BSE Commodities

Sensex and Nifty fell over 2 percent amid broad market sell-off, Rupee hit a record low of 94.84 per dollar during intraday trade, All indices fell; PSU banks, realty led the slide

* Sensex and Nifty fell over 2 percent amid broad market sell-off
* Rupee hit a record low of 94.84 per dollar during intraday trade
* All indices fell; PSU banks, realty led the slide

Indian markets fell sharply on March 27, with Sensex down 1,690 points and Nifty dropping 487 amid broad selling, rupee hitting a record low, and US–Iran tensions. All sectors declined, PSU banks and realty led losses, over 900 stocks hit 52-week lows.

shorts/business/taking-stock-bears-drag-nifty-below-22-850-sensex-tanks-1-690-pts-rupee-weakens-to-record-low

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.

Amid weak global cues, the market opened on a negative note, with the Nifty50 starting lower at 23,173.55. Selling pressure intensified as the session progressed, pulling the index down to an intraday low of 22,804.55 before it closed near the day’s low.

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.

Broader markets mirrored the weakness, with the Nifty Midcap index dropping 2.2% and the Smallcap index declining 1.7%.

For the week, both the BSE Sensex and Nifty50 ended 1.2% lower.

Also Read - Goldman Sachs cuts Nifty target by 14%, sees more downside for India equities

The market capitalisation of BSE-listed companies fell Rs 8.97 lakh crore to Rs 422.04 lakh crore against Wednesday's Rs 431.01 lakh crore.

The Indian rupee extended its losses for a second straight session, breaching the 94-per-dollar mark for the first time. It hit a fresh record low of 94.84 during intraday trade before settling at 94.81, down 83 paise from Wednesday’s close of 93.98.

Also Read - FX buffers a concern as Street splits on India’s vulnerability amid oil surge

All sectoral indices closed in the red, led by sharp losses in PSU banks and realty, which declined more than 3% each. Auto, consumer durables, capital goods, and private banks fell 2% each.

Among Nifty constituents, top losers included Shriram Finance, Tata Motors Passenger Vehicles, InterGlobe Aviation, Reliance Industries, and Bajaj Finance, while ONGC, TCS, Wipro, Bharti Airtel, and Coal India were among the few gainers.

Also Read - Govt cuts excise duty on petrol, diesel but pump prices might not come down: Here's why

More than 900 stocks touched their 52-week low, including Sterling Wilson, Network 18, Aegis Vopak, Sapphire Foods, TMPV, IDBI Bank, Lodha Developer, Concord Biotech, GSFC, Amara Raja, Bajaj Housing, Sonata, Zensar Tech, Gillette India, Hindustan Aeron, Gujarat Gas, IGL, among others. Click to View More

Also Read - BSE SmallCap 250 set for longest quarterly losing streak since December 2011

Outlook for March 30

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities

After witnessing a sustainable bounce back in the last couple of sessions, Nifty witnessed a sharp fall on Friday has and closed the day lower by 486 points. After opening on a weak note, the market continued to slide down for better part of the sessions. There was no indication of any meaningful recovery in the middle part and Nifty finally closed near the lows.

A long bear candle was formed on the daily chart which indicates sharp reversal down in the Nifty after a pullback. This market action signals a formation of new lower top reversal pattern at 23465 on the daily timeframe chart. This is in line with the ongoing bearish pattern like lower tops and bottoms of the last one month.

The underlying trend of Nifty has turned down sharply after a recent pullback rally. One may expect further weakness down to 22450 levels and lower in the coming week. Positional support is placed at 22000. Immediate resistance is placed at 23200.

Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities

Nifty opened with a gap down and remained under pressure throughout the session, eventually closing at 22,820, down 2.09%.

A combination of macro headwinds weighed heavily on market sentiment, including a pullback in crude oil prices, the rupee hitting a record high, a spike in US and Japanese 10-year bond yields, and a rise in VIX. Ongoing geopolitical tensions in West Asia further added to the cautious undertone.

After failing to surpass the 23,350–23,400 resistance zone on Wednesday, Nifty witnessed renewed selling pressure, resulting in a lower close. Notably, since early February, every pullback has been sold into at higher levels, reinforcing the prevailing bearish trend. On the technical front, RSI has slipped after briefly crossing the 40 mark, indicating that momentum is still on the bearish side. Meanwhile, the MACD continues to trade well below both the zero line and the signal line, further strengthening the bearish bias.

Going ahead, the immediate support for Nifty is placed in the 22650-22600 zone. Any sustainable move below this zone could result in Nifty extending its weakness towards 22400, followed by 22200 in the short term. On the upside, the zone of 23150–23200 zone is likely to act as a strong resistance.

Disclaimer: The views and investment tips expressed by 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.

Taking Stock: Bears drag Nifty below 22,850; Sensex tanks 1,690 pts; rupee weakens to record low

Live: Nifty extends losing streak to 5th week; rupee hits new low | Closing Bell

War uncertainty looms, can Nifty defend 23,000? Oil above $105/bbl | Opening Bell

Sensex and Nifty likely to open lower on March 27., Global equities fell amid US-Iran tensions and rising oil prices., Gold prices rose while crude declined after Trump paused attacks.

* Sensex and Nifty likely to open lower on March 27.
* Global equities fell amid US-Iran tensions and rising oil prices.
* Gold prices rose while crude declined after Trump paused attacks.

Indian equity benchmarks are expected to open lower on March 27, tracking losses in GIFT Nifty and global markets. Asian and US equities fell amid war fears, oil declined, gold rose, and most Asian currencies slipped. FIIs sold, while DIIs bought equities.

shorts/business/first-tick-top-global-cues-to-watch-in-today-s-trade-124

Indian equity benchmarks, the BSE Sensex and Nifty 50, are likely to open on a negative note on March 27, tracking losses in GIFT Nifty, which was trading lower at 23,051.50.

Track the latest updates on GIFT Nifty right here on Moneycontrol.

Indian equity indices extended their relief rally for the second consecutive session on March 25, with the Nifty closing above the 23,300 mark, supported by broad-based buying across sectors and in the broader markets.

At close, the Sensex was up 1,205 points or 1.63 percent at 75,273.45, and the Nifty was up 394.05 points or 1.72 percent at 23,306.45.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Down)

GIFT Nifty was trading lower at around 23,051.50, signaling a weak opening for Indian equity indices.

Asian Equities (Fall)

A selloff on Wall Street extended to Asia as traders stayed cautious even after President Donald Trump again delayed his deadline for Iran to reach a deal. Asian shares fell over 1% after both US benchmarks slid to the lowest level since September on Thursday.



US Equities (Slip)

The Nasdaq tumbled more than 2% to confirm a correction on Thursday while the S&amp;amp;P 500 and the Dow fell more than 1%. Investors scrambled for safety on ​fears of escalation in the U.S.-Israeli war against Iran, which has sent oil prices soaring and exacerbated inflation concerns.

Thursday marked the biggest one-day decline for the Nasdaq ‌and the S&amp;amp;P 500 since January 20.

The Dow Jones Industrial Average fell 469.38 points, or 1.01%, to 45,960.11, the S&amp;amp;P 500 lost 114.74 points, or 1.74%, to 6,477.16 and the Nasdaq Composite shed 521.74 points, or 2.38%, to 21,408.08.



Dollar Index (Up)

The dollar advanced after President Donald Trump cast doubt on whether the US could reach a ceasefire deal with Iran.



US Bond Yield (Down)

Yields on the 10-year U.S. Treasury and 2-year U.S. Treasury fell by nearly 1 basis point each to 4.4% and 3.96%, respectively.



Asian Currencies (Slip)

Except the Indonesian Rupiah and Japanese Yen, most Asian currencies were trading lower, with the Philippine Peso leading the losses, followed by the Malaysian Ringgit, South Korean Won, New Taiwan Dollar, and the Chinese Renminbi.



Crude (Declines)

Oil prices fell in early trade on Friday and were down over a volatile week after U.S. President Donald Trump said talks with Iran to end the war were going &quot;very well&quot; and announced he would pause attacks on the country's energy plants for 10 days.



Gold (Up)

Gold recovered some losses after US President Donald Trump again pushed back his deadline for
securing a deal with Iran to end the war in the Middle East.



Fund Flow Action

On March 25, Foreign Institutional Investors (FIIs) sold equities worth ₹1,805 crore, while Domestic Institutional Investors (DIIs) bought equities worth ₹5,429 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

West Asia war to hit not just Q1 FY27 earnings but likely next 2–3 quarters as well, Don't see a classic “crash” or a full-blown panic playing out at index level, Market may be broadly sideways in 2026 with a lot of rotation below the surface

* West Asia war to hit not just Q1 FY27 earnings but likely next 2–3 quarters as well
* Don't see a classic “crash” or a full-blown panic playing out at index level
* Market may be broadly sideways in 2026 with a lot of rotation below the surface

shorts/business/west-asia-war-to-hit-india-inc-earnings-beyond-q1-fy27-2026-may-stay-a-sideways-market-robin-arya

According to Robin Arya, the smallcase Manager and Founder and CEO of GoalFi, the West Asia war will have implications not just in Q1 FY27 earnings but likely for the next 2–3 quarters as well.

Such macroeconomic disruptions, which are still not fully resolved, leave deep scars on global economies, especially on countries like India where several sectors face direct margin pressure from higher crude prices, he said in an interview to Moneycontrol.

However, with continuous absorption from DIIs and domestic flows, he does not see a classic “crash” or a full-blown panic playing out at the index level. &quot;We may spend most of 2026 in a broadly sideways market with a lot of rotation below the surface,&quot; he said.

Is the impact of the West Asia war likely to be reflected in Q1 FY27?

Absolutely. The West Asia war will have implications not just in Q1 FY27 but likely for the next 2–3 quarters as well. Such macroeconomic disruptions, which are still not fully resolved, leave deep scars on global economies, especially on countries like India where several sectors face direct margin pressure from higher crude prices.

So, sectors that are energy intensive, import dependent or highly leveraged could see margin and earnings pressure show up in Q1 FY27 and beyond.

Do you see signs of de-escalation and a possible reopening of the Strait of Hormuz, considering recent statements from countries directly and indirectly involved?

There are certainly more diplomatic statements now about avoiding further escalation, from both countries directly involved and those influencing the region. However, these have not yet translated into a clear, durable security framework on the ground.

Wars like this can drag on because we do not always know the true underlying intent, and even after ceasefire or “pause” announcements, we continue to see sporadic flare ups and negative news flow. So, while the rhetoric is incrementally positive, I would still be cautious about assuming a smooth or immediate reopening of the Strait of Hormuz.

Do you think a full-blown panic phase has not yet been seen in the market, even though benchmark indices had corrected 15 percent from record highs before the recent recovery?

Indian markets today are very different and somewhat more mature than they were before the Covid-era, especially with the scale of retail participation we now have.

With continuous absorption from DIIs and domestic flows, I do not see a classic “crash” or a full-blown panic playing out at the index level. The downside on the index may be relatively capped, but that also means the upside could be limited, and we may spend most of 2026 in a broadly sideways market with a lot of rotation below the surface.

In April meeting, do you expect the RBI to raise its inflation forecast and lower growth estimates for the next couple of quarters as well as for the full financial year?

It would be reasonable to expect the RBI to nudge its inflation projections slightly higher and growth estimates a shade lower versus the February baseline. The central bank will likely want to acknowledge the upside risks from crude and geopolitics while still signalling comfort with the medium term growth narrative.

Has the bull run in gold prices come to an end?

Gold typically moves in multi-year cycles and then can go through long periods of consolidation where it does very little. In the current environment, I do not see a major downside in prices, but the upside is likely capped in the near term.

On a 1-year view, prices are still up significantly, which suggests that the broader structural bull phase, driven by real rate expectations, geopolitics and central bank buying, is not automatically over just because we have seen one sharp pullback.

Is the IT sector well-positioned to withstand war-related volatility? Can it be considered a strong contra bet?

For investors with a slightly longer horizon, I do see IT as a sensible allocation: not risk free, but offering a better risk-reward now. Some of the large Indian IT names are also actively moving into AI adoption, which can support medium term growth.

The sector may not command the same index weightage or premium it enjoyed historically, but as a bottom up story especially in product led or AI embracing companies it looks like a good contra bet.

Are valuations in the diagnostics sector becoming more reasonable now?

Diagnostics is a very attractive space in the Indian context, relatively agnostic to many global macro headwinds and largely driven by domestic demand.

The sector went through a classic post pandemic boom and cooling phase, with valuations compressing as Covid revenues disappeared and competition intensified, but underlying volume growth has stayed healthy, particularly in smaller cities and higher complexity tests. Here again, stock selection matters more than a broad sector call, but the structural tailwinds are clearly in place.

Are large FMCG companies still trading at elevated valuations with a limited margin of safety?

FMCG companies have evolved meaningfully in the post quick commerce environment. It is a “wait and watch” phase: valuations are roughly in line with their own historical averages, but we are now seeing single-digit growth in parts of the sector, which is a concern.

In my view, FMCG can no longer be treated as a straightforward defensive; investors need to be far more selective and mindful of growth versus valuation.

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.

West Asia war to hit India Inc earnings beyond Q1 FY27; 2026 may stay a sideways market: Robin Arya

8 out of 11 years BSE Commodities has given positive returns in March.

Type	R1	R2	R3	PP	S1	S2	S3
Classic	7,721.51	7,787.90	7,886.54	7,622.87	7,556.48	7,457.84	7,391.45
Fibonacci	7,685.91	7,724.86	7,787.90	7,622.87	7,559.83	7,520.88	7,457.84
Camarilla	7,670.26	7,685.39	7,700.51	7,622.87	7,640.00	7,624.87	7,609.75

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