Stock market opens green: Sensex up 200 points, Nifty up 50
The stock market opened in the green as the trading session began on Wednesday, March 12, with oil and gas, metals, and medis stocks rising the most.
At 9.15 am, the benchmark BSE Sensex was up by 237.34 points or 0.32 per cent, reaching 74,339.66. The broader NSE Nifty opened 52.80 points up or 0.23 per cent in the green, reaching 22,550.70.
This comes after the previous session saw a wider sell-off in Asian markets due to Wall Street tumbling overnight, caused by US President Donald Trump refusing to predict if the US could face a recession due to his tariff policies, driving up investor fears of global economic uncertainty.
Which stocks rose the most?
Among the 30 Sensex stocks, Bharti Airtel rose the most upon open by 2.63 per cent, trading at ₹1,704.95. This was followed by Power Grid Corporation of India, which was up 1.68 per cent, trading at ₹271.85, and Larsen & Toubro, which was up by 0.78 per cent, trading at ₹3,219.10.
Only 8 of the Sensex stocks were in the green.
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How did individual sectors perform?
Among the Nifty sectoral indices, the Nifty Oil & Gas Index rose the most by 0.64 percent, reaching 10,093.75. This was followed by Nifty Metal, which was up 0.50 percent, reaching 8,941.35, and Nifty Media, which was up 0.39 percent, reaching 1,488.20.
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How did the stock market close during the previous session?
The stock market closed in the red after the previous trading session ended on Monday, March 10, 2025.
The benchmark BSE Sensex closed 12.85 points or 0.02 percent in the red, reaching 74,102.32. The broader NSE Nifty however, was up by 37.60 points or by 0.17 percent in the green, reaching 22,497.90.
“The Nifty’s recovery yesterday from the opening drop clearly shows that bulls are in play,” said Akshay Chinchalkar, Head of Research at Axis Securities. “Although the rebound traced a bullish “piercing line” formation, bulls will be emboldened further only if Monday’s high of 22,677 breaks, with a first objective in the 22,720 – 22,798 area.”
He added that “for this to happen though, we need to hold above support at 22,245. Anything under that, and critical support at 22,117 will most likely be tested. For now, bulls have a slight edge.”
Among the Sensex stocks, Sun Pharmaceutical Industries rose the most by 2.76 percent, closing at ₹1,655.65. This was followed by ICICI Bank, which was up 2.49 percent, closing at ₹1,244.80, and Bharti Airtel, which was up 1.93 percent, closing at ₹1,661.20.
Meanwhile, IndusInd Bank fell the most by 27.17 percent, closing at ₹655.95. This was followed by Infosys, which was down 2.48 percent, closing at ₹1660.60, and Mahindra & Mahindra, which was down 2.08 percent, closing at ₹2,645.65.
IndusInd Bank plummeted after its internal review revealed discrepancies in its derivatives portfolio. The stock had been in pressure since last Friday. Its CEO was given a one-year tenure extension, instead of the three-year period the board had requested.
Its stock fell the most by 3.86 percent, closing at ₹900.60 on Monday, and it had fallen the second most during Friday’s close by 3.53 percent, closing at ₹936.80.
14 out of the 30 Sensex stocks were in the green.
Among the Nifty sectoral indices, the Nifty Realty Index rose the most by 3.63 percent, reaching 828.70. This was followed by Nifty Oil & Gas, which was up 1.21 percent, reaching 10,029.60, and the Nifty Midsmall IT & Telecom Index, which was up 1.08 percent, reaching 8,893.95.
In sharp contrast, the Midsmall IT & Telecom Index fell the most by 2.21 percent, reaching 8,798.55 during Monday’s close, the Realty Index fell the second most by 2.04 percent, reaching 799.70, and the Oil & Gas Index fell the third most, by 1.90 percent, reaching 9,909.70.
The Realty Index was also the one which fell the most on Friday’s close by 1.19 percent, reaching 816.35.
“The broader market showed mixed trends, with midcaps holding steady while small caps extended their losses, slipping by 0.6%, although they recovered from the day’s lows,” according to Bajaj Broking.
In the Nifty Realty Index, The Phoenix Mills rose the most (6.95% up), followed by Macrotech Developers (5.32% up), and DLF (4.16% up).
In contrast, DLF had fallen the third most by 3.61% on Monday’s close.
In the Nifty Oil & Gas index, Castrol India rose the most (3.34% up), followed by Bharat Petroleum Corporation (3.02% up), and Indian Oil Corporation (2.85% up).
The Oil & Gas index rose at a time when daily global oil prices are slightly up. The benchmark Brent Crude was up 0.68% or by $0.47 for May 2025 contracts, trading at $70.03 per barrel, while WTI Crude was up 0.74% or by $0.49 for April 2025 contracts, reaching $66.74 per barrel.
In the Nifty Midsmall IT & Telecom Index, Tata Communications rose the most (8.36% up), followed by Indus Towers (3.45% up), and Oracle Financial Services Software (2.05% up).
Only one stock in the index was in the green on Monday’s close. It was Indus Towers, which was up by 0.38% or ₹1.25, having closed at ₹328.65.
Foreign Institutional Investors (FIIs) remained net sellers, offloading ₹2,823.76 crore worth of equities, while Domestic Institutional Investors (DIIs) were net buyers, buying a difference of ₹2,001.79 crore.
“In the upcoming session, a move above 22,550 (For the Nifty) could open the door for 22,700, followed by 22,900, while support is placed at 22,200,” said Kunal Kamble, Senior Technical Research Analyst at Bonanza. “Overall, the outlook remains positive as long as Nifty sustains above 22,200.”
