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The key equity benchmarks traded with strong gains in mid-morning trade, tracking gains in Asian peers and aided by short-covering after steep losses in the previous session. Sentiment was further supported by a decline in crude oil prices. The Nifty traded above the 23,300 level. Metal shares advanced after declining in the past two trading sessions. At 11:30 IST, the barometer index, the S&P BSE Sensex, surged 1,004.59 points or 1.35% to 75,211.83. The Nifty 50 index rose 326.20 points or 1.42% to 23,325.25. In the broader market, the BSE 150 MidCap Index jumped 1.75% and the BSE 250 SmallCap Index added 1.30%. The market breadth was strong. On the BSE, 2,948 shares rose and 990 shares fell. A total of 160 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 3.43% to 22.02. The rupee hit a record low of 93.2550 against the U.S. dollar, as the greenback strengthened further and FII outflows continued unabated amid the ongoing West Asia conflict. In the commodities market, Brent crude for May 2026 settlement fell $2 or 1.84% to $106.65 a barrel. IPO Update: The initial public offer (IPO) of Central Mine Planning & Design Institute received bids for 16,58,880 shares as against 7,97,89,500 shares on offer, according to stock exchange data at 11:25 IST on Friday (20 March 2026). The issue was subscribed 0.02 times. The issue opened for bidding on 20 March 2026 and it will close on 24 March 2026. The price band of the IPO is fixed between Rs 163 and 172 per share. Buzzing Index: The Nifty Metal index rose 2.42% to 11,522.05. The index dropped 3.34% in the past two trading sessions. Lloyds Metals & Energy (up 7.3%), JSW Steel (up 4.43%), Tata Steel (up 4.29%), Jindal Steel (up 3.86%), Steel Authority of India (up 3.21%), Hindustan Zinc (up 3%), NMDC (up 2.94%), APL Apollo Tubes (up 2.9%), Hindustan Copper (up 2.34%) and Vedanta (up 2.33%) jumped. Stocks in Spotlight: Tata Power Company rose 2.92% following reports that the company has signed a Power Purchase Agreement with the Gujarat government for its Mundra power plant. Natco Pharma jumped 2.77% after the company announced the launch of Semaglutide Injection (multi dose vials) in the India market under the brand names of SEMANAT and SEMAFULL. Tata Consultancy Services (TCS) has signed a memorandum of understanding (MoU) with ABB to strengthen collaboration across IT infrastructure, applications, digital and industrial AI initiatives, data centres, and other emerging technologies. Global Markets: Asian markets traded mixed on Friday, following volatile trading on Wall Street overnight, as the Middle East war and disruptions to energy supply keep investors jittery. The People's Bank of China kept its key lending rates steady in March, with the one-year LPR at 3.0% and the five-year LPR at 3.5%, in line with expectations. The decision reflects a cautious stance amid global uncertainties, even as domestic data shows resilience, while property weakness and soft demand persist. Japan's markets were closed for a public holiday Signaling efforts at calming concerns, U.S. President Donald Trump said that he was not deploying ground troops, and Israeli Prime Minister Benjamin Netanyahu stated that Israel would refrain from repeating attacks on Iranian energy facilities. U.S.-aligned countries, including Britain, Canada, France, Germany and Japan issued a joint statement expressing 'our readiness to contribute to appropriate efforts to ensure safe passage through the Strait' of Hormuz. Overnight on Wall Street, the Dow Jones Industrial Average declined 0.44% to 46,021.43 points. The S&P 500 fell 0.27% to end the session at 6,606.49 points, while the Nasdaq Composite slumped 0.28% to 22,090.69. Powered by Capital Market - Live News
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