Last Updated on March 27, 2026 6:34 pm by INDIAN AWAAZ
AMN / BIZ DESK
Domestic Benchmark equity indices ended sharply lower on Friday, snapping a two-day winning streak, as global uncertainties and rising crude oil prices dampened investor sentiment.
The S&P BSE Sensex plunged 1,690.23 points (2.25%) to close at 73,583.22, while the Nifty 50 fell 488.85 points (2.09%) to settle at 22,819.60, slipping below the crucial 22,850 mark. The downturn follows a strong two-session rally in which both indices had gained over 3.5%.
Sector-wise Performance
All major sectoral indices on the NSE closed in the red, reflecting widespread selling pressure:
- Banking & Financials: Led the decline, with PSU banks and private lenders witnessing heavy selling amid continued foreign institutional investor (FII) outflows and rising bond yields.
- Auto: Stocks fell sharply due to concerns over rising input costs linked to elevated crude oil prices.
- Realty: Declined significantly as higher interest rates and bond yields weighed on demand outlook.
- Energy & Oil-linked Stocks: Came under pressure despite government intervention, as crude prices remained elevated globally.
- IT & Tech: Tracked weakness in global tech stocks, particularly following overnight declines on Wall Street.
- Capital Goods & Infrastructure: Saw moderate declines despite order wins by key companies, indicating cautious sentiment.
Key Index Drags
Heavyweight stocks such as Reliance Industries, HDFC Bank, and ICICI Bank were among the top contributors to the decline, dragging the indices lower.
Broader Markets & Volatility
The broader market also mirrored the weakness:
- Mid-cap index fell 2.18%
- Small-cap index declined 1.82%
Market breadth remained decisively negative, with declining stocks far outnumbering gainers. Meanwhile, the India VIX surged 8.77% to 26.80, indicating heightened market volatility.
Macro & Global Cues
Investor sentiment was weighed down by multiple global and domestic factors:
- Persistent geopolitical tensions in the Middle East, particularly involving the United States and Iran
- Surge in Brent crude prices above $110 per barrel
- Rise in US bond yields and a stronger dollar
- Continued FII selling in Indian equities
Global markets also remained under pressure, with European equities declining and US futures संकेत pointing to a weak opening. Asian markets ended mixed amid lingering uncertainty over the geopolitical situation.
Currency, Commodities & Rates
- The Indian rupee weakened to a record low, breaching the 94 mark against the US dollar
- India’s 10-year bond yield rose to 6.934%
- Gold prices surged 1.64% amid safe-haven demand
- US 10-year bond yield climbed to 4.461%
- Dollar Index hovered near the 100 mark
Government Intervention
In a bid to cushion the impact of rising crude prices, the government reduced excise duty on fuels. Petrol duty was cut to ₹3 per litre from ₹13, while diesel duty was fully removed. The move aims to stabilise domestic fuel prices and ease inflationary pressures.
Stocks in Focus
- Tata Motors declined following production disruptions at its UK arm Jaguar Land Rover
- Larsen & Toubro slipped despite securing significant project orders
- ACME Solar Holdings gained on commissioning additional wind capacity
- Hilton Metal Forging surged after securing a major defence order
- Sula Vineyards declined after announcing an acquisition deal
Disclaimer: This report is based on publicly available market data and secondary sources. Certain geopolitical developments and statements, particularly regarding ongoing tensions between the United States and Iran, are subject to change and may not be independently verified. The report is for informational purposes only and should not be construed as investment advice.