Stock Market Today LIVE: Indian stock market benchmark indices Sensex and Nifty trimmed early morning gains to turn green note on Tuesday, March 17, following positive cues from global peers. However, investors remained on edge amid lingering concerns over the ongoing US-Iran conflict in the Middle East, a sharp rise in crude oil prices, and continued strength in the US dollar, all of which have weighed on risk appetite.
Both Sensex and Nifty were trading over 0.5% higher while brader markets outperformed marginally. Among sectors, Nifty Auto and Nifty Metal were leading while Nifty IT lost the most.
Asian Markets Today
Asian markets moved higher, driven by gains in technology stocks, after Nvidia Corp. delivered a strong outlook for artificial intelligence, while optimism around the safe passage of ships through the Strait of Hormuz supported sentiment in US equities.
The MSCI Asia Pacific Index climbed 1.2%, led by tech stocks that are perceived to be less vulnerable to the ongoing Iran conflict. Shares of Samsung Electronics Co. and Taiwan Semiconductor Manufacturing Co. advanced, while South Korea’s benchmark index — often seen as a proxy for AI trends — surged 2.6%. The rally followed Nvidia’s projection that it could generate at least USD 1 trillion in AI chip revenue by the end of 2027.
In broader markets, S&P 500 Futures slipped 0.2% as of 10:36 a.m. Tokyo time. Japan’s Topix gained 1.1%, while Australia’s S&P/ASX 200 rose 0.2%. Hong Kong’s Hang Seng Index advanced 1%, whereas the Shanghai Composite Index remained largely flat. Euro Stoxx 50 Futures also showed little movement.
Meanwhile, the US dollar edged higher after posting its steepest single-day decline in over a month, and Treasury prices were slightly lower.
Crude Oil Prices
Brent crude advanced to over $103 a barrel Tuesday, after dropping 2.8% on Monday. Crude oil prices jumped over more than 2%, reversing some of the previous session’s losses, on worries about supply with the Strait of Hormuz mostly shut.
Brent crude oil price rose 2.81% to $103.06 a barrel, while the US West Texas Intermediate (WTI) crude futures rallied 2.97% to $96.28.
Member nations of the International Energy Agency had already agreed last week to undertake a record release of 400 million barrels from strategic reserves. This move helped calm investor nerves, alongside developments such as a Pakistani oil tanker becoming the first non-Iranian vessel to pass through the Strait of Hormuz with its automatic transponder switched on, according to shipping tracker MarineTraffic.
However, tensions remained elevated as attacks on energy infrastructure persisted, with drones striking key oil fields in the United Arab Emirates and Iraq on Monday. Meanwhile, allies of the US resisted pressure from Donald Trump to support efforts aimed at reopening the crucial shipping route for oil and natural gas tankers.
Gold Rate Today
Silver prices jumped on Tuesday, March 17 supported by easing concerns over prolonged disruptions of crude oil shipments amid prolonged US-Iran conflict. Meanwhile, investors awaited multiple central bank policy decisions this week.
On MCX, silver rate rose 2% to ₹2,61,457 per kg while gold price advanced 0.8% to ₹1,56,996 per 10 grams.
In the international markets, Spot silver rose 0.6% to $81.28 per ounce, while, Spot gold firmed 0.4% to $5,023.19 per ounce as of 0251 GMT. U.S. gold futures for April delivery rose 0.5% to $5,027.20.
Stay tuned to this segment for the latest updates on the stock market today.
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