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Trendlyne Marketwatch
10 Mar 2026
Market closes higher, lifted by a pullback in oil prices following Trump’s remarks
By Trendlyne Analysis

 

Nifty 50 closed at 24,261.60 (233.6, 1.0%), BSE Sensex closed at 78,205.98 (639.8, 0.8%), while the broader Nifty 500 closed at 22,342.95 (286.4, 1.3%). Market breadth is ticking up strongly. Of the 2,742 stocks traded today, 2,114 were in the positive territory, and 583 were negative.

Markets closed higher as oil prices pulled back after Donald Trump said the war could end soon and the US' attacks on Iran were progressing "ahead of schedule." The Indian volatility index, Nifty VIX, fell 19.3% and closed at 18.9 points. Mahindra & Mahindra closed 3.3% higher as its wholesales grew 18.1% YoY to 96,718 units in February, driven by strong demand for its SUV lineup. Exports jumped 11.4% to 3,477 units.

Nifty Midcap 100 & Nifty Smallcap 100 closed in the green, following the benchmark index. Nifty Auto and Nifty Consumer Durables were among the top index gainers today. According to Trendlyne’s Sector dashboard, Fertilizers emerged as the best-performing sector of the day, with a rise of 9.5%.

Asian indices closed higher, while European indices are trading higher, except Russia’s MOEX & RTSI indices. US index futures traded higher, indicating a positive start to the trading session. Crude oil prices traded lower after surging to nearly $120 per barrel on Monday. The pullback came amid hopes of potential diplomatic de-escalation and expectations of coordinated releases from emergency reserves by G7 countries. Meanwhile, investors are awaiting the January US Consumer Price Index (CPI) report, scheduled for release on Wednesday.

  • Relative strength index (RSI) indicates that stocks like AWL Agri Business, Procter & Gamble Hygiene and KPIT Technologies are in the oversold zone.

  • Happiest Minds Technologies surges over 17% as it raises its FY27 revenue growth guidance to 12.5% from 10%, boosted by its AI First strategy and strong demand across segments.

  • Sterling and Wilson Renewable Energy discloses that the Maharashtra State Tax Commissioner has initiated a Goods and Services Tax (GST) search at its Mumbai corporate office under Section 67 of the Maharashtra GST Act, 2017, over alleged non-payment of appropriate tax.

  • Cyient is rising sharply as it enters a partnership with Prospecta to develop a master data management (MDM) solution for the mining, energy and transportation industries.

  • Global prices of fuel and Liquefied Petroleum Gas (LPG) surge as the US-Israel conflict with Iran disrupts energy supplies from the Middle East. The impact is also being felt in India, where oil companies have raised LPG prices. Commercial LPG rates have been increased by Rs 114.5, while domestic LPG prices are up by Rs 60. Meanwhile, reports indicate that the hospitality sector in Maharashtra and Karnataka is facing a severe crisis due to a sudden shortage of commercial LPG cylinders.

  • Optiemus Infracom is rising as its board of directors approves investing Rs 156 crore in its subsidiary, Optiemus Electronics, through a rights issue of 50 lakh equity shares at Rs 312 per share.

  • ICICI Securities initiates coverage on HDB Financial Services with a 'Buy' call and a target price of Rs 900 per share. This indicates a potential upside of 37.9%. The brokerage is confident in the company's long-term growth, driven by strong execution, an improving sector outlook, and strong leadership. It expects the firm to deliver a net profit CAGR of 25% over FY26-28.

  • Shares of InterGlobe Aviation (IndiGo) and SpiceJet rise as crude prices fall after US President Donald Trump signals the Iran war may end soon, easing concerns over Middle East tensions.

  • Jefferies maintains a 'Buy' rating on Ambuja Cements with a target price of Rs 735. The brokerage notes a strategic shift within the Adani Group firm, moving from aggressive capacity expansion to focusing on operational profitability, highlighted by the successful turnaround of the Sanghipuram plant. Although rising petcoke prices present a near-term risk, analysts remain optimistic about the stock’s long-term execution and margin recovery.

  • PTC Industries is rising as its subsidiary, Trac Precision Solutions, signs a memorandum of understanding (MoU) with Coolbrook Oy to jointly machine and manufacture heaters for Coolbrook.

  • Indian Overseas Bank receives a tax demand of Rs 502.3 crore from the Deputy Commissioner of Income Tax, Chennai, for the assessment year 2017-18.

  • Minda Corp is rising as its subsidiary, Spark Minda Green Mobility Systems (SMGM), forms a joint venture (JV) with the UK's Turntide Drivers to manufacture and market EV powertrain components in India. The JV will manufacture motor controllers, axial flux motors, pumps for thermal applications, and other controllers.

  • According to data released by the Association of Mutual Funds in India (AMFI), equity mutual fund inflows rise 8.2% to Rs 25,965 crore in February, up from Rs 24,013 crore in January. Meanwhile, total assets under management (AUM) rise to Rs 82.02 lakh crore from Rs 81.01 lakh crore, reflecting a 1.3% growth.

  • Natural gas stocks like Petronet LNG, GAIL (India) and Indraprastha Gas are rising after President Trump said that the war in the Middle East will end soon, easing concerns over supply constraints.

  • Park Medi World is rising as its board approves the launch of an advanced multi-super specialty hospital in Panchkula, and the expansion of its existing 350-bed facility in Mohali by 150 beds, strengthening its tertiary and quaternary care capabilities. With this, the company’s consolidated bed capacity across the Tricity region (Chandigarh, Mohali, and Panchkula) reaches 850 beds, making it the largest private healthcare network in the region.

  • Viridity Tone LLP sells 2 crore shares of Anthem Biosciences worth Rs 1,260.9 crore through a bulk deal at an average price of Rs 621.1 per share. SBI Mutual Fund and HDFC Mutual Fund picked up the shares.

  • Hinduja Global Solutions surges over 13% after its broadband arm OneOTT Intertainment signs an MoU with the Uttar Pradesh government to roll out Project GANGA, aimed at expanding digital connectivity across the state. The initiative targets connecting over 2 million households in the next 2–3 years by expanding wired broadband access.

  • Arvind SmartSpaces surges over 10% as Bajaj Properties' Chairman, Pirojsha Adi Godrej, acquires 8.2 lakh shares (or 1.7% stake) in the company for Rs 41 crore through a block deal at an average price of Rs 498 per share.

  • Power Grid Corp of India's board of directors approves issuing an unsecured loan worth Rs 5,000 crore fron Union Bank of India and divestment of its entire stake in Central Transmission Utility of India (CTUIL). The board also approves setting up a security operations centre for substations with a Rs 234 crore investment and developing a transmission project in Uganda.

  • Dixon Technologies is rising as it receives approval from the Ministry of Electronics & Information Technology (MeitY) for HKC Overseas to acquire a 26% stake in its arm, Dixon Display Technologies, forming a 74:26 joint venture (JV). The JV will develop, manufacture and distribute display modules in India.

  • Motilal Oswal says Indian defence stocks have been in focus in recent sessions amid the escalating West Asia conflict, as rising geopolitical tensions are expected to boost global military spending and create new opportunities for domestic manufacturers. The brokerage remains positive on the sector, maintaining ‘Buy’ ratings on BEL, HAL, Bharat Dynamics, and Astra Microwave Products.

  • Tata Capital invests Rs 650 crore in its subsidiary, Tata Capital Housing Finance, by subscribing to 1.3 crore shares through a rights issue.

  • Arvind's Managing Director (MD), Susheel Kaul, tenders his resignation, effective March 9.

  • Manorama Industries is rising as its board of directors schedules a meeting on March 12 to consider a proposal to raise funds by issuing equity shares and other securities through a qualified institutional placement (QIP) or other mode.

  • Mahindra & Mahindra is rising as its wholesales grow 18.1% YoY to 96,718 units in February, driven by strong demand for its SUV lineup. Exports jump 11.4% to 3,477 units.

  • The market opened on an upbeat note. Nifty 50 was trading at 24,161.20 (133.2, 0.6%), BSE Sensex was trading at 78,375.73 (809.6, 1.0%) while the broader Nifty 500 was trading at 22,240.50 (184.0, 0.8%).

  • Market breadth is ticking up strongly. Of the 2,182 stocks traded today, 1,890 were on the uptrend, and 249 went down.

Riding High:

Largecap and midcap gainers today include Dixon Technologies (India) Ltd. (10,908, 11.3%), Shriram Finance Ltd. (1,062.90, 7.7%) and Power Finance Corporation Ltd. (412.15, 4.9%).

Downers:

Largecap and midcap losers today include Polycab India Ltd. (7,723, -6.1%), Coforge Ltd. (1,139.20, -2.5%) and Swiggy Ltd. (294.65, -2.2%).

Volume Shockers

13 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Authum Investment & Infrastructure Ltd. (486.35, 20%), Happiest Minds Technologies Ltd. (400.45, 17.6%) and Rashtriya Chemicals & Fertilizers Ltd. (127.68, 16.1%).

Redington Ltd. (259.30, 11.6%) was trading at 21.0 times of weekly average. Aditya Birla Sun Life AMC Ltd. (975.75, 11.9%) and Capri Global Capital Ltd. (165.58, 6.3%) were trading with volumes 13.2 and 8.9 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

6 stocks took off, crossing 52 week highs, while 12 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - Aurobindo Pharma Ltd. (1,285.90, 3.1%), J B Chemicals & Pharmaceuticals Ltd. (2,117.40, 2.2%) and Torrent Pharmaceuticals Ltd. (4,427.80, 1.2%).

Stocks making new 52 weeks lows included - Amara Raja Energy & Mobility Ltd. (789.55, 0.5%) and Bajaj Holdings & Investment Ltd. (10,289, 0.4%).

15 stocks climbed above their 200 day SMA including Nippon Life India Asset Management Ltd. (877.10, 5.2%) and Can Fin Homes Ltd. (854.75, 5.1%). 8 stocks slipped below their 200 SMA including The Ramco Cements Ltd. (1,003.60, -2.1%) and Bharat Petroleum Corporation Ltd. (325.90, -1.6%).

 
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