Market Commentary (closing) for 05th March 2026 by Bajaj Broking Research
Below the Market Commentary (closing) for 05th March 2026 by Bajaj Broking Research
Market Closing Commentary
Indian equity markets ended on a strong note on 5th March, supported by reports suggesting a possible resolution to the ongoing U.S.–Iran conflict. The benchmarks initially surged but gave up part of their intraday gains later in the session. Despite the partial pullback, the Nifty snapped its three-day losing streak and reclaimed the 24,750 mark, while the Sensex finished with solid gains.
At close, the Sensex rose 899.71 points, or 1.14%, to settle at 80,015.90, while the Nifty advanced 285.40 points, or 1.17%, to end at 24,765.90.
Investor sentiment strengthened as the India VIX declined nearly 15%, signalling easing volatility and a renewed appetite for risk among market participants. Broader markets outperformed the benchmarks, with the Nifty Midcap and Nifty Small cap indices gaining 1.52% and 1.58%, respectively. On the sectoral front, most indices ended in positive territory, led by infrastructure and metals. The Nifty Infra index rose 2.21%, while the Nifty Metal index advanced 2.29%. The Nifty Auto index climbed 1.86%. Energy, oil & gas, pharma, and media sectors also posted gains, whereas the Nifty IT index was the only sector to close lower, slipping 0.59%.
Nifty Outlook
Index formed a bullish candlestick pattern with shadows in either direction signaling pullback from an oversold territory after recent sharp decline. Nifty in the last two sessions has rebounded after testing the August 2025 low (24337). Volatility is likely to remain elevated amid uncertain global cues and escalating geo-political tension.
Index holding above Wednesday panic low of around 24,300 is likely to extend pullback towards 25,100-25,200 in the coming sessions. Overall we expect consolidation in the range of 24,300-25,200. A follow through weakness below Wednesday low (24305) can led to test of the support area of 24,200-24,000 being the value of the trendline joining the major lows of CY23 and CY25.
Bank Nifty Outlook
Index formed a high wave candle with a small real body and shadows in either direction signaling consolidation with high volatility after the recent sharp decline. Volatility is likely to remain elevated amid uncertain global cues and escalating geo-political tension.
Index likely to consolidate in the range of 58,000-60,000 in the coming sessions. A breakout or a breakdown will signal next directional movement. A breakdown below 58,000 on account of escalating geo-political tension will open further downside towards 57,200 levels in the coming week.
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