Benchmark stock indices Sensex and Nifty rebounded by nearly 2% on Tuesday (March 24, 2026), tracking a relief rally in Asian peers after U.S. President Donald Trump announced a temporary halt on strikes targeting Iranian energy infrastructure.
The 30-share BSE Sensex jumped 1,372.06 points or 1.89% to settle at 74,068.45. During the day, it soared 1,793 points or 2.46% to 74,489.39.
The 50-share NSE Nifty surged 399.75 points or 1.78% to end at 22,912.40.
Power Grid and State Bank of India were the only laggards from the pack.
Mr. Trump said on social media that he has extended the deadline for Iran to reopen the Strait of Hormuz, the strategically located shipping lane between the Persian Gulf and the Gulf of Oman, and that he will hold off strikes against Iranian energy sites for five days.
“Indian equities witnessed a constructive rebound, with markets closing on a positive note after the sharp sell-off in the previous session. The recovery was largely driven by a moderation in risk perception, as early signs of potential de-escalation in the ongoing U.S.–Iran tensions helped restore some investor confidence,” Hariprasad K., Research Analyst and Founder, Livelong Wealth, said.
The rally also needs to be viewed in context, he said.
“After a sharp, sentiment-driven correction, such rebounds are not uncommon and often reflect a combination of short covering and value buying. Investors typically use such dislocations to accumulate quality stocks at relatively attractive valuations, rather than it being a signal of a structural trend reversal,” Mr. Hariprasad added.
Asian markets rebounded, with South Korea’s benchmark Kospi, Japan’s Nikkei 225 index, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng index ending sharply higher.
Markets in Europe were trading mostly lower. The U.S. market ended higher on Monday (March 23).
“The domestic market witnessed a relief rally following a temporary pause in attacks on Iran’s energy infrastructure, which could lead to further leeway in easing West Asia–related tensions,” Mr. Hariprasad said.
“However, caution persists as investors await greater clarity on the developments around the Strait of Hormuz,” Vinod Nair, Head of Research, Geojit Investments Limited, said.
Investors’ wealth surged by ₹7.56 lakh crore to ₹4,22,78,312.77 crore ($4.50 trillion).
The BSE MidCap Select index jumped 2.77% and SmallCap Select index climbed 2.29%.
All sectoral indices ended higher. Services surged 3.46%, followed by BSE MidSmall Private Banks Quality Tilt (2.99%), industrials (2.98%), Private Banks index (2.63%), consumer durables (2.46%), Bankex (2.40%), consumer discretionary (2.39%), financial services (2.34%), auto (2.30%) and commodities (2.19%).
A total of 2,968 stocks advanced, while 1,295 declined and 168 remained unchanged on the BSE.
“Market sentiment improved as tensions eased regarding the ongoing U.S.-Iran conflict, with crude oil prices dropping more than 11% after Mr. Trump announced a delay in military actions against Iran. This development helped alleviate fears of potential supply shocks, which had previously weighed heavily on investor sentiment. The market’s recovery today can also be attributed to a broader sense of optimism following the massive selloff experienced on Monday (March 23),” Gaurav Garg, Research Analyst, Lemonn Markets Desk, said.
Brent crude, the global oil benchmark, jumped 1.96% to $101.9 per barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth ₹10,414.23 crore on Monday (March 23), according to exchange data. Domestic Institutional Investors (DIIs), however, bought stocks worth ₹12,033.97 crore.
On Monday (March 23), the 30-share BSE Sensex dived 1,836.57 points or 2.46% to settle at 72,696.39. The Nifty tanked 601.85 points or 2.60% to end at 22,512.65.
Published – March 24, 2026 05:36 pm IST
