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Informist, Monday, Mar. 23, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Indices may open dn on negative global cues, volatile oil price

 

MUMBAI--0835 IST--Benchmark stock indices are expected to open sharply lower Monday, tracking their Asian peers, which fell in early trade after the US and Iran threatened to intensify hostilities as the war enters its fourth week. Oil prices remained volatile in early trade, with the May futures contract of Brent Crude Oil trading slightly higher than the previous close at $112.36 per barrel at 0815 IST. 

 

Over the weekend, US President Donald Trump issued new warnings to Iran over the Strait of Hormuz. He threatened to "obliterate" Iran's power plants if it did not fully reopen the Strait of Hormuz within 48 hours. This was barely a day after he talked about "winding down" the war, Reuters reported. Following this, Iran warned that it would attack US-linked infrastructure, including energy and desalination facilities in the Gulf region, if Trump carried out his threat.

 

Additionally, persistent selling of domestic equities by foreign institutional investors continues to dent the market sentiment. The volume and intensity of foreign portfolio investors' selling increased in recent days when the West Asia conflict escalated, V.K. Vijayakumar, chief investment strategist at Geojit Investments, said in a note Sunday. They were net sellers on all trading days in March and had net sold domestic equities worth around INR 882 billion so far in the month. 

 

At 0805 IST, the March futures contract of the Gift Nifty traded at 22799 points, up over 300 points from the Nifty 50's previous close. The Gift Nifty is indicating another round of gap-down opening for the domestic market, Vipin Kumaar, senior technical and derivatives analyst at Globe Capital Market, said. "The technical chart structure is weak and a sustained trading below 22800 (points) could drag it (Nifty 50) towards 22000-21800 spot levels in the immediate near term. On the flip side, the 23400-23600 spot zone will act as an immediate resistance on the higher side," he said. 

 

Shares of domestic pharmaceutical companies are expected to be in focus Monday after several of them announced the launch of generic versions of Semaglutide in lower prices upon expiry of the drug's patent in India on Friday. (Arya S. Biju)

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Equity Alert: Asian indices tumble amid sell-off due to US-Iran war

 

MUMBAI--0830 IST--Asian indices tumbled in early trade with South Korea's Kospi falling over 5% due to sell-off stemming from a de-risking sentiment as the US-Iran war intensified. On Monday, crude oil prices climbed past $112 per barrel despite a brief fall in 

early trade. At 0822 IST, May futures of Brent Crude oil were at 112.65 per barrel. Crude oil prices have climbed over 55% from their pre-war levels. The surge in oil prices has hit Asian equities hard as most countries in the region are heavily dependent on imports from West Asia.

 

Japan's Nikkei 225 and the broader-market Topix slid over 3%. MSCI's broadest index of Asia-Pacific shares outside Japan also fell 3% during early trade, Reuters reported.

 

Over the weekend, US President Donald Trump threatened to attack Iran's electricity grid if the country did not re-open the key trade route of the Strait of Hormuz within 48 hours. In response, Iran Sunday said it would attack energy and water facilities in the Gulf if the US made good on its threat. The Strait of Hormuz, which controls 20% of global oil shipping, has remained shut since the start of the US-Iran war on Feb. 28. 

 

"The war could still go on for many weeks yet and see oil prices rise say to $150 a barrel...and the steady destruction of energy infrastructure means it will take longer to get supply back to normal," Shane Oliver, head of investment strategy at fund manager AMP, told Reuters.

 

Further, analysts at HSBC highlighted Singapore jet fuel was up 175% this year to a multi-decade high, while Asian liquefied natural gas had climbed 130%, Reuters reported. Rising energy has seen markets prepare for an inflationary environment and price in rate hikes across most developed nations, according to the Reuters report.

 

Following were the levels of major Asian indices at 0813 IST:

 

Index	Level	Change in %
CSI 300 Index	4499.51	(-)1.48
Hang Seng Index	24473.71	(-)3.18
Nikkei 225 Day	51582.23	(-)3.35
TOPIX FIRST SECTION	3499.26	(-)3.05
KOSPI	5488.48	(-)5.06
FTSE Singapore Strait Times	4852.18	(-)1.95
S&P/ASX 200 Index	8387.90	(-)0.48

 

(Shruti Nair)

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Equity Alert: US indices end down Friday as hostilities in West Asia continue

 

MUMBAI--0722 IST--Major US stock indices closed in the red on Friday as tensions mount in the US-Iran war. Over the weekend, both countries traded threats as the conflict in West Asia enters its fourth week. Futures of major US indices were nearly flat on Sunday, while oil prices continued their climb with the May futures of Brent Crude oil touching $112 per barrel.

 

Over the weekend, US President Donald Trump gave Iran a 48-hour deadline to reopen the Strait of Hormuz or risk an attack on Iranian power plants, CNBC reported. The Strait of Hormuz is a key shipping route and controls 20% of global oil shipping. The trade route has been shut since the beginning of the conflict in West Asia, leading to a surge in crude oil prices. At 0722 IST, May futures of Brent Crude oil were at 111.90 per barrel, up nearly 54% since before the US and Israel attacked Iran. In response to Trump's threats, Iran said it would attack US energy and desalination facilities among others in the Gulf, if its power infrastructure was attacked, CNBC reported.

 

"The risk-off sentiment could worsen substantially this week, with the first visible macro effects in a deluge of global PMI (purchasing managers index) data. Portfolio de-risking could continue, making cash a viable asset again," Ben Emons, chief investment officer and founder of Fed Watch Advisors, told CNBC.

 

Market participants will keep an eye on the US flash purchasing managers index, due Tuesday. They will also watch out for support levels of major indices, as the S&P 500 last week breached below its 200-day moving average for the first time since May 2025, according to CNBC.

 

Following are the closing levels of US indices Friday:

 

Index	Level	Change in %
S&P 500	6506.48	(-)1.51
NASDAQ Composite	21647.61	(-)2.01
Dow Jones Industrial Average	45577.47	(-)0.96

 

(Shruti Nair)

 

US$1 = INR 93.71

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Avishek Dutta

 

All prices from National Stock Exchange, unless otherwise specified.

All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.

All times are Indian Standard Time.

 

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