Market News
Stay updated with the latest market trends, earnings, and economic indicators.
INR plunges on boiling oil prices; DXY above 99.50
The Indian rupee plunged sharply in opening trades on Monday tracking a firm dollar overseas coupled with boiling international crude oil prices. WTI crude oil futures soared above $100 per barrel for the first time in three and half years amid escalating tensions in Middle East showing no signs of abating. Middle Eastern producers cut output as the Strait of Hormuz remains closed due to the Iran war. WTI price hit $115.49 per barrel, the highest since June 2022. INR opened at Rs 92.22 per dollar and hit a low of 92.34 so far during the day as compared to Fridays close at 91.82. Dollar is soaring at three month higher well above 99.50 mark. Negative cues from equities amid sharp sell off by foreign investors is also weighing on the local unit. Indian shares nosedived on Monday morning. The benchmark BSE Sensex was down 2,192 points, or 2.8 percent, at 76,726 in early trade while the broader NSE Nifty index slumped 665 points, or 2.7 percent, to 23,782.
Stocks to buy or sell: Dharmesh Shah of ICICI Sec suggests buying Astra Microwave Products shares on March 9
Escalating crude oil prices are set to impact India's economy and stock market, leading to inflation worries and a weaker rupee. The Nifty 50 is expected to decline as geopolitical tensions rise, with a notable shift towards safer investments observed in the market.
Stocks to watch: PB Fintech, Kwality Walls, Tata Power among 10 shares in focus on Monday
Stock market today: The Indian stock market benchmark indices, the BSE Sensex and Nifty 50, are likely to open sharply lower on Monday, tracking a global market sell-off as crude oil prices surged
Nifty 50, Sensex today: What to expect from Indian stock market in trade on March 9 after jump in crude oil prices
Nifty 50, Sensex today: The trends on Gift Nifty also indicate a gap-down start for the Indian benchmark index. The Gift Nifty was trading around 23,800 level, a discount of nearly 745 points from the Nifty futures’ previous close.
Markets in ‘fear phase’, deploy money in autos, banks, capital goods: AlfAccurate’s Rajesh Kothari
The sharp correction in Indian equities triggered by fears of a prolonged war in West Asia should be viewed as a buying opportunity, according to Rajesh Kothari, Managing Director at AlfAccurate Advisors.Benchmark indices declined nearly 3% this week — their steepest weekly fall in over a year — as rising crude oil prices and geopolitical tensions rattled investor sentiment. Financial stocks led the decline, with the Nifty Bank logging its biggest weekly drop in 14 months.However, Kothari believes the selloff reflects sentiment rather than a deterioration in underlying economic fundamentals.“We are currently in a fearful phase of the market. When others are fearful, that’s usually the time to be greedy,” Kothari told CNBC-TV18, advising investors to deploy money gradually over the next 30–60 days rather than attempting to time the market.He emphasised that the outcome of the West Asia conflict is less important for markets than its duration. While companies with exposure to the Middle East could face short-term uncertainty, the broader domestic growth story remains intact.Against this backdrop, Kothari highlighted four sectors that investors should focus on.Autos remain a key bet, supported by strong demand trends and low inventory levels across the industry. February sales data was robust, and leading automakers have reported healthy growth, signalling sustained momentum.Banking and financials are another preferred sector. Credit growth has improved to around 13% from about 8.5% earlier, while asset quality remains strong. According to Kothari, the sector could become a “strong buy on declines” if crude-driven inflation concerns ease.He also sees opportunities in capital goods, particularly companies reporting strong order inflows as India’s investment cycle picks up.Lastly, hospitals stand out as a defensive play. The sector remains largely insulated from geopolitical risks and technological disruptions such as artificial intelligence.“These are strong India stori
Vinay Rajani of HDFC Sec suggests HDFC Gold ETF, Oil India shares to buy in the near-term
The Indian stock market fell significantly on March 2, with the Sensex down 2,743 points and the Nifty 50 plummeting over 500 points due to geopolitical tensions and foreign capital withdrawals, resulting in a loss of ₹8 lakh crore in market capitalization.
Watch | Sanjay Parekh on where he sees value in banks, IT, cement and telecom stocks
Sohum Asset Managers’ Founder & CIO, Sanjay Parekh, says markets look sluggish despite improving macro conditions, with Q3 Nifty earnings near 8–9%. He sees recovery in CVs (Ashok Leyland), credit growth at ICICI Bank and gradual picka a up in cement and steel. Portfolio stays domestic-focused: overweight telecom, NBFCs, industrials, cement, utilities, ports and logistics; underweight oil & gas and banks, zero FMCG. Watching IT names like Infosys and TCS, mid-cap tech (Persistent, Coforge, Mastek), defence HAL, quick commerce Zomato and Swiggy, and capital goods L&T, JSW Energy.
Top Gainers & Losers on Feb 27: Vishal Mega Mart, Angel One, Reliance Power, BSE, Vedanta among top losers
Benchmark indices faced sharp losses in February's final trading session, with Nifty 50 down 1.3% and Sensex down 1.14%. Rising crude oil prices and US-Iran talks uncertainty weighed on sentiment, leading to a third consecutive month of losses.
INR tumbles near three-week low amid surging international oil prices, firm dollar overseas
The Indian rupee plunged 31 paise to settle at 90.99 (provisional) against the US dollar on Friday, tracking a strong American currency against major currencies and higher crude oil prices amid intensifying US-Iran tensions. Positive momentum in domestic equity markets failed to support the Indian unit. Indian shares bounced back on Friday after falling sharply in the previous session on rising geopolitical tensions and uncertainty over the Federal Reserve's rate path. The benchmark BSE Sensex jumped 316.57 points, or 0.38 percent, to 82,814.71. The broader NSE Nifty index surged 116.90 points, or 0.46 percent, to 25,571.25, with metal and banking stocks leading the surge.
Rajesh Palviya of Axis Sec suggests ONGC, RBL Bank, Sammaan Capital shares to buy today
Domestic benchmark indices showed little change after a prior decline, amid rising oil prices due to US-Iran tensions. Nifty 50 rose 0.03% to 25,465 while BSE Sensex fell 0.07% to 82,467.7. Analysts attribute weakness to global uncertainties and geopolitical risks.
Sensex, Nifty trade on lacklustre note as IT sell-off weighs on market
Indian benchmark indices, Nifty and BSE Sensex, opened lower on Friday, continuing the previous day's decline due to ongoing selling in IT stocks. While the Nifty traded flat, the Sensex slipped, with IT and pharma sectors experiencing pressure. ONGC, BEL, and L&T were among the top gainers.
Bank Nifty falls over 2% as crude-driven inflation worries weigh; ICICI Bank, HDFC Bank among top Nifty losers
The weakness in banking stocks reflects macro concerns arising from surging crude oil prices amid the escalation of the Middle East conflict. Elevated crude oil prices have reignited inflationary concerns, stoking fears of tighter monetary policies and delay in interest-rate cuts by central banks.