The key equity benchmarks witnessed strong buying interest in morning trade, supported by positive global cues following indications of possible de-escalation in Middle East tensions and a drop in crude oil prices below the $100 per barrel mark. However, caution prevailed due to ongoing uncertainty surrounding the reopening of the Strait of Hormuz. The Nifty scaled above the 23,350 mark.

Consumer durables shares gained for second consecutive trading session.

At 11:25 IST, the barometer index, the S&P BSE Sensex zoomed 1522.20 points or 2.06% to 75,591.56. The Nifty 50 index soared 474.40 points or 2.07% to 23,385.35.

In the broader market, the BSE 150 MidCap Index surged 2.40% and the BSE 250 SmallCap Index jumped 2.69%.

The market breadth was strong. On the BSE, 3300 shares rose and 727 shares fell. A total of 183 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term declined 4.10% to 25.63.

In the commodities market, Brent crude for May 2026 settlement tumbled $5.16 or 4.94% to $99.33 a barrel.

The stock market will remain closed on 26 March 2026, on account of Shri Ram Navami,

US-Iran Warfare

As the Middle East conflict continues without clarity, uncertainty remains a key concern for investors.

According to media reports, Donald Trump administration has put forward a 15-point ceasefire plan to Iran, even as the US military prepares to deploy at least 1,000 additional troops to a region where around 50,000 are already stationed.

Earlier, Trump stated that Washington was in discussions with Iran to bring an end to the conflict, despite an escalation in hostilities marked by airstrikes on Iranian positions and retaliatory missile and drone attacks by Iran targeting Israel and other locations. However, Iranian authorities have rejected claims that any formal negotiations are currently taking place.

IPO Update:

The initial public offer (IPO) of Sai Parenteral's received bids for 4,80,320 shares as against 75,22,486 shares on offer, according to stock exchange data at 11:18 IST on Wednesday (25 March 2026). The issue was subscribed 0.06 times.

The issue opened for bidding on 24 March 2026 and it will close on 27 March 2026. The price band of the IPO is fixed between Rs 372 and 392 per share.

The initial public offer (IPO) of Amir Chand Jagdish Kumar (Exports) received bids for 2,39,76,750 shares as against 1,89,05,270 shares on offer, according to stock exchange data at 11:18 IST on Wednesday (25 March 2026). The issue was subscribed 1.27 times.

The issue opened for bidding on 24 March 2026 and it will close on 27 March 2026. The price band of the IPO is fixed between Rs 201 and 212 per share.

The initial public offer (IPO) of Powerica received bids for 31,14,167 shares as against 2,05,55,171 shares on offer, according to stock exchange data at 11:18 IST on Wednesday (25 March 2026). The issue was subscribed 0.02 times.

The issue opened for bidding on 24 March 2026 and it will close on 27 March 2026. The price band of the IPO is fixed between Rs 375 and 395 per share.

Buzzing Index:

The Nifty Consumer Durables index jumped 4% to 34,924.15. The index rallied 6% in the second consecutive trading session.

Blue Star (up 4.84%), Kalyan Jewellers India (up 4.83%), Kajaria Ceramics (up 4.55%), PG Electroplast (up 4.49%), Amber Enterprises India (up 4.46%), Voltas (up 4.25%), Century Plyboards (India) (up 4.18%), Titan Company (up 3.89%), Havells India (up 3.84%) and Dixon Technologies (India) (up 3.65%) advanced.

Stock in Spotlight:

ITCONS E-Solutions rose 1.15% after the company announced that it has secured a manpower outsourcing services contract worth Rs 1.71 crore from the Directorate General of Defence Estates under the Ministry of Defence.

Magellanic Cloud added 1.85% after its wholly owned subsidiary, Provigil Surveillance has secured a significant purchase order worth Rs 25 crore from Punjab & Sind Bank.

Sammaan Capital surged 10.87% after the Reserve Bank of India approved the proposed investment by Avenir Investment RSC, marking a key step towards a change in control of the company. The approval allows the investor, owned by International Holding Company PJSC, to proceed with an investment of approximately Rs 8,850 crore through a preferential issue. Upon completion, Avenir Investment is expected to hold around 41.23% stake in the company, which could rise to 63.36% following an open offer, subject to full subscription.

Global Markets:

Asian markets advanced across the board on Wednesday as comments from U.S. President Donald Trump pointing to potential talks with Iran lifted sentiment, even as Tehran has denied any direct negotiations with Washington.

Speaking at the Oval Office on Tuesday, Trump said the U.S. and Iran were 'in negotiations right now' and suggested Tehran was keen to strike a peace deal, adding he had stepped back from threats to target Iranian energy infrastructure 'based on the fact we're negotiating.'

Overnight on Wall Street, the S&P 500 pulled back on Tuesday, giving back some of the sharp gains seen in the previous session, as crude prices rose again while the Iran war moved further into its fourth week.

The broad market index lost 0.37% and ended at 6,556.37, while the Dow Jones Industrial Average shed 84.41 points, or 0.18%, and settled at 46,124.06. The Nasdaq Composite dropped 0.84% and closed at 21,761.89.

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