Pre-Market 19 March 2026: What to Expect as Nifty Nears 23,800

Indian equity markets move into Thursday on the back of a firm close in the previous session. Benchmarks extended gains, supported by strength across most sectors and a recovery in global sentiment.

The Sensex rose 633.29 points, while the Nifty 50 advanced 196.65 points. The move was steady through the day. Indices opened higher and held on to gains despite some volatility, ending near the upper range of the session.

What Drove The Market On Wednesday?

The rally was broad-based, though not across all sectors.

Most sectoral indices ended higher. Real estate, IT, automotive, capital goods, and telecom all saw gains. However, FMCG and metal companies ended in the negative.

Among the particular equities with buying interest were Jio Financial, Tech Mahindra, Infosys, Eternal, and M&M. But stocks like Sun Pharma, NTPC, HUL, Coal India, and Cipla ended the day down.

The rally added close to ₹5 lakh crore to the total market capitalisation of BSE-listed companies.

What Are Global Markets Indicating?

Global cues were relatively supportive through the last session.

In the US, futures moved higher ahead of the Federal Reserve’s policy outcome, which remains a key event for global markets.

European indices also ended in positive territory:

• Germany’s DAX rose 0.7%
• France’s CAC 40 gained 0.9%
• UK’s FTSE 100 edged up 0.2%

Asian markets largely followed the same trend.

Japan’s Nikkei surged 2.9%, while South Korea’s Kospi jumped 5%. Hong Kong and China markets also saw modest gains.

Lower oil prices provided some relief to global equities, especially for import-heavy economies.

Oil, Gold And Macro Cues

Oil prices eased slightly during Wednesday’s session after supply concerns showed signs of easing.

Brent crude dropped slightly to about $103.12 per barrel, although it stayed over $100. WTI crude dropped as well, hovering at $94.65.

The decline came after news that Iraqi shipments had begun, raising expectations of better supplies.

Prior to the US Federal Reserve's announcement, gold prices in commodities saw a decline in early trading.

• MCX gold was trading at about ₹1,55,662 per ten grams.
• The price of silver was about ₹251,200 per kilogram.

Due to changes in oil prices and geopolitical events, both metals have remained volatile in recent sessions.

Technical Levels To Watch

From a technical perspective, the market has shown gradual improvement.

The Nifty has now approached the 23,800–24,000 zone, which is being seen as an immediate resistance area. A move above this band could open the path toward the 24,400 level.

On the downside, support has shifted higher.

The 23,300–23,600 range is now expected to act as a cushion in case of any pullback.

While the trend has turned positive in the short term, traders are being cautious near resistance levels.

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What To Expect In Today’s Market?

The strength seen in the previous session may carry into early trade. Support from global markets could also help keep sentiment steady at the opening.

Attention will now turn to the US Federal Reserve’s policy outcome. Any shift in its stance on interest rates could influence global capital flows as well as currency movements.

Volatility has eased, with India VIX falling about 5.39% to 18.72. Even so, activity from foreign investors will remain an important factor through the day.

For now, the market appears to be moving higher, but not without caution. Many participants are likely to stay selective, focusing on individual stocks rather than taking broad positions.

Sources:

Moneycontrol

ET

Mint