BSE 250 SMALLCAP

Indian equity benchmarks, the BSE Sensex and Nifty 50, are likely to open on a negative note on March 30, tracking weakness in GIFT Nifty, which was trading lower around the 22,515 level.

Track the latest updates on GIFT Nifty right here on Moneycontrol.

The bears returned to Dalal Street on Friday (March 27), dragging the Indian benchmark indices 2 percent lower amid broad-based selling across sectors, continued depreciation of the rupee, and lingering uncertainty over the de-escalation of the US–Iran conflict.

At close, the Sensex was down 1,690.23 points or 2.25 percent at 73,583.22, and the Nifty was down 486.85 points or 2.09 percent at 22,819.60.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Slips)

GIFT Nifty was trading lower near the 22,515 mark, signaling a weak opening for Indian equity indices.

Asian Equities (Down)

Stock markets slumped in Asia on Monday as investors dug in for a protracted Gulf conflict that already has oil prices heading for a record monthly rise, bringing a spike in inflation and the risk of recession to much of the globe.



US Equities (Down)

US stocks tumbled on Friday, with each of the three major ​U.S. indexes closing at their lowest levels in over seven months and the Dow confirming it was in correction territory as the month-long ‌Middle East war continued to suppress risk appetite.

The Dow Jones Industrial Average fell 793.47 points, or 1.73%, to 45,166.64, the S&amp;amp;P ​500 lost 108.31 points, or 1.67%, to 6,368.85 and the Nasdaq Composite lost 459.72 points, or 2.15%, to 20,948.36.



Dollar Index (Gains)

The U.S. dollar held broadly steady on Monday, poised for its strongest monthly gain since July as investors fret about the ramification of a long war in the Middle East, denting the yen past the crucial 160 level and spurring intervention jitters.



US Bond Yield (Down)

Yields on the 10-year U.S. Treasury and 2-year U.S. Treasury down 2 basis points and 3 basis points to 4.4% and 3.87%, respectively.

Ten-year U.S. Treasury yields were up roughly 47 basis points for the month so far, while two-year yields have climbed 54 basis points.



Asian Currencies (Down)

Among Asian currencies, except China Renminbi and Japanese Yen, all other currencies were trading lower with Indonesian Rupiah leading the losers followed by Philippines Peso, Thai Baht, Taiwan Dollar.



Crude (Surges)

Brent crude rose 3.0% to $115.98 a barrel, bringing its gains for the month to 60% and topping the jump that followed Iraq's invasion of Kuwait in 1990. U.S. crude climbed 3.0% to $102.52, making a monthly rise of 53%.



Gold (Down)

Gold declined, erasing its first weekly gain since the war in the Middle East began, as the Iran-backed Houthi militant group joined the conflict and more US military personnel moved into the region.



Fund Flow Action

The Foreign Institutional Investors (FIIs) continued their selling on March 27, as they sold equities worth ₹4,367 crore, while Domestic Institutional Investors (DIIs) bought equities worth ₹3,566 crore.



Hope you're all set for today's trade. We wish you a profitable day ahead.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

First Tick: Top global cues to watch in today’s trade

Sensex Today | Stock Market LIVE Updates: US stocks tumbled on Friday, with each of the three major ​U.S. indexes closing at their lowest levels in over seven months and the Dow confirming it was in correction territory as the month-long ‌Middle East war continued to suppress risk appetite.

Sensex Today | Stock Market Live: GIFT Nifty suggests a weak start; US, Asian markets fall

Nifty valuations remain expensive despite correction, Continue to expect only single-digit returns in FY2027, Second-order impact yet to be felt on economy and earnings

* Nifty valuations remain expensive despite correction
* Continue to expect only single-digit returns in FY2027
* Second-order impact yet to be felt on economy and earnings

shorts/business/1-billion-a-day-war-bill-why-markets-not-politics-may-decide-when-the-conflict-ends

Jitendra Gohil, the CIO - Listed Equities at Bajaj Alts believes market forces may ultimately force de-escalation, particularly as US and Japanese yields have begun to rise.

Given the fragile state of the US fiscal position, a prolonged war may not be financially sustainable, he said in an interview to Moneycontrol.

According to him, a sharp rise in the 10-year US Treasury yield above 5–6 percent or a 20 percent correction in US equities could push the US towards ending the conflict.

After this correction, travel and tourism related sectors, including hotels and airlines, can be bought on dips, he advised as he remains structurally bullish on these names.

Do you expect oil prices to remain elevated in April as well?

Most likely the peak of oil price spike is behind us; however, prices could remain elevated for a few more months. Our expectation is that Brent crude will trade in the US$95–110 a barrel range in April, followed by a gradual decline over the subsequent months.

News reports suggest Iran may allow friendly countries to pass through the Strait of Hormuz. US has eased sanctions on Russian oil and the IEA has already announced the release of 400 million barrels from oil reserves in mid-March. Additionally, spike in oil prices could lead to some demand destruction, in our view.

That said, the issue extends beyond crude oil supply alone. Refining capacities that have been damaged from central Asia to Russia, coupled with surging freight &amp;amp; insurance costs and natural gas supply dislocation can have significant impact on the economy and markets for longer than previously expected.

Are you hopeful of a ceasefire in West Asia in the near term?

Globally, multilateralism is failing with vacuum in leadership, while the US exerts unchecked and unprecedented power. This is fundamentally about the economics of war.

We believe market forces may ultimately force de-escalation, particularly as US and Japanese yields have begun to rise. Given the fragile state of the US fiscal position, a prolonged war may not be financially sustainable.

In our view, a sharp rise in the 10-year yield above 5–6 percent or a 20 percent correction in US equities could push the US towards ending the conflict.

The US is currently spending about US$1 billion per day and may have spent $25–30+ billion by the end of March. The Trump administration is seeking US$200 billion in additional war funding from Congress, despite this not being a full-scale invasion. For context, Operation Desert Storm in 1991 cost roughly US$150 billion in today’s terms and lasted 40 days.

History shows that military superpowers can drag on these wars for decades, as seen in Vietnam and Afghanistan which lasted two decades each with trillions of dollars in spending. The Russia–Ukraine war is now in its fifth year, and Israel’s war on Gaza, which began in October 2023, has now expanded to Lebanon.

Do you believe the market is currently reasonably valued? Do you still see the potential for 10–15 percent returns in FY27?

While the Nifty trades at around 17x 12-month forward EPS, the risk of EPS downgrades has increased; hence, valuations remain expensive despite the correction, in our view.

Historically, the Indian market has been among the most expensive globally, closer to US multiples. However, Indian equities now trade at lower valuation premium than the US, Taiwan and Japan largely due to the lack of AI representation in Indian indices. This has raised concerns about a potential structural derating unless corporates meaningfully increase spending on innovation and R&amp;amp;D.

We continue to expect only single-digit returns in FY2027. In the absence of major reforms—unlikely given limited fiscal and monetary headroom—the year could turn out to be a damp squib.

Have you observed some long-term bears turning bullish on India?

At the beginning of the year, some of the bears were turning bullish on India, expecting global flows rotation into it, but the war, oil prices, and INR depreciation have crushed that expectation.

To remain structurally bullish on India, one needs to see big reforms such as a big privatization and asset monetization drive, which still remains elusive.

Do you think major oil-importing nations, including India, will increasingly focus on building strategic oil reserves?

Yes, that's the priority. Creating strategic reserves has a cost, but given the hostile global environment, countries will have to work towards diversification and energy security.

Do you believe the market now views AI as a potential risk?

The growth of AI has changed market dynamics completely in favour of US companies, and the financial market is showing significant polarization in favour of US and its allies. This is a bigger risk as the kind of valuations some of the companies are commanding shows signs of a bubble, and as I mentioned earlier, if US yields start to spike, there could be recession risk brewing as capex commitments of these top AI companies for 2026 are closer to US$600-700 billion.

Do you think the impact of the West Asia crisis will be more pronounced in Q1FY27 and limited in Q4FY26?

The second-order impact is yet to be felt on the economy and earnings. Q4 management commentary will be crucial to monitor, with Q1 seeing further earnings cuts, in our view.

What are your top sectoral bets for FY27?

Tactically, we have turned overweight on pharma, metals, and IT in our model portfolios. The power and port sectors look structurally attractive, where one can buy on dips.

The banking sector valuation is attractive and is factoring in slowdown in growth, in our view. We are a little sceptical about NBFCs and interest rate sensitive sectors such as real estate.

After this correction, travel and tourism related sectors, including hotels and airlines, can be bought on dips, in our view, as we remain structurally bullish on these names.

Auto and consumer discretionary stocks can benefit from the implementation of the 8th Pay Commission, but higher inflation can dampen demand; hence, we remain neutral for now, with only selective buying.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

$1 billion a day war bill: Why markets, not politics, may decide when the conflict ends

Market to remain in control of bears next week with focussing on West Asia war, oil prices, FIIs mood and Indian rupee, Focus also on monthly auto sales data, economic releases from US, and manufacturing & services PMI numbers, Expiry of March Futures & Options contracts on Monday likely to keep volatility elevated

* Market to remain in control of bears next week with focussing on West Asia war, oil prices, FIIs mood and Indian rupee
* Focus also on monthly auto sales data, economic releases from US, and manufacturing & services PMI numbers
* Expiry of March Futures & Options contracts on Monday likely to keep volatility elevated

shorts/business/dalal-street-week-ahead-west-asia-crisis-oil-prices-fii-flow-rupee-auto-sales-among-10-key-factors-to-watch

Bears persistently tightened their grip over the Dalal Street and West Asia war situation sending a strong signal that they are not easily giving up the control to bulls, driving the benchmark indices down 1.3 percent for the week ended March 27, over 9 percent in current month and 13.5 percent from record high in January 2026.

Geopolitical tensions in West Asia and uncertainty around the Strait of Hormuz dominated global sentiment and increased risk-off mood. The sharp selloff stemmed from concerns over potential oil supply disruptions, a record low rupee, elevated global bond yields, and sustained FII outflows.

Overall, the market oscillated between risk-off pressure and relief-led rebounds, with geopolitical uncertainty acting as the primary anchor on sentiment. In the truncated week starting from March 30, the market is expected to remain in control of bears with majorly focussing on West Asia war, oil prices, FIIs mood and Indian rupee movement against the US dollar. Given the intensity of war factor, monthly auto sales data, economic releases from US, and manufacturing &amp; services PMI numbers due week ahead may not be the driving factors, however, in between, any strong signal about end of war is the only point that can reverse the market direction, according to experts.

Further, the focus will also be on the scheduled monthly expiry of March Futures &amp; Options contracts on Monday which is likely to keep volatility elevated.

The Nifty 50 plunged 295 points (1.28 percent) to 22,820, and the BSE Sensex tumbled 950 points (1.27 percent) to 73,583, while the Nifty Midcap and Smallcap 100 indices fell 1.4 percent and 0.63 percent, respectively.

"In the near term, market direction will hinge on developments in West Asia peace efforts and the extent of earnings risks from supply-side disruptions," Vinod Nair, Head of Research at Geojit Investments said.

According to him, FIIs are expected to stay selective as India remains relatively expensive versus other emerging markets, though the valuation premium has moderated toward long-term averages and could stabilise flows gradually.

Volatility may persist as global risk appetite fluctuates, but further dips could improve entry opportunities for long-term investors when external uncertainties begin to normalise as valuation gaps narrow, he said.

Siddarth Bhamre, Head – Institutional Research at Asit C Mehta Investment Intermediates told Moneycontrol that no resolution to war can lead to earnings downgrade which eventually will remove the cushion on valuations which was created due to fall in stock prices.

He sees impact of this conflict on Q4FY26 earnings in selected spaces, however continuation of conflict or uneasiness in the region would certainly force analyst community to revise Q1FY27 earnings lower. If conflicts prolongs then the shape of economy may not allow covering of lost time in the subsequent quarters, he said.

The market will remain shut on March 31 for Shri Mahavir Jayanti, and April 3 for Good Friday.

Here are 10 key factors to watch next week:

US-Iran War and Oil Prices

The geopolitical tensions in the Middle East between US-Israel and Iran will be the critical factor to watch by all asset classes and countries as experts are worried about the oil supply chain situation and its impact on global growth and earnings going ahead. The 3,000-4,000 people including soldiers already died in the ongoing Iran war while lakhs of people already shifted from their regions due to fear and trading of strikes.

According to media reports, Donald Trump delayed action against Iran’s energy infrastructure till April 6 with US setting out 15-point Iran peace plan via Pakistan, pushing for stronger engagement, while Tehran rejected US ceasefire plan and offered five conditions for ending war (including complete end of aggression and assassinations from US and Israel, and compensation for losses and damages caused by war). The focus is majorly on opening of Strait of Hormuz, a critical global maritime choke point through which 20 percent of global oil supply passes.

However, the conflict is expected to deepen further in coming days as recent Reuters reports indicated that with the Islamic Revolutionary Guard Corps (IRGC) already threatening potential nuclear action, Hardline factions claim that one million fighters are ready to respond to any American ground invasion, while CNBC reports suggested that the US Central Command confirmed the 31st Marine Expeditionary Unit, made up of roughly 3,500 Sailors and Marines, arrived in the Middle East along with transport and strike fighter aircraft, as well as amphibious assault assets on Saturday. Further, Iran-backed Houthis also joined the war launching the barrage of missiles against Israel.

As a result, the oil prices remained and are expected to be at elevated zone with Brent crude oil largely trading above $100 a barrel now, rising sharply from $60 a barrel level in the beginning of January 2026, while the actual price of delivery is much more than that though it varies. The Brent–WTI spread, now well more than $10 per barrel against a historical norm of low single digits, reflects the intensity of Asian refiner demand for Atlantic basin crude and the structural premium attached to seaborne barrels in a disrupted supply environment.

Meanwhile, the US Dollar closed above the 100 mark for the second time in three weeks, reaffirming its role as the safe-haven currency of choice, while global equity markets remained under pressure throughout this month amid fear of growth if war extends to April. Further, persistently elevated crude oil prices have compelled markets to scale back their rate-cut expectations, even as the Federal Reserve maintains its guidance of modest easing through 2026.

On the fixed income front, the US 10-year treasury note yield rose 1 percent in the week to 4.428 percent, extending rally for fourth consecutive week from 3.926 percent, while India’s 10-year government bond yield surged to 6.932 percent (the highest since July 2024), up 2.89 percent during the week.

Global Economic Data

Apart from focus on the West Asia crisis and oil price volatility that raised global growth concerns, the market participants globally will also keep an eye on the speech from Federal Reserve Chair Jerome Powell on March 30 and economic releases from United States including labour market indicators, retail sales data, and manufacturing &amp; services PMI numbers. However, in the prevailing environment spoiled by US-Israel and Iran tensions, their (economic releases) impact appears muted.

<img src="https://images.moneycontrol.com/static-mcnews/2026/03/20260329154035_Image628032026.jpg" alt="Image628032026" width="1047" height="681" class="alignnone size-full wp-image-13873765 aligncenter" />

Domestic Economic Data

Back home, the market participants will focus on the industrial production numbers for the month of February due on March 30, followed by fiscal deficit data for April-February period of FY26 and external debt for Q4CY25 scheduled on March 31. According to economists, industrial production is expected to be slightly lower compared to 4.8 percent growth in previous month, while fiscal deficit is likely to inch higher for the April-February period from Rs 9.81 lakh crore in April-January period.

Further, final HSBC Manufacturing PMI figures for March will be released on April 2. As per preliminary estimates, the PMI dropped to 53.8 in March from 56.9 in February as slowing demand and Middle East tensions impacted output growth.

This follows bank loan and deposit growth for fortnight ended March 20, and foreign exchange reserves for week ended March 27. After hitting record high in the last week of February, forex reserves have consistently been declining since the start of current month, coming in at $698.35 billion for week ended March 20 down from $709.76 billion in previous week, impacted by central bank intervention to support the weakening rupee, FII outflow and higher import cost for oil prices.

<a href="https://www.moneycontrol.com/markets/fii-dii-data/cash/" target="_blank">FII Flow and Rupee</a>

Hence, the focus will also be on FII flow and the rupee action, which both are under pressure due to rising Middle East tensions. Foreign Institutional Investors (FIIs) were net sellers throughout the month in March, tracking weakness in global markets amid Middle East crisis, more than 4 percent depreciation, elevated oil prices in the international markets and its likely impact on corporate earnings, and fears of decline in remittances from the Gulf region.

FIIs net offloaded around Rs 24,600 crore worth shares in recent week and more than Rs 1.11 lakh crore shares in current month, signalling risk-off sentiment in equity markets, however, Domestic Institutional Investors (DIIs) continued to provide support to the equity markets as they compensated FII outflow by picking up over Rs 1.28 lakh crore worth shares in March, as per provisional figures.

It is important to understand that FPIs were sellers in other emerging markets, too, like Taiwan and South Korea. If FIIs sustained selling strategy is to change, there should be an end to the hostilities in West Asia and decline in crude prices, said VK Vijayakumar, Chief Investment Strategist at Geojit Investments.

Meanwhile, the Indian rupee hit a record low of 94.96 against the US dollar on Friday, falling 0.54 percent during the day to 94.76. The currency weakened by 1.18 percent during the week, and 4.1 percent in March - the biggest monthly depreciation since August 2019 - fueled by energy supply fears from the Middle East conflict.

"As long as energy flows remain constrained, inventories continue to deplete and oil and gas prices are likely to stay firm, keeping pressure on the rupee," Anindya Banerjee, Head of Commodity and Currency Research at Kotak Securities said. "If crude remains elevated, we may see further reflexive weakness through speculative shorting, especially via the NDF market, along with importer panic buying and some hesitation from exporters."

But if the situation in West Asia worsens further into April, USD/INR could move higher still, with 96.50 to 97 coming into view, he said.

Auto Sales

The participants will also keep an eye on the auto sales data scheduled to be released in initial days of April next week. Hence, auto stocks including Tata Motors, Maruti Suzuki, Hyundai Motor India, Mahindra and Mahindra, TVS Motor, Bajaj Auto, Eicher Motors, and Hero MotoCorp will be in focus.

Channel checks indicated that the demand across segments in March remained healthy supported by festive tailwinds, and favourable base but gradually caution due to external factors may be creeping into buyer behaviour who started shifting focus to cash savings in case of any uncertainty.

Yes Securities expects double-digit growth in two-wheeler, passenger vehicle, and commercial vehicle sales volumes but tractors volumes may grow mid-single digit as untimely rains dented sentiments.

<a href="https://www.moneycontrol.com/ipo/" target="_blank">IPO</a>

Meanwhile, the worsening momentum in equity markets seem to be reflecting in primary market as there will be no new IPO in the mainboard segment though only one in the SME segment next week. Safety Controls &amp; Devices, the only SME public issue, will open on April 6 with the aim to raise Rs 48 crore.

Vivid Electromech will close its Rs 130.5-crore initial public offering (IPO) on March 30, while Emiac Technologies offer will remain open till April 8.

On the listing front, Central Mine Planning &amp; Design Institute will make its market debut on March 30, while Powerica, Sai Parenteral's, and Amir Chand Jagdish Kumar (Exports) shares will be available for trading on the bourses effective April 2, while in the SME segment, the trading in Speciality Medicines, Tipco Engineering India, and Highness Microelectronics shares will commence on March 30, April 1, and April 2, respectively.

Technical View

Technically, the entire set-up is in favour of bears with the continuation of lower high-lower low formation and the index trading well below all key moving averages with 20-week EMA falling below 50-week EMA for the first time since July 2022. The index formed doji-like candlestick patterns in the past two weeks with consistent pressure at higher levels. The latest week's low of 22,471 is expected to be at risk in the coming week as below it, 22,300 is the crucial level to watch (the trendline support adjoining lows of June 2024 and April 2025). Decisively breaking trendline support can drive the index down toward 21,900 and 21,700, however, the 23,000-23,200 can be immediate resistance levels, followed by 23,500 being crucial hurdle.

F&amp;O Cues

The weekly options data indicated that the Nifty 50 is expected to be in the 22,500-23,200 range in the short term while the broader range may be 22,000-23,500.

The 23,000 strike holds the maximum Call open interest, followed by the 23,500 and 23,200 strikes, while the maximum Put open interest was observed at the 22,000 strike, followed by the 23,000 and 22,500 strikes.

The maximum Call writing was seen at the 23,000, 23,500 and 23,200 strikes, while the 22,000, 22,200 and 22,850 strikes hold the maximum Put writing.

India VIX

Meanwhile, the India VIX remained in an elevated zone and ended at a more than four-year high, rising 17.49 percent during the week to 26.8. The fear index continued its upward journey for the fourth consecutive week, signalling major risk for bulls. Until it starts consistently moving southward, bulls are expected to remain in an uncomfortable zone, and uncertainty in the equity markets may prevail.

Corporate Action

Here are key corporate actions in the coming week:

<img src="https://images.moneycontrol.com/static-mcnews/2026/03/20260329154336_Image528032026.jpg" alt="Image528032026" width="1108" height="381" class="alignnone size-full wp-image-13873766 aligncenter" />

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Dalal Street Week Ahead: West Asia crisis, oil prices, FII flow, rupee, auto sales among 10 key factors to watch

See potential investment opportunities in gas distribution, infrastructure sectors post correction, Expect downward revision for FY27 earnings estimates, See impact of Iran conflict on Q4FY26 earnings in selected spaces

* See potential investment opportunities in gas distribution, infrastructure sectors post correction
* Expect downward revision for FY27 earnings estimates
* See impact of Iran conflict on Q4FY26 earnings in selected spaces

shorts/business/daily-voice-avoid-bottom-fishing-at-the-index-level-deploy-cash-selectively-in-these-two-sectors-says-siddarth-bhamre

“Avoid bottom-fishing at the index level, but one can selectively deploy a portion of available cash into specific stocks,” said Siddarth Bhamre, Head – Institutional Research at Asit C Mehta Investment Intermediates, in an interview with Moneycontrol.

According to him, segments such as gas distribution companies and infrastructure have seen sharp corrections due to the ongoing conflict, making them potential investment opportunities.

He added that once the conflict is resolved—and it is likely to be resolved sooner or later—these sectors could return to their earlier revenue levels within a relatively short time frame.

Do you believe the West Asia conflict will extend into April?

Tension between US and Iran are not new. In the past, negotiations to sign JCPOA, an agreement where Iran would limit its uranium enrichment program took 20 months. So, expecting this conflict/war to de-escalate and normalcy to return soon would lead to disappointment.

What could be the potential impact if the Strait of Hormuz crisis continues into April?

Though the substantial part of oil supplies come from this route, countries like India now has many other sources which would fulfil the required demand. However, procuring from these sources may not be an optimal way, which would lead to higher timeframe in which crude oil prices will remain at elevated levels.

Even, if war-time activity reduces and parties involved in this conflict assure smooth passing of tankers, there will be risk premium attached to these movements, and we may not see non-conflict level of traffic anytime soon. Elevated oil prices without increase in demand is not a good situation for any country or any sector.

Do you rule out a major downward revision in FY27 earnings estimates due to the Iran conflict?

No. There will be downward revision for FY27 earnings estimates. The extent of downward revision will depend on how soon oil prices find their way back to sub $75 per barrel. The impact of prolonged rationing to energy sources to the industrial segment would lead to overall reduction in manufacturing and consumption space which eventually would impact services as well with a lag effect.

We may see impact of this conflict on Q4FY26 earnings in selected spaces, however continuation of conflict or uneasiness in the region would certainly force analyst community to revise Q1FY27 earnings lower. If conflicts prolongs then the shape of economy may not allow covering of lost time in the subsequent quarters.

Are market valuations significantly more attractive now compared to six months ago?

Answer to this also lies in the duration of conflict. If this war ends soon and global oil supplies return to normalcy then yes of course recent correction has made valuation relatively attractive then what they were in the beginning to this year.

However, no resolution can lead to earnings downgrade which eventually will remove the cushion on valuations which was created due to fall in stock prices.

Have you started bottom-fishing in the market, especially after the significant correction in recent weeks?

Not on the index level but stock specific one can dip the portion of ideal cash if any into the markets. There are spaces like gas distribution companies, infrastructure to name few, which have shown sharp correction due to this war.

However, once this conflict resolves and it will resolve sooner or later, these spaces would reach back to their earlier revenue levels in a small-time frame. Though the risk of continued escalation remains and hence portion of allocation.

What are the key challenges for the market in FY27, apart from the West Asia conflict?

There were few challenges to this market before the war started. The disruption which maybe caused to IT and other sectors with increased adoption of AI, inadequate capital expenditure from private sector, moderating consumption levels, FIIs outflows, depreciating rupee were few concerns which market was dealing and navigating with.

Though, the West Asia conflict is ruling the roster of any round table discussion, the conflict will only aggravate these challenges.

Do you think the Reserve Bank of India is likely to keep interest rates unchanged for the remainder of 2026?

When inflation and growth are affected by supply side constraints there is very little impact of change in interest rates on the economic situation. The estimated rise in inflation and decline in GDP growth rate due to oil shock will not materially change by any of the RBI’s action.

Also, we are still in first quarter of CY2026 and with such uncertain and volatile environment I guess even RBI would find it difficult to gauge its own next move.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Daily Voice: Avoid bottom fishing at the index level; deploy cash selectively in these two sectors, says Siddarth Bhamre

5 out of 9 years BSE 250 SMALLCAP has given positive returns in March.

Type	R1	R2	R3	PP	S1	S2	S3
Classic	5,850.85	5,906.02	5,941.18	5,815.69	5,760.52	5,725.36	5,670.19
Fibonacci	5,850.20	5,871.52	5,906.02	5,815.69	5,781.19	5,759.87	5,725.36
Camarilla	5,803.95	5,812.23	5,820.51	5,815.69	5,787.39	5,779.11	5,770.83

INDEX CONTRIBUTION - BSE 250 SMALLCAP

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