Insights
Stock market today: Gift Nifty Jumps; US-Iran war, India VIX to Oil, Gold, Silver rates -Six Stocks to Buy or Sell
Gift Nifty signals a 500-point rebound. Know more on from the US-Iran war, India VIX, Crude oil, Gold, Silver rates, and six stocks to buy or sell today.
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The Indian equity market witnessed a brutal session on Monday, March 23, 2026. The Sensex closed at 72,574.92 after plunging 1958 points. While the Nifty 50 settled at 22,484.85-its lowest level after sliding 629.65 points since April 9,2025.
The Bank Nifty index tanked 1989 points or 3.72% closing at 51,734 as selling pressure intensified across the board.
Sectoral participation was broadly negative, with realty, metals, and banking emerging as the biggest laggards. The broader markets took an even steeper hit, with both mid-cap and small-cap indices declining sharply by nearly 4%.
Gift Nifty Today:The Turnaround Signal
Tuesday’s pre-market picture is starkly different. Gift Nifty opened nearly 500 points higher than its Monday close, indicating a strong gap-up opening for the Indian Stock market on March 24,2026.
Hariprasad K, SEBI-registered Research Analyst and Founder of Livelong Wealth, said that the positive momentum is “largely driven by a sudden shift in global sentiment following signs of potential de-escalation in the on-going Middle East conflict.” The Gift Nifty rebound is being seen as a direct reaction to reports of a potential pause in the US-Iran Military conflict.
US-Iran War: Hope and Uncertainty
The global market breathed a sigh of relief after US President Donald Trump indicated that the US had engaged in discussion with Iran to bring a halt to the war. This development raised expectations in the market that the crude oil prices may soon start to return to normal.
However, in fact, the situation looks far from getting resolved as Iranian Parliament Speaker Mohammad Bagher Ghalibaf denied the existence of any such negotiation. He confirmed these claims are misleading. This is an unofficial divergence while the underlying geopolitical situation has not dissipated.
Asian Markets: Risk Appetite Returns
Asian markets opened strongly on Tuesday, supported by a pullback in crude oil prices following the ceasefire talk optimism. A cooling in oil prices has eased immediate inflation concerns and improved risk appetite across global equities.
For India, which imports over 85% of its crude oil requirements, any sustained decline in crude prices is a significant macro positive action.
Brent Crude oil was quoted at approximately $100.85 per barrel ahead of Tuesday’s session, with technical forecasts indicating a potential test of support near $94 per barrel before any further upside. (Source: Forex)
Gold and Silver Rates Today
Following the recovery in WT1 crude and the US dollar, precious metals came under selling pressure in early morning trading on March 24. Safe-haven demand unwound as risk appetite returned globally.
COMEX Gold opened with a downside gap, touching an intraday low of $4,362.61 per ounce-a decline of over 1% from its previous close.
COMEX Silver opened a little lower and touched an intraday low of $66.953 per ounce, logging a loss of 2.5% against its previous session.
On the domestic front, MCX gold was last seen around ₹1,44,492 per 10 gms and MCX silver in the ₹2,50,000–₹2,65,000/kg range as of March 23.(Source: Business Today)
India VIX: Fear Gauge to Watch
India VIX surged to 26.73 in the previous session-its highest level in recent months reflecting extreme fear and uncertainty amongst option traders.
Analysts expect VIX to moderate towards the 22 zone if Tuesday’s risk on sentiment sustains. A cooling in VIX will lead to compression in option premiums, making long options strategies less effective.
India VIX Level | Market Signal |
Below 15 | Low fear -bullish environment |
15–20 | Moderate caution |
20–25 | High volatility-elevated risk |
Above 25 (Current: 26.73) | Extreme fear-heightened caution |
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Six Stocks to Buy or Sell Today
As recommended by Sumeet Bagadia (Choice Broking) and Ganesh Dongre-Senior Manager (Technical Research, Anand Rathi) for March 24, 2026 intraday trading:
Stock | Exchange | Last Close (approximately) | Recommendation | Rationale |
HCL Technologies (HCLTECH) | NSE/BSE | ₹1,347.40 (Mar 23) | Buy | Strong IT sector rebound; Nifty IT outperforming; 52-week range ₹1,297–₹1,780 |
BEL (Bharat Electronics Ltd) | NSE | — | Buy | Defence PSU with strong order book; recovering from sector-wide selling |
Coforge | NSE | — | Buy | Mid-cap IT momentum play; benefits from IT sector recovery and rupee stability |
Power Grid Corporation of India | NSE | — | Buy | Defensive utility play; stable revenues amid volatility; DII favourite |
Archean Chemical Industries (ACI) | NSE | — | Buy | Specialty chemicals recovery; oversold technically; value buying opportunity |
ACI (Infocom) | NSE | ₹1.18 (Mar 6) | Watch/Sell | Highly speculative; track volumes carefully before taking positions |
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Disclaimer: Stock recommendations above for educational and informational purposes only and do not constitute personal investment advice.Please consult a SEBI registered financial advisor before making any investment decision.
Key Levels Summary for March 24, 2026.
Index/Asset | Support | Resistance | Trend |
Nifty 50 | 21,900–22,000 | 22,800–23,000 | Oversold; bounce likely |
Bank Nifty | 51,500–52,000 | 53,000–54,000 | Cautious positive |
Brent Crude | ~$94/barrel | ~$110/barrel | Correcting from highs |
COMEX Gold | ~$4,362/oz | — | Short-term pullback |
COMEX Silver | ~$66.9/oz | — | Pressure; -2.5% intraday |
India VIX | — | 26.73 (current) | Extremely elevated |
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Conclusion
March 24, 2026 brings a much needed breather for Indian equity markets after Monday’s brutal sell-off.
While the 500 point surge in Gift Nifty signals a positive opening seasoned traders know that gap-up openings in high VIX environments can be deceptive. The fundamental triggers of the US-Iran conflict, elevated crude oil prices, relentless FII selling, and VIX hovering above 26 have not fully resolved.
The six stocks mentioned above are recommendations that offer selective opportunities.But you may align with your risk appetite.
Stay disciplined, informed, and let data guide your decisions. For any unlisted shares, please visit Stockify.
FAQs
Why did we observe a sharp fall in the Indian Stock on March 23,2026?
The sensex crashed due to the US-Iran military conflict. It is an unavoidable situation which pushed Brent Crude oil price above $110 per barrel. This triggered high inflation and rupee depreciation. Combined with aggressive FII selling of over ₹10,414 crore in a single session, affected investor sentiment turned sharply negative, leading to a broad-based sell-off across indices.
What is Gift Nifty?
Gift Nifty traded on the NSE International Exchange at the GIFT city in Gujarat, is a derivative contract on the Nifty 50 index that trades nearly 22 hours a day. It reflects global investor sentiment on Indian equities in real time.
What does an elevated India VIX mean for retail investors?
India’s Volatility Index (VIX) measures the market expectations of volatility over the next 30 days, derived from Nifty option prices. A VIX above 25 indicates extreme fear and uncertainty in the market.
