Markets & Startups Brief — March 16

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Indian equities staged a strong recovery on Monday, snapping a three-day losing streak after last week’s sharp correction.

The Nifty 50 closed at 23,408.80, up 257.7 points (+1.11%), while the Sensex gained 938 points (+1.26%) to settle at 75,502.85. Bank Nifty also joined the rebound, rising 1.22% to close at 54,413.40.

The session remained volatile. Nifty briefly slipped below the psychological 23,000 level, touching an intraday low near 22,955 before buyers stepped in decisively and pushed the index toward an intraday high around 23,502.

Despite the strong recovery in the benchmark indices, the broader market remained under pressure, with mid-cap and small-cap stocks continuing to lag the benchmarks.

Market Snapshot

Nifty 50: 23,408.80 (+1.11%)
Sensex: 75,502.85 (+1.26%)
Bank Nifty: 54,413.40 (+1.22%)

Monday’s rally was driven primarily by buying in heavyweight financial stocks.

Large lenders including HDFC Bank, ICICI Bank and State Bank of India provided strong support to the indices as investors stepped in after last week’s sharp correction in banking stocks.

The auto sector also saw recovery buying, with several major automakers rebounding after heavy losses during the previous week.

However, the recovery remained selective. Oil marketing companies such as BPCL, HPCL and Indian Oil declined after concerns that rising crude prices could pressure refining margins.

Real estate stocks also lagged the broader market as investors remain cautious about the outlook for interest rates and inflation.

Crude oil remains one of the most important macro factors influencing global markets.

Brent crude prices have surged above $100 per barrel amid rising geopolitical tensions in the Middle East and concerns about potential supply disruptions.

For India — one of the world’s largest oil importers — sustained high crude prices create multiple economic risks including higher inflation, pressure on the current account deficit and rising input costs for companies.

Because of this, investors are closely monitoring developments in global energy markets and geopolitical events which could influence market direction in the coming weeks.

Consumer health platform Mosaic Wellness has raised ₹200 crore from 360 ONE to expand its portfolio of digital health brands including Man Matters and Bodywise.

Calicut-based confectionery startup Fulva has secured investment from boAt co-founder Aman Gupta. The premium D2C brand has already served more than 50,000 customers across 15 countries and plans to expand its international presence.

Meanwhile, fintech unicorn Razorpay has appointed Axis Capital, Kotak Mahindra Capital, JP Morgan and Citi as bankers for a potential $700 million IPO, signaling early preparations for one of India’s most anticipated fintech listings.

Monday’s rebound suggests buyers are still willing to step in at lower levels. However, with crude oil prices elevated and global risks still evolving, markets may remain volatile in the near term.

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This newsletter is for informational purposes only and is not investment advice.