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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

<img src="https://images.moneycontrol.com/static-mcnews/2026/03/20260328044456_Market_down1.jpeg" alt="Markets declined for the fifth consecutive week, marking their longest losing streak since August 2025, amid fading hopes of a near-term resolution to the US-Iran conflict, a sharp depreciation in the Indian rupee, persistent FII outflows and rising crude oil prices." width="1280" height="720" class="wp-image-13873083 size-full" /> Markets declined for the fifth consecutive week, marking their longest losing streak since August 2025, amid fading hopes of a near-term resolution to the US-Iran conflict, a sharp depreciation in the Indian rupee, persistent FII outflows and rising crude oil prices.</dd><dd class="wp-caption-dd">

<img src="https://images.moneycontrol.com/static-mcnews/2026/03/20260328044644_Nifty_sensex.jpg" alt="A,Black,Led,Board,With,Sensex,And,Nifty,In,Red" width="1280" height="720" class="wp-image-13873087 size-full" /> During the week, the BSE Sensex declined 949.74 points, or 1.27%, to close at 73,583.22, while the Nifty 50 fell 294.9 points, down 1.27%, to settle at 22,819.60.

<img src="https://images.moneycontrol.com/static-mcnews/2026/03/20260328045223_Nifty_sensex_marketup.jpg" alt="The BSE Midcap index slipped 1.3%, dragged down by stocks such as Gujarat Gas, Bharat Dynamics, New India Assurance Company, Escorts Kubota, Bajaj Housing Finance, Torrent Power, Godrej Industries, Cochin Shipyard, NTPC Green Energy, and 360 ONE WAM. However, gains in Gland Pharma, Oracle Financial Services Software, Coforge, LIC Housing Finance, Vishal Mega Mart, Persistent Systems, and Premier Energies provided some support to the index." width="1280" height="720" class="wp-image-13873093 size-full" /> The BSE Midcap index slipped 1.3%, dragged down by stocks such as Gujarat Gas, Bharat Dynamics, New India Assurance Company, Escorts Kubota, Bajaj Housing Finance, Torrent Power, Godrej Industries, Cochin Shipyard, NTPC Green Energy, and 360 ONE WAM. However, gains in Gland Pharma, Oracle Financial Services Software, Coforge, LIC Housing Finance, Vishal Mega Mart, Persistent Systems, and Premier Energies provided some support to the index.</dd><dd class="wp-caption-dd">

<img src="https://images.moneycontrol.com/static-mcnews/2026/03/20260328045257_sensex_stocks_nifty.jpg" alt="The BSE Smallcap index declined 1%, dragged down by stocks such as Embassy Developments, Brainbees Solutions, PTC Industries, Chennai Petroleum Corporation, RHI Magnesita India, Jaiprakash Power Ventures, Finolex Industries, Garden Reach Shipbuilders &amp; Engineers, Relaxo Footwears, Kirloskar Brothers, Bombay Burmah Trading Corporation, Finolex Cables, and EIH, which fell between 8% and 13%. On the other hand, gains in HEG, AFFLE 3I, Emcure Pharmaceuticals, Apar Industries, ACME Solar Holdings, Sammaan Capital, Five-Star Business Finance, and Brigade Enterprises, rising between 7% and 15%." width="1280" height="720" class="size-full wp-image-13873094" /> The BSE Smallcap index declined 1%, dragged down by stocks such as Embassy Developments, Brainbees Solutions, PTC Industries, Chennai Petroleum Corporation, RHI Magnesita India, Jaiprakash Power Ventures, Finolex Industries, Garden Reach Shipbuilders &amp; Engineers, Relaxo Footwears, Kirloskar Brothers, Bombay Burmah Trading Corporation, Finolex Cables, and EIH, which fell between 8% and 13%. On the other hand, gains in HEG, AFFLE 3I, Emcure Pharmaceuticals, Apar Industries, ACME Solar Holdings, Sammaan Capital, Five-Star Business Finance, and Brigade Enterprises, rising between 7% and 15%.

<img src="https://images.moneycontrol.com/static-mcnews/2026/03/20260328045405_stocks5.jpg" alt="Among sectors, barring IT (up 1%), all other sectoral indices ended in the red. The Nifty Defence and PSU Bank indices declined 4% each, while the Realty index fell 3.7%, the Consumer Durables index dropped 2.4%, and the Metal index shed 2%." width="1280" height="720" class="size-full wp-image-13873095" /> Among sectors, barring IT (up 1%), all other sectoral indices ended in the red. The Nifty Defence and PSU Bank indices declined 4% each, while the Realty index fell 3.7%, the Consumer Durables index dropped 2.4%, and the Metal index shed 2%.

<img src="https://images.moneycontrol.com/static-mcnews/2026/03/20260328045457_mutualfund.jpg" alt="During the week, Reliance Industries recorded a highest erosion in its market capitalisation, followed by HDFC Bank, State Bank of India, Bharat Electronics. On the other hand, Larsen &amp; Toubro, Bajaj Finance, HCL Technologies recorded gains in their market capitalisation. (Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the soles beneficiary.)" width="1280" height="720" class="wp-image-13873096 size-full" /> During the week, Reliance Industries recorded a highest erosion in its market capitalisation, followed by HDFC Bank, State Bank of India, Bharat Electronics. On the other hand, Larsen &amp; Toubro, Bajaj Finance, HCL Technologies recorded gains in their market capitalisation. (Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the soles beneficiary.)

<img src="https://images.moneycontrol.com/static-mcnews/2026/03/20260328045841_market1.jpg" alt="Foreign Institutional Investors (FIIs) remained persistent sellers in Indian equities for the sixth consecutive session, offloading shares worth ₹24,596.46 crore. In contrast, Domestic Institutional Investors (DIIs) continued their buying trend, purchasing equities worth ₹26,897.05 crore." width="1280" height="720" class="size-full wp-image-13873099" /> Foreign Institutional Investors (FIIs) remained persistent sellers in Indian equities for the sixth consecutive session, offloading shares worth ₹24,596.46 crore. In contrast, Domestic Institutional Investors (DIIs) continued their buying trend, purchasing equities worth ₹26,897.05 crore.

<img src="https://images.moneycontrol.com/static-mcnews/2026/03/20260328045921_rupee_fall.jpg" alt="The Indian rupee weakened further this week, extending its decline for the fourth consecutive week. It hit a fresh all-time low of 94.84 against the US dollar during Friday’s session and settled near record levels at 94.81 on March 27, marking a sharp fall of 111 paise (1.18%) from 93.70 on March 20." width="1280" height="720" class="wp-image-13873100 size-full" /> The Indian rupee weakened further this week, extending its decline for the fourth consecutive week. It hit a fresh all-time low of 94.84 against the US dollar during Friday’s session and settled near record levels at 94.81 on March 27, marking a sharp fall of 111 paise (1.18%) from 93.70 on March 20.

Markets fall for fifth straight week, longest losing streak since August 2025; Rupee at record low

India unlikely to be worst hit even in an Iran war–led global recession, Expect RBI to hold rates in April policy, See global growth slowdown if US-Iran conflict remains unresolved for next 8-10 weeks

* India unlikely to be worst hit even in an Iran war–led global recession
* Expect RBI to hold rates in April policy
* See global growth slowdown if US-Iran conflict remains unresolved for next 8-10 weeks

shorts/business/daily-voice-india-unlikely-to-be-worst-hit-even-in-an-iran-war-led-global-recession-says-tcg-amc-s-shahzad-madon

Shahzad Madon, the MD &amp;amp; CEO at TCG AMC, said that if the US-Iran conflict remains unresolved for next 8-10 weeks, the global economy is more likely to see a growth slowdown and inflation spike rather than an immediate severe recession.

However, if the situation is prolonged, it could lead to a recession, he said in an interview to Moneycontrol.

He believes India is unlikely to be the worst affected, even in the event of a global recession, though it will not be completely insulated. Strong domestic demand and robust pre-war macro fundamentals provides cushion against such global crisis, he said.

Do you think the recent correction has already been priced in for India, setting the stage for potential upside?

Indian economic fundamentals and corporate performance remained robust as we entered the war, and are expected to strengthen further going ahead. Following the initial shock, major indices have corrected by ~10–12 percent from their respective 52-week highs. Historically, markets tend to react sharply during the onset of conflicts but recover in cases of short-duration wars.

In prolonged conflicts, after the initial volatility, markets typically stabilise. Our base case is that there may be clarity on the outcome of the war over the next 2–10 weeks. Given this context, As the current conflict eases, relatively moderated valuations combined with robust corporate earnings could provide a basis for potential upside in the markets.

Do you believe the global economy is edging toward a severe recession if there is no resolution in the next couple of weeks?

If the conflict remains unresolved for next 8-10 weeks, the global economy is more likely to see a growth slowdown and inflation spike rather than an immediate severe recession. However, if the situation is prolonged, it could lead to a recession.

Do you think India may not be the worst affected even in the event of a global recession?

India is unlikely to be the worst affected, even in the event of a global recession, though it will not be completely insulated. Strong domestic demand and robust pre-war macro fundamentals provides cushion against such global crisis.

While external headwinds like weaker exports and capital flow volatility may create some pressure, the overall impact is likely to be relatively contained compared to more export-dependent economies. Further, India benefits from a more diversified energy sourcing base.

Do you think post-war rebuilding in the Middle East could unlock massive infrastructure demand? Which themes should investors focus on?

Yes, post-war rebuilding in the Middle East can unlock significant infrastructure opportunities, particularly through large-scale government-led reconstruction. Key themes which we believe will play out are energy security &amp;amp; transition, defence &amp;amp; indigenisation, capital goods.

Which sectors are on your radar that offer bottom-up opportunities at present?

Current valuations have turned attractive across select pockets of the market, creating bottom-up opportunities. We are constructive on energy security &amp;amp; transition, digital infrastructure, defence &amp;amp; indigenisation, industrial manufacturing, and mobility &amp;amp; urban development. These sectors offer a combination of earnings visibility, structural tailwinds, and reasonable valuations.

Is this the right time to gradually accumulate IT sector stocks?

Yes, we believe this is a good time to gradually accumulate IT stocks. While near-term demand visibility remains moderate, current valuations are reasonable. Additionally, evolving dynamics in the AI space are likely to be beneficial for IT companies over the period. We do not subscribe to the “IT apocalypse” view.

Do you believe the euphoria in gold and silver is unwinding amid visible price correction?

Yes, the recent correction suggests that some of the euphoria in gold and silver may be moderating, at least in the near term. Higher interest rates in developed markets are already weighing on gold &amp;amp; silver, at the same time, central banks—which had been strong buyers—may shift focus in the near term toward stabilising currencies and managing reserves, rather than aggressively accumulating gold.

For silver, the dynamics are slightly different. While it does benefit from precious metal sentiment, it is also a significant industrial commodity. If global industrial demand slows, particularly in manufacturing and electronics, silver prices could face additional pressure.

What do you expect from the RBI policy and the governor’s commentary in the April meeting?

We expect the RBI to hold rates in the April policy, as there is still limited visibility on how the current global and geopolitical situation evolves. The Governor’s commentary is likely to remain cautious and data-dependent, with a continued focus on inflation risks, while keeping growth considerations in mind.

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: India unlikely to be worst hit even in an Iran war–led global recession, says TCG AMC's Shahzad Madon

The stock markets in India will remain open for only three sessions next week due to two holidays.

The domestic markets had a truncated week this time as well, with trading shut on Thursday on account of Shri Ram Navami.

Stock exchanges will remain closed next week for Shri Mahavir Jayanti and Good Friday, leading to a shortened trading week.

Following these, the next market holiday will be observed on April 14 for Dr Baba Saheb Ambedkar Jayanti. This will be followed by holidays on May 1 for Maharashtra Day and May 28 for Bakri Id.
Stock Market Holiday 2026 Full List



Day 
Date
Event


March 31
Tuesday
Shri Mahavir Jayanti


April 3
Friday
Good Friday


April 14
Tuesday
Dr. Baba Saheb Ambedkar Jayanti


May 1
Friday
Maharashtra Day


May 28
Thursday
Bakri Id


June 26
Friday
Muharram


September 14
Monday
Ganesh Chaturthi


October 2
Friday
Mahatma Gandhi Jayanti


October 20
Tuesday
Dussehra


November 10
Tuesday
Diwali-Balipratipada


November 24
Tuesday
Prakash Gurpurb Sri Guru Nanak Dev


December 25
Friday
Christmas



&amp;nbsp;

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.

Stock market holidays 2026: NSE, BSE to remain open for just 3 sessions next week

Sensex and Nifty fell sharply amid US-Iran conflict concerns., Crude oil above $100 and rupee fall added to weak sentiment., Indices risk more losses if key supports are broken.

* Sensex and Nifty fell sharply amid US-Iran conflict concerns.
* Crude oil above $100 and rupee fall added to weak sentiment.
* Indices risk more losses if key supports are broken.

Sensex and Nifty closed sharply lower, extending losses amid US-Iran conflict, high crude prices, rupee fall, and foreign fund outflows. Analysts warn of further downside if key support levels are breached, with volatility expected in coming weeks.

shorts/business/nifty-could-slip-to-22k-on-break-of-next-support-say-analysts-check-key-levels-ahead-of-truncated-trading-week

The benchmark equity indices Sensex and Nifty settled sharply lower on Friday, extending their ongoing corrective phase amid continued uncertainty over the US-Iran conflict and its impact on global markets.

Weak sentiment was further weighed down by crude oil prices remaining above the USD 100 per barrel mark, a sharp fall in the rupee and persistent foreign fund outflows.

The Nifty opened on a subdued note and remained under sustained selling pressure throughout the session. Despite brief intraday recovery attempts, the index failed to gain traction and settled near the day’s low at 22,819.60, down 486.85 points or 2.09 percent.

The Sensex dropped 1,690.23 points or 2.25 percent to close at 73,583.22. During the day, it tumbled 1,739.04 points or 2.31 percent to 73,534.41.

Market analysts said the Nifty is hovering near key support levels and may see further downside if these levels are breached.

Ajit Mishra, SVP, Research, Religare Broking, said the index continues to trade near crucial support despite entering oversold territory. Immediate support is seen around 22,500, and a decisive break below this level could drag the index towards 22,000. On the upside, 23,000 may act as an immediate hurdle, followed by a stronger resistance near 23,500.

Analysts at Choice Broking said the index formed a sizeable bearish candle with a lower high and a lower low, indicating resumption of the downtrend after a brief pullback. They expect the index to consolidate in the 22,450–23,850 range in the coming weeks amid volatility driven by rising crude prices and geopolitical tensions. A breach below the previous week’s low of 22,471 may lead to further downside towards 22,100 and 21,800 levels, they added.

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, said the underlying trend has turned sharply negative after the recent pullback rally. He expects further weakness towards 22,450 and lower in the coming week, with positional support placed at 22,000 and immediate resistance at 23,200.

Benchmark indices declined for a fifth consecutive week on March 27, marking their longest losing streak in about eight months, as elevated crude oil prices and ongoing tensions in the Middle East continued to pressure markets.
Key factors behind market decline
For the week, both Sensex and Nifty fell about 1.3 percent each, while broader markets saw small-cap and mid-cap indices decline 0.6 percent and 1.4 percent, respectively.

Since February 28, when the US-Israeli conflict involving Iran began, both the Sensex and the Nifty have fallen about 9.5 percent.

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.

Nifty could slip to 22k on break of next support, say analysts; check key levels ahead of truncated trading week

2 out of 4 years BSE Services has given positive returns in March.

Type	R1	R2	R3	PP	S1	S2	S3
Classic	1,346.32	1,368.52	1,380.40	1,334.44	1,312.24	1,300.36	1,278.16
Fibonacci	1,347.46	1,355.50	1,368.52	1,334.44	1,321.42	1,313.38	1,300.36
Camarilla	1,327.24	1,330.37	1,333.49	1,334.44	1,321.00	1,317.87	1,314.75

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