Stock Market Today: Indian equity benchmarks opened sharply higher on Tuesday, March 10, tracking positive global cues and easing concerns in energy markets. The early rebound came after a steep sell-off in the previous trading session triggered by geopolitical tensions and a surge in crude oil prices.
At the opening bell, the Sensex climbed 586.48 points, or 0.76%, to 78,152.64, while the Nifty 50 advanced 166.95 points, or 0.69%, to 24,195.00, with the benchmark index trading above the 24,200 mark.
Market breadth was firmly positive, with 1,913 shares advancing, 413 declining, and 118 remaining unchanged.
Nifty Today: Top Gainers and Losers
Among the major gainers on the Nifty were InterGlobe Aviation, Asian Paints, Shriram Finance, UltraTech Cement, and Tata Steel, which led the early rally.
On the other hand, ONGC, Reliance Industries, Cipla, Coal India, and Tech Mahindra were among the stocks trading in the red during the session.
Stock Market Yesterday: Monday’s Sharp Market Sell-Off
The rebound in early trade follows a sharp decline in domestic equities during the previous session.
On Monday, benchmark indices ended significantly lower as escalating tensions in the United States–Iran conflict and a sharp spike in crude oil prices weighed heavily on investor sentiment.
The Sensex plunged 1,352.74 points, or 1.71%, to close at 77,566.16, while the Nifty 50 dropped 422.40 points, or 1.73%, to settle at 24,028.05.
The sell-off was largely driven by risk-off sentiment across global markets amid rising geopolitical uncertainty and extreme volatility in energy prices.
Oil Prices Slide, Global Markets Rebound
Global financial markets found some relief on Tuesday as oil prices fell sharply while equities rallied.
The shift in sentiment followed remarks by US President Donald Trump, who suggested that the ongoing US-Israel conflict with Iran could end sooner than initially expected. His comments helped ease concerns in global markets after a day of extreme volatility in energy prices.
The crisis in the oil-rich Middle East has now entered its second week. In an interview with CBS News, Trump said the military campaign was “very complete” and warned that any attempt by Iran to disrupt oil shipments through the Strait of Hormuz would trigger a response of “incalculable” scale.
The Strait of Hormuz is a crucial global energy route, handling roughly 20% of the world’s oil supply, making it one of the most strategically important waterways for global energy markets.
Gold and Silver Prices Today
Precious metals remained relatively stable in international markets as investors continued to monitor developments in the Middle East conflict.
Spot gold eased 0.1% to $5,131.24 per ounce, while US gold futures for April delivery rose 0.7% to $5,141.40.
Meanwhile, spot silver gained 0.4% to $87.32 per ounce.
The cautious movement in bullion prices came after Trump reiterated that he believes the US-Iran conflict “is very complete.”
Why Is Stock Market Rising?
The Indian stock market is recovering from Monday’s crash due to global cues, including the US President’s comments about ending the Iran war. Trump said that the war could conclude sooner than the initial four-week timeframe he had earlier outlined.
However, developments in Iran suggest a different trajectory. According to Reuters, Iran’s hardliners have rallied behind the country’s new Supreme Leader, Mojtaba Khamenei, signalling that Tehran may not be willing to back down in the conflict anytime soon.
The ongoing US-Iran war has effectively shut the Strait of Hormuz, a critical chokepoint through which around one-fifth of the world’s oil and liquefied natural gas flows.
The disruption has pushed crude oil prices significantly higher in recent days. Rising energy costs have intensified inflation concerns globally and further reduced the likelihood of a near-term interest rate cut by the US Federal Reserve, adding another layer of uncertainty for financial markets.
Disclaimer: This content is for informational purposes only and is not financial advice. Always consult a certified financial advisor before making investment decisions.
Zubair Amin is a Senior Journalist at NewsX with over seven years of experience in reporting and editorial work. He has written for leading national and international publications, including Foreign Policy Magazine, Al Jazeera, The Economic Times, The Indian Express, The Wire, Article 14, Mongabay, News9, among others. His primary focus is on international affairs, with a strong interest in US politics and policy. He also writes on West Asia, Indian polity, and constitutional issues. Zubair tweets at zubaiyr.amin
