Final Trade: Sensex rises 1,131 pts; Nifty gains over 1% in the last five days, closes at 22,834

Indian equity markets continued to extend gains for the second straight session on March 18, with the BSE Sensex recovering the 75,000 level and the NSE Nifty closing above 22,800. The broad-based rally saw all sectoral indices close in the green, supported by a robust global trend and fresh buying interest in large-cap stocks.

Sensex rises 1,131 points, Nifty gains 325 points

The 30-share BSE Sensex rose 1,131.31 points or 1.53 per cent to close at 75,301.26, after touching an intraday high of 75,385.76. The NSE Nifty closed 325.55 points or 1.45 per cent higher at 22,834.30.

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Market breadth improves as midcaps, smallcaps outperform
The overall market witnessed good participation, with the BSE Midcap and Smallcap indices gaining more than 2 per cent each. Sectoral indices closed in the positive, with the capital goods, consumer durables, metal, power, and realty stocks driving the momentum with 2-3 per cent gains.

Top gainers: Zomato, ICICI Bank, Tata Motors lead the rally

Among Sensex members, Zomato jumped more than 7 per cent, whereas ICICI Bank, Mahindra & Mahindra, Tata Motors, Larsen & Toubro, Asian Paints, Titan, Kotak Mahindra Bank, and State Bank of India posted substantial gains. But Bajaj Finserv, Bharti Airtel, Tech Mahindra, and Reliance Industries closed in the red.

Bajaj Finserv plummets following announcement of Allianz stake purchase

Bajaj Finserv stocks fell more than 1 per cent after the firm said it would buy a 26 per cent stake owned by Allianz SE in Bajaj Allianz General Insurance and Bajaj Allianz Life Insurance.

Global cues improve market mood

Asian markets, such as Seoul, Tokyo, Shanghai, and Hong Kong, closed higher, while European markets were trading in the green. Wall Street had a positive closing in the last session, improving investor sentiment towards Indian equities.

Analyst view: Strong domestic earnings to drive further upside

"Better sales figures from the US and China helped support mood. Mid and small-cap shares performed better, with all key sectors making gains. This recovery is likely to be boosted by the recent fall in the dollar index and softer crude prices," said Vinod Nair, Head of Research at Geojit Financial Services. He added that persistent FII outflows and uncertainty over tariffs may keep investors wary.

With markets maintaining strong momentum, further upside is expected by analysts, as long as global cues remain favorable and domestic earnings continue to surprise positively.