Stock markets jump nearly 2% as Donald Trump halts strikes on Iran’s energy infrastructure

Nifty, and the BSE Sensex closed at 22,912.40 and 74,068.45 points respectively, up 1.78% and 1.89% from the previous session close. Despite being the best session of the weak, the Nifty has slipped 11.45% since February 24, 2026, when it closed at 25424.65 points. Markets have also become considerably cheaper in terms of Price to Earnings ratio — a metric to measure if the price of the stock justifies the earnings it gives–in the past month. Nifty 50 was trading at a P/E of about 21 for a long time and has now come down to 19.7 , according to data from Screenr, a stock screener. This is among the cheapest the Nifty 50 has traded in about five years.

Unlike some of the days in the past weeks, when an improving market doesn’t keep up the optimism, both the indices traded consistently up by 0.8% to 1.5% throughout the day before closing.

The rally was broadbased with 2,480 shares improving and just 805 declining of the 3,369 stocks that traded on Tuesday (March 24, 2026).

The raise was partly on a lower base as no significant change in the stand-off has been noted and partly a slight emergence of clarity with U.S. President Donald Trump saying that he had had a conversation with Iran. The latter however denied.  Brent oil futures also dipped slightly to $99.57 a barrel, coming below $100 after touching $114 a barrel last week. 

“Today’s bounce kindles hopes for a sustained pullback, but follow-through gains are needed to signal a trend reversal,” said Vinay Rajani, Senior Technical Research Analyst, HDFC Securities. Nifty faces may not go beyond  23,378 points, but may also not fall below 22,600, he said.