Sensex Jumps 350+ Points, Nifty Above 23,200; Cement, Steel, and ITC Lead Market Gains

The Indian stock market started the week on a positive note, with benchmark indices trading higher in early deals on March 16. Gains in sectors such as cement, steel, and FMCG helped lift the market, while investors continued to monitor global developments and geopolitical tensions.

Stock Market Performance in Early Trade

In early trading, the benchmark indices moved higher.

The BSE Sensex rose 396 points (0.53%) to around 74,960, while the Nifty 50 gained 122 points (0.53%) to trade near 23,273.

At the opening bell, the market had already shown positive momentum. The Sensex opened higher by 145 points at 74,709, while the Nifty climbed 81 points to about 23,232.

Global Factors Influencing the Market

Several global developments are currently influencing investor sentiment.

West Asia Conflict

Tensions involving the United States, Israel, and Iran have intensified in recent weeks. The conflict escalated after coordinated airstrikes by US and Israeli forces in Iran on February 28, leading to missile and drone responses targeting shipping routes near the Strait of Hormuz.

Because the region is a major energy supplier, investors are closely watching the situation as it could impact global oil prices and financial markets.

US Federal Reserve Meeting

The Federal Reserve will begin its two-day policy meeting on March 17, with the interest rate decision expected on March 18. Global markets will closely track the outcome, as it could influence capital flows and market sentiment worldwide.

Global Market Trends

Asian markets showed mixed performance during early trade.

Japan’s Nikkei 225 and TOPIX slipped slightly, while South Korea’s Kospi gained nearly 1%. Australia’s S&P/ASX 200 also edged lower.

Meanwhile, US markets closed lower in the previous session. The S&P 500, Nasdaq Composite, and Dow Jones Industrial Average all ended the day in negative territory.

Currency, Commodities and Other Indicators

US Dollar

The US Dollar Index has strengthened recently and is trading around the 100 level, the highest since April 2025.

Crude Oil Prices

Oil prices remain elevated due to geopolitical tensions. US crude was trading near $98.7 per barrel, while Brent crude hovered around $103.7 per barrel.

Gold Prices

Gold prices remain in focus globally. In international markets, gold traded near $5,028 per ounce. On the Multi Commodity Exchange of India (MCX), April gold futures were trading around ₹1,58,400 per 10 grams.

FII and DII Activity

Foreign investors continued to sell heavily in the Indian market.

According to provisional data, foreign institutional investors (FIIs) sold shares worth ₹10,716 crore on March 13, marking the biggest outflow since October 2025.

However, domestic institutional investors (DIIs) provided support by buying equities worth ₹9,977 crore.

Previous Trading Session

In the previous session on March 13, the market had closed sharply lower.

The BSE Sensex fell 1,471 points (1.93%) to 74,563, while the Nifty 50 dropped 488 points (2.06%) to 23,151.

Sector Performance

During the previous trading session, the Tea and Coffee segment recorded gains of 1.35%, while FMCG stocks saw a slight decline of 0.06%. The Personal Care segment also edged lower with a 0.31% drop.

Also Read: Groww Launches New ETF Tracking Nifty PSU Bank Index: NFO Open Till March 20!

Best and Worst Performing Business Groups

Among business groups, the Manipal Group led the gains with a 4.19% rise, followed by the Muthoot Group which gained 2.67%, and the Arvind Mafatlal Group which advanced 2.08%.

On the downside, the Vedanta Group, L&T Group, Kalyani Group, and Jindal O P Group recorded notable declines in the previous session.

Conclusion

The Indian stock market began the week on a steady note with benchmark indices moving higher in early trade. However, global uncertainties, rising oil prices, and continued foreign investor selling remain key factors influencing market sentiment. 

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