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Indian stocks saw renewed buying interest in Tuesday's session, March 23, as tensions in West Asia showed signs of de-escalation, bringing back demand for riskier assets, which were heavily sold off in recent sessions amid concerns of prolonged inflation, driven by stubbornly high energy prices.

The Nifty 50 surged 1.65% to the 22,883 level, recovering most of the previous day’s losses, while the S&P BSE Sensex also climbed 1.87% to 74,059. The broader markets, too, staged a sharp recovery, with the Nifty Midcap 100 and Nifty Smallcap 100 indices each concluding with gains of 2.7%.

All major sectoral indices finished in the green, with Nifty Media leading the gains with a 3.40% surge, followed by Nifty Auto, Nifty Private Bank, Nifty Metal, and Nifty IT, all rising over 1.7%. Others, such as Nifty PSU Bank, Nifty Realty, Nifty Oil & Gas, and Nifty FMCG, also advanced between 1.3% and 1.7%.

US President Trump on Monday signalled a delay in strikes on energy infrastructure for five days, which was seen as a potential step toward de-escalation. He also said that the US and Iran have had very good and productive conversations over the last two days regarding a complete and total resolution of hostilities in the Middle East.

Shortly after Trump’s statement, crude oil prices crashed nearly 11% in the previous session. The drop has boosted buying in crude-sensitive stocks such as paints, chemicals, airlines, and OMCs.

However, Iran reportedly rejected Trump’s claims, with top officials in Tehran stating that no discussions had taken place with the US, while attacks continued for the 25th day.

BLS International Services was the top performer among Nifty 500 constituents, with the stock surging 17% to ₹259 apiece. It was followed by Alkyl Amines Chemicals and Linde India, which gained 14% and 9.4%, respectively.

Shares of InterGlobe Aviation jumped 5.2% to ₹4,150, snapping a three-day losing streak. Likewise, OMC stocks saw renewed buying interest, with HPCL, BPCL, and IOC all closing in the green, gaining 5.53%, 4%, and 0.43%, respectively.

Among auto stocks, Samvardhana Motherson International zoomed 4.3%, while UNO Minda, Tube Investments of India, Hero MotoCorp, Bharat Forge, Bosch, and Ashok Leyland all surged over 3%. Force Motors, too, rose 5.3%.

Platform stocks such as Eternal, Swiggy, and Urban Company also strengthened, gaining 5%, 1.2%, and 3.7%, respectively.

After falling to its lowest level in nearly six years, Asian Paints shares advanced 4.53% to ₹2,217 apiece after the company announced a 6–8% price hike across its portfolio, effective April 10, to offset rising crude oil prices.

Tejas Networks, too, rebounded from the recent slump, with the stock rising 5% to ₹420, recovering some of Monday’s 8% decline. Specialty fluorochemicals maker Navin Fluorine shares also jumped 5.3% to ₹6,195 apiece.

The losers’ list was thin amid broad-based buying, with OneSource Specialty Pharma leading the declines as it dropped 5.26% to ₹1,316 apiece. Finolex Industries was another major laggard, falling 4.6% to ₹160.4 apiece.

Coal India shares also came under selling pressure, slipping nearly 3% to ₹442 apiece. Extending its losing streak to a third straight session, PTC Industries shares declined another 2% to ₹16,583.

Other stocks such as Gujarat Gas, Castrol India, Gujarat State Petronet, and Metropolis Healthcare also fell by over 1.5%.

Disclaimer: We advise investors to check with certified experts before making any investment decisions.

Ksheera Sagar has been working as a Market Research Analyst at LiveMint for the past four years, covering stocks, commodities, and broader financial markets. In this role, he closely tracks daily market movements, corporate earnings, sector trends, and macroeconomic developments.

He has over a decade of experience in the financial services industry and has previously worked with multiple organisations, including global investment bank J.P. Morgan, bringing strong research experience into the newsroom.

During his career, he has gained extensive exposure to equity research, market analysis, and financial data interpretation, strengthening his expertise across asset classes and market cycles.

He is known for his data-driven analysis and crisp, listicle-style market stories that break down complex financial developments across key markets for a wide audience. His strong research skills enable him to write detailed and insightful stories on stocks and sectors, focusing on the underlying factors driving market movements.

His work combines quantitative insights with clear storytelling, presenting financial developments in a clear and structured manner. Moreover, he enjoys writing multibagger and listicle-style copies. Outside of work, Ksheera enjoys playing the piano and exploring new places. He has a keen interest in travel, music, and continuously learning about global markets and economic trends.

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