Equity benchmarks held onto moderate gains at midday on Thursday, though indices pared some of their opening advances as sectoral rotation kept the broader market in check. The Sensex was trading at ₹79,546.59 as of 12.45 pm, up ₹430.40 or 0.54 per cent from its previous close of ₹79,116.19, having opened at ₹79,530.48. The Nifty 50 stood at 24,643.30, gaining ₹162.80 or 0.67 per cent from its prior close of 24,480.50, after opening at 24,615.95.
The mid-session picture reflected a measured recovery after Wednesday’s sharp selloff, in which the Nifty had shed 385 points and the Sensex lost 1,123 points. While geopolitical tensions in West Asia continued to weigh on sentiment, a degree of stability in crude oil prices and firm domestic institutional buying provided support.
Metals staged the sharpest sectoral recovery. The Nifty Metal index was the best performing sectoral index, gaining 2.29 per cent by midday, reversing a portion of the previous session’s steep losses. In contrast, Nifty IT was the worst performer, declining 1.47 per cent amid broader risk-off sentiment toward the technology sector.
Among Nifty 50 top gainers, Hindalco led with a rise of 5.57 per cent to ₹973.15, while Coal India followed with a gain of 4.99 per cent to ₹456.85. BEL advanced 4.48 per cent to ₹466.85, NTPC climbed 3.35 per cent to ₹378.05, and Reliance Industries added 2.97 per cent to ₹1,385.00.
On the losing side, Eternal fell 2.05 per cent to ₹235.80, while HCL Technologies dropped 1.69 per cent to ₹1,341.00. Tech Mahindra declined 1.61 per cent to ₹1,329.50, Adani Enterprises slipped 1.47 per cent to ₹2,046.00, and State Bank of India eased 1.40 per cent to ₹1,158.10.
According to SBI Securities’ Head of Technical and Derivatives Research, Sudeep Shah, the Nifty faces a key support zone at 24,470–24,450. A breach of 24,450 could pull the index toward 24,320–24,300. On the upside, resistance lies at 24,780–24,800, and a sustained move above 24,800 could extend the rally toward 25,950. For Sensex, support is pegged at 79,100 and resistance at 79,900.
Options data pointed to meaningful call writing at the 24,700 and 24,800 strikes, while the 24,500 put held substantial open interest, followed by the 24,400 strike. Nifty’s Put-Call Ratio stood at 0.89, and the Advance-Decline Ratio was 26:24. On the BSE, 2,414 stocks advanced against 1,601 declines, with 163 unchanged. Of the 4,178 stocks traded, 56 touched 52-week highs while 303 hit 52-week lows.
Broader indices also posted gains. The Nifty Next 50 rose 0.78 per cent to 67,194.45, the Nifty Midcap 100 gained 0.78 per cent to 57,148.60, and the Nifty Smallcap 100 was up 0.72 per cent at 16,352.90. The Nifty Financial Services index added 0.27 per cent to 27,061.10, while Nifty Bank lagged at 58,755.05, up just 0.07 per cent.
Crude oil remained a key risk factor. Brent futures were elevated following a US submarine’s reported sinking of an Iranian warship off the Sri Lankan coast, sustaining pressure on India’s import bill and inflation trajectory. India’s VIX, which had surged nearly 40 per cent over the prior two sessions, remained near 21, signalling that near-term volatility is unlikely to abate quickly.
Published on March 5, 2026