Pre-Market 11 Mar 2026: Nifty Climbs 233 Points to 24,261 After Oil Prices Slide

Indian equity markets head into Wednesday after staging a strong recovery in the previous session.

Benchmarks recovered sharply on Tuesday, 10 March, after a two-day losing streak as crude oil prices cooled and global sentiment improved.

The Nifty 50 closed at 24,261.60, up 233.55 points, while the Sensex finished at 78,205.98, up 639.82 points. The index also reclaimed the 24,250 mark, indicating renewed buying interest after the recent decline.

Yesterday’s Market Recap

Tuesday’s session saw steady buying after a cautious start.

During the latter part of the day, the Nifty moved into a consolidation phase. However, buying was not restricted to large-cap companies, as seen by the increase in the Nifty Midcap 100 index and the Smallcap 100 index.

Sectoral Developments

Sector performance showed that sentiment had generally improved.

Leading the gains, the Nifty Auto index increased by almost 3%. Consumer Durables stocks advanced 2.6%, while the PSU Bank index added about 2.2%.

Other sectors such as realty, media and pharma also closed in positive territory.

However, not every sector joined the rally. IT and oil & gas stocks finished lower, making them the only major laggards of the day.

Among the benchmark stocks, Mahindra & Mahindra, IndiGo, Asian Paints, Maruti Suzuki and ICICI Bank were among the top gainers. On the losing side were Infosys, Eternal, Reliance Industries, Bharti Airtel and TCS.

Oil Prices Ease

A sharp fall in oil prices played a major role in improving market sentiment.

Brent crude slipped below the $100 per barrel mark, while US West Texas Intermediate crude dropped nearly 10%. The decline followed comments from US President Donald Trump suggesting that the conflict involving Iran could move toward resolution.

Lower oil prices helped ease fears of supply disruptions that had recently unsettled global financial markets.

Global Markets & Investor Activity

Global markets also showed signs of improvement.

In Asia, South Korea’s Kospi surged 5.35%, while Japan’s Nikkei 225 jumped 2.88%. China’s Shanghai Composite and Hong Kong’s Hang Seng also ended higher.

US markets opened slightly positively. The Dow Jones rose to 47,804.58, gaining 63.78 points, while the S&P 500 added 0.10% and the Nasdaq Composite advanced 0.28%.

Meanwhile, precious metals remained firm. On the MCX, gold traded at ₹161,693 per 10 grams, while silver was quoted at ₹274,808 per kg.

Domestic investors, on the other hand, continue to play a bigger role in supporting the market. Retail investors and domestic mutual funds now hold around 36% of the free-float market capitalisation of Nifty 50 companies. This growing share of domestic capital has helped cushion the market during periods of global volatility.

Technical View

Technically, the Nifty is approaching important levels.

Immediate resistance is placed near 24,300. If the index moves above that level, the next resistance is seen around 24,600.

On the downside, 24,000 remains a key support zone, according to analysts.

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What To Watch Today

Markets entered Wednesday after a session that showed a shift in sentiment.

The rebound on Tuesday indicates that some investors were willing to buy at lower levels once crude prices eased. Global cues and energy prices, however, continue to be major drivers of market direction.

For now, traders are likely to keep a close watch on crude oil movements and global cues as they assess whether the recent recovery can hold.

Sources:

Business Standard

Moneycontrol

Business Insider

ET