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The key equity benchmarks continued to trade with substantial gains in early afternoon trade, mirroring positive trends in Asian markets. However, sentiment remained cautious amid concerns over the ongoing US-Iran conflict in the Middle East which continues to weigh on overall risk appetite. The Nifty traded near the 23,800 level. Media shares jumped for second consecutive trading session. At 11:25 IST, the barometer index, the S&P BSE Sensex jumped 689.77 points or 0.92% to 76,774.50. The Nifty 50 index climbed 215 points or 0.91% to 23,797.50. The broader market outperformed the frontline indices. The BSE 150 MidCap Index jumped 1.49% and the BSE 250 SmallCap Index rallied 1.82%. The market breadth was strong. On the BSE, 3,107 shares rose and 819 shares fell. A total of 175 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 4.50% to 18.90. In the commodities market, Brent crude for May 2026 settlement tumbled $2.35 or 2.27% to $101.07 a barrel. IPO Update: The initial public offer (IPO) of GSP Crop Science received bids for 89,82,604 shares as against 89,47,367 shares on offer, according to stock exchange data at 11:25 IST on Wednesday (18 March 2026). The issue was subscribed 1.00 times. The issue opened for bidding on 16 March 2026 and it will close on 18 March 2026. The price band of the IPO is fixed between Rs 304 and 320 per share. Buzzing Index: The Nifty Media index jumped 2.85% to 1,345.15. The index surged 3.99% in two consecutive trading sessions. Nazara Technologies (up 7.19%), Prime Focus (up 3.86%), Network 18 Media & Investments (up 3.56%), Sun TV Network (up 3.4%) and Tips Music (up 3.29%), Hathway Cable & Datacom (up 2.24%), PVR Inox (up 1.94%), D B Corp (up 1.53%) and Zee Entertainment Enterprises (up 1.3%) advaned. Stocks in Spotlight: Ceigall India rose 0.77% after the company said it has secured two contracts from the Punjab Infrastructure Development Board for the construction and development of world-class urban streets in Ludhiana under the Hybrid Annuity Model (HAM). Strides Pharma Science added 2.96% after the company announced the acquisition of multiple generic brands from Sandoz for its Africa business. The agreement spans four key markets, which include Western Sahara (covering 10 countries), Ghana, Nigeria, and Kenya. The branded generics portfolio of Sandoz, as a part of this deal, includes multiple brands across anti-infective, cardiovascular, and dermatology therapeutic segments. Global Markets: Asia markets advanced on Wednesday as investors assess Japan trade data and await U.S. Federal Reserve's interest rate decision. Markets expect the Fed to keep interest rates steady between 3.5% and 3.75% on Wednesday stateside. On the data front, Japanese exports increased by 4.2% year-on-year in February. Exports had risen 16.8% jump in the previous month. The Middle East war continues to escalate, keeping investors on edge. A fresh wave of attacks on the United Arab Emirates' energy infrastructure has heightened fears of prolonged supply disruptions amid the Iran war. The incidents followed a drone strike on the world's largest ultra-sour gas development, a fire at the UAE's Fujairah Oil Industry Zone, and damage to a tanker near the strategically vital Strait of Hormuz. In latest development, Iran intensified attacks against U.S. assets in the Middle East and Israel on Wednesday in apparent retaliation against the killing of the country's security chief Ali Larijani overnight, as the weeks-long conflict shows no signs of abating. Overnight in the U.S., the S&P 500 rose as Wall Street built on the momentum seen in the previous session amid developments in the Iran war. The broad market index closed up 0.25% at 6,716.09, and the Nasdaq Composite climbed 0.47% to finish at 22,479.53. The Dow Jones Industrial Average added 46.85 points, or 0.1%, to end at 46,993.26. Powered by Capital Market - Live News
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