Stock Market Closing: Sensex Jumps 938 Pts; Nifty 50 Up 257 Pts: What Triggered Rally Despite Iran-US War?

Stock Market Closing: The Indian stock market rebounded strongly on Monday, recovering losses from the previous session as the BSE Sensex surged over 900 points and the Nifty 50 rallied nearly 250 points. The sharp rebound came as investors engaged in value buying after the benchmark indices recorded their steepest weekly decline in the past four years.

Sensex closed 938 points higher at 75,502 points on Monday, with surging nearly 1100 points once during the Monday's trading session. Nifty 50 closed 257 points higher at 23,408 points on Monday with touching an intraday high of 23,502 points.

The sharp rebound in Sensex and Nifty today came amid persistent tensions due to Iran-US war in the Middle East, depreciating value of the Rupee and weaker sentiment prevailing across the global market.

Stock Market Closing: Top Gainers, Top Losers

Nift 50 ended nearly 1.32% higher on Monday, March 16, after seeing around 3% decline in last week. Sensex also jumped around 1.26% on Monday. Top losers of the day were HDFC Life, ICICI Bank, Infosys, TCS, Trent, Concor, Colgate, Exide, KPIT Tech, SBI Card. Top smallcap stocks which saw a sharp decline were Amara Raja, MGL, Inox Wind, AB Real Estate.

Top gainers of the day were AB Real Estate, Inox Wind, etc. Top Nifty 50 gainers of the day were M&M, Grasim, Trent, HDFCBank, Bajaj Finance, Eternal, JSW Steel, ITC, Bajaj Finserve, SBIN, etc.

Why Stock Market Is Rising Today Despite Iran-US War in Middle East?

The stock market rally on Monday came despite persistent Iran-US war in the Middle East. While htere are no signs of any easing in tensions between Iran and US, stock market investors opted for some value buying after Nifty and Sensex saw their sharpest fall last week.

Value Buying Among Investors

Nifty and Sensex declined nearly 3-4% last week. The worst-ever weekly fall in last four years in the Indian stock market, offered an opportunity for investors to make some value buying decisions.

Many traders viewed this pullback as an entry point, supporting Monday's stock market bounce. After the correction, several frontline shares looked cheaper on valuations, prompting fresh buying at lower levels. Such bargain hunting often appears after abrupt declines, as market participants seek short-term opportunities despite broader uncertainty.

Positive News Related To LPG Supply Amid Iran-US War

While Iran-US tensions continued for the second week, the positive news about the supply of LPG prices. External Affairs Minister S Jaishankar, recently pointed to the recent safe passage of two Indian-flagged liquefied petroleum gas carriers, Shivalik and Nanda Devi, through the Strait of Hormuz. The ships are carrying about 92,712 metric tonnes of LPG and are headed to India, with arrivals expected at the ports of Mundra and Kandla, easing near-term supply worries.