Stock market today: The domestic benchmark indices, Nifty 50 and Sensex, rose at the start of trading on Tuesday, March 10, following a significant drop in the previous session, as US President Donald Trump suggested that the Middle East conflict might be resolved “soon,” leading to a decrease in crude oil prices.
As of 9:15 IST, the Nifty 50 increased by 0.7% to reach 24,195, while the BSE Sensex gained 0.8%, climbing to 78,149.59. At the opening, fourteen out of the sixteen major sectors experienced gains. The broader indices for small caps and mid caps both rose by 1.5%.
On Monday, the benchmarks experienced their largest decline in a month, and the volatility index soared to a 21-month peak after crude oil prices surpassed $100 a barrel due to the escalating US-Israeli conflict with Iran, raising concerns about significant disruptions to global supply. On Tuesday, Brent crude prices declined by 4.1% to $94.83 per barrel.
Nifty 50 Outlook by Sagar Doshi, Senior Vice President- Research, Nuvama Professional Clients Group
Nifty 50
Nifty 50 hit a fresh 10.5 month low in Monday’s trade as it completed its initial target of 23,700 odd of its breakdown from bearish head and shoulder pattern seen at the start of this month. Overall target for this pattern continues to be seen for 23,250 odd however follow up downside opens only below 23,700 again. Until then, market can try to bounce back towards 24,300 odd as a gap filling move until 23,700 is not taken down once again. Expect a wide range between 23,700 and 24,300 for the next 2 trading days as India VIX suggests a daily range of 350+ points.
Bank Nifty
Bank Nifty has been underperforming Nifty 50 from the start of this month, given the weight adjustments taking place in frontline private banks and panic profit taking triggered in PSU names. Bank Nifty has slipped below its 200 DMA after a gap of 11 months, and a fresh swing low even after Monday’s panic low is expected to be printed on charts. The recent gap below 200 DMA is likely to remain a resistance / supply zone for the immediate short term on the index. Expect levels near 54,600 odd to unfold in the coming days / weeks.
Stocks To Buy on Tuesday
On stocks to buy on Tuesday, Sagar Doshi of Nuvama recommended three stocks – ABB India Ltd, TVS Motor Company Ltd, and Apollo Hospitals Enterprise Ltd.
ABB India Ltd (BUY): LCP: ₹5,982; SL: ₹5,790; TGT: ₹6,390
ABB has been showing strength in a volatile market, while the scrip has been attracting buyers disproportionately over the past few weeks as capital goods stocks are experiencing sectoral tailwinds. Stock has remained positive all through last week in a widely chaotic broader market scenario reacting to the ongoing war in the middle east. A fresh 52 week highs is likely to unfold on charts given the chart set up.
TVS Motor Company Ltd (SELL): LCP: ₹3,627; SL: ₹3,770; TGT: ₹3,370
Stock has broken down from a 7 month rising trendline which remained unscathed in TVS Motor’s outperformance amongst sectoral peers since July 2025. This breakdown is likely to push prices lower towards its November lows where the 200 DMA on chart also stands as an immediate support.
Apollo Hospitals Enterprise Ltd (BUY): LCP: ₹7,779; SL: ₹7,550; TGT: ₹8,300
Unscathed with the ongoing correction across global equities, hospitals have not seen any price correction as this sector has been independent of any global chaos or AI threats for now. Flows exiting from challenged sectors are finding their map to hospital stocks and Apollo Hospitals is showing strong price current to breakout into fresh all time highs.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
