Markets opened higher on Wednesday, extending their recovery for a third consecutive session, as easing crude oil prices and positive global cues lifted sentiment. The BSE Sensexwhich closed at 76,070.84 on Tuesday, opened at 76,367.55 and was trading at 76,340.87, up 270.03 points or 0.35 per cent, at 9:25 am. The NSE Nifty 50which ended the previous session at 23,581.15, opened at 23,632.90 and rose to 23,689.95, gaining 108.80 points or 0.46 per cent, at the same time.
The recovery came as Brent crude futures fell 1.49 per cent to $101.88 per barrel and WTI crude dropped 2.09 per cent to $93.53 per barrel on Wednesday morning, after Iraq and the Kurdistan Regional Government agreed to resume oil exports through the Ceyhan energy hub in Turkey. On the Multi Commodity ExchangeMarch crude oil futures were trading at ₹8,724, down 1.66 per cent from the previous close of ₹8,871.
Among Nifty50 gainers, TCS rose 2.52 per cent to ₹2,451.90, Jio Financial Services climbed 2.31 per cent to ₹243.10, Adani Enterprises advanced 2.19 per cent to ₹2,018.70, IndiGo added 2.14 per cent to ₹4,379.50, and wipro gained 2.11 per cent to ₹195.36. On the losing side, Coal India fell 1.29 per cent to ₹456.30, HDFC Bank slipped 1.06 per cent to ₹836.35, ICICI Bank declined 0.80 per cent to ₹1,278.40, Tata Steel dropped 0.80 per cent to ₹193.86, and Hindalco shed 0.72 per cent to ₹929.90.
Sectorally, information technology and aviation stocks led gains. Banking stocks presented a mixed picture, with private sector lenders under pressure even as the broader financial sector saw buying interest. Metals remained weak, with Tata Steel and Hindalco in the red.
On the institutional front, Foreign Institutional Investors sold equities worth approximately ₹4,741 crore in the previous session, while Domestic Institutional Investors Bought shares worth around ₹5,225 crore, cushioning the downside. India VIX, a measure of near-term volatility, eased to around 19.79.
Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, noted that crude holding around the $102 level without spiking above $120 had enabled the market’s bounce back. “…FIIs have been selectively buying in some sectors like telecom… there is a portfolio churn happening away from IT and highly valued FMCG stocks towards telecom, pharmaceuticals, defense and select financials,” he said, adding that market leaders in these segments “…will continue to be resilient even in a choppy market.”
Globally, US markets extended their recovery on Tuesday, with the Nasdaq rising 0.5 per cent to 22,479, the S&P 500 gaining 0.3 per cent to 5,716, and the Dow edging up 0.1 per cent to 46,993. In Asia, South Korea’s KOSPI jumped over 3 per cent and Japan’s Nikkei rose 2 per cent, after Japanese exports grew 4.2 per cent year-on-year in February. The Indian rupee appreciated 5 paise to close at 92.37 on Tuesday.
All eyes are now on the US Federal Reserve, whose two-day policy meeting concludes on Wednesday. Markets widely expect rates to be held at 3.5 per cent–3.75 per cent. Aakash Shah, Technical Research Analyst at Choice Equity Broking, said markets were “…expected to open on a mildly positive to steady note… supported by stable global cues,” though he cautioned that “…gains may remain capped near resistance zones.”
Ponmudi R, CEO of Enrich Money, pointed out that geopolitical tensions in the Middle East continued to pose risks, noting that “…Iran seems to be well-prepared for long-term resistance, both in terms of systems and leadership continuity, making the situation more complex.” He added that the global order was “…gradually moving from a single dominant influence to a more balanced, multi-polar structure,” which carried important signals for markets.
Dr. Ravi Singh, Chief Research Officer at Master Capital Services, offered a longer-term perspective: “…such geopolitical-led volatility tends to be short-lived, and markets usually stabilize once there is better clarity on the situation.” He said the next leg of any rally was “…likely to be driven by earnings growth and domestic economic momentum,” with structural drivers including consumption demand, infrastructure spending, and credit growth remaining intact.
Technically, the Nifty faces immediate resistance at 23,700–23,750, with a breakout potentially opening the path to 23,800–24,000. Support is placed at 23,400–23,450. The Sensex faces resistance at 76,400–76,500, with support around 75,500.
Published on March 18, 2026
