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Key gauges end with solid gains amid easing geopolitical tensions
Mar-24-2026

After witnessing a massive fall in previous session, Indian equity benchmarks rebounded sharply to end with solid gains on Tuesday, tracking a rally in Asian peers after US President Donald Trump announced a temporary halt on strikes targeting Iranian energy infrastructure.  

Some of the important factors in trade:       

India-Russia committed to increase trade to $100 billion: External Affairs Minister S Jaishankar said that India and Russia need to address issues such as non-tariff barriers and regulatory impediments to increase the two-way annual trade to $100 billion by 2030, while reaffirming New Delhi's steadfast commitment to strengthening the long-standing partnership with Moscow.

China to recoup 2% share in Indian FDI after Press Note 3 changes: The report by Crisil Intelligence said the amendments to the 'Press Note 3' by the government will help China increase its share in the overall foreign direct investments attracted by India to 2 per cent levels. 

India needs to take proactive steps limit impact of West Asia crisis: The Reserve Bank's bulletin said India needs to closely monitor the evolving situation in West Asia and take proactive measures to limit the impact of spillovers, as the country is dependent on crude oil imports. 

Indian private sector growth loses pace in March amid Middle East war: According to the data report, the HSBC Flash India Manufacturing PMI declined from 56.9 in February to a four-and-a-half-year low of 53.8 in March, while HSBC Flash India Services PMI Business Activity Index fell to 57.2 in March from February’s final reading of 58.1. 

Global front: European markets were trading mostly in green even as the S&P Global Flash Eurozone Services PMI fell to 50.1 in March 2026 from 51.9 in February, below forecasts of 51.1. Asian markets settled mostly higher following U.S. President Donald Trump's decision to postpone potential strikes on Iran's energy infrastructure for five days.  

Finally, the BSE Sensex rose 1372.06 points or 1.89% to 74,068.45 and the CNX Nifty was up by 399.75 points or 1.78% to 22,912.40. 

The BSE Sensex touched high and low of 74,489.39 and 73,084.46, respectively. There were 28 stocks advancing against 2 stocks declining on the index. 

The top gaining sectoral indices on the BSE were Industrials up by 2.98%, Consumer Durables up by 2.46%, Bankex up by 2.40%, Consumer Discretionary up by 2.39% and Auto up by 2.30%, while there was no losing sectoral index on the BSE.

The top gainers on the Sensex were Larsen & Toubro up by 5.19%, Interglobe Aviation up by 5.18%, Eternal up by 4.85%, Bajaj Finance up by 4.69% and Asian Paints up by 4.54%. On the flip side, Power Grid Corporation down by 0.81% and SBI down by 0.09% were the few losers.

Meanwhile, with an aim to strengthen the long-standing partnership with Moscow, External Affairs Minister S Jaishankar has said that there is need to address issues between India and Russia to increase the two-way annual trade to $100 billion by 2030. To this effect, he said ‘we must continue efforts to conclude the India-Eurasian Economic Union free trade agreement and address non-tariff barriers and regulatory impediments and utilise the skilled Indian workforce’. He noted ‘In today's evolving geo-political dynamics, our engagement continues to deepen’.

Jaishankar said the evolving multipolar order requires greater cooperation between India and Russia, including through BRICS, the Shanghai Cooperation Organisation (SCO), G20 and the UN. He said India is looking forward to closely working with Russia to address shared challenges in a ‘balanced and inclusive manner’. He said ‘India and Russia share a special and privileged strategic partnership rooted in trust and mutual respect. Over decades, our mutually beneficial cooperation has advanced regional and global peace, stability and progress’. He also described Russia as India's ‘foremost partner’ in the civil nuclear energy sector. He said ‘As India aims to increase its nuclear energy generation capacity to 100 GW by 2047, I am confident that it will find a trusted and reliable partner in Russia for peaceful uses of nuclear energy’.

Russian Foreign Minister Sergey Lavrov praised India's ‘independent foreign policy’ and said that Russia looks forward to welcoming Prime Minister Narendra Modi for a visit this year. Lavrov said the ‘time-tested’ Russia-India friendship is a model on interstate relations based on mutual trust and respect. He said ‘New Delhi deserves the deepest respect for pursuing an independent foreign policy as part of its course toward strategic autonomy, consistently prioritising the national interest’. He added ‘The time-tested Russian-Indian friendship is a model of how interstate relations based on equality, mutual trust and respect, and consideration of each other's interests can and should be built’.

CNX Nifty touched high and low of 23,057.30 and 22,624.20, respectively. There were 45 stocks advancing against 5 stocks declining on the index.   

The top gainers on Nifty were Interglobe Aviation up by 5.49%, Larsen & Toubro up by 5.17%, Bajaj Finance up by 4.97%, Eternal up by 4.89% and Asian Paints up by 4.68%. On the flip side, Coal India down by 3.00%, Power Grid Corporation down by 1.36%, Adani Enterprises down by 0.43%, Sun Pharma down by 0.32% and Cipla down by 0.15% were the top losers. 

European markets were trading mostly in green; UK’s FTSE 100 increased 28.52 points or 0.29% to 9,922.67 and France’s CAC rose 16.8 points or 0.22% to 7,743.00, while Germany’s DAX lost 15.06 points or 0.07% to 22,638.80. 

Asian markets settled mostly higher on Tuesday tracking Wall Street’s gains overnight after US President Donald Trump postponed strikes on Iran's power plants for five days, citing what he said were productive conversations with Tehran to end the war. Japanese shares gained after Japan’s core consumer inflation fell below the Bank of Japan’s 2% target in February for the first time in nearly four years, as government subsidies on fuel and utilities offset rising import costs driven by a weak yen and elevated oil prices amid geopolitical tensions. Chinese shares rebounded on reports that China would halve planned fuel price hikes to ease the financial burden on consumers, while PBoC Governor Pan Gongsheng pledged to maintain a supportive policy to foster stable growth and market stability. Indonesian markets remained closed for Idul Fitri Festival holidays.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,881.28

68.00

1.78

Hang Seng

25,063.71

681.24

2.79

Jakarta Composite

--

--

--

KLSE Composite

1,708.76

-11.95

-0.69

Nikkei 225

52,252.28

736.79

1.43

Straits Times

4,862.43

21.13

0.44

KOSPI Composite

5,553.92

148.17

2.74

Taiwan Weighted

32,612.24

-110.26

-0.34
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