Last Updated on March 30, 2026 5:16 pm by BIZNAMA NEWS
AMN BIZ DESK
Domestic equity benchmarks extended losses for a second straight session on Monday, with sharp selling pressure gripping Dalal Street amid escalating geopolitical tensions in the Middle East and a spike in crude oil prices.
The S&P BSE Sensex tumbled 1,635.67 points, or 2.22%, to close at 71,947.55, while the Nifty 50 fell 488.20 points, or 2.14%, to settle at 22,331.40—slipping below the crucial 22,350 mark. Over the past two sessions, the Sensex has dropped 4.41% and the Nifty has shed 4.18%.
Investor sentiment remained fragile as the ongoing Iran–U.S.–Israel conflict intensified, pushing crude oil prices higher and triggering risk-off behaviour across global markets.
Broader markets fared worse than frontline indices, with the BSE MidCap Index declining 2.51% and the BSE SmallCap Index slipping 2.57%. Market breadth remained decisively negative.
Volatility surged, with the India VIX rising 4.04% to 27.89, reflecting heightened investor anxiety.
Sectorally, defensive pockets such as FMCG, IT and pharma stocks outperformed the broader market, though still ended in the red. On the other hand, banking and real estate stocks bore the brunt of the sell-off, with PSU banks, private banks and realty indices leading losses.
Markets will remain closed on March 31 on account of Mahavir Jayanti.
Economic and Market Indicators
Industrial output showed modest improvement, with the Index of Industrial Production growing 5.2% in February 2026, up from 4.8% in January. Manufacturing led the expansion with 6% growth, followed by mining and electricity.
In the bond market, the yield on India’s 10-year benchmark government security rose to 6.998%. The rupee recovered slightly against the US dollar, hovering at 94.78 after touching a record low earlier in the session.
Commodity trends remained firm, with gold prices rising and Brent crude climbing to $115.25 per barrel, further stoking inflation concerns.
Global Cues Weigh
Global markets remained volatile. Asian equities ended lower as the Middle East conflict entered its fifth week, while European markets traded cautiously higher.
In the US, Wall Street ended sharply lower on Friday, with the Dow Jones Industrial Average entering correction territory. Weak global cues continued to spill over into Indian markets.
Meanwhile, policy discussions at the Bank of Japan संकेत possible rate hikes as rising oil prices add to inflationary pressures.
Geopolitical risks escalated further after Yemen’s Houthi forces reportedly launched missile strikes targeting Israel, signalling a widening of the conflict that began with US and Israeli strikes on Iran in late February.
Market participants are expected to remain cautious in the near term, tracking geopolitical developments, crude oil movements and global cues. Elevated volatility may persist as investors reassess risk amid uncertainty in global energy markets.
