NIFTY Realty

Sensex and Nifty fell over 1 percent as crude prices surged., 15 of 16 major sectors declined; defence stocks gained 6 percent., State-owned banks fell 6.5% due to borrowing cost worries.

* Sensex and Nifty fell over 1 percent as crude prices surged.
* 15 of 16 major sectors declined; defence stocks gained 6 percent.
* State-owned banks fell 6.5% due to borrowing cost worries.

Indian stock indices fell over 1% Friday amid West Asia conflict, rising crude prices, weak global markets, and foreign fund outflows. Sensex dropped 1,097 points; Nifty lost 315. Most sectors declined, with defence stocks gaining nearly 6% for the week.

shorts/business/middle-east-war-impact-indian-markets-log-worst-week-in-over-a-year-check-top-losers

* Sensex and Nifty fell over 1 percent as crude prices surged.
* 15 of 16 major sectors declined; defence stocks gained 6 percent.
* State-owned banks fell 6.5% due to borrowing cost worries.

The benchmark equity indices declined more than 1 percent on Friday after a day’s breather as the conflict in West Asia entered its seventh day, pushing crude oil prices higher and weighing on investor sentiment.

Weakness in US equities, a subdued trend in European markets and continued foreign fund outflows also dragged the markets lower.

The Sensex tumbled 1,097 points, or 1.37 percent, to settle at 78,918.90. During the day, it dropped 1,203.72 points, or 1.5 percent, to 78,812.18. The broader Nifty fell 315.45 points, or 1.27 percent, to close at 24,450.45.

For the week, both the Sensex and the Nifty lost about 2.9 percent each. The fall marked the steepest weekly decline for the Nifty since February 28, 2025, and for the Sensex since December 20, 2024.

"The market is taking into account the near-term threat from oil prices," said Pankaj Pandey, Head of Retail Research at ICICI Securities.

"However, we don't yet see a macroeconomic impact from this as the broad expectation is that crude prices will not remain elevated for a long period," he said. The rupee ended marginally lower on Friday and posted its worst weekly fall in more than a month.

Sectorally, 15 of the 16 major sectors declined during the week. Small-cap and mid-cap indices fell 2.5 percent and 2.9 percent, respectively.

Shares of state-owned banks dropped about 6.5 percent amid concerns that higher crude prices could increase government borrowing costs, push bond yields higher and compress treasury gains.

Financial and banking stocks declined around 4.5 percent each.

Among individual stocks, shares of Larsen &amp; Toubro slipped 2.2 percent on Friday and fell 7.7 percent for the week, their worst performance since May 2020, as investors factored in the company’s exposure to the West Asia.

Shares of <a href="https://www.moneycontrol.com/india/stockpricequote/transportlogistics/interglobeaviation/IA04">InterGlobe Aviation</a> dropped 2.4 percent on Friday and 8.8 percent during the week, the worst in three months, amid concerns that higher fuel costs and moderation in international air traffic could impact quarterly earnings.
<h3><a href="https://www.moneycontrol.com/news/business/markets/west-asia-war-impact-indigo-shares-decline-3-as-multiple-brokerages-flag-pressure-on-airline-s-earnings-13853001.html" target="_blank">West Asia war impact: IndiGo shares decline 3% as multiple brokerages flag pressure on airline's earnings</a></h3>
Among the top losers on the Nifty during the week were Tata Motors Passenger Vehicle, which declined 9.6 percent, Larsen &amp; Toubro which fell 11.7 percent, HDFC Life Insurance down 6.61 percent and Tata Steel which dropped 8.28 percent.

Among mid-cap stocks, L&amp;T Finance declined 12.58 percent, Petronet LNG fell 15.63 percent, Macrotech Developers dropped 10.82 percent, Indian Oil Corporation lost 11.31 percent, KPIT Technologies slipped 9.6 percent and Rail Vikas Nigam fell 12.14 percent.

Defence stocks outperformed the broader market and gained nearly 6 percent during the week, with Paras Defence and Space Technologies and Solar Industries India emerging as the top gainers.

(With inputs from Reuters)

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.

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Middle East war impact: Indian markets log worst week in over a year; check top losers

The benchmark equity indices declined more than 1 percent on Friday after a day’s breather as the conflict in West Asia entered its seventh day, pushing crude oil prices higher and weighing on investor sentiment.

Weakness in US equities, a subdued trend in European markets and continued foreign fund outflows also dragged the markets lower.

The Sensex tumbled 1,097 points, or 1.37 percent, to settle at 78,918.90. During the day, it dropped 1,203.72 points, or 1.5 percent, to 78,812.18. The broader Nifty fell 315.45 points, or 1.27 percent, to close at 24,450.45.

For the week, both the Sensex and the Nifty lost about 2.9 percent each. The fall marked the steepest weekly decline for the Nifty since February 28, 2025, and for the Sensex since December 20, 2024.

&quot;The market is taking into account the near-term threat from oil prices,&quot; said Pankaj Pandey, Head of Retail Research at ICICI Securities.

&quot;However, we don't yet see a macroeconomic impact from this as the broad expectation is that crude prices will not remain elevated for a long period,&quot; he said. The rupee ended marginally lower on Friday and posted its worst weekly fall in more than a month.

Sectorally, 15 of the 16 major sectors declined during the week. Small-cap and mid-cap indices fell 2.5 percent and 2.9 percent, respectively.

Shares of state-owned banks dropped about 6.5 percent amid concerns that higher crude prices could increase government borrowing costs, push bond yields higher and compress treasury gains.

Financial and banking stocks declined around 4.5 percent each.

Among individual stocks, shares of Larsen &amp;amp; Toubro slipped 2.2 percent on Friday and fell 7.7 percent for the week, their worst performance since May 2020, as investors factored in the company’s exposure to the West Asia.

Shares of InterGlobe Aviation dropped 2.4 percent on Friday and 8.8 percent during the week, the worst in three months, amid concerns that higher fuel costs and moderation in international air traffic could impact quarterly earnings.
West Asia war impact: IndiGo shares decline 3% as multiple brokerages flag pressure on airline's earnings
Among the top losers on the Nifty during the week were Tata Motors Passenger Vehicle, which declined 9.6 percent, Larsen &amp;amp; Toubro which fell 11.7 percent, HDFC Life Insurance down 6.61 percent and Tata Steel which dropped 8.28 percent.

Among mid-cap stocks, L&amp;amp;T Finance declined 12.58 percent, Petronet LNG fell 15.63 percent, Macrotech Developers dropped 10.82 percent, Indian Oil Corporation lost 11.31 percent, KPIT Technologies slipped 9.6 percent and Rail Vikas Nigam fell 12.14 percent.

Defence stocks outperformed the broader market and gained nearly 6 percent during the week, with Paras Defence and Space Technologies and Solar Industries India emerging as the top gainers.

(With inputs from Reuters)

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 logs biggest weekly loss in a year, 24,000 likely to be a key support for Nifty next week, 25,000 expected to be crucial hurdle for Nifty, Bank Nifty crashes 4.54%, the biggest weekly loss since December 2024

* Nifty logs biggest weekly loss in a year
* 24,000 likely to be a key support for Nifty next week
* 25,000 expected to be crucial hurdle for Nifty
* Bank Nifty crashes 4.54%, the biggest weekly loss since December 2024

shorts/business/technical-view-nifty-logs-biggest-weekly-loss-in-a-year-iran-war-driven-oil-spike-puts-24-300-at-risk-next-week-bank-nifty-slips-below-budget-day-low

* Nifty logs biggest weekly loss in a year
* 24,000 likely to be a key support for Nifty next week
* 25,000 expected to be crucial hurdle for Nifty
* Bank Nifty crashes 4.54%, the biggest weekly loss since December 2024

The Nifty 50 gave up all its previous day's gains and fell decisively below 24,500 on March 6, reporting the biggest weekly loss in the last one year, as bearish sentiment remained strong with the index trading well below all key moving averages and showing no signs of improvement in momentum indicators.

Spiking oil prices to a 19-month high, amid further deepening geopolitical tensions between the United States, Israel, and Iran, sent global equity markets down, resulting in a sharp correction in Indian equity benchmarks.

Next week, 24,300 (which coincides with the upward-sloping long support trendline and the current week's low touched on Wednesday) is expected to be a crucial zone. A decisive fall below it can drive the index toward 24,050–24,000 (the 50 percent Fibonacci retracement of the April 2025 low to the January 2026 high, and also a psychological support level). However, sustaining above it could keep the market in consolidation with range-bound trading, with crucial resistance at 25,000–25,200, experts said.

The Nifty 50 opened lower and remained under the bears' control throughout the session. In fact, the index extended losses as the day progressed and closed at 24,450, down 315 points (1.27 percent), forming a long bearish candle on the daily charts with a lower high–lower low formation, indicating weakness.

“The present market action signals that Nifty has negated the bullish sentiment that was created after the sharp gain on Thursday. This is not a good sign and suggests that the Nifty could retest Wednesday's low of 24,300 in the short term,” said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, adding that immediate resistance is placed at 24,700.

Momentum indicators and oscillators remained in sell mode on both the daily and weekly charts. The Relative Strength Index (RSI) on the daily charts fell to 33.45, while the Moving Average Convergence Divergence (MACD) maintained a bearish bias with further expansion in the red histogram.

For the week, the index plunged 2.89 percent, the biggest weekly loss since February 2025, and formed a red candle with a long upper shadow and a minor lower shadow on the weekly timeframe, signalling negative bias with pressure at higher levels while sustaining below short- and medium-term moving averages.

Nilesh Jain, VP and Head of Technical and Derivative Research at Centrum Finverse, also agreed with Nagaraj Shetti, saying the broader structure remains weak, and any pullback is likely to attract selling pressure.

Meanwhile, the India VIX remained in elevated zones, rising 11.33 percent to 19.88 on Friday and surging 45 percent during the week, marking a major risk for bulls. Any further rise in volatility could intensify downside risks for the market.

The weekly options data also suggested that 24,000, where the maximum Put open interest is placed, is expected to be a key support in the short term, while 25,000, which has the maximum Call open interest, is likely to be a crucial hurdle on the higher side. This means the index may possibly trade in the 24,000–25,000 range next week.

Bank Nifty

A severe correction was seen in the banking index, which underperformed the benchmark Nifty 50. The Bank Nifty plummeted 1,273 points (2.15 percent) to close at 57,783, exactly at the Budget-day low, though intraday it dipped to 57,696. It formed a long bearish candle on the daily scale, weakening the market mood.

Now the 200-day EMA (57,430) is expected to be at major risk, considering the index finally closed well below the 100-day EMA.

Notably, with Friday’s close, the index has closed below its 20-week EMA for the first time since September 2025, indicating a potential shift in medium-term momentum, with bears possibly gaining strength.

For the week, the banking index crashed 4.54 percent, the biggest weekly loss since December 2024, and formed a long red candle with an upper shadow on the weekly timeframe, signalling that bears have a strong upper hand.

“The immediate support is placed in the 57,400–57,300 zone, which coincides with the 200-day EMA. Any sustainable move below this zone could result in Bank Nifty extending its weakness towards 56,900, followed by 56,500 in the short term,” said Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities.

On the upside, the 58,200–58,300 zone is likely to act as immediate resistance, he added.

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.

Technical View: Nifty logs biggest weekly loss in a year; Iran war-driven oil spike puts 24,300 at risk next week, Bank Nifty slips below Budget-day low

The Nifty 50 gave up all its previous day's gains and fell decisively below 24,500 on March 6, reporting the biggest weekly loss in the last one year, as bearish sentiment remained strong with the index trading well below all key moving averages and showing no signs of improvement in momentum indicators.

Spiking oil prices to a 19-month high, amid further deepening geopolitical tensions between the United States, Israel, and Iran, sent global equity markets down, resulting in a sharp correction in Indian equity benchmarks.

Next week, 24,300 (which coincides with the upward-sloping long support trendline and the current week's low touched on Wednesday) is expected to be a crucial zone. A decisive fall below it can drive the index toward 24,050–24,000 (the 50 percent Fibonacci retracement of the April 2025 low to the January 2026 high, and also a psychological support level). However, sustaining above it could keep the market in consolidation with range-bound trading, with crucial resistance at 25,000–25,200, experts said.

The Nifty 50 opened lower and remained under the bears' control throughout the session. In fact, the index extended losses as the day progressed and closed at 24,450, down 315 points (1.27 percent), forming a long bearish candle on the daily charts with a lower high–lower low formation, indicating weakness.

“The present market action signals that Nifty has negated the bullish sentiment that was created after the sharp gain on Thursday. This is not a good sign and suggests that the Nifty could retest Wednesday's low of 24,300 in the short term,” said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, adding that immediate resistance is placed at 24,700.

Momentum indicators and oscillators remained in sell mode on both the daily and weekly charts. The Relative Strength Index (RSI) on the daily charts fell to 33.45, while the Moving Average Convergence Divergence (MACD) maintained a bearish bias with further expansion in the red histogram.

For the week, the index plunged 2.89 percent, the biggest weekly loss since February 2025, and formed a red candle with a long upper shadow and a minor lower shadow on the weekly timeframe, signalling negative bias with pressure at higher levels while sustaining below short- and medium-term moving averages.

Nilesh Jain, VP and Head of Technical and Derivative Research at Centrum Finverse, also agreed with Nagaraj Shetti, saying the broader structure remains weak, and any pullback is likely to attract selling pressure.

Meanwhile, the India VIX remained in elevated zones, rising 11.33 percent to 19.88 on Friday and surging 45 percent during the week, marking a major risk for bulls. Any further rise in volatility could intensify downside risks for the market.

The weekly options data also suggested that 24,000, where the maximum Put open interest is placed, is expected to be a key support in the short term, while 25,000, which has the maximum Call open interest, is likely to be a crucial hurdle on the higher side. This means the index may possibly trade in the 24,000–25,000 range next week.

Bank Nifty

A severe correction was seen in the banking index, which underperformed the benchmark Nifty 50. The Bank Nifty plummeted 1,273 points (2.15 percent) to close at 57,783, exactly at the Budget-day low, though intraday it dipped to 57,696. It formed a long bearish candle on the daily scale, weakening the market mood.

Now the 200-day EMA (57,430) is expected to be at major risk, considering the index finally closed well below the 100-day EMA.

Notably, with Friday’s close, the index has closed below its 20-week EMA for the first time since September 2025, indicating a potential shift in medium-term momentum, with bears possibly gaining strength.

For the week, the banking index crashed 4.54 percent, the biggest weekly loss since December 2024, and formed a long red candle with an upper shadow on the weekly timeframe, signalling that bears have a strong upper hand.

“The immediate support is placed in the 57,400–57,300 zone, which coincides with the 200-day EMA. Any sustainable move below this zone could result in Bank Nifty extending its weakness towards 56,900, followed by 56,500 in the short term,” said Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities.

On the upside, the 58,200–58,300 zone is likely to act as immediate resistance, he added.

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.

Sensex and Nifty fell over 1 percent amid broad sector sell-off, US-Iran tensions drive oil prices up, impacting market sentiment, Defence index surged 3 percent, while banks and realty declined

* Sensex and Nifty fell over 1 percent amid broad sector sell-off
* US-Iran tensions drive oil prices up, impacting market sentiment
* Defence index surged 3 percent, while banks and realty declined

Indian benchmark indices fell over 1% on March 6, with Nifty closing below 25,500 amid broad sectoral declines, especially in financial and realty stocks. Geopolitical tensions and rising oil prices weighed on sentiment; Sensex and Nifty dropped nearly 3% for the week.

shorts/business/taking-stock-bears-back-in-action-sensex-tumbles-1-097-pts-nifty-slips-to-24-450

* Sensex and Nifty fell over 1 percent amid broad sector sell-off
* US-Iran tensions drive oil prices up, impacting market sentiment
* Defence index surged 3 percent, while banks and realty declined

Indian benchmark indices failed to sustain the previous session’s momentum and slipped more than 1 percent on March 6, with the Nifty settling at 24,450 amid selling pressure across the sectors, especially in financial and realty stocks.

Persistent geopolitical tensions due to the ongoing US-Iran conflict pushed oil prices higher, weighing on market sentiment. The benchmarks opened lower and traded in a narrow range throughout the session before closing near the day’s low.

At close, the Sensex was down 1,097 points or 1.37 percent at 78,918.90, and the Nifty was down 315.45 points or 1.27 percent at 24,450.45.

Broader indices outperformed with Nifty Midcap index falling 0.7 percent, and Smallcap index down 0.2 percent.

For the week, BSE Sensex and Nifty fell nearly 3 percent each.

Also Read - <a href="https://www.moneycontrol.com/news/business/commodities/india-orders-ioc-bpcl-and-hpcl-to-prioritise-lpg-production-from-propane-and-butane-13852743.html">India orders IOC, BPCL and HPCL to prioritise LPG production from propane and butane</a>

Among Nifty constituents, ICICI Bank, Eternal, Shriram Finance, Axis Bank, and UltraTech Cement were the top losers, while Bharat Electronics, Reliance Industries, NTPC, ONGC, and Sun Pharma emerged as the key gainers.

Sectoral indices ended on a mixed note. Auto, realty, PSU Bank, and private bank indices declined 1-2 percent. On the other hand, the defence index surged nearly 3 percent, while Capital Goods index rose 1.3 percent and Power index gained 0.4 percent.

Also Read - <a href="https://www.moneycontrol.com/news/business/markets/india-gold-etf-inflows-slow-to-565-million-in-february-13852233.html">India Gold ETF inflows slow to $565 million in February</a>

In stock specific, Rajesh Power share price rose 1.5% on signing agreement with Gujarat Urja Vikas Nigam, ICICI Bank shares fell 3% on 1.02 million shares traded in a block, DCX Systems added 9% on winning purchase order of Rs 68 crore.

Reliance Industries shares rose 1% on 30-day waiver from US to purchase Russian oil, Fractal Analytics shares jumped 5% after consolidated profit rises 10%, Standard Engineering share price rose 3.5% on agreement with API Pharma, Garden Reach share price gained 5% on MoU with Kalyani Strategic Systems.

More than 250 stocks touched their 52-week low, including Cohance Lifesciences , Sonata Software, Procter and Gamble Hygiene and Health Care, Berger Paints, Alkyl Amines, Cyient, among others. <a href="https://www.moneycontrol.com/stocks/market-stats/52-week-low-bse/?indexName=BSE%2520500&amp;id=12">Click to View More</a>

Also Read - <a href="https://www.moneycontrol.com/news/business/markets/fiis-dump-rs-17000-crore-in-it-stocks-in-february-amid-ai-concerns-13852109.html">FIIs dump Rs 17,000 crore in IT stocks in Februaryu amid AI concerns</a>

Outlook for March 9

Rupak De, Senior Technical Analyst at LKP Securities

Bears returned to the market as the Nifty slipped back after a one-day rebound. Thursday’s bounce was neither wholehearted nor convincing, leading to selling on Friday. Besides, investors preferred to stay light ahead of the weekend.

Technically, the index remains below the previous swing low, indicating continued bearishness.

In the short term, the index may continue to decline, with the potential to move towards 24,000 or lower. On the higher side, resistance is placed at 25,000; until this level is crossed decisively, the trend is likely to favor a sell-on-rise strategy.

Ajit Mishra – SVP, Research, Religare Broking

Markets traded under pressure on Friday, giving up part of the previous session’s gains amid cautious global sentiment and profit booking in select heavyweights. The Nifty opened on a subdued note and traded dull for most of the session. However, selling pressure in select heavyweights during the final hour pushed the index sharply lower, and it eventually closed near the day’s low at around the 24,450 level.

Sectoral participation largely mirrored the benchmark’s weakness, with banking, realty, and auto stocks emerging as key laggards. Meanwhile, selective buying in energy and IT counters offered some support and helped limit the overall decline. Interestingly, the broader indices showed relative resilience: the smallcap index ended almost unchanged while the midcap index declined by nearly half a percent.

Investor sentiment remained guarded amid lingering geopolitical uncertainties and elevated crude oil prices, which continue to influence global risk appetite. Participants also stayed selective ahead of the weekend, preferring to trim positions following the sharp swings witnessed earlier in the week.

The sharp swings in the Nifty index, combined with elevated volatility, indicate a cautious undertone. A break below the recent swing low of 24,300 could quickly drag the index toward the 24,000 level. Fresh weakness in the banking pack, which carries significant weight in the index, also adds to the negative bias. However, strength in select sectors and themes such as pharma, metal, PSE, and defense continues to offer buying opportunities on a rotational basis. Given the current setup, we maintain a cautious stance and recommend staying selective while focusing on strict risk management until the market stabilizes.

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 back in action; Sensex tumbles 1,097 pts, Nifty slips to 24,450

Indian benchmark indices failed to sustain the previous session’s momentum and slipped more than 1 percent on March 6, with the Nifty settling at 24,450 amid selling pressure across the sectors, especially in financial and realty stocks.

Persistent geopolitical tensions due to the ongoing US-Iran conflict pushed oil prices higher, weighing on market sentiment. The benchmarks opened lower and traded in a narrow range throughout the session before closing near the day’s low.

At close, the Sensex was down 1,097 points or 1.37 percent at 78,918.90, and the Nifty was down 315.45 points or 1.27 percent at 24,450.45.

Broader indices outperformed with Nifty Midcap index falling 0.7 percent, and Smallcap index down 0.2 percent.

For the week, BSE Sensex and Nifty fell nearly 3 percent each.

Also Read - India orders IOC, BPCL and HPCL to prioritise LPG production from propane and butane

Among Nifty constituents, ICICI Bank, Eternal, Shriram Finance, Axis Bank, and UltraTech Cement were the top losers, while Bharat Electronics, Reliance Industries, NTPC, ONGC, and Sun Pharma emerged as the key gainers.

Sectoral indices ended on a mixed note. Auto, realty, PSU Bank, and private bank indices declined 1-2 percent. On the other hand, the defence index surged nearly 3 percent, while Capital Goods index rose 1.3 percent and Power index gained 0.4 percent.

Also Read - India Gold ETF inflows slow to $565 million in February

In stock specific, Rajesh Power share price rose 1.5% on signing agreement with Gujarat Urja Vikas Nigam, ICICI Bank shares fell 3% on 1.02 million shares traded in a block, DCX Systems added 9% on winning purchase order of Rs 68 crore.

Reliance Industries shares rose 1% on 30-day waiver from US to purchase Russian oil, Fractal Analytics shares jumped 5% after consolidated profit rises 10%, Standard Engineering share price rose 3.5% on agreement with API Pharma, Garden Reach share price gained 5% on MoU with Kalyani Strategic Systems.

More than 250 stocks touched their 52-week low, including Cohance Lifesciences , Sonata Software, Procter and Gamble Hygiene and Health Care, Berger Paints, Alkyl Amines, Cyient, among others. Click to View More

Also Read - FIIs dump Rs 17,000 crore in IT stocks in Februaryu amid AI concerns

Outlook for March 9

Rupak De, Senior Technical Analyst at LKP Securities

Bears returned to the market as the Nifty slipped back after a one-day rebound. Thursday’s bounce was neither wholehearted nor convincing, leading to selling on Friday. Besides, investors preferred to stay light ahead of the weekend.

Technically, the index remains below the previous swing low, indicating continued bearishness.

In the short term, the index may continue to decline, with the potential to move towards 24,000 or lower. On the higher side, resistance is placed at 25,000; until this level is crossed decisively, the trend is likely to favor a sell-on-rise strategy.

Ajit Mishra – SVP, Research, Religare Broking

Markets traded under pressure on Friday, giving up part of the previous session’s gains amid cautious global sentiment and profit booking in select heavyweights. The Nifty opened on a subdued note and traded dull for most of the session. However, selling pressure in select heavyweights during the final hour pushed the index sharply lower, and it eventually closed near the day’s low at around the 24,450 level.

Sectoral participation largely mirrored the benchmark’s weakness, with banking, realty, and auto stocks emerging as key laggards. Meanwhile, selective buying in energy and IT counters offered some support and helped limit the overall decline. Interestingly, the broader indices showed relative resilience: the smallcap index ended almost unchanged while the midcap index declined by nearly half a percent.

Investor sentiment remained guarded amid lingering geopolitical uncertainties and elevated crude oil prices, which continue to influence global risk appetite. Participants also stayed selective ahead of the weekend, preferring to trim positions following the sharp swings witnessed earlier in the week.

The sharp swings in the Nifty index, combined with elevated volatility, indicate a cautious undertone. A break below the recent swing low of 24,300 could quickly drag the index toward the 24,000 level. Fresh weakness in the banking pack, which carries significant weight in the index, also adds to the negative bias. However, strength in select sectors and themes such as pharma, metal, PSE, and defense continues to offer buying opportunities on a rotational basis. Given the current setup, we maintain a cautious stance and recommend staying selective while focusing on strict risk management until the market stabilizes.

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.

Sensex and Nifty drop amid geopolitical tensions, rising crude prices., Banking stocks declined as crude prices rose and FIIs sold shares., IT, metal, and consumer durables indices traded in the green.

* Sensex and Nifty drop amid geopolitical tensions, rising crude prices.
* Banking stocks declined as crude prices rose and FIIs sold shares.
* IT, metal, and consumer durables indices traded in the green.

Sensex and Nifty fell on Friday amid West Asia tensions, rising crude prices, weak global cues, and continued FII outflows. Most sectoral indices declined, except IT, metal, and consumer durables. Banking stocks dropped as higher crude may delay rate cuts.

shorts/business/sensex-down-400-pts-nifty-below-24-650-rising-crude-among-key-factors-behind-market-fall

* Sensex and Nifty drop amid geopolitical tensions, rising crude prices.
* Banking stocks declined as crude prices rose and FIIs sold shares.
* IT, metal, and consumer durables indices traded in the green.

The benchmark equity indices declined by over 1 percent on Friday after a day’s breather, as the conflict in the West Asia entered its seventh day, driving crude oil prices higher.

The Sensex tumbled 1,097 points, or 1.37 percent, to settle at 78,918.90. During the day, it sank 1,203.72 points, or 1.5 percent, to 78,812.18. The Nifty dropped 315.45 points, or 1.27 percent, to end at 24,450.45.

For the week, the Nifty and Sensex lost about 2.9% each, marking their steepest weekly decline since February 28, 2025 and December 20, 2024, respectively.

Most of the Nifty sectoral indices settled in the red, barring IT. The broader markets Nifty Smallcap100 and Nifty Midcap100 ended 0.24 percent and 0.69 percent lower, respectively.

IndiGo shares snapped the previous session’s gains, when the stock had settled nearly 3 percent higher. However, the stock is down 9.5 percent this week. <a href="https://www.moneycontrol.com/india/stockpricequote/banks-private-sector/icicibank/ICI02">ICICI Bank</a>, Max Healthcare Institute and Bajaj Finserv were among the major laggards in the Nifty50 pack, declining up to 2 percent, while <a href="https://www.moneycontrol.com/india/stockpricequote/refineries/relianceindustries/RI">Reliance Industries</a> and HCL Technologies were among the top gainers, rising up to 2.5 percent.
<h3>Key factors behind market decline</h3>
1) Escalating geopolitical tensions: Investor risk appetite remained fragile amid the ongoing US-Israeli conflict with Iran. The situation has raised concerns over a possible disruption in energy supplies, which could push crude prices higher, revive inflationary pressures and affect the global growth outlook.

The market is taking into account the near-term threat from oil prices, said Pankaj Pandey, head of retail research at ICICI Securities. "However, we don't yet see a macroeconomic impact from this as the broad expectation is that crude prices will not remain elevated for a long period."

2) Weak global cues: In Asian markets, South Korea’s Kospi was trading over 1 percent lower. US markets had ended lower on Thursday.
<h3><a href="https://www.moneycontrol.com/news/business/markets/sensex-today-stock-market-live-updates-nifty50-share-price-gift-nifty-latest-updates-06-03-2026-liveblog-13852360.html" target="_blank">Stock Market Live Updates</a></h3>
3) FII outflows: Foreign institutional investors (FIIs) remained net sellers, offloading equities worth Rs 3,752.52 crore on Thursday. So far in March, FIIs have sold shares worth nearly Rs 16,000 crore.

4) Higher crude prices: Brent crude jumped about 5 percent on Thursday to a 20-month high of $86.28 per barrel. It was trading at $84.4 per barrel at around 9:15 am IST on Friday.

VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, said crude prices have risen about 16 percent since the start of the conflict but the spike is still moderate compared with earlier geopolitical crises.

"It is important to understand that even though crude has spiked by about 16 percent since the war began, this is not among the major spikes in crude compared to earlier geopolitical crises which impacted crude," he said.

"This reflects the potential huge supply of oil available in the global market. Once the West Asian crisis de-escalates, crude prices will dip sharply and markets will bounce back," Vijayakumar added.

He said crude prices will continue to influence markets in the near term.

"So long as Brent crude moves around $85 levels, the market is unlikely to be impacted. On the other hand, if Brent price spikes above $90 and moves towards $100, global markets will be impacted. Therefore, watch out for crude prices," he said.

5) Selling in banking shares: Banking stocks were under pressure, with the Bank Nifty falling more than 2 percent or 1,300 points. The Nifty PSU Bank and Nifty Private Bank indices were also down more than 1 percent. Sharp selling pressure was seen in frontline banking stocks, including HDFC Bank, which declined 2.34 percent. ICICI Bank settled 3.13 percent lower, while State Bank of India and Axis Bank declined 2.5 percent each.

Rising crude prices tend to push up inflation in an oil-importing country like India. Higher inflation could delay interest rate cuts by the Reserve Bank of India, which may keep borrowing costs elevated. This typically weighs on banking shares.

6) India Vix rises: The fear gauge or the volatility index rose more than 12 percent to 20.07 level. Higher Vix indicates increased uncertainity among investors.

7) Qatar remark on crude price surge: The war in the Middle East could trigger a global economic shock if it continues for weeks, with Gulf energy exporters potentially forced to halt production and <a href="https://www.moneycontrol.com/world/oil-at-150-qatar-warns-middle-east-war-could-choke-gulf-energy-supplies-within-weeks-article-13853061.html" target="_blank">oil prices surging to $150 a barrel</a>, Qatar’s energy minister Saad al-Kaabi told the Financial Times.
<h3>Technical outlook</h3>
Anand James, Chief Market Strategist at Geojit Investments Limited, said the Nifty may see consolidation after achieving the previous day’s target.

"Having fully achieved yesterday’s objective of 24,840, a consolidation is expected today. Meanwhile, the formation of a morning star candlestick pattern encourages us to look further ahead, marking 25,000–25,150–25,480 as the near-term objectives," he said.

"Alternatively, inability to hold above 24,530 will force us to abandon such a view and bring 24,000–23,550 back into the radar," he added.

(With inputs from Reuters)

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.

Sensex settles 1,100 pts lower, Nifty ends at 24,450: Rising crude prices among key factors behind market crash

Sensex news today: Sensex settles 1,100 pts lower, Nifty ends at 24,450: Rising crude prices among key factors behind market crash

The benchmark equity indices declined by over 1 percent on Friday after a day’s breather, as the conflict in the West Asia entered its seventh day, driving crude oil prices higher.

The Sensex tumbled 1,097 points, or 1.37 percent, to settle at 78,918.90. During the day, it sank 1,203.72 points, or 1.5 percent, to 78,812.18. The Nifty dropped 315.45 points, or 1.27 percent, to end at 24,450.45.

For the week, the Nifty and Sensex lost about 2.9% each, marking their steepest weekly decline since February 28, 2025 and December 20, 2024, respectively.

Most of the Nifty sectoral indices settled in the red, barring IT. The broader markets Nifty Smallcap100 and Nifty Midcap100 ended 0.24 percent and 0.69 percent lower, respectively.

IndiGo shares snapped the previous session’s gains, when the stock had settled nearly 3 percent higher. However, the stock is down 9.5 percent this week. ICICI Bank, Max Healthcare Institute and Bajaj Finserv were among the major laggards in the Nifty50 pack, declining up to 2 percent, while Reliance Industries and HCL Technologies were among the top gainers, rising up to 2.5 percent.
Key factors behind market decline
1) Escalating geopolitical tensions: Investor risk appetite remained fragile amid the ongoing US-Israeli conflict with Iran. The situation has raised concerns over a possible disruption in energy supplies, which could push crude prices higher, revive inflationary pressures and affect the global growth outlook.

The market is taking into account the near-term threat from oil prices, said Pankaj Pandey, head of retail research at ICICI Securities. &quot;However, we don't yet see a macroeconomic impact from this as the broad expectation is that crude prices will not remain elevated for a long period.&quot;

2) Weak global cues: In Asian markets, South Korea’s Kospi was trading over 1 percent lower. US markets had ended lower on Thursday.
Stock Market Live Updates
3) FII outflows: Foreign institutional investors (FIIs) remained net sellers, offloading equities worth Rs 3,752.52 crore on Thursday. So far in March, FIIs have sold shares worth nearly Rs 16,000 crore.

4) Higher crude prices: Brent crude jumped about 5 percent on Thursday to a 20-month high of $86.28 per barrel. It was trading at $84.4 per barrel at around 9:15 am IST on Friday.

VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, said crude prices have risen about 16 percent since the start of the conflict but the spike is still moderate compared with earlier geopolitical crises.

&quot;It is important to understand that even though crude has spiked by about 16 percent since the war began, this is not among the major spikes in crude compared to earlier geopolitical crises which impacted crude,&quot; he said.

&quot;This reflects the potential huge supply of oil available in the global market. Once the West Asian crisis de-escalates, crude prices will dip sharply and markets will bounce back,&quot; Vijayakumar added.

He said crude prices will continue to influence markets in the near term.

&quot;So long as Brent crude moves around $85 levels, the market is unlikely to be impacted. On the other hand, if Brent price spikes above $90 and moves towards $100, global markets will be impacted. Therefore, watch out for crude prices,&quot; he said.

5) Selling in banking shares: Banking stocks were under pressure, with the Bank Nifty falling more than 2 percent or 1,300 points. The Nifty PSU Bank and Nifty Private Bank indices were also down more than 1 percent. Sharp selling pressure was seen in frontline banking stocks, including HDFC Bank, which declined 2.34 percent. ICICI Bank settled 3.13 percent lower, while State Bank of India and Axis Bank declined 2.5 percent each.

Rising crude prices tend to push up inflation in an oil-importing country like India. Higher inflation could delay interest rate cuts by the Reserve Bank of India, which may keep borrowing costs elevated. This typically weighs on banking shares.

6) India Vix rises: The fear gauge or the volatility index rose more than 12 percent to 20.07 level. Higher Vix indicates increased uncertainity among investors.

7) Qatar remark on crude price surge: The war in the Middle East could trigger a global economic shock if it continues for weeks, with Gulf energy exporters potentially forced to halt production and oil prices surging to $150 a barrel, Qatar’s energy minister Saad al-Kaabi told the Financial Times.
Technical outlook
Anand James, Chief Market Strategist at Geojit Investments Limited, said the Nifty may see consolidation after achieving the previous day’s target.

&quot;Having fully achieved yesterday’s objective of 24,840, a consolidation is expected today. Meanwhile, the formation of a morning star candlestick pattern encourages us to look further ahead, marking 25,000–25,150–25,480 as the near-term objectives,&quot; he said.

&quot;Alternatively, inability to hold above 24,530 will force us to abandon such a view and bring 24,000–23,550 back into the radar,&quot; he added.

(With inputs from Reuters)

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.

If Iran conflict persists, it can threaten India on multiple counts, It is a high-risk phase, markets likely to remain volatile, It's too early to take any constructive view on earnings derating or macro distortions

* If Iran conflict persists, it can threaten India on multiple counts
* It is a high-risk phase, markets likely to remain volatile
* It's too early to take any constructive view on earnings derating or macro distortions

shorts/business/daily-voice-no-need-to-press-the-panic-button-yet-too-early-to-take-a-constructive-view-on-earnings-derating-amid-the-us-iran-war-says-pradeep-gupta

* If Iran conflict persists, it can threaten India on multiple counts
* It is a high-risk phase, markets likely to remain volatile
* It's too early to take any constructive view on earnings derating or macro distortions

"We don't think it's time to press the panic button yet. The bulk of the consolidation and correction is behind us for Indian markets," said Pradeep Gupta, Executive Director and Head of Investments – India at Lighthouse Canton, in an interview with Moneycontrol.

According to him, it is too early to take any constructive view on earnings derating or macro distortions that may arise from the ongoing war situation.

He noted that if the conflict persists, it could threaten India on multiple fronts. The country imports more than 80 percent of its crude oil needs, and the INR is highly sensitive to oil price shocks, which further impact the import bill, current account deficit, and inflation trajectory, he said.

Do you see a strong possibility of oil prices rising above $100 per barrel, or do you expect a healthy correction, considering the current situation in the Middle East?

We believe this entirely depends on the magnitude and duration of the conflict. We have already witnessed a sizeable upmove in oil prices. Having said that, the crude market is extremely measured. If oil trade is disrupted for a prolonged period, or if the war spills over into neighbouring countries with oil infrastructure under threat, one may witness such levels but unlikely to sustain for long.

At the same time, any near-term pressure will be partly offset by additional 2 million barrels supply by OPEC. Also, any truce with Iran may mean lifting of sanctions on Iran which mean Iranian oil supply also rises.

What would you prefer to buy in the current market correction?

Indian markets have seen prolonged time and price corrections over the last 18–20 months. The ongoing conflict is likely to keep markets depressed in the near term. However, we believe the overall risk-reward for Indian markets is skewed to the upside.

The current crisis will provide a tactical window to build exposure in quality counters with secular earnings predictability and margin of safety. One must take a constructive view from here on Indian equities.

Is it advisable to stay away from crude-sensitive stocks for now, or should investors wait for tensions to ease before accumulating such stocks?

Usually, higher crude prices tend to benefit upstream oil producers, but this pack is also likely to witness volatility. Oil marketing companies may not be best placed if retail fuel prices are not revised in response to a sizeable flare-up in oil prices, thus affecting margins.

Oil exploration companies can see positive sentiment, while refiners and fuel retailers could face margin compression. Fundamental overlay on these set of opportunities is a must though.

Do you foresee any changes in earnings estimates or economic growth projections in light of the US-Iran tensions?

We don't think it's time to press the panic button yet. The bulk of the consolidation and correction is behind us for Indian markets. It's too early to take any constructive view on earnings derating or macro distortions that may arise from the ongoing war situation. Ongoing conflict is likely to drain overall sentiments even further. As we said, much depends on the magnitude and duration of the conflict for now.

Do you think most of the negative news has already been discounted by equity markets, or is the worst still to come?

It's always difficult to call a top or a price in such situations. However, we don't think there is any structural uncertainty yet. It is a high-risk phase, and markets are likely to remain volatile. Markets will make rapid adjustments depending on how the war unfolds. Overall risk-reward for Indian markets is skewed to the upside for those with the stomach to ride through near-term pain.

Do you see any major threat to the Indian rupee due to the escalating tensions in the Middle East?

There certainly remains a heightened risk of negative developments with respect to the INR, but this is likely to be short-lived, at least on account of the ongoing war. The INR has already weakened past 92 per dollar.

If the conflict persists, it can threaten India on multiple counts. The country imports more than 80% of its crude oil needs, and the INR is highly sensitive to oil price shocks, which further impact the import bill, current account deficit and inflation trajectory. Remittances from Indians working abroad can take a hit in the short term, while FPI outflows from Indian equities can intensify due to risk aversion.

Do you believe the markets need to undergo a meaningful correction for FIIs to return in a significant way?

Not really. While slowing earnings momentum and higher valuations were among the reasons for FIIs to exit Indian markets, there are other considerations as well. A large part of the market has witnessed steep corrections.

Market breadth today depicts extreme pessimism. Much of the excess has been taken out and valuations are back to neutral territory at large. India’s macro led solidity, continued policy push, earning resurgence &amp; recovery momentum remains understated, at least from market lens.

Any further correction, with earnings recovery progressing over the coming quarters, will only make the risk-reward even more compelling. That said, other macro-led events can certainly put a near-term pause on the resumption of FII flows.

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: No need to press the panic button yet; too early to take a constructive view on earnings derating amid the US-Iran war, says Pradeep Gupta

&quot;We don't think it's time to press the panic button yet. The bulk of the consolidation and correction is behind us for Indian markets,&quot; said Pradeep Gupta, Executive Director and Head of Investments – India at Lighthouse Canton, in an interview with Moneycontrol.

According to him, it is too early to take any constructive view on earnings derating or macro distortions that may arise from the ongoing war situation.

He noted that if the conflict persists, it could threaten India on multiple fronts. The country imports more than 80 percent of its crude oil needs, and the INR is highly sensitive to oil price shocks, which further impact the import bill, current account deficit, and inflation trajectory, he said.

Do you see a strong possibility of oil prices rising above $100 per barrel, or do you expect a healthy correction, considering the current situation in the Middle East?

We believe this entirely depends on the magnitude and duration of the conflict. We have already witnessed a sizeable upmove in oil prices. Having said that, the crude market is extremely measured. If oil trade is disrupted for a prolonged period, or if the war spills over into neighbouring countries with oil infrastructure under threat, one may witness such levels but unlikely to sustain for long.

At the same time, any near-term pressure will be partly offset by additional 2 million barrels supply by OPEC. Also, any truce with Iran may mean lifting of sanctions on Iran which mean Iranian oil supply also rises.

What would you prefer to buy in the current market correction?

Indian markets have seen prolonged time and price corrections over the last 18–20 months. The ongoing conflict is likely to keep markets depressed in the near term. However, we believe the overall risk-reward for Indian markets is skewed to the upside.

The current crisis will provide a tactical window to build exposure in quality counters with secular earnings predictability and margin of safety. One must take a constructive view from here on Indian equities.

Is it advisable to stay away from crude-sensitive stocks for now, or should investors wait for tensions to ease before accumulating such stocks?

Usually, higher crude prices tend to benefit upstream oil producers, but this pack is also likely to witness volatility. Oil marketing companies may not be best placed if retail fuel prices are not revised in response to a sizeable flare-up in oil prices, thus affecting margins.

Oil exploration companies can see positive sentiment, while refiners and fuel retailers could face margin compression. Fundamental overlay on these set of opportunities is a must though.

Do you foresee any changes in earnings estimates or economic growth projections in light of the US-Iran tensions?

We don't think it's time to press the panic button yet. The bulk of the consolidation and correction is behind us for Indian markets. It's too early to take any constructive view on earnings derating or macro distortions that may arise from the ongoing war situation. Ongoing conflict is likely to drain overall sentiments even further. As we said, much depends on the magnitude and duration of the conflict for now.

Do you think most of the negative news has already been discounted by equity markets, or is the worst still to come?

It's always difficult to call a top or a price in such situations. However, we don't think there is any structural uncertainty yet. It is a high-risk phase, and markets are likely to remain volatile. Markets will make rapid adjustments depending on how the war unfolds. Overall risk-reward for Indian markets is skewed to the upside for those with the stomach to ride through near-term pain.

Do you see any major threat to the Indian rupee due to the escalating tensions in the Middle East?

There certainly remains a heightened risk of negative developments with respect to the INR, but this is likely to be short-lived, at least on account of the ongoing war. The INR has already weakened past 92 per dollar.

If the conflict persists, it can threaten India on multiple counts. The country imports more than 80% of its crude oil needs, and the INR is highly sensitive to oil price shocks, which further impact the import bill, current account deficit and inflation trajectory. Remittances from Indians working abroad can take a hit in the short term, while FPI outflows from Indian equities can intensify due to risk aversion.

Do you believe the markets need to undergo a meaningful correction for FIIs to return in a significant way?

Not really. While slowing earnings momentum and higher valuations were among the reasons for FIIs to exit Indian markets, there are other considerations as well. A large part of the market has witnessed steep corrections.

Market breadth today depicts extreme pessimism. Much of the excess has been taken out and valuations are back to neutral territory at large. India’s macro led solidity, continued policy push, earning resurgence &amp;amp; recovery momentum remains understated, at least from market lens.

Any further correction, with earnings recovery progressing over the coming quarters, will only make the risk-reward even more compelling. That said, other macro-led events can certainly put a near-term pause on the resumption of FII flows.

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.

9 out of 16 years NIFTY REALTY has given negative returns in March.

Type	R1	R2	R3	PP	S1	S2	S3
Classic	752.70	763.40	769.45	746.65	735.95	729.90	719.20
Fibonacci	753.05	757.00	763.40	746.65	740.25	736.30	729.90
Camarilla	743.54	745.07	746.61	746.65	740.46	738.93	737.39

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