indian stock market today.
The rupee stayed weak and lost 13 paise to 92.43 against the US dollar in early trade on Monday, weighed down by massive withdrawal of foreign funds and surging crude oil prices amid geopolitical uncertainties.
Volatile sentiment in domestic equity markets further dragged the currency down even as the greenback retreated from higher levels, according to forex traders.
At the interbank foreign exchange, the local unit opened at 92.44 and stayed close to its lowest-ever intra-day level, trading at 92.43 against the greenback, registering a loss of 13 paise from its previous close.
In the preceding session on Friday, the rupee hit its lowest intra-day level of 92.47 before ending at its record closing low of 92.30 against the dollar.
The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.13% lower at 99.98.
Nifty is at the lower end of a channel that has held the downtrend since the start of March. If 23,000 holds, we could expect a swing higher to 23,600-23,990. Alternatively, failure to push above 23,330, or a direct fall below 22,900 will set off a 22,000 move, predicts Geojit Investments.
VK Vijayakumar, Chief Investment Strategist, Geojit Investments said:
"With the uncertainty surrounding the war continuing, markets are in unchartered territory. The sustained heavy selling by FIIs and the weakness in rupee are contributing to the market weakness. In the near-term FIIs are likely to continue selling in the market, particularly when there is a mild rally in the market. This will add to the weakness in the market, even in fundamentally sound sectors and stocks.
How the high crude prices impact India’s GDP growth and corporate earnings, going forward, will depend on the duration of the war.
There are times when doing nothing is a good strategy. This appears to be the case now. However, investors with risk appetite can certainly nibble at high quality stocks across sectors, now available at fair valuations. In the broader market there are growth stocks available at attractive valuations.
Even in the weak market environment, pharmaceuticals and telecom stocks are exhibiting resilience."
The Indian stock market benchmark indices, Sensex and Nifty 50, opened on a muted note on Monday amid mixed global market cues, as investors watch out for the latest developments in the US-Iran war which has entered its third week. Volatility is likely to remain high amid elevated crude oil prices and uncertainties due to the Middle East war.
At 9:20 am, Sensex was trading at 74,487.23, down 76.69 points or 0.10% while Nifty was at 23,170.20, up 19.10 points or 0.08%.
Om Mehra, Technical Research Analyst, SAMCO Securities noted that the Bank Nifty index is now hovering near the 53,500 – 53,400 zone, which earlier acted as a key support level and is currently being tested again.
“A decisive move below this level may open the door for further downside. The index continues to trade below its key moving averages, reflecting weakness in the broader trend. The RSI has slipped near the 23 level, indicating that the index has entered a deeply oversold zone,” said Om Mehra, Technical Research Analyst, SAMCO Securities.
Overall, he believes the short-term outlook remains weak, and the Bank Nifty index may continue to witness volatile swings unless it manages to reclaim the 54,500 zone on a closing basis.
Nifty 50 formed a bearish candlestick pattern on the daily chart, indicating a weak outlook following the recent breakdown. For the week, Nifty 50 slumped 5.31% and formed a sizable bearish candle with a lower high and a lower low on the weekly chart, signaling continuation of the corrective decline.
“A long bear candle has formed on the daily chart that made a new swing low of 23,112 levels on Friday. Nifty 50 has entered the support of previous opening upside gap area of 15 April 2025 around 23,200 - 22,900 levels. Though, Nifty 50 is placed near the supports, still there is no confirmation of any bottom reversal pattern forming. This is not a good sign,” said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.
According to him, the underlying trend of the market is sharply down and there is a higher possibility of Nifty 50 showing minor pullback from near the lows of around 22,900 by this week.
“If it fails to do so, then one may expect more weakness down to 22,500 -22,000 levels in the near term. Immediate resistance is placed at 23,500,” Shetti added.
Sensex cracked 5.5% last week. The index formed lower highs and lower lows on daily charts, and a long bearish candle on weekly charts, which is largely negative.
“We believe that as long as Sensex is trading below 75,000, a weak formation is likely to continue. On the downside, the index could continue its correction wave until 73,600. Further downward movement may also continue, potentially dragging the index to 73,000. On the other side, above 75,000, the pullback move could extend until 75,600 - 76,100,” said Amol Athawale, VP Technical Research, Kotak Securities.
Gold prices were steady after paring a near 1% fall earlier in the session amid a softer dollar. Spot gold price was unchanged at $5,017.53 per ounce, US gold futures for April delivery fell 0.8% to $5,020.90. Spot silver price rose 0.4% at $80.88 per ounce.
The dollar index eased slightly to 100.20, but remained perched near last week’s 10-month high. The Euro traded 0.14% higher at $1.1433, while Sterling was up 0.17% at $1.3245. The yen languished near the 160-per-dollar level and last stood at 159.44.
Stock Market Today LIVE: US GDP GrowthUS economic growth slowed more sharply than initially thought in the fourth quarter. US Gross Domestic Product (GDP) increased at a 0.7% annualized rate last quarter, revised down from the initially reported 1.4% pace. Economists polled by Reuters had forecast GDP growth would be unrevised at 1.4%. The economy grew at a 4.4% pace in the third quarter.
Foreign institutional investors (FIIs) sold domestic equities worth ₹52,704 crore during the first half of March, with Friday recording the largest single-day outflow of 2026 at ₹10,717 crore.
On a year-to-date basis, foreign portfolio investors (FPIs) have pulled out ₹66,051 crore from Indian equities.
"The weakness in global equity markets following the war in West Asia, the steady depreciation of the rupee and concerns surrounding the impact of high crude prices on India’s growth and corporate earnings contributed to the concern of FPIs. The poor returns from India vis-à-vis other markets - both developed and emerging- during the last eighteen months are the principal reason for FPI’s indifference towards India. If their sustained selling strategy is to change, there should be clear indications of earnings recovery in India. In the present uncertain context, this will take time.
Gold wavered, as the conflict in the Middle East entered a third week and investors weighed a softer dollar against continued threats to global oil supplies.
Bullion traded either side of $5,000 an ounce, falling as much as 1% before paring losses. The metal steadied after dropping for a second straight week, under pressure from rising energy prices and inflationary concerns arising from the US-Israeli war with Iran. Crude erased early gains on Monday and a gauge of the dollar slipped, helping to support commodities priced in the US currency. (Bloomberg)
The US Federal Reserve is all set to begin its two-day meeting on March 17 and will announce the outcome on March 18.
The Federal Reserve’s key policy rate currently stands in the range of 3.5% to 3.75%. At its January meeting, the Fed chose to leave interest rates unchanged. Before that, the central bank had implemented three consecutive rate cuts, reducing rates by 0.25 percentage points each time in an effort to prevent the slowdown in the labour market from leading to a rise in unemployment.
US stock market ended lower on Friday as investors gauged how the war in Iran was affecting the global oil supply. The Dow Jones Industrial Average fell 119.38 points, or 0.26%, to 46,558.47, while the S&P 500 declined 40.43 points, or 0.61%, to 6,632.19. The Nasdaq Composite closed 206.62 points, or 0.93%, lower at 22,105.36.
Benchmark Japanese government bond yields touched a one-month high as the escalating Middle East crisis fuelled expectations of higher inflation and potential policy tightening by the Bank of Japan, Reuters reported. The 10-year JGB yield briefly touched 2.25%, its highest since February 10, before easing in early trade. Futures on the 10-year JGB rose 0.14 yen to 131.320.05 yen to 131.23. The 30-year yield added 1 bps to 3.515%. The two-year yield eased 0.5 bps to 1.28%.
Asian markets traded mixed amid elevated crude oil prices and as investors assessed the latest developments in the escalating US-Iran war. Japan’s Nikkei 225 declined 0.12% and the Topix fell 0.11%. South Korea’s Kospi gained 0.95%, while the Kosdaq was flat. Hong Kong’s Hang Seng index futures indicated a higher opening.
The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading around 23,320 level, a premium of nearly 121 points from the Nifty futures’ previous close.
The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open on a steady note on Monday amid mixed global market cues, as investors watch out for the latest developments in the US-Iran war which has entered its third week. Volatility is likely to remain high amid elevated crude oil prices and uncertainties due to the Middle East war.
Pranati Deva is a seasoned financial journalist with over a decade of experience in high-pressure newsroom environments, currently working as a Senior...Read More
Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
Download the Mint app and read premium stories
Nifty Midcap index and Nifty Smallcap index also turned postive. Among sectors, banks, auto and metal indices led the gains.
On the global front, Asian markets traded mixed. MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.1%. The US stock market ended lower last week, on worries over the global oil supply disruptions due to the war in the Middle East.
The US-Iran war has entered its third week, and the trade through the Strait of Hormuz, a vital artery for global oil and gas shipments, has come to an effective halt. US President Donald Trump said Washington is in contact with Iran but expressed doubt that Tehran is prepared for serious negotiations to end the conflict.
Global crude oil prices traded on a mixed note on Monday after the International Energy Agency (IEA) announced plans to release oil from emergency reserves to stabilize markets disrupted by the ongoing conflict in West Asia.
At 7:53 am, the April contract of benchmark Brent crude on the Intercontinental Exchange was trading at $103.95 per barrel, up 0.79%, while the April contract of West Texas Intermediate (WTI) on NYMEX was at $98.62 a barrel, down 0.09% from its previous close.
The move comes as the West Asia conflict deepens an already fragile global energy market, with disruptions around the Strait of Hormuz raising concerns over crude and liquefied petroleum gas (LPG) supplies and keeping volatility elevated.
Gold rate declined by more than 1% in early deals on the MCX on Monday (March 16) morning amid dimming hopes of a near-term rate cut by the US Federal Reserve, as the ongoing US-Iran war has raised inflationary risks and increased concerns that economic growth is losing momentum.
MCX gold April futures dropped by ₹1,800, or 1.14%, to ₹1,56,655 per 10 grams in early deals on Monday, while MCX silver May contracts crashed by more than ₹4,300, or 1.7%, to ₹2,55,101 per kg.
Stay tuned to this segment for all live updates on the Indian stock market today.
The rupee stayed weak and lost 13 paise to 92.43 against the US dollar in early trade on Monday, weighed down by massive withdrawal of foreign funds and surging crude oil prices amid geopolitical uncertainties.
Volatile sentiment in domestic equity markets further dragged the currency down even as the greenback retreated from higher levels, according to forex traders.
At the interbank foreign exchange, the local unit opened at 92.44 and stayed close to its lowest-ever intra-day level, trading at 92.43 against the greenback, registering a loss of 13 paise from its previous close.
In the preceding session on Friday, the rupee hit its lowest intra-day level of 92.47 before ending at its record closing low of 92.30 against the dollar.
The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.13% lower at 99.98.
Nifty is at the lower end of a channel that has held the downtrend since the start of March. If 23,000 holds, we could expect a swing higher to 23,600-23,990. Alternatively, failure to push above 23,330, or a direct fall below 22,900 will set off a 22,000 move, predicts Geojit Investments.
VK Vijayakumar, Chief Investment Strategist, Geojit Investments said:
"With the uncertainty surrounding the war continuing, markets are in unchartered territory. The sustained heavy selling by FIIs and the weakness in rupee are contributing to the market weakness. In the near-term FIIs are likely to continue selling in the market, particularly when there is a mild rally in the market. This will add to the weakness in the market, even in fundamentally sound sectors and stocks.
How the high crude prices impact India’s GDP growth and corporate earnings, going forward, will depend on the duration of the war.
There are times when doing nothing is a good strategy. This appears to be the case now. However, investors with risk appetite can certainly nibble at high quality stocks across sectors, now available at fair valuations. In the broader market there are growth stocks available at attractive valuations.
Even in the weak market environment, pharmaceuticals and telecom stocks are exhibiting resilience."
The Indian stock market benchmark indices, Sensex and Nifty 50, opened on a muted note on Monday amid mixed global market cues, as investors watch out for the latest developments in the US-Iran war which has entered its third week. Volatility is likely to remain high amid elevated crude oil prices and uncertainties due to the Middle East war.
At 9:20 am, Sensex was trading at 74,487.23, down 76.69 points or 0.10% while Nifty was at 23,170.20, up 19.10 points or 0.08%.
Om Mehra, Technical Research Analyst, SAMCO Securities noted that the Bank Nifty index is now hovering near the 53,500 – 53,400 zone, which earlier acted as a key support level and is currently being tested again.
“A decisive move below this level may open the door for further downside. The index continues to trade below its key moving averages, reflecting weakness in the broader trend. The RSI has slipped near the 23 level, indicating that the index has entered a deeply oversold zone,” said Om Mehra, Technical Research Analyst, SAMCO Securities.
Overall, he believes the short-term outlook remains weak, and the Bank Nifty index may continue to witness volatile swings unless it manages to reclaim the 54,500 zone on a closing basis.
Nifty 50 formed a bearish candlestick pattern on the daily chart, indicating a weak outlook following the recent breakdown. For the week, Nifty 50 slumped 5.31% and formed a sizable bearish candle with a lower high and a lower low on the weekly chart, signaling continuation of the corrective decline.
“A long bear candle has formed on the daily chart that made a new swing low of 23,112 levels on Friday. Nifty 50 has entered the support of previous opening upside gap area of 15 April 2025 around 23,200 - 22,900 levels. Though, Nifty 50 is placed near the supports, still there is no confirmation of any bottom reversal pattern forming. This is not a good sign,” said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.
According to him, the underlying trend of the market is sharply down and there is a higher possibility of Nifty 50 showing minor pullback from near the lows of around 22,900 by this week.
“If it fails to do so, then one may expect more weakness down to 22,500 -22,000 levels in the near term. Immediate resistance is placed at 23,500,” Shetti added.
Sensex cracked 5.5% last week. The index formed lower highs and lower lows on daily charts, and a long bearish candle on weekly charts, which is largely negative.
“We believe that as long as Sensex is trading below 75,000, a weak formation is likely to continue. On the downside, the index could continue its correction wave until 73,600. Further downward movement may also continue, potentially dragging the index to 73,000. On the other side, above 75,000, the pullback move could extend until 75,600 - 76,100,” said Amol Athawale, VP Technical Research, Kotak Securities.
Gold prices were steady after paring a near 1% fall earlier in the session amid a softer dollar. Spot gold price was unchanged at $5,017.53 per ounce, US gold futures for April delivery fell 0.8% to $5,020.90. Spot silver price rose 0.4% at $80.88 per ounce.
The dollar index eased slightly to 100.20, but remained perched near last week’s 10-month high. The Euro traded 0.14% higher at $1.1433, while Sterling was up 0.17% at $1.3245. The yen languished near the 160-per-dollar level and last stood at 159.44.
Stock Market Today LIVE: US GDP GrowthUS economic growth slowed more sharply than initially thought in the fourth quarter. US Gross Domestic Product (GDP) increased at a 0.7% annualized rate last quarter, revised down from the initially reported 1.4% pace. Economists polled by Reuters had forecast GDP growth would be unrevised at 1.4%. The economy grew at a 4.4% pace in the third quarter.
Foreign institutional investors (FIIs) sold domestic equities worth ₹52,704 crore during the first half of March, with Friday recording the largest single-day outflow of 2026 at ₹10,717 crore.
On a year-to-date basis, foreign portfolio investors (FPIs) have pulled out ₹66,051 crore from Indian equities.
"The weakness in global equity markets following the war in West Asia, the steady depreciation of the rupee and concerns surrounding the impact of high crude prices on India’s growth and corporate earnings contributed to the concern of FPIs. The poor returns from India vis-à-vis other markets - both developed and emerging- during the last eighteen months are the principal reason for FPI’s indifference towards India. If their sustained selling strategy is to change, there should be clear indications of earnings recovery in India. In the present uncertain context, this will take time.
Gold wavered, as the conflict in the Middle East entered a third week and investors weighed a softer dollar against continued threats to global oil supplies.
Bullion traded either side of $5,000 an ounce, falling as much as 1% before paring losses. The metal steadied after dropping for a second straight week, under pressure from rising energy prices and inflationary concerns arising from the US-Israeli war with Iran. Crude erased early gains on Monday and a gauge of the dollar slipped, helping to support commodities priced in the US currency. (Bloomberg)
The US Federal Reserve is all set to begin its two-day meeting on March 17 and will announce the outcome on March 18.
The Federal Reserve’s key policy rate currently stands in the range of 3.5% to 3.75%. At its January meeting, the Fed chose to leave interest rates unchanged. Before that, the central bank had implemented three consecutive rate cuts, reducing rates by 0.25 percentage points each time in an effort to prevent the slowdown in the labour market from leading to a rise in unemployment.
US stock market ended lower on Friday as investors gauged how the war in Iran was affecting the global oil supply. The Dow Jones Industrial Average fell 119.38 points, or 0.26%, to 46,558.47, while the S&P 500 declined 40.43 points, or 0.61%, to 6,632.19. The Nasdaq Composite closed 206.62 points, or 0.93%, lower at 22,105.36.
Benchmark Japanese government bond yields touched a one-month high as the escalating Middle East crisis fuelled expectations of higher inflation and potential policy tightening by the Bank of Japan, Reuters reported. The 10-year JGB yield briefly touched 2.25%, its highest since February 10, before easing in early trade. Futures on the 10-year JGB rose 0.14 yen to 131.320.05 yen to 131.23. The 30-year yield added 1 bps to 3.515%. The two-year yield eased 0.5 bps to 1.28%.
Asian markets traded mixed amid elevated crude oil prices and as investors assessed the latest developments in the escalating US-Iran war. Japan’s Nikkei 225 declined 0.12% and the Topix fell 0.11%. South Korea’s Kospi gained 0.95%, while the Kosdaq was flat. Hong Kong’s Hang Seng index futures indicated a higher opening.
The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading around 23,320 level, a premium of nearly 121 points from the Nifty futures’ previous close.
The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open on a steady note on Monday amid mixed global market cues, as investors watch out for the latest developments in the US-Iran war which has entered its third week. Volatility is likely to remain high amid elevated crude oil prices and uncertainties due to the Middle East war.
Pranati Deva is a seasoned financial journalist with over a decade of experience in high-pressure newsroom environments, currently working as a Senior...Read More
Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
Download the Mint app and read premium stories
AI Description
The article reports on the performance of the Indian stock market, highlighting a significant rise in the Sensex and Nifty 50 indices. The gains are attributed to positive movements in sectors like banks, auto, and metal amid global market uncertainties.