GIFT Nifty suggests strong start for equities; Iran launches retaliatory strikes post killing of Larijani

GIFT Nifty:

GIFT Nifty March 2026 futures were up 106.50 points, suggesting a strong opening for the Nifty 50 today.

Institutional Flows:

Foreign portfolio investors (FPIs) sold shares worth Rs 4,741.22 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 5,225.32 crore in the Indian equity market on 17 March 2026, provisional data showed.

The FIIs have sold shares worth Rs 70,989.96 crore in March (till 17 March 2026). This follows their cash sales of Rs 6,640.78 crore in February and Rs 41,435.22 crore in January 2026.

Global Markets:

Asia markets rose on Wednesday as investors assess Japan trade data and await U.S. Federal Reserve's interest rate decision.

Markets expect the Fed to keep interest rates steady between 3.5% and 3.75% on Wednesday stateside.

On the data front, Japanese exports increased by 4.2% year-on-year in February. Exports had risen 16.8% jump in the previous month.

The Middle East war continues to escalate, keeping investors on edge. A fresh wave of attacks on the United Arab Emirates' energy infrastructure has heightened fears of prolonged supply disruptions amid the Iran war.

The incidents followed a drone strike on the world's largest ultra-sour gas development, a fire at the UAE's Fujairah Oil Industry Zone, and damage to a tanker near the strategically vital Strait of Hormuz.

In latest development, Iran intensified attacks against U.S. assets in the Middle East and Israel on Wednesday in apparent retaliation against the killing of the country's security chief Ali Larijani overnight, as the weeks-long conflict shows no signs of abating.

Overnight in the U.S., the S&P 500 rose as Wall Street built on the momentum seen in the previous session amid developments in the Iran war.

The broad market index closed up 0.25% at 6,716.09, and the Nasdaq Composite climbed 0.47% to finish at 22,479.53. The Dow Jones Industrial Average added 46.85 points, or 0.1%, to end at 46,993.26.

Domestic Market:

Domestic equity indices ended Tuesday's session with strong gains, extending their rally for the second consecutive day, tracking positive global cues.

However, sentiment remained cautious amid concerns over the US-Iran conflict in the Middle East and elevated crude oil prices, which continue to weigh on investor confidence.

Despite these headwinds, value buying at lower levels helped markets sustain momentum and close in positive territory. The Nifty settled above the 23,550 mark, supported by gains in metal and auto stocks, while weakness in IT and FMCG shares capped the upside.

The S&P BSE Sensex jumped 567.99 points or 0.75% to 76,070.84. The Nifty 50 index rose 172.35 points or 0.74% to 23,581.15. In the two consecutive trading sessions, the Sensex and Nifty jumped 2.02% and 1.86%, respectively.

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