Stock Market Today: Sensex Nears 75,500, Nifty at 23,416, Gold Surges to Rs. 1,56,996, Oil at $103, Adani Power in Focus

Overview

• Sensex hovered near 75,514 and Nifty around 23,416 as the US-Iran war escalates. Brent crude oil rose 2.81% to $103.06 per barrel

• Gold prices today climbed 0.8% to Rs. 1,56,996. Meanwhile, geopolitical tensions pressured Indian rupee to 92.42, adding stress to overall market sentiment.

• Adani Power share price jumped over 2% to Rs. 157.50, extending its two-day gain to 7.5%, supported by rising electricity demand ahead of summer.

Stock market today kept investors on edge on March 17 with high volatility. Sensex was near 75,514 while Nifty hovered around 23,416 at press time. Both benchmark indices are trading nearly flat. Market sentiment stayed fragile as the US-Iran war doesn’t show any sign of cooling. Crude oil prices have now reached above $103 a barrel, which has sent the rupee to fresh lows. The IT and FMCG sectors dragged the stock market today.

Here is the latest share market news you need to know to make smarter calls, based on Moneycontrol Live Updates. 

Sectoral Performance

Auto and metal stocks led gains in today's share market news. BSE Auto index rose for a second straight session, with M&M jumping 3.18%, Maruti Suzuki up 2.56%, and Hero MotoCorp gaining 1.80%. BSE Metal index climbed nearly 2%, led by NALCO (+4.25%), SAIL (+3.66%), and Tata Steel (+2.64%).

On the losing side, IT and FMCG stocks dragged. Coforge fell 2.72%, Infosys dropped 1.40%, and HCL Technologies slipped 0.91% on the BSE IT index. PSU Banks also fell, with Bank of Maharashtra down 2.38% and Union Bank losing 1.20%.

Stocks in Focus

Here is a table showing the most active stocks, top gainers and losers on Nifty 50 at the time of writing based on Moneycontrol data.

Share Market News: Key Updates

Adani Power share price surged over 2% on Tuesday, extending its two-day gain to 7.5%. The stock hit Rs. 157.50, a three-month high after securing a Letter of Award from Maharashtra State Electricity Distribution Company. Rising electricity demand ahead of summer further boosted the outlook.

IDBI Bank continued its slide, falling another 3% after a 17% crash on Monday. Reports suggest the government may halt its divestment process after financial bids fell short of the floor price. The stock has lost over 19% in just two sessions and is nearing its 52-week low of Rs. 72.

Bajaj Electricals shot up 6.50% after signing a deal to acquire the intellectual property and brand rights of Morphy Richards in India for Rs. 141.4 crore. Reliance Industries signed a $3 billion green ammonia supply deal with South Korea's Samsung C&T for 15 years starting FY29.

Rupee, Gold, and Crude

Indian rupee fell 14 paise to trade at 92.42 against the US dollar, weighed down by rising crude prices and continued FII outflows. FIIs sold equities worth Rs. 9,366 crore on March 16.

On MCX, gold rose 0.8% to Rs. 1,56,996 per 10 grams. Meanwhile, silver jumped 2% to Rs. 2,61,457 per kg. Globally, spot gold firmed to $5,023 per ounce.

Brent crude oil price climbed 2.81% to $103.06 a barrel, reversing March 16th’s losses. The hike came as the Strait of Hormuz disruption continued to threaten global oil supply.

Also Read: IDBI Bank Share Price Crashes 16% to Rs. 77.40 as Government May Halt Stake Sale

Market Outlook

The stock market today suggests that yesterday's rebound was a classic short-covering rally rather than a sustainable bottom. With Brent crude holding above $100 and FIIs dumping equities at an aggressive pace, the path of least resistance remains downward until a geopolitical de-escalation occurs.

Traders must respect the immediate Nifty support zone between 23,100 and 23,200, but a failure to hold these levels could trigger a deeper correction toward the 22,800 mark. Resistance is currently capped at 23,700, and until the indices can close decisively above this level on high volume, the strategy remains defensive. This is a wait-and-watch market where capital preservation is more important than chasing mid-day spikes that lack structural integrity.

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FAQs

1. What is gold price today?

Gold prices moved higher in today’s session as investors looked for safer assets amid global uncertainty. On MCX, gold rose by 0.8% to Rs. 1,56,996 per 10 grams. In the global market, spot gold was also strong at around $5,023 per ounce. Rising geopolitical tensions and higher oil prices are key reasons behind this upward movement in gold prices.

2. Why are Adani Power shares in focus?

Adani Power shares are in focus after the stock gained more than 2% in today’s session and extended its two-day rally to 7.5%. The stock touched Rs. 157.50, which is a three-month high. This rise came after the company secured a Letter of Award from Maharashtra State Electricity Distribution Company, along with expectations of higher power demand during summer.

3. Why is oil prices going up?

Oil prices are rising mainly due to the ongoing US-Iran conflict and disruption in the Strait of Hormuz, which is a key global oil supply route. Brent crude increased by 2.81% to $103.06 per barrel. Supply concerns and geopolitical tensions are pushing prices higher, which is also affecting currencies and stock markets across the world.

4. How did Sensex and Nifty perform today?

Sensex and Nifty showed high volatility throughout the trading session. The Sensex was trading near 75,514 while the Nifty hovered around 23,416 at press time. Both indices opened weak, recovered during mid-session, but later lost momentum and turned flat. The market erased more than 500 points from its intraday highs, showing a lack of strong direction.

5. What is the latest share market news?

The latest share market news highlights a volatile session driven by global tensions and rising crude prices. Auto and metal stocks performed well, while IT and FMCG stocks dragged the market. FIIs continued selling, with outflows of Rs. 9,366 crore. Meanwhile, stocks like Adani Power, Bajaj Electricals, and IDBI Bank saw major movements based on company-specific developments.