Equities Rise for Second Session as Metals and Autos Lead Recovery

An end-of-day recap of all that transpired in the Indian markets, highlighting the major price movements and the factors driving them

By Dehuti Jani

March 17, 2026 at 11:43 AM IST

Indian equity benchmarks extended their recovery for a second consecutive session on Tuesday, lifted by gains in metal and auto stocks, though persistent concerns over elevated crude prices kept the session volatile with indices swinging between gains and losses through much of the day. The Nifty50 rose 0.74% or 172.35 points to 23,581.15, while the BSE Sensex gained 0.75% or 568 points to 76,070.84, taking the two-session recovery this week to 1.9% and 2% respectively, after both indices confirmed a technical correction last week.

Eternal, Tata Steel and Mahindra & Mahindra were the top gainers in the Nifty 50. India VIX fell 8.39% to settle at 19.79, its sharpest single-session decline in recent weeks, offering a meaningful signal that near-term volatility expectations are beginning to ease, though the index remains elevated. Brent crude hovered around $103 per barrel as the Strait of Hormuz remained mostly shut, with US allies declining to send warships to assist tankers navigating the chokepoint that handles approximately 20% of global oil supplies. Broader markets also closed higher, with the Nifty MidCap 100 gaining 1.07% and the Nifty SmallCap 100 rising 0.78%, as risk appetite gradually returned across market segments. Nifty Metal and Nifty Auto were the top-performing sectoral indices, outperforming the benchmarks, while Nifty IT and Nifty FMCG were the session's laggards.

Top Movers of the Day

Reliance Industries traded under pressure, marginally down near ₹1,394 emerging as a key drag on benchmark indices amid cautious sentiment.

Tata Motors Commercial Vehicles rose 2% to ₹446.50 after announcing a 1.5% price hike across its vehicle portfolio effective 1 April 2026.

Ola Electric remained weak, slipping around 3%, extending its recent downtrend on growth concerns and broader EV sector caution.

Sun Pharmaceuticalgained roughly 1%, with pharma stocks attracting defensive buying interest in a volatile market.

Hindalco edged higher by about 2%, leading gains in the metal pack on selective accumulation.

IDBI Bank fell 5% to ₹73.35 on the BSE amid heavy volumes, continuing to face selling pressure from ongoing divestment uncertainty in an otherwise firm market.

BSE climbed nearly 4% to an intraday high of ₹2,974, opening 1% higher at ₹2,890, buoyed by strong buying across capital market stocks and positive sentiment surrounding the NSE's upcoming IPO.

MCX rose 5% to ₹2,675 on the BSE, extending its rally into a second consecutive session on continued buying interest across exchange-linked stocks.

GMDC and NMDC rose 3.7% and 1.6% respectively on the NSE after announcing a collaboration in the rare earth minerals sector.

Fractal Analytics gained 4.43% to ₹798.50 after launching LLM Studio, an enterprise-grade generative AI customisation platform built in collaboration with Nvidia NeMo and Nvidia NIM microservices.

Urban Company fell over 5% after approximately 35 million shares changed hands on the NSE during early trade in what appeared to be a large block deal.

Sugar stocks gained as much as 7%, with Dhampur Sugar and EID Parry among the top movers, after the food ministry approved an additional export quota of 87,587 tonnes of sugar for the 2025-26 marketing year.

Andhra Cements and Sagar Cements gained up to 10% after Sagar Cements opened an offer for sale in Andhra Cements, sparking buying interest across both counters.

Power Mech Projects climbed nearly 6% after securing a contract worth ₹7.10 billion from Adani Infrastructure Management Services for a 5×660 MW thermal power plant in Tiroda, Maharashtra.

Futures & Options
Nifty March 2026 futures settled at 23,613, trading at a premium of 31.85 points over the spot Nifty close of 23,581.15, indicating positive rollover sentiment. The Nifty 50 gained 172.35 points (0.74%) in the cash market. The NSE India VIX declined sharply by 8.39% to 19.79, suggesting easing volatility expectations after recent market swings. Among individual stock futures, HDFC Bank, Eternal, and ICICI Bank were the most actively traded contracts, reflecting strong participation in financials. The March 2026 F&O series is set to expire on 30 March 2026.

Bonds
Indian government bond yields edged higher on Tuesday, reflecting selling pressure amid heavy state debt supply and elevated crude oil prices. The benchmark 10-year 6.48% 2035 yield rose to 6.7143%, up from the previous close of 6.7059%. Yields remained biased upward as states raised ₹575.24 billion, significantly above the indicative calendar and the highest weekly borrowing since March 2025. The surge in supply, coupled with oil prices holding above $100 per barrel, added to inflation concerns and reduced appetite for bonds, pushing yields higher.

Forex
The Indian rupee remained stable on Tuesday, closing at 92.37 per dollar amid corporate dollar demand and concerns over high energy costs, offset by state-run banks' likely central bank-backed dollar sales. Iran launched new attacks on the UAE as West Asia tensions persisted into a third week, unsettling investors and raising concerns about global growth and inflation.

Crypto
Crypto markets today continue to show resilience. Bitcoin holds strong above $74,000. The global market cap is up 0.88% to $ 2.53 trillion at press time. The multi-day defiance of the crypto market is now a trend. Bitcoin is up 0.57%, at $74,139.18. It approaches the $74,500-$75,000 resistance zone with steady institutional accumulation. At the same time, the Ethereum price surged 1.69% to $2,304.76.

US Stock Futures
US stock futures edged lower on Tuesday, pausing after the previous session’s rebound as investors reassessed the impact of cooling oil prices on inflation and growth outlook. Futures linked to the Dow Jones Industrial Average slipped 0.1%, while S&P 500 futures declined 0.2% and Nasdaq 100 futures fell 0.3%. The pullback comes despite easing crude prices, with Brent settling nearly 3% lower just above $100 per barrel and WTI dropping over 5% to around $93.50.

US Treasury Notes
Yields on US Treasury moved higher as escalating West Asia tensions and a rebound in crude oil prices above $100 per barrel heightened inflation concerns ahead of the Federal Reserve’s policy decision. The benchmark 10-year yield rose to around 4.24%, up roughly 2.5 basis points, while the 2-year yield remained relatively steady near 3.69%. The move reflects a modest steepening of the yield curve, with long-end yields rising faster as investors demand higher compensation for inflation and geopolitical risk.

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