As per the provisional closing, the barometer index, the S&P BSE Sensex, surged 557.45 points, or 0.73%, to 76,905.51. The Nifty 50 index rallied 159.75 points, or 0.69%, to 23,350.40. In the five trading sessions, the Sensex and the Nifty jumped 4.16% and 4.25%, respectively.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index added 1.14%, and the S&P BSE Small-Cap index jumped 2.05%.

The market breadth was strong. On the BSE, 2,829 shares rose and 1,210 shares fell. A total of 123 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, shed 0.21% to 12.58.

Buzzing Index:

The Nifty Media index added 2.20% to 1,547.70. The index rallied 8.45% in four consecutive trading sessions.

Network 18 Media & Investments (up 8.13%), Dish TV India (up 4.98%), Zee Entertainment Enterprises (up 3.18%), Den Networks (up 2.42%), Sun TV Network (up 2.11%), Tips Music (up 2.03%), PVR Inox (up 1.54%), Hathway Cable & Datacom (up 1.48%), and Nazara Technologies (up 1.07%) were added.

Stocks in Spotlight:

Tejas Networks soared 12.46%. This sharp rise follows the company's recent announcement of receiving Rs 123.45 crore under the Production Linked Incentive (PLI) Scheme. The company announced on 13 March 2025, that it had received the incentive from the Ministry of Communications, Department of Telecommunications, New Delhi, for the financial year 2023-24. This payment is part of the PLI scheme designed to boost domestic manufacturing of telecom and networking products.

IndusInd Bank rose 0.72%. The bank said that its board has decided to appoint an independent professional firm to conduct a comprehensive investigation to identify the root cause of the discrepancies observed in its derivative portfolio.

The independent professional firm will also assess the correctness and impact of the accounting treatment of the derivative contracts with regard to the prevailing accounting standards/guidance, identify any lapses, and establish accountability in relation to the discrepancies identified in the bank's derivative portfolio.

Hindustan Unilever (HUL) rose 0.23%. The company announced that its board of directors has approved an investment to acquire a 14.3% stake in Lucro Plastecycle, a key player in recycled flexible plastics.

Mamata Machinery soared 7.42% after the company announced that it has been granted a US patent for an invention entitled 'Cross Sealing Device' by the United States Patent and Trademark Office for the term of 20 years.

Bharat Heavy Electricals (BHEL) advanced 2.59% after the company announced that it had received a letter of intent (LOI) from Gujarat State Electricity Corporation (GSECL) for the EPC package for the 1x800 MW Ukai Extension Unit-7.

Rail Vikas Nigam added 0.87%. The company announced that it had received a letter of acceptance (LoA) from the National Highway Authority of India for a project worth Rs 554.64 crore.

Tamilnad Mercantile Bank gained 1.47% after the bank announced the appointment of Sanjoy Kumar Goel as chief financial officer (CFO), effective from 20 March 2025, on a contractual basis.

Texmaco Rail & Engineering jumped 6.10% after the company announced that it has invested in a wholly-owned subsidiary, Texmaco Middle East DMCC (Texmaco MED). The paid-up share capital of Texmaco MED is AED 50,000, with Texmaco Rail & Engineering holding 100% ownership of the subsidiary. The company also clarified that the promoter and promoter group have no other interest in the newly incorporated entity.

Adani Energy Solutions advanced 1.83% after the company said that it has won a power transmission project worth Rs 2,800 crore in Gujarat.

Sunita Tools hit an upper circuit of 5% after the company announced that it had received a major letter of intent (LOI) for the supply of empty artillery shells 155mm M107. The contract is valued between Rs 200 crore and Rs 300 crore

Manappuram Finance surged 7.77% after global private investment firm Bain Capital acquired joint control of the Kerala-based non-banking financial company. Bain Capital has entered into definitive agreements to acquire joint control in Manappuram Finance through its affiliates, i.e., BC Asia Investments XXV and BC Asia Investments XIV (Bain Capital), in partnership with the existing promoters, who will continue to stay fully invested.

Global Markets:

US Dow Jones index futures were down 154 points, indicating a weak opening in US stocks today.

European shares tumbled on Friday as investors are digesting monetary policy updates that came from multiple central banks in the region, as well as the U.S. Federal Reserve

Most Asian stocks ended lower as investors remained cautious about prolonged high-interest rates and the potential for increased trade tariffs under President Donald Trump.

Earlier this week, Trump announced that broad reciprocal tariffs, along with sector-specific duties, would take effect on April 2, fueling uncertainty in global markets.

Japanese consumer price index inflation grew slightly more than expected in February, with a rise in underlying inflation fueling bets that the Bank of Japan will keep raising interest rates this year. The national CPI rose 3.7% year-on-year, slightly cooling from January's 4.0%. Core CPI, which excludes fresh food prices, increased 3.0%, compared to 3.2% in January. A more refined core measure, excluding both fresh food and energy, climbed 2.6%, up from 2.5% the previous month. Inflation is still well above the BOJ's 2% target.

The Bank of England kept interest rates unchanged on Thursday, maintaining the benchmark rate at 4.5%. This decision comes as the U.K. economy grapples with global trade uncertainties and the potential for stagnation domestically.

U.S. stock indices reversed early gains to close lower on Thursday, hovering near six-month lows as investor sentiment remained fragile. The S&P 500 fell 0.2% on Friday. The NASDAQ Composite fell 0.3%, while the Dow Jones Industrial Average closed flat.

Microchip Technology Inc. tumbled 6.5% after announcing plans to raise $1.35 billion through convertible stock to repay debt and enter a capped call transaction. Darden Restaurants surged 5% after reporting strong Q3 fiscal 2025 earnings.

Trump's tariff strategy remains a major market concern, especially as he wavers on measures against Canada and Mexico. Meanwhile, China, the eurozone, and other affected regions have outlined retaliatory tariffs, heightening fears of a full-blown trade war.

The US Labor Department data showed that first-time unemployment claims inched up last week. Initial jobless claims rose to 223,000 for the week ending March 15, up from a revised 221,000 in the previous week.

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