GIFT NIFTY Ends at 23,762.50, Up 0.89% as Nifty Rallies Past 23,700, Sensex Jumps 600 Points

Indian Markets Rally on Broad-Based Buying

The Nifty 50 closed above the 23,700 mark while the Sensex surged approximately 600 points or 0.75% to settle at 76,071 on March 18, extending Tuesday's gains on broad-based buying across sectors. The benchmark indices held firm in positive territory through the session, with the Nifty 50 trading in a range of 23,618.45 to 23,835.95 after opening at 23,632.90 against the previous close of 23,581.15.

The rally was led by gains in heavyweight stocks, with select auto and telecom counters among the day's top movers. Maruti Suzuki traded in a range of ₹12,686 to ₹13,100 before closing near ₹12,757, while Bharti Airtel saw intraday volatility between ₹1,791.10 and ₹1,834.50, ending marginally lower at ₹1,788.80.

Market breadth remained positive as investors continued to build positions ahead of key macro events, though specific sector performance data remained limited in available reports. The session saw sustained institutional participation, though detailed FII and DII flow figures were not immediately available at the close.

GIFT NIFTY Tracks Rally, Closes Higher

GIFT NIFTY mirrored the strength in Indian cash markets, closing at 23,762.50, up 210 points or 0.89% from the previous close of 23,552.50. The derivatives contract opened Session II at 23,579.00 and rallied to an intraday high of 23,867.00, trading in a 288-point range before settling near session highs.

The session saw a sharp spike in volatility around midday, with GIFT NIFTY surging from the 23,650 zone to breach 23,800 levels before consolidating. The contract maintained firm momentum through the afternoon, tracking the underlying Nifty's advance as buying intensified in the final hours of cash market trade.

Outlook

GIFT NIFTY heads into the evening session at 23,762.50, positioned near the upper end of the day's range as global cues and overnight developments take focus ahead of Thursday's cash market open.