Sensex Surges 700 Points, Nifty Reclaims 23,750 as IT and Auto Lead Rally

New Delhi, March 18, 2026: The Indian equity markets witnessed a strong wave of optimism during Wednesday’s trading session, with benchmark indices scaling new heights. The BSE Sensex surged by over 700 points, while the NSE Nifty 50 comfortably crossed the 23,750 mark. This bullish momentum was largely driven by a massive recovery in the IT sector and sustained buying interest in the automobile space.

Bulls Dominate Dalal Street

Building on the gains of the previous two sessions, the market opened on a firm note, tracking positive global cues and a slight cooling in crude oil prices. As the day progressed, the rally intensified:

• BSE Sensex: Hit an intraday high of approximately 76,743, gaining nearly 0.85% from the previous close.
• NSE Nifty 50: Reclaimed the psychological level of 23,750, trading at a day’s high of 23,781 during morning trade.

The broader market also showed significant strength, with the Nifty Midcap 100 and Nifty Smallcap 100 indices outperforming the benchmarks by rising over 1.5% each.

Sectoral Performance: IT and Auto Shine

The Nifty IT index was the star performer of the day, snapping a six-day losing streak to surge over 4%. Top gainers in this space included HCLTech, Infosys, and Tech Mahindra, as investors engaged in bargain hunting after a week of sharp corrections.

In the automobile sector, Eicher Motors and Bajaj Auto saw healthy gains, both trading up by approximately 2%. This surge is attributed to steady demand and a general rotation into high-quality cyclical stocks. Bajaj Finance also added to the market’s strength, rising over 2% as credit growth expectations remain robust.

Key Factors Influencing the Rally

Several domestic and international factors are currently playing a pivotal role in the market’s trajectory:

1. US Federal Reserve Meeting: Investors are closely monitoring the outcome of the US Fed’s policy meeting scheduled for later tonight. While rates are expected to remain steady at 3.75%, the commentary on inflation and the US-Iran conflict will be crucial.
2. Oil Prices: Global benchmark Brent crude eased to around $102 per barrel. While still high, the stabilization has provided much-needed relief to oil-importing nations like India.
3. Institutional Activity: Domestic Institutional Investors (DIIs) continue to provide a strong cushion to the market, counteracting the consistent selling pressure from Foreign Institutional Investors (FIIs).

Top Gainers and Losers (Morning Session)

Market Outlook

Technical analysts suggest that the Nifty 50 is facing immediate resistance in the 23,800–23,850 zone. A sustained close above this level could pave the way for a move toward 24,000. On the downside, 23,450 remains a crucial support level. With the volatility index (VIX) showing signs of cooling, the market undertone remains “cautiously positive” heading into the second half of the week.