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Sensex, Nifty Climb for 3rd Day on Short Covering
18 Mar
Summary
- Indian stock markets rose for the third consecutive day on March 18.
- Market gains were driven by short covering and positive global cues.
- Jaiprakash Power Ventures surged 12% on an approved resolution plan.
Indian equity benchmarks, the Sensex and Nifty 50, experienced an upward trend for the third consecutive session on Wednesday, March 18, 2026. This rally was primarily driven by short covering and positive global market sentiment. A notable factor contributing to the buying interest was a slight decline in crude oil prices, sparked by hopes that the conflict between the US and Iran might be nearing its conclusion.
Despite the market's upward momentum, experts caution that geopolitical uncertainties persist, and it remains premature to definitively declare an end to the US-Iran conflict in the immediate future. Several stocks were highly active in terms of trading volume on the NSE. These included Vodafone Idea, Jaiprakash Power Ventures, Urban Company, MMTC, and Filatex Fashions, among others.
Jaiprakash Power Ventures witnessed significant activity, with over 21 crore shares changing hands. The stock price jumped by 12% during the trading session following an announcement that the NCLT, Allahabad bench, had orally approved a resolution plan submitted by Adani Enterprises on March 17, 2026. Similarly, Urban Company saw over 10 crore shares traded, with its stock price climbing more than 19%, showing consistent recent gains despite market volatility.
MMTC also experienced high trading volume, with more than 9 crore shares transacted, and its stock soared by 19% for the second consecutive day. While the recent surge in MMTC appears to be driven by technical factors, there have been no recent corporate announcements from the company to explain the upward movement.
