Updated on: Mar 24, 2026 11:34:34 AM IST
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India’s stock market opened higher today after US President Donald Trump postponed the bombing of Iran’s power grid, allaying fears of a deeper energy shock. The 30-share S&P BSE Sensex rose as much as 2.08%, or 1,516.08 points, to an intraday-high of 74,212.47 points even as the wider NSE Nifty 50 surged 1.71%. All 16 major sectors logged gains at the open. The broader small-caps and mid-caps added 1.6% each.
On Monday, Trump said he had ordered the military to postpone strikes against Iranian power plants following “productive conversations” with Tehran. However, Iran’s Parliamentary Speaker posted on social media that no talks had been held with the US, contradicting Trump’s announcement.
“A major drag on the stock market now is the huge selling by FIIs despite the sharp correction in the market,” V.K. Vijayakumar, chief investment strategist at Geojit Investments Ltd. “The continuing weakness in the rupee is the main factor behind this sustained selling by FIIs. Therefore, if some sort of stability is to emerge in the market, rupee should stabilize first.”
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On Monday, Trump said he had ordered the military to postpone strikes against Iranian power plants following “productive conversations” with Tehran. However, Iran’s Parliamentary Speaker posted on social media that no talks had been held with the US, contradicting Trump’s announcement.
“A major drag on the stock market now is the huge selling by FIIs despite the sharp correction in the market,” V.K. Vijayakumar, chief investment strategist at Geojit Investments Ltd. “The continuing weakness in the rupee is the main factor behind this sustained selling by FIIs. Therefore, if some sort of stability is to emerge in the market, rupee should stabilize first.”
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Chakraborty had resigned last week, citing ethical concerns. That led to a rout in the stock of the “systemically important bank”.
