Sensex and Nifty plunged nearly 2% as rising crude oil prices, weak global cues and escalating West Asia tensions triggered heavy selling. Foreign fund outflows and a weaker rupee added pressure. Analysts recommend Apollo Pipes, Aurobindo Pharma and Tata Steel for potential short-term gains.
Indian stocks extended losses as the Middle East conflict pushed crude prices near $120, raising inflation and growth concerns. Analysts say pharma and IT buying offered some support, while markets remain volatile with key Nifty support seen around 23,700.
Sebi chief Tuhin Kanta Pandey urged investors not to panic amid global market turbulence caused by the US-Iran conflict. He highlighted India’s strong fundamentals, Nifty’s long-term resilience and the growing investor base supporting the country’s expanding capital market ecosystem.
Indian markets are set to open lower as weak global cues, falling US stocks and rising crude prices trigger risk aversion. Escalating Middle East tensions and supply concerns push oil higher, increasing inflation fears. Analysts expect volatility with Nifty likely trading within a cautious range.
IPO-bound Flipkart has shifted its domicile to India, having secured government nod for an internal restructuring that now makes Flipkart Internet the holding entity of the Group.
The NSE is set to appoint merchant bankers in March for its long-awaited IPO, reviving plans for a potential $2.5 billion offer for sale after years of regulatory delays and governance concerns.
Aluminium prices hit four-year highs on Monday as fears of prolonged shipping disruptions in the Middle East due to the U.S.-Israeli war against Iran fuelled concerns about supplies of the metal.
MF Performance
Major Indices
