Nifty extends loss to 2nd day, below 22,400 Sensex plunges over 1,500 pts, down 2% Broad-based selloff seen; india vix jumps 3% Market breadth worsens; advance-decline ratio at 1:4 All sectors in red; banking index lead decline 46 nifty stocks in red; 4 advance ahead Nifty 50 gainers: hindalco, coal india, ong Nifty 50 losers: bajaj twins, sbi, jio financial
West Asia tensions have entered their fifth week with no signs of de-escalation, as US President Trump told the FT he could “take the oil in Iran,” while Iran’s parliament speaker accused him of planning ground attacks. Asian markets are under pressure with South Korea leading declines; Japan’s Nikkei 225 has fallen 4% and Hong Kong’s Hang Seng is down over 1.5%. US futures are also कमजोर at the start of a holiday-shortened week, with Dow futures down 200 points, following Friday’s sell-off where the Dow and S&P 500 dropped 1.5% each and the Nasdaq slipped 2%. US 10-year yields remain steady near 4.4%. Commodities are surging, with Brent crude up 3% at $115 per barrel and WTI rising 3% to $102, while gold has jumped 3% to $4,536 an ounce and silver is up 4%. FIIs were net sellers of equities worth ₹4,367 crore on Friday, though they also reported net buying of ₹3,566 crore, and GIFT Nifty signals a weak start for Indian markets.
Gold declined, erasing its first weekly gain since the war in the Middle East began, as the Iran-backed Houthi militant group joined the conflict and more US military personnel moved into the region.
Broader markets also witnessed sharp declines, with the Nifty Midcap and Smallcap indices shedding around 2.6 percent each. All the sectors ended in the red with auto, FMCG, consumer durables, capital goods, telecom, realty, private bank, PSU bank down 2-4%. Among the Nifty constituents, major losers included Bajaj Finance, Axis Bank, Bajaj Finserv, State Bank of India, and InterGlobe Aviation. On the other hand, gainers were Hindalco Industries, Coal India, ONGC, and Power Grid Corporation of India.
While the Nifty trades at around 17x 12-month forward EPS, the risk of EPS downgrades has increased; hence, valuations remain expensive despite the correction, said Jitendra Gohil.
The Nifty 50 is expected to face resistance at 23,000–23,200, followed by 23,500. However, immediate support is placed at 22,600, followed by the crucial support of 22,450. Meanwhile, the 53,000–53,300 range is likely to act as resistance for the Bank Nifty, followed by 54,000–54,200 as a crucial hurdle.
In the truncated week starting from March 30, the market is expected to remain in control of bears with majorly focussing on West Asia war, oil prices, FIIs mood and Indian rupee movement against the US dollar.
In the upcoming monthly derivatives contracts expiry session, the previous day’s lows near 22,600 and 22,450 are expected to be at risk; below these levels, the critical support stands at 22,300. If the index decisively breaks this level, a fall toward 21,700 cannot be ruled out.
No resolution to West Asia crisis can lead to earnings downgrade which eventually will remove the cushion on valuations which was created due to fall in stock prices, said Siddarth Bhamre.
Given the current price structure and prevailing trend, Sudeep Shah continues to recommend a “sell on rise” strategy, as any short term pullbacks are likely to remain corrective in nature rather than mark the beginning of a sustainable trend reversal.
The Indian rupee 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.
Post-war rebuilding in the Middle East can unlock significant infrastructure opportunities, particularly through large-scale government-led reconstruction, said TCG AMC's Shahzad Madon.
Stock exchanges will remain closed next week for Shri Mahavir Jayanti and Good Friday, leading to a shortened trading week.
The India VIX spiked 8.8 percent to 26.8 and approached Monday’s high, signalling major discomfort for bulls. The risk for bulls may increase further if it rises sharply from current levels.
Sensex, Nifty declined about 9.5 percent since the US-Israeli conflict involving Iran began on February 28.
HDFC Bank slid 3.1% in its fifth consecutive weekly drop, marking its longest losing run in six years
For the week, both the BSE Sensex and Nifty50 ended 1.2% lower.
Markets slip again as Nifty falls below 23,000, marking its fifth straight weekly loss. Broad-based selling hits auto, PSU banks, and midcaps, while IT stocks offer limited support. Catch Lovisha Darad in conversation with Vishnu Kant Upadhyay, Assistant Vice President – Research & Advisory at Master Capital Services Limited and Kranthi Bathini - Equity strategist at WealthMills securities pvt ltd
Global markets remain volatile amid rising Iran tensions and mixed signals from the US. Trump delays strike decision by 10 days as talks continue, while oil stays above $105. Wall Street tumbles, Asian markets trade weak, and GIFT Nifty signals a gap-down start. Can Nifty hold 23,000?
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 "very well" and announced he would pause attacks on the country's energy plants for 10 days.
With continuous absorption from DIIs and domestic flows, Robin Arya does not see a classic “crash” or a full-blown panic playing out at the index level.
The 23,000–22,900 zone is expected to act as crucial support in the upcoming sessions, as a fall below this level could drag the Nifty 50 towards Monday’s low. On the higher side, the 23,500–23,600 zone may act as a hurdle.
Nifty needs to decisively surpass and sustain above 23,850 to negate the lower high–lower low formation for a bullish confirmation. Until then, consolidation and range-bound trading may continue, with immediate support placed in the 23,000–22,900 zone.
Oil prices rose to around USD 105 per barrel after Iran denied any talks with the US.
Oil can certainly spike on supply fears, but unless there is a prolonged and meaningful disruption to physical supplies, prices may not sustain at levels that derail global growth, Gaurav Didwania of Qode Advisors said.