Nifty trades above 22,750 mark; private bank shares advance

The key domestic equity benchmarks traded with significant gains in morning trade supported by positive global sentiment after Donald Trump announced a temporary pause on potential strikes on Iran?s energy infrastructure, indicating possible de-escalation in Middle East tensions. However, investor sentiment remained guarded due to uncertainty over the Strait of Hormuz reopening. Nifty traded above the 22,750 mark ahead of the expiry of NSE derivative contract.

Private bank shares witnessed buying demand after declining in the past three consecutive trading sessions.

At 10:25 IST, the barometer index, the S&P BSE Sensex surged 844.47 points or 1.17% to 73,549.60. The Nifty 50 index soared 247.15 points or 1.09% to 22,757.15.

In the broader market, the BSE 150 MidCap Index rose 0.95% and the BSE 250 SmallCap Index rose 0.62%.

The market breadth was weak. On the BSE, 2,765 shares rose and 1,020 shares fell. A total of 207 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term declined 5.23% to 25.33.

The rupee slipped against the dollar, hovering at 93.8450 versus its previous close of 93.5300, pressured by geopolitical tensions in the Middle East and concerns over energy supply disruptions.

US-Iran Warfare

The ongoing conflict in the Middle East continues to intensify, keeping global investors cautious as the war enters its fourth week, raising concerns about energy security and global economic stability.

Donald Trump has said that based on the ?tenor and tone? of the ongoing discussions, he has instructed the US department of war to postpone any planned military strikes on Iranian power plants and energy infrastructure for five days.

According to the chief of the International Energy Agency (IEA), nearly 40 energy assets ?severely damaged' in conflict; warns of ?worst? crisis.

New Listing:

Shares of Raajmarg Infra Investment Trust (InvIT) were currently trading at Rs 106.60 at 10:13 IST on the NSE, representing a premium of 6.60% as compared with the issue price of Rs 100.

The stock debuted at Rs 107, marking a premium of 7% to the issue price.

So far, the stock has hit a high of Rs 107.45 and a low of Rs 105.30. On the NSE, over 1.66 crore shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty Private Bank index advanced 1.43% to 24,787.45. The index plunged 7% in the past three consecutive trading session.

Federal Bank (up 2.44%), Kotak Mahindra Bank (up 2.41%), IDFC First Bank (up 1.76%), Yes Bank (up 1.7%) and ICICI Bank (up 1.52%) were the top gainers. Among the other gainers were RBL Bank (up 1.42%), HDFC Bank (up 0.95%), Axis Bank (up 0.3%) declined.

Stocks in Spotlight:

Dredging Corporation of India shed 0.16%. The company's board approved the appointment of Capt. S. Divakar as managing director & chief executive officer (MD & CEO) (additional director ? executive, non-independent) and key managerial personnel, effective 23 March 2026.

ACME Solar Holdings rose 1% after the company commissioned an additional 155 MW / 470.25 MWh of Battery Energy Storage System (BESS) capacity through its subsidiaries, strengthening its position in the energy storage segment.

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