Indian equity markets recovered from early losses on March 30, with benchmark indices closing higher after a volatile trading session. The Sensex ended up करीब 630 points, while the Nifty closed above the 22,600 level, although weakness in banking stocks capped the overall gains.
Markets opened sharply lower on Monday, reflecting global cues and geopolitical developments. At 9:16 am, the Nifty50 was down 1.23 percent or 303.30 points at 22,516.30. The Sensex declined 1.38 percent or 1,018.76 points to 72,560 in early trade.
The initial decline was attributed to weakness in global markets and rising tensions between the United States and Iran. Investor sentiment remained cautious during early trading, leading to broad-based pressure.
As the session progressed, buying interest emerged at lower levels, supporting a steady recovery in benchmark indices. By the close, the Sensex had gained करीब 630 points and the Nifty moved above 22,600, indicating continued investor participation at lower valuations.
Despite the recovery in headline indices, broader markets remained under pressure. The Nifty Midcap index declined करीब 1.95 percent, while the Nifty Smallcap index fell 2.31 percent, indicating continued weakness in mid- and small-cap stocks.
The banking sector remained a key drag on the market. Both the Nifty Bank and Nifty PSU Bank indices traded weak, limiting the overall upside in the benchmarks. Given the sector’s significant weight in the indices, its underperformance constrained broader market gains.
In contrast, the metal sector outperformed during the session. The Nifty Metal index registered gains, supported by global cues and movements in commodity prices, providing support to the broader market recovery.
In commodities, crude oil prices rose in international markets. During Asian trading hours, Brent crude futures for March delivery on the Intercontinental Exchange increased 3.36 percent to $114.95 per barrel. The rise in oil prices was driven by supply concerns amid escalating geopolitical tensions, including missile attacks on Israel by Yemen’s Houthi rebels.
Geopolitical developments continued to influence global market sentiment. US President Donald Trump stated that the United States could take control of Iran’s Kharg Island, while also indicating the possibility of a ceasefire in the near term. These developments contributed to heightened uncertainty among investors.
Global markets remained under pressure. In Asia, South Korea’s Kospi index declined करीब 5.3 percent, Japan’s Nikkei 225 fell 4.36 percent, and China’s CSI 300 slipped करीब 1.2 percent. US markets also closed lower, with the S&P 500 down 1.06 percent and the Dow Jones Industrial Average declining 1.67 percent.
In the commodities segment, gold futures declined करीब 2 percent, while silver futures fell 1.32 percent, reflecting shifts in investor positioning amid prevailing market conditions.
In the primary market, Emiac Technologies’ IPO opened for its second day of subscription, with the issue subscribed 0.11 times on the first day. The company aims to raise approximately Rs 31.75 crore through the offering.
In the SME segment, Vivid Electromech’s IPO entered its final day of subscription. The issue was subscribed 0.61 times by the end of the second day and is a book-built issue of approximately Rs 130.54 crore.
Separately, Central Mine Planning & Design Institute’s IPO was listed on the NSE and BSE. The issue had been subscribed 10.17 times by the final day of bidding, indicating investor participation in the offering.
