NIFTY50, SENSEX today: Wall Street cues, FII activity, key things to know before markets open on March 18

The Indian equity benchmarks are set to open higher on Wednesday, March 18, as indicated by GIFT NIFTY futures. NIFTY futures at GIFT City in Ahmedabad rose 38 points or 0.16% to 23,655 amid positive cues from Asian markets.

The Indian equity benchmarks rose for a second straight session on Tuesday. The SENSEX rose as much as 801 points and NIFTY50 index touched an intraday high of 23,657 led by gains in ICICI Bank, Bharti Airtel, Larsen & Toubro, Eternal, Mahindra & Mahindra, Tata Steel and HDFC Bank.

The benchmarks traded in a rangebound session for most part of the day but surged to the day's highest level in the last hour of trade on account of a short covering rally as weekly futures and options contracts for NIFTY50 expired, analysts noted.

The SENSEX ended 568 points higher at 76,070.84 and NIFTY50 index advanced 172 points to close at 23,581.15.

Asian markets

Most of the Asian markets were trading higher tracking decline in crude prices in the international markets. Japan's Nikkei rose 2.05%, South Korea's KOSPI advanced 3.6%, Thailand's SET Index gained 2.05% while China's Shanghai Composite declined 0.2%.

Brent crude oil futures declined 0.8% to $102.59 per barrel amid ongoing geopolitical tensions in West Asia.

As per the latest report by news agency Reuters, Iran's security chief Ali Larijani was killed by Israel, the government confirmed on Tuesday, the most senior figure targeted since the US-Israeli war's first day, while a senior Iranian official said Iran's new supreme leader rejected de-escalation offers conveyed by intermediary countries.

Larijani was widely viewed as one of Iran's most powerful figures and a confidant of slain Supreme Leader Ayatollah Ali Khamenei and his ‌son and successor, Mojtaba. The security chief had a reputation for pragmatic relations with other factions in the ruling system and foreign diplomats, Reuters report added.

Wall Street update

US stocks ended higher on Tuesday as oil prices eased signalling a relief from worries of spiralling inflation, analysts said.

S&P 500 index advanced 0.25%, Sow Jones Industrial Average gained 0.1% and tech heavy Nasdaq rose 0.47%.

FII/DII activity

Foreign institutional investors sold shares worth ₹4,741 crore on Tuesday while domestic institutional investors bought shares worth ₹5,225 crore, data from the National Stock Exchange showed.

The FIIs have so far this month sold shares worth ₹72,938 crore compared with shares worth ₹22,615 bought by them in February, according to the data from National Securities Depository Limited (NSDL).

Stocks to watch

The resource mobilised would be used for the business growth of the bank.

The bonds are issued for a tenor of 10 years, with a call option after 5 years and each anniversary date thereafter, SBI said in a statement.

The issue attracted a good response from investors with bids of approximately 2 times against the base issue size of ₹5,000 crore, it added.

Strides Pharma International AG (SPIAG) has entered into definitive agreements with Sandoz AG, Switzerland, and its group entities for the transaction.

The upfront consideration for the proposed transaction is USD 12 million, payable at closing, Strides Pharma Science said in a regulatory filing.

The NPAs consist of a land parcel and building in Gurugram, Haryana, measuring about 7,800 sq m. The reserve price for the asset has been fixed at ₹250 crore, with a bid increment amount of ₹2.5 crore, as per a notice issued in newspapers.

According to the notice, the total outstanding amount stood at ₹450.85 crore as of November 31, 2024, excluding further interest and charges. The bank has taken physical possession of the property.

The board also cleared the acquisition of a stake in Medica TS Hospital Private Limited (Medica TS Hospital) from Manipal Hospitals Eastern India Private Limited for ₹1.49 crore, Tata Steel said in an exchange filing.

The board has approved the Scheme of Amalgamation amongst Neelachal Ispat Nigam Limited (NINL), Tata Steel and their respective shareholders.

The scheme remains subject to necessary approvals.

The Beverage Company Proprietary Ltd (Bevco) "has executed an agreement dated March 17, 2026, for the acquisition of 100 per cent equity stake of Crickley Dairy Proprietary Ltd, which is incorporated in South Africa", said a regulatory filing by Varun Beverages Ltd (VBL).

It will acquire it from Clark Holdings Proprietary Ltd, the parent entity of Crickley Dairy Proprietary.

Trade setup

The NIFTY50 index managed close above the 20 EMA for the second consecutive day, indicating that the index could remain in the consolidation mode before deciding on the next direction.

The hourly charts show 23,000 as the near-term support and 23,800 as the near-term resistance for the index.

The initial build up for the coming weekly expiry on March 24 indicates a broad trading range of 23,000 to 24,000, with the highest open interest on the 23,000 puts and the 24,000 calls. The data also suggests heavy put concentration between 23,000 and 23,500 levels, indicating sustained support for the index on the downside.