Sensex jumps 1,507 pts in 2 days, Nifty tops 23,550; will stock market extend gains on March 18?
Investors’ wealth rose by Rs 3.48 lakh crore today, as the combined market capitalisation of BSE-listed companies climbed to Rs 433.32 lakh crore, compared with Rs 429.84 lakh crore at close on Monday.
- Mar 17, 2026,
- Updated Mar 17, 2026 4:52 PM IST
Domestic equity benchmarks BSE Sensex and NSE Nifty extended their uptrend for the second straight session on Tuesday, supported by value buying at lower levels and gains in metal and auto stocks amid continued caution due to the West Asia conflict.
At close, the Sensex advanced 567.99 points, or 0.75 per cent, to close at 76,070.84, taking its two-day gain to 1,507 points. While the Nifty rose 172.35 points, or 0.74 per cent, to settle at 23,581.15, it climbed 430 points in two sessions.
Investors’ wealth rose by Rs 3.48 lakh crore today, as the combined market capitalisation of BSE-listed companies climbed to Rs 433.32 lakh crore, compared with Rs 429.84 lakh crore at close on Monday.
As long as war-related uncertainties persist, it is premature to conclude that this reversal is sustainable in the short term, said Vinod Nair, Head of Research, Geojit Investments Limited.
Top gainers & losers
Among Sensex constituents, Eternal emerged as the top gainer, rising 5.70% to Rs 234.70. Tata Steel followed with a 4.41% gain, while Mahindra & Mahindra (M&M), Bharat Electronics (BEL), Larsen & Toubro (L&T) and Bharti Airtel rose 3.12%, 2.39%, 2.29% and 2.13%, respectively.
While Infosys, Bajaj Finance and ITC are among the laggards on the Sensex, falling up to 1.37% today.
The Middle East conflict is now in its third week, with no signs of de-escalation, said Ponmudi R, CEO of Enrich Money. “Ongoing tensions around the Strait of Hormuz and continued attacks on energy infrastructure have kept crude oil prices elevated, rising over 2% across global and domestic markets.”
Five stocks, namely ICICI Bank, Bharti Airtel, L&T, Eternal and HDFC Bank, contributed largely to the Sensex’s rise.
Among sectoral indices, the BSE Metal index jumped 2.81% to close at 38,452.85, while the BSE Auto index rose 2.05% to end at 55,655.13.
Sectorally, Hariprasad K, SEBI-registered research analyst and founder of Livelong Wealth, said that the automobile sector led the rebound, with the Nifty Auto index rising 2%. “This appears to be a technical pullback after the steep correction seen over the past month, where concerns around rising input costs, fuel prices and geopolitical risks had weighed heavily,” Hariprasad added.
In the 30-pack index, shares of Infosys and Tata Consultancy Services (TCS) hit their 52-week lows of Rs 1,215.15 and Rs 2,360, respectively.
Market breadth remained positive on BSE. Of the 4,411 actively traded stocks, 2,362 ended in the green, while a dominant 1,892 declined and 157settled unchanged.
Today's session saw 56 stocks touch 52-week highs, while 440 counters fell to their 52-week lows.
“Whereas from a long-term perspective, deploying funds appears reasonable, given the correction in India's premium valuations and the intact outlook for FY27. Regarding the upcoming FOMC meeting, expectations remain muted with a likely status quo on rates, which is unlikely to materially influence market sentiment, as attention is more focused on de-escalation in the Iran war," Nair said.
Key levels to watch
Ponmudi noted that the index is approaching the key resistance zone near 23,650, while also attempting to fill the gap formed on March 13, suggesting that near-term momentum remains constructive but faces a crucial test ahead.
Ponmudi highlighted that on the downside, immediate support is placed at 23,350, followed by a stronger base at 23,200–23,100, indicating that dips may continue to attract buying interest. On the upside, “23,650 remains the immediate hurdle; a decisive breakout above this level could push the index toward 23,800,” he said.
Hariprasad cautioned that Nifty is nearing “the 23,600 resistance area… indicating that the broader trend still reflects a sell-on-rise bias.”
According to Hariprasad, a decisive move above 23,600 could pave the way for 23,800-24,000, though this band may serve as a strong supply zone. On the other hand, any failure to maintain gains could result in a pullback, with 23,500, followed by 23,300-23,350, likely to provide support due to prior demand and open interest buildup. “we maintain our view to avoid aggressive positioning, stay selective and focus on disciplined risk management until stability appears in both crude oil prices and global markets," said Ajit Mishra – SVP, Research, Religare Broking Ltd.
Domestic equity benchmarks BSE Sensex and NSE Nifty extended their uptrend for the second straight session on Tuesday, supported by value buying at lower levels and gains in metal and auto stocks amid continued caution due to the West Asia conflict.
At close, the Sensex advanced 567.99 points, or 0.75 per cent, to close at 76,070.84, taking its two-day gain to 1,507 points. While the Nifty rose 172.35 points, or 0.74 per cent, to settle at 23,581.15, it climbed 430 points in two sessions.
Investors’ wealth rose by Rs 3.48 lakh crore today, as the combined market capitalisation of BSE-listed companies climbed to Rs 433.32 lakh crore, compared with Rs 429.84 lakh crore at close on Monday.
As long as war-related uncertainties persist, it is premature to conclude that this reversal is sustainable in the short term, said Vinod Nair, Head of Research, Geojit Investments Limited.
Top gainers & losers
Among Sensex constituents, Eternal emerged as the top gainer, rising 5.70% to Rs 234.70. Tata Steel followed with a 4.41% gain, while Mahindra & Mahindra (M&M), Bharat Electronics (BEL), Larsen & Toubro (L&T) and Bharti Airtel rose 3.12%, 2.39%, 2.29% and 2.13%, respectively.
While Infosys, Bajaj Finance and ITC are among the laggards on the Sensex, falling up to 1.37% today.
The Middle East conflict is now in its third week, with no signs of de-escalation, said Ponmudi R, CEO of Enrich Money. “Ongoing tensions around the Strait of Hormuz and continued attacks on energy infrastructure have kept crude oil prices elevated, rising over 2% across global and domestic markets.”
Five stocks, namely ICICI Bank, Bharti Airtel, L&T, Eternal and HDFC Bank, contributed largely to the Sensex’s rise.
Among sectoral indices, the BSE Metal index jumped 2.81% to close at 38,452.85, while the BSE Auto index rose 2.05% to end at 55,655.13.
Sectorally, Hariprasad K, SEBI-registered research analyst and founder of Livelong Wealth, said that the automobile sector led the rebound, with the Nifty Auto index rising 2%. “This appears to be a technical pullback after the steep correction seen over the past month, where concerns around rising input costs, fuel prices and geopolitical risks had weighed heavily,” Hariprasad added.
In the 30-pack index, shares of Infosys and Tata Consultancy Services (TCS) hit their 52-week lows of Rs 1,215.15 and Rs 2,360, respectively.
Market breadth remained positive on BSE. Of the 4,411 actively traded stocks, 2,362 ended in the green, while a dominant 1,892 declined and 157settled unchanged.
Today's session saw 56 stocks touch 52-week highs, while 440 counters fell to their 52-week lows.
“Whereas from a long-term perspective, deploying funds appears reasonable, given the correction in India's premium valuations and the intact outlook for FY27. Regarding the upcoming FOMC meeting, expectations remain muted with a likely status quo on rates, which is unlikely to materially influence market sentiment, as attention is more focused on de-escalation in the Iran war," Nair said.
Key levels to watch
Ponmudi noted that the index is approaching the key resistance zone near 23,650, while also attempting to fill the gap formed on March 13, suggesting that near-term momentum remains constructive but faces a crucial test ahead.
Ponmudi highlighted that on the downside, immediate support is placed at 23,350, followed by a stronger base at 23,200–23,100, indicating that dips may continue to attract buying interest. On the upside, “23,650 remains the immediate hurdle; a decisive breakout above this level could push the index toward 23,800,” he said.
Hariprasad cautioned that Nifty is nearing “the 23,600 resistance area… indicating that the broader trend still reflects a sell-on-rise bias.”
According to Hariprasad, a decisive move above 23,600 could pave the way for 23,800-24,000, though this band may serve as a strong supply zone. On the other hand, any failure to maintain gains could result in a pullback, with 23,500, followed by 23,300-23,350, likely to provide support due to prior demand and open interest buildup. “we maintain our view to avoid aggressive positioning, stay selective and focus on disciplined risk management until stability appears in both crude oil prices and global markets," said Ajit Mishra – SVP, Research, Religare Broking Ltd.