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LIVE: Oil At $87 On Hopes Of Hormuz Opening; Dollar Cools Off | Nifty Approaches Key Resistance Zone

Indian equity benchmarks, the Sensex and Nifty, are likely to see a flat-to-negative opening today, on March 11, tracking losses in GIFT Nifty, which was trading lower at around 24,330.50.

Track the latest updates on GIFT Nifty right here on Moneycontrol.

After two days of strong selling, the Indian benchmark indices witnessed a relief rally on March 10 amid hopes of geopolitical de-escalation after US President Donald Trump hinted that US military operations in Iran could be coming to an end, which led to a fall in crude oil prices.

At close, the Sensex was up 639.82 points or 0.82 percent at 78,205.98, and the Nifty was up 233.55 points or 0.97 percent at 24,261.60.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Down)

The GIFT Nifty traded marginally lower at around 24,330.50, signalling a flat-to-negative start for the Indian equity markets.

Asian Equities (Rise)

Asian stocks rose as risk sentiment got a lift from a Wall Street Journal report that said the International Energy Agency has proposed the largest release of crude oil reserves in its history.



US Equities (Mixed)

US stocks lost steam on Tuesday, ​with the S&amp;amp;P 500 giving up early gains to skid into negative territory as investors weighed fading hopes for an earlier-than-expected end to the U.S.-Israeli ‌war on Iran against a backdrop of renewed military threats and ongoing worries of economic stagflation.

The Dow Jones Industrial Average fell 34.29 points, or 0.07%, to 47,706.51, the S&amp;amp;P 500 lost 14.51 points, or 0.21%, to 6,781.48, and the Nasdaq Composite gained 1.16 points, or 0.01%, to 22,697.10.



Dollar Index (Up)

The dollar held its ground on Wednesday as traders moved to the sidelines, awaiting cues on what comes next in the U.S.-Israeli war with Iran while mixed messages on a resolution to the conflict kept sentiment frail.



US Bond Yield (Slips)

The yield on 10-year US Treasuries is down 1 basis point at 4.14 percent, and 2-year US Treasuries fell more than 1 basis points at 3.57%.



Asian Currencies (Mixed)

Asian currencies were trading mostly higher in early trade on Wednesday, with the China Renminbi gaining the most, followed by the Indonesian Rupiah and the Taiwan Dollar.



Crude (gains)

Oil prices were up marginally despite the report that the International Energy Agency has proposed the largest release of oil reserves in its history to bring down crude prices that have soared amid the U.S.-Israel war with Iran.



Gold (Up)

Gold and Silver prices were trading higher in the early trade on Wednesday.



Fund Flow Action

On March 10, Foreign Institutional Investors (FIIs) sold equities worth Rs 4,672 crore, while Domestic Institutional Investors (DIIs) purchased equities of Rs 6,333 crore.



Hope you're all set for today's trade. We wish you a profitable day ahead.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

First Tick: Top global cues to watch in today’s trade

Sensex Today | Stock Market LIVE Updates: Nifty Midcap index down marginally and Smallcap indices up 0.5%. Among sectors, metal, media, realty, oil &amp; gas, power, pharma up 0.5% each, while auto, bank, FMCG, IT down 05% each. Adani Ports, Interglobe Aviation, Wipro, NTPC and Hindalco are among major gainers on the Nifty, while losers are Tata Consumer, Max Healthcare, JSW Steel, SBI Life Insurance, Axis Bank.

Sensex Today | Stock Market Live: Sensex sheds 590 pts, Nifty below 24,100; auto, IT, FMCG, banks drag

Live Blog

Sensex Today | Stock Market LIVE Updates: Nifty Midcap index down marginally and Smallcap indices up 0.5%. Among sectors, metal, media, realty, oil &amp;amp; gas, power, pharma up 0.5% each, while auto, bank, FMCG, IT down 05% each. Adani Ports, Interglobe Aviation, Wipro, NTPC and Hindalco are among major gainers on the Nifty, while losers are Tata Consumer, Max Healthcare, JSW Steel, SBI Life Insurance, Axis Bank.

Markets likely to rebound as earnings improve and valuations remain reasonable across caps once tensions ease and oil stabilises, IPO pipeline looks strong, with both large and mid-sized companies preparing to list, Remain positive on domestic-oriented sectors

* Markets likely to rebound as earnings improve and valuations remain reasonable across caps once tensions ease and oil stabilises
* IPO pipeline looks strong, with both large and mid-sized companies preparing to list
* Remain positive on domestic-oriented sectors

shorts/business/daily-voice-markets-could-rebound-as-earnings-strengthen-oil-steadies-nimesh-chandan

* Markets likely to rebound as earnings improve and valuations remain reasonable across caps once tensions ease and oil stabilises
* IPO pipeline looks strong, with both large and mid-sized companies preparing to list
* Remain positive on domestic-oriented sectors

According to Nimesh Chandan, the CIO of Bajaj Finserv AMC, elevated oil prices can create short-term pressure on markets and India’s balance sheet. However, such effects tend to ease if the spike proves temporary and geopolitical tensions subside.

Prior to the latest escalation, markets had already priced in most known risks, and the recent correction largely reflects this new development, he said in an interview with Moneycontrol.

Therefore, he believes that once tensions ease and oil prices stabilise, markets are likely to rebound, supported by improving earnings and reasonable valuations across the large-cap, mid-cap, and small-cap segments.

He also believes the IPO pipeline looks strong, with both large and mid-sized companies preparing to list. “Market volatility may not delay most large IPOs because these offerings take months of preparation, and they are rarely postponed unless the company has specific internal issues or a change in its business model,” he said.

Do you think the worst of the US-Israel-Iran tensions is over, considering the current behaviour of equity markets and oil prices?

Geopolitical developments are inherently difficult to predict, and the trajectory of the current situation remains uncertain. Historically, such events tend to trigger sharp market reactions because they are largely unanticipated and therefore not factored into asset prices. As a result, the initial market response is often driven by sentiment and behavioural biases rather than underlying fundamentals.

Over time, once the immediate shock subsides, markets typically recalibrate and refocus on economic fundamentals. That said, the duration of such situations is hard to estimate. Past conflicts, including the Russia–Ukraine war, persisted far longer than initially anticipated. What we can say is that markets eventually adjust to evolving realities, and we would hope the situation resolves sooner rather than later.

Do you think the market will stage a strong rebound once oil prices stabilise?

Yes, markets are driven by both fundamentals and investor sentiment. From a fundamental perspective, India’s earnings trajectory, particularly in the broader market, has been steadily improving over the past several quarters. At the same time, corporate balance sheets and the overall macroeconomic environment remain robust.

While elevated oil prices can create short term pressure on markets and India’s balance sheets, such effects tend to ease if the spike proves temporary and geopolitical tensions subside. Prior to the latest escalation, markets had already priced in most known risks, and the recent correction largely reflects this new development.

Therefore, once tensions ease and oil prices stabilise, markets are likely to rebound, supported by improving earnings and reasonable valuations across large cap, mid cap, and small cap segments.

Do you think, logically, Iran will have to come to the negotiating table and resolve the issues instead of continuing to face military action from the US and Israel?

It is difficult to anticipate how a country may act. But from a logical perspective, finding a negotiated solution seems more likely than continuing a prolonged conflict. Recent reports show both sides may be more willing to discuss.

As we have seen in cases like the US - Venezuela situation, some geopolitical issues get resolved faster than expected. Since this is not a full-scale war over territory, we can hope that both sides reach a mutually acceptable resolution.

How do you see the Middle East conflict impacting businesses and capital flows?

The impact will vary based on how much a company relies on the Middle East. In short term, companies that have significant business in the Middle East like certain construction firms or airlines operating through Middle Eastern hubs may experience temporary pressure on their earnings and the market has already reacted to some of this.

Also, companies that use crude linked raw materials such as paints or energy intensive companies, stand to suffer if crude or natural gas prices continue to remain at elevated levels. In the near future, if tensions ease and oil prices settle at levels that support economic growth in the Middle East, many of those companies could recover and benefit when that happens.

As for our portfolio, we are primarily invested in domestic economy-oriented companies and not heavily dependent on the Middle East. Consequently, the overall direct impact on our portfolio is limited. There are some portfolio companies that have energy intensive operations and there could be some impact on them.

In terms of capital flow, a strong US dollar and high oil prices usually make investors more cautious about emerging markets, and these markets have already seen some money flowing out. But these outflows can reverse quickly once the situation becomes clearer.

Do you see any impact on private capex? Have you observed a pickup in private capital expenditure?

India’s investment (capex) cycle is strengthening across public, private, as well as household segments. Public capex has remained robust with the combined government investment went up by around 8% in the first 10 months of FY26, the Central government’s spending grew by around 11%, and state government’s spending grew by around 18%.

Private capex is also seeing early signs of revival. In the first 11 months, companies announced projects worth over Rs 32 trillion in areas like data centres, renewable energy, chemicals, metals, and electronics.

Additionally, imports of capital goods used for high-end private investments, rose by 16.5%, the highest since FY23. This is an early indicator of rise in investment activity. Household capex usually picks up after public and private spending rises. As jobs and incomes improve because of ongoing investments, household capex is also expected to increase. Overall, we are positive about all three segments.

Are you highly bullish on the defence sector for FY27, given the geopolitical tensions?

While we are positive about the defence sector, we are also selective. Geopolitical developments prompt the governments including India’s, to strengthen defence capabilities, and both higher budgets and local manufacturing plans support this trend. However, not all defence companies benefit equally.

Some have long project execution cycles, which implies back-ended returns. Shipyards and certain aerospace companies fall into this group. Hence, we follow a bottom-up approach and invest only in companies with strong balance sheet, efficient cashflow cycles, and reasonable valuations. We prefer businesses with shorter execution cycles and clearer visibility on results.

Amid the current market correction, which sectors would you prefer to pick, given your belief in the India growth story?

We remain positive on domestic-oriented sectors, as they are better insulated from global uncertainties.

Preferred sectors include banking and financial services including insurance, consumption, healthcare, with a focus on CRAMS i.e., contract research and manufacturing services and India focused segments rather than US generics, and some cyclical sectors particularly metals, power transmission, cement, capital good. We are currently avoiding sectors with high dependence on global demand, such as IT, owing to demand uncertainties globally.

Do you expect any disruption to the IPO pipeline in FY27?

The IPO pipeline looks strong, with both large and mid-sized companies preparing to list. Market volatility may not delay most large IPOs because these offerings take months of preparation, and they are rarely postponed unless the company has specific internal issues or change in business model. What may change, however, is valuation expectations.

We are already seeing promoters and shareholders becoming more realistic, unlike 18 months ago when IPOs were priced on the higher side. If the market remains under pressure, IPOs in FY27 may be priced more reasonably. Demand from institutional investors for good quality companies should stay strong.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Daily Voice | Markets could rebound as earnings strengthen, oil steadies: Nimesh Chandan

According to Nimesh Chandan, the CIO of Bajaj Finserv AMC, elevated oil prices can create short-term pressure on markets and India’s balance sheet. However, such effects tend to ease if the spike proves temporary and geopolitical tensions subside.

Prior to the latest escalation, markets had already priced in most known risks, and the recent correction largely reflects this new development, he said in an interview with Moneycontrol.

Therefore, he believes that once tensions ease and oil prices stabilise, markets are likely to rebound, supported by improving earnings and reasonable valuations across the large-cap, mid-cap, and small-cap segments.

He also believes the IPO pipeline looks strong, with both large and mid-sized companies preparing to list. “Market volatility may not delay most large IPOs because these offerings take months of preparation, and they are rarely postponed unless the company has specific internal issues or a change in its business model,” he said.

Do you think the worst of the US-Israel-Iran tensions is over, considering the current behaviour of equity markets and oil prices?

Geopolitical developments are inherently difficult to predict, and the trajectory of the current situation remains uncertain. Historically, such events tend to trigger sharp market reactions because they are largely unanticipated and therefore not factored into asset prices. As a result, the initial market response is often driven by sentiment and behavioural biases rather than underlying fundamentals.

Over time, once the immediate shock subsides, markets typically recalibrate and refocus on economic fundamentals. That said, the duration of such situations is hard to estimate. Past conflicts, including the Russia–Ukraine war, persisted far longer than initially anticipated. What we can say is that markets eventually adjust to evolving realities, and we would hope the situation resolves sooner rather than later.

Do you think the market will stage a strong rebound once oil prices stabilise?

Yes, markets are driven by both fundamentals and investor sentiment. From a fundamental perspective, India’s earnings trajectory, particularly in the broader market, has been steadily improving over the past several quarters. At the same time, corporate balance sheets and the overall macroeconomic environment remain robust.

While elevated oil prices can create short term pressure on markets and India’s balance sheets, such effects tend to ease if the spike proves temporary and geopolitical tensions subside. Prior to the latest escalation, markets had already priced in most known risks, and the recent correction largely reflects this new development.

Therefore, once tensions ease and oil prices stabilise, markets are likely to rebound, supported by improving earnings and reasonable valuations across large cap, mid cap, and small cap segments.

Do you think, logically, Iran will have to come to the negotiating table and resolve the issues instead of continuing to face military action from the US and Israel?

It is difficult to anticipate how a country may act. But from a logical perspective, finding a negotiated solution seems more likely than continuing a prolonged conflict. Recent reports show both sides may be more willing to discuss.

As we have seen in cases like the US - Venezuela situation, some geopolitical issues get resolved faster than expected. Since this is not a full-scale war over territory, we can hope that both sides reach a mutually acceptable resolution.

How do you see the Middle East conflict impacting businesses and capital flows?

The impact will vary based on how much a company relies on the Middle East. In short term, companies that have significant business in the Middle East like certain construction firms or airlines operating through Middle Eastern hubs may experience temporary pressure on their earnings and the market has already reacted to some of this.

Also, companies that use crude linked raw materials such as paints or energy intensive companies, stand to suffer if crude or natural gas prices continue to remain at elevated levels. In the near future, if tensions ease and oil prices settle at levels that support economic growth in the Middle East, many of those companies could recover and benefit when that happens.

As for our portfolio, we are primarily invested in domestic economy-oriented companies and not heavily dependent on the Middle East. Consequently, the overall direct impact on our portfolio is limited. There are some portfolio companies that have energy intensive operations and there could be some impact on them.

In terms of capital flow, a strong US dollar and high oil prices usually make investors more cautious about emerging markets, and these markets have already seen some money flowing out. But these outflows can reverse quickly once the situation becomes clearer.

Do you see any impact on private capex? Have you observed a pickup in private capital expenditure?

India’s investment (capex) cycle is strengthening across public, private, as well as household segments. Public capex has remained robust with the combined government investment went up by around 8% in the first 10 months of FY26, the Central government’s spending grew by around 11%, and state government’s spending grew by around 18%.

Private capex is also seeing early signs of revival. In the first 11 months, companies announced projects worth over Rs 32 trillion in areas like data centres, renewable energy, chemicals, metals, and electronics.

Additionally, imports of capital goods used for high-end private investments, rose by 16.5%, the highest since FY23. This is an early indicator of rise in investment activity. Household capex usually picks up after public and private spending rises. As jobs and incomes improve because of ongoing investments, household capex is also expected to increase. Overall, we are positive about all three segments.

Are you highly bullish on the defence sector for FY27, given the geopolitical tensions?

While we are positive about the defence sector, we are also selective. Geopolitical developments prompt the governments including India’s, to strengthen defence capabilities, and both higher budgets and local manufacturing plans support this trend. However, not all defence companies benefit equally.

Some have long project execution cycles, which implies back-ended returns. Shipyards and certain aerospace companies fall into this group. Hence, we follow a bottom-up approach and invest only in companies with strong balance sheet, efficient cashflow cycles, and reasonable valuations. We prefer businesses with shorter execution cycles and clearer visibility on results.

Amid the current market correction, which sectors would you prefer to pick, given your belief in the India growth story?

We remain positive on domestic-oriented sectors, as they are better insulated from global uncertainties.

Preferred sectors include banking and financial services including insurance, consumption, healthcare, with a focus on CRAMS i.e., contract research and manufacturing services and India focused segments rather than US generics, and some cyclical sectors particularly metals, power transmission, cement, capital good. We are currently avoiding sectors with high dependence on global demand, such as IT, owing to demand uncertainties globally.

Do you expect any disruption to the IPO pipeline in FY27?

The IPO pipeline looks strong, with both large and mid-sized companies preparing to list. Market volatility may not delay most large IPOs because these offerings take months of preparation, and they are rarely postponed unless the company has specific internal issues or change in business model. What may change, however, is valuation expectations.

We are already seeing promoters and shareholders becoming more realistic, unlike 18 months ago when IPOs were priced on the higher side. If the market remains under pressure, IPOs in FY27 may be priced more reasonably. Demand from institutional investors for good quality companies should stay strong.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Sensex and Nifty rebounded after two days of selling., Broader indices outperformed, with Midcap and Smallcap rising., Auto, Consumer Durables, and PSU Bank indices saw strong gains.

* Sensex and Nifty rebounded after two days of selling.
* Broader indices outperformed, with Midcap and Smallcap rising.
* Auto, Consumer Durables, and PSU Bank indices saw strong gains.

Indian benchmark indices rebounded on March 10 after US President Trump hinted at ending military operations in Iran, easing crude prices. Sensex rose 639.82 points, Nifty 233.55. Broader indices outperformed; most sectors gained except IT and oil & gas.

shorts/business/taking-stock-markets-rebound-on-hopes-of-de-escalation-nifty-above-24-250-sensex-up-640-pts

* Sensex and Nifty rebounded after two days of selling.
* Broader indices outperformed, with Midcap and Smallcap rising.
* Auto, Consumer Durables, and PSU Bank indices saw strong gains.

After two days of strong selling, the Indian benchmark indices witnessed a relief rally on March 10 amid hopes of geopolitical de-escalation after US President Donald Trump hinted that US military operations in Iran could be coming to an end, which led to a fall in crude oil prices.

At close, the Sensex was up 639.82 points or 0.82 percent at 78,205.98, and the Nifty was up 233.55 points or 0.97 percent at 24,261.60.

Broader indices outperformed the main indices with Nifty Midcap index adding 1.6 percent and Smallcap indices rising 2 percent.

The total market capitalisation of BSE-listed companies surged by Rs 6.5 lakh crore to Rs 447.59 lakh crore.

Also Read - <a href="https://www.moneycontrol.com/news/business/markets/retail-investors-and-mutual-funds-now-own-36-of-nifty-50-free-float-says-sebi-chief-13855369.html">Retail investors and mutual funds now own 36% of Nifty 50 free float, says SEBI chief</a>

Biggest Nifty gainers were Shriram Finance, Interglobe Aviation, Eicher Motors, Tata Motors Passenger Vehicle, M&amp;M, while losers included Infosys, Eternal, Bharti Airtel, ONGC, Reliance Industries.

Among sectors, except IT and oil &amp; gas all other indices ended in the green with Auto index rose 3 percent, Consumer Durables index added 2.6 percent, PSU Bank index rose 2.2 percent.

Also Read - <a href="https://www.moneycontrol.com/news/business/markets/geopolitical-shocks-trigger-sharp-market-corrections-followed-by-strong-rebounds-13855095.html">Geopolitical shocks trigger sharp market corrections followed by strong rebounds</a>

In stock specific, Dixon Technologies shares added 12% on government approval for HKC Overseas investment in display arm, Uno Minda shares rose 3% after Jefferies initiates 'buy' rating, Minda Corporation shares gained nearly 2% on signing JV agreement with Turntide Drives, Solex Energy shares surged 6% on capacity addition approval, Cyient shares gained 5% on strategic partnership with Prospecta.

Hinduja Global Solutions shares surged 9% after arm signs MoU with State Transformation Commission, UP, Marine Electricals (India) share price rose nearly 2% on orders win of Rs 27.21 crore, Borosil shares added 12% after board approves to set-up of a new manufacturing facility at Bharuch expansion of the production capacity at Jaipur plant, Ramco System shares rose 6.5% on selecting by Tata Advanced Systems.

Also Read - <a href="https://www.moneycontrol.com/news/business/personal-finance/oil-shock-market-slide-why-investors-shouldn-t-panic-during-corrections-13855158.html">Oil shock, market slide: Why investors shouldn’t panic during corrections</a>

More than 220 stocks touched their 52-week low, including Sapphire Foods, Jubilant Pharmova, TCS, Bajaj Holdings, Devyani International, Amara Raja, Bata India, Procter and Gamble Hygiene and Health Care, Gujarat Gas, among others. <a href="https://www.moneycontrol.com/stocks/market-stats/52-week-low-bse/?indexName=BSE%2520500&amp;id=12">Click to View More</a>

Also Read - <a href="https://www.moneycontrol.com/news/business/markets/india-silver-etfs-see-first-net-outflow-in-28-months-in-february-13855890.html">India silver ETFs see first net outflow in 28 months in February</a>

Outlook for March 11

Rupak De, Senior Technical Analyst at LKP Securities

The Nifty staged a decent recovery and ended the day with gains after a volatile session. However, the index appears to be approaching a resistance zone, and the 24300–24350 range could act as an area where sellers may look to re-enter the market.

Overall, the sell-on-rise scenario is likely to persist. On the downside, immediate support is placed at 24150; a break below this level could trigger renewed selling pressure. If the index slips below 24150, it may decline further towards 23800.

Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities

On Tuesday, the benchmark index Nifty opened with a gap up as global crude oil prices corrected sharply after briefly touching a high of $116.19 per barrel. Post the positive opening, the Nifty slipped to an intraday low of 24080, but the index then moved into a steady upward trajectory, indicating renewed buying participation. It eventually closed at 24261.60, registering a gain of nearly 1%. The daily chart shows a small bodied candle with a long lower shadow, highlighting demand at lower levels. The daily RSI also saw a mild rebound, reflecting stabilisation in momentum after recent volatility.

Going ahead, the zone of 24370-24400 will act as an important hurdle for the index. Any sustainable move above 24400 will lead to extension of pullback rally upto the 24650 level. On the downside, the 24160–24130 zone will act as immediate support for the index.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Taking Stock: Markets rebound on hopes of de-escalation; Nifty above 24,250, Sensex up 640 pts

After two days of strong selling, the Indian benchmark indices witnessed a relief rally on March 10 amid hopes of geopolitical de-escalation after US President Donald Trump hinted that US military operations in Iran could be coming to an end, which led to a fall in crude oil prices.

At close, the Sensex was up 639.82 points or 0.82 percent at 78,205.98, and the Nifty was up 233.55 points or 0.97 percent at 24,261.60.

Broader indices outperformed the main indices with Nifty Midcap index adding 1.6 percent and Smallcap indices rising 2 percent.

The total market capitalisation of BSE-listed companies surged by Rs 6.5 lakh crore to Rs 447.59 lakh crore.

Also Read - Retail investors and mutual funds now own 36% of Nifty 50 free float, says SEBI chief

Biggest Nifty gainers were Shriram Finance, Interglobe Aviation, Eicher Motors, Tata Motors Passenger Vehicle, M&amp;amp;M, while losers included Infosys, Eternal, Bharti Airtel, ONGC, Reliance Industries.

Among sectors, except IT and oil &amp;amp; gas all other indices ended in the green with Auto index rose 3 percent, Consumer Durables index added 2.6 percent, PSU Bank index rose 2.2 percent.

Also Read - Geopolitical shocks trigger sharp market corrections followed by strong rebounds

In stock specific, Dixon Technologies shares added 12% on government approval for HKC Overseas investment in display arm, Uno Minda shares rose 3% after Jefferies initiates 'buy' rating, Minda Corporation shares gained nearly 2% on signing JV agreement with Turntide Drives, Solex Energy shares surged 6% on capacity addition approval, Cyient shares gained 5% on strategic partnership with Prospecta.

Hinduja Global Solutions shares surged 9% after arm signs MoU with State Transformation Commission, UP, Marine Electricals (India) share price rose nearly 2% on orders win of Rs 27.21 crore, Borosil shares added 12% after board approves to set-up of a new manufacturing facility at Bharuch expansion of the production capacity at Jaipur plant, Ramco System shares rose 6.5% on selecting by Tata Advanced Systems.

Also Read - Oil shock, market slide: Why investors shouldn’t panic during corrections

More than 220 stocks touched their 52-week low, including Sapphire Foods, Jubilant Pharmova, TCS, Bajaj Holdings, Devyani International, Amara Raja, Bata India, Procter and Gamble Hygiene and Health Care, Gujarat Gas, among others. Click to View More

Also Read - India silver ETFs see first net outflow in 28 months in February

Outlook for March 11

Rupak De, Senior Technical Analyst at LKP Securities

The Nifty staged a decent recovery and ended the day with gains after a volatile session. However, the index appears to be approaching a resistance zone, and the 24300–24350 range could act as an area where sellers may look to re-enter the market.

Overall, the sell-on-rise scenario is likely to persist. On the downside, immediate support is placed at 24150; a break below this level could trigger renewed selling pressure. If the index slips below 24150, it may decline further towards 23800.

Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities

On Tuesday, the benchmark index Nifty opened with a gap up as global crude oil prices corrected sharply after briefly touching a high of $116.19 per barrel. Post the positive opening, the Nifty slipped to an intraday low of 24080, but the index then moved into a steady upward trajectory, indicating renewed buying participation. It eventually closed at 24261.60, registering a gain of nearly 1%. The daily chart shows a small bodied candle with a long lower shadow, highlighting demand at lower levels. The daily RSI also saw a mild rebound, reflecting stabilisation in momentum after recent volatility.

Going ahead, the zone of 24370-24400 will act as an important hurdle for the index. Any sustainable move above 24400 will lead to extension of pullback rally upto the 24650 level. On the downside, the 24160–24130 zone will act as immediate support for the index.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

10 out of 18 years BSE Auto has given positive returns in March.

Type	R1	R2	R3	PP	S1	S2	S3
Classic	59,670.91	60,155.05	60,982.00	58,843.96	58,359.82	57,532.87	57,048.73
Fibonacci	59,344.79	59,654.21	60,155.05	58,843.96	58,343.12	58,033.70	57,532.87
Camarilla	59,306.96	59,427.15	59,547.33	58,843.96	59,066.60	58,946.41	58,826.23

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