Indices trade with significant gains in early trade; breadth strong

The key equity benchmarks traded with significant gains in the early trade mirroring Asian markets. However, the sentiments remained cautious amid concerns over the ongoing US-Iran conflict in the Middle East, a sharp rise in crude oil prices, which continue to weigh on overall risk appetite. Nifty traded above the 23,700 level.

IT, media and auto shares advanced while metal and private bank shares declined.

At 09:25 IST, the barometer index, the S&P BSE Sensex advanced 390.37 points or 0.51% to 76,461.21. The Nifty 50 index rose 151.05 points or 0.64% to 23,732.20.

In the broader market, the BSE 150 MidCap Index jumped1.24% and the BSE 250 SmallCap Index climbed 1.38%.

The market breadth was strong. On the BSE, 2680 shares rose and 534 shares fell. A total of 156 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 4,741.22 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 5,225.32 crore in the Indian equity market on 17 March 2026, provisional data showed.

Stocks in Spotlight:

Aurobindo Pharma declined 1.25%. The company announced that the US FDA has concluded an inspection at its arm, Eugia Pharma?s Bhiwadi unit with nine observations and classified the inspection as ?Official Action Indicated? (OAI).

NHPC rose 0.05%. The company announced the commencement of commercial operations for the first 250 MW unit of the Subansiri Lower Hydroelectric Project (SLHP).

A B Infrabuild shed 0.64%. The company announced that it has receives a Letter of Acceptance for a project valued at Rs 48 crore.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.25% to 6.734 compared with previous session close of 6.717.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 92.4000 compared with its close of 92.4350 during the previous trading session.

MCX Gold futures for 2 April 2026 settlement shed 0.25% to Rs 155,641.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.03% to 99.59.

The United States 10-year bond yield declined 0.55% to 4.178.

In the commodities market, Brent crude for May 2026 settlement tumbled $1.53 or 1.48% to $101.89 a barrel.

Global Markets:

Asia markets rose on Wednesday as investors assess Japan trade data and await U.S. Federal Reserve?s interest rate decision.

Markets expect the Fed to keep interest rates steady between 3.5% and 3.75% on Wednesday stateside.

On the data front, Japanese exports increased by 4.2% year-on-year in February. Exports had risen 16.8% jump in the previous month.

The Middle East war continues to escalate, keeping investors on edge. A fresh wave of attacks on the United Arab Emirates? energy infrastructure has heightened fears of prolonged supply disruptions amid the Iran war.

The incidents followed a drone strike on the world?s largest ultra-sour gas development, a fire at the UAE?s Fujairah Oil Industry Zone, and damage to a tanker near the strategically vital Strait of Hormuz.

In latest development, Iran intensified attacks against U.S. assets in the Middle East and Israel on Wednesday in apparent retaliation against the killing of the country?s security chief Ali Larijani overnight, as the weeks-long conflict shows no signs of abating.

Overnight in the U.S., the S&P 500 rose as Wall Street built on the momentum seen in the previous session amid developments in the Iran war.

The broad market index closed up 0.25% at 6,716.09, and the Nasdaq Composite climbed 0.47% to finish at 22,479.53. The Dow Jones Industrial Average added 46.85 points, or 0.1%, to end at 46,993.26.

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