Sensex surged 763.48 points to 74,970.72 and Nifty gained 246.10 points to 23,248.25. The rally was driven by a drop in Brent crude from Rs. 119 to around Rs. 107 per barrel.
Sectoral momentum was broad-based as PSU banks rose over 3%, IT gained around 2% on Accenture guidance, and metals climbed over 2%.
HDFC Bank remained under pressure, falling 2.29% to Rs. 781.40. The bank extended its March decline beyond 10% after the sudden resignation of chairman Atanu Chakraborty over governance concerns.
Reliance Industries gained 2.83% to Rs. 1,424.60 on a ‘buy’ upgrade, while midcaps like BHEL and Tata Elxsi rose over 5%.
Indian stock market today, on Friday, March 20, staged a sharp recovery after suffering its steepest single-day fall since June 2024 in the previous session. Sensex went up 763.48 points, or 1.03%, to 74,970.72. At the same time, Nifty settled at 23,248.25, gaining 246.10 points or 1.07%. At the intraday peak, Sensex had surged as high as 75,234, and Nifty touched 23,336.
The rebound came after Brent crude pulled back from a peak of Rs. 119 per barrel to around Rs. 107, easing pressure on the Indian economy. Israeli Prime Minister Benjamin Netanyahu recently signalled that the country would stop targeting Iran's energy infrastructure. The statements gave markets a much-needed boost. US President Donald Trump also ruled out deploying ground troops, further cooling geopolitical fears.
Here is the latest share market news based on Moneycontrol Live Updates.
All major sectoral indices traded in the green zone. Nifty PSU Bank index led the charge, rising over 3%. Canara Bank jumped 4.23%, Bank of Maharashtra gained 3.85%, and SBI rose 2.79% to Rs. 1,069.40. Nifty IT index gained around 2%, lifted by Accenture's upgraded revenue growth guidance of 3-5% for FY26. TCS added 0.73% to Rs. 2,373.20, and Infosys rose 1.63% to Rs. 1,240.70. BSE Metal index climbed over 2%, with Tata Steel surging 3.82% to Rs. 197.79 and JSW Steel rising 3.53% to Rs. 1,171.80. BSE Power index gained 2.49%, led by Tata Power, which jumped 3.91% to Rs. 414.10
Despite the broader rally, HDFC Bank shares were the biggest losers on the stock market today, falling 2.29% to Rs. 781.40. The stock has now lost over 10% in March alone, its worst monthly decline since March 2020. It crashed after non-executive chairman Atanu Chakraborty abruptly resigned, citing differences over ‘values and ethics.’ The stock hit a fresh 52-week low of Rs. 772 in the previous session.
Jefferies maintained a 'buy' rating with a target of Rs. 1,240. The firm noted that Keki Mistry's appointment as interim chairman for three months should bring continuity. Despite block trades of 5.19 million shares changing hands, selling pressure persisted.
Here is a table showing the most active stocks, top gainers and losers on Nifty 50 at press time based on Moneycontrol data.
| Most Active Stocks | Top Gainers | Top Losers |
|---|---|---|
| HDFC Bank (-1.62%) | JSW Steel (3.55%) | HDFC Bank (-1.62%) |
| Reliance (2.76%) | Tata Steel (3.36%) | Hindalco (-1.12%) |
| Shriram Finance (0.29%) | Coal India (3.32%) | HDFC Life (-0.99%) |
| SBI (1.53%) | Tech Mahindra (3.19%) | Bajaj Finance (-0.52%) |
Reliance Industries share price surged 2.83% to Rs. 1,424.60 after Ambit Capital upgraded it to 'buy' with a target of Rs. 1,667. Reliance Jio also reported adding 24.37 lakh mobile subscribers in January 2026. Happiest Minds jumped 6.50% to Rs. 395.75 on reports of EQT and ITC Infotech looking to acquire a controlling stake.
BHEL rose 5.42% in midcap action, while Tata Elxsi gained 5.81%. Oil Marketing Companies' stocks, HPCL, BPCL, and IOC, jumped up to 6% as crude oil fell. Natco Pharma rose 2.53% to Rs. 960.75 after launching a generic version of Semaglutide on Day 1 of patent expiry in India, priced at Rs. 1,290 per month. Adani Ports rose 1.65% to Rs. 1,378.20, though HSBC trimmed its target to Rs. 1,800 from Rs. 1,850, citing West Asia exposure risks.
Indian rupee touched a fresh record low of 93.18 against the US dollar before settling around 92.89, pressured by high crude prices and the ongoing Middle East conflict. On MCX, gold rose 2.3% to Rs. 1,48,302 per 10 grams, while silver jumped 3.7% to Rs. 2,40,000 per kg. Globally, spot gold was at $4,657.50 per ounce. Brent crude fell to around $107.57 a barrel after the US signalled it may ease sanctions on Iranian oil and explored a release from the Strategic Petroleum Reserve to stabilize prices.
Also Read: Top Growth Stocks to Watch for the Next 10 Years in 2026
The stock market today experienced a relief rally rather than a clear reversal. However, Nifty needs to reclaim and hold above 23,350-23,500 for bulls to regain meaningful control. Any slide below 22,900 could push the index toward 22,500. Crude oil prices remain the key variable; if Brent stays below $110, domestic sentiment could stabilize further.
Indian rupee at record lows and the US Fed holding rates with no cuts expected before 2027 add to the headwinds. Investors should stay selective and focus on fundamentally strong names. It’s better to avoid chasing short-term pullbacks until the market shows sustained strength above key resistance levels.
Also Read: Best AI Stocks to Buy in March 2026 for High Growth
1. Why are oil prices going down?
Oil prices are falling mainly due to easing geopolitical tensions and expectations of increased supply. Israel signaled that it may stop targeting Iran’s energy infrastructure, which reduced fears of supply disruption. The US also hinted at easing sanctions on Iranian oil and possibly releasing reserves. These steps helped bring Brent crude down from around Rs. 119 to near Rs. 107 per barrel.
2. Why is the Indian stock market up today?
The Indian stock market rose sharply due to falling crude oil prices and reduced global tensions. Lower oil prices ease inflation pressure and improve India’s economic outlook. Positive global cues, along with strong buying in PSU banks, IT, and metal stocks, also supported the rally. After a steep fall in the previous session, investors stepped in to buy at lower levels.
3. What is gold price today?
Gold prices moved higher despite the stock market rally. On MCX, gold rose 2.3% to Rs. 1,48,302 per 10 grams, while global spot gold was at $4,657.50 per ounce. The rise is mainly due to ongoing geopolitical uncertainty and a weaker rupee, which increases the cost of imported gold in India.
4. Who is the new chairman of HDFC Bank?
Keki Mistry has been appointed interim chairman of HDFC Bank for three months. This comes after the sudden resignation of Atanu Chakraborty, who stepped down citing differences over values and ethics. The appointment is expected to provide short-term stability, but the stock continues to face pressure due to uncertainty.
5. What is the latest share market news?
The latest share market news includes a strong rebound in benchmark indices, with Sensex rising over 760 points and Nifty crossing 23,200. Reliance Industries gained after a brokerage upgrade, while Happiest Minds surged on acquisition reports. Oil marketing companies jumped up to 6% on falling crude prices, while HDFC Bank remained under pressure amid leadership changes.
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