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Informist, Monday, Mar. 30, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Indices may open dn as crude rises on widening W Asia conflict

 

MUMBAI--0815 IST--Benchmark equity indices are expected to open sharply lower on the last trading session of March, as oil prices extended gains due to rising concerns about supply disruptions amid Yemeni Houthis launching their first attacks on Israel over the weekend, widening the conflict in West Asia. Additionally, US President Donald Trump is seeking to take control over Iran's oil sector and seize its export hub of Kharg Island, according to reports. At 0809 IST, Brent Crude Oil futures traded 3.6% higher at $116.61 per barrel. 

 

"The conflict is no longer concentrated in the Persian Gulf and around the Strait ‌of Hormuz, but now extends into the Red Sea and the Bab el-Mandeb — one of the world's most crucial chokepoints for crude and refined product flows," Reuters reported, citing analysts at JP Morgan. In an interview with the Financial Times on Sunday, Trump said his "preference would be to take the oil," comparing it to the US military operation in Venezuela earlier this year when the US effectively gained control of the country's oil industry after the capture of its leader Nicols Maduro.

 

The Wall Street Journal reported, citing US officials, that Trump was weighing a military operation to extract nearly 1,000 pounds of uranium from Iran, a complex and risky mission that would likely put American forces inside the country for days or longer. However, Trump hasn't made a decision on whether to give the order, the officials said. Adding to the tensions, the Washington Post Saturday reported that the Pentagon was preparing for weeks of potential ground conflict in Iran as thousands of US troops arrive in the region. It was unclear whether Trump would approve all, some or none of the Pentagon's plans, the report said. Following this, Iran on Sunday said it was ready to face US troops on the ground, accusing Washington of secretly planning an assault while seeking negotiations to end the war.

 

Higher oil prices amid supply disruptions and the escalating conflict in West Asia have spurred concerns about higher inflation and interest rate hikes by central banks across the globe. Policymakers at the Bank of Japan discussed the need for further rate hikes at their March meeting, as rising oil prices linked to the West Asia conflict add to inflation pressures, CNBC reported, citing a summary of opinions released Monday. 

 

In the previous week, the Nifty 50 closed below the crucial 23000 points level, which serves as both a technical and psychological support, indicating underlying weakness, Sundar Kewat, technical and derivative analyst at Ashika Institutional Equities, said. The near-term outlook remains bearish as the index has failed to sustain at higher levels, suggesting continued selling pressure on rallies. "Going forward, the index is likely to drift lower towards the 22000 (points) mark, which stands as the next important support zone. On the upside, immediate resistance is placed at 23000(points), followed by a stronger hurdle near 23450 (points). Any pullback towards these levels is expected to attract fresh selling interest, reinforcing the sell-on-rise strategy in the current market setup," he said. (Arya S. Biju)

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Equity Alert: US indices dn for 5th week Fri as West Asia war continues

 

MUMBAI--0747 IST--Pressure mounted on the Wall Street as all the major indices ended sharply lower Friday. The blue-chip Dow Jones Industrial Average entered the correction zone as it declined more than 10% from its peak. Meanwhile, the technology-heavy Nasdaq Composite had entered the correction zone Thursday and remained so during Friday's session. Shares of all the Magnificent Seven stocks fell Friday with those of Meta and Amazon down over 4?ch.

 

All the three major indices in the US ended lower for the fifth straight week on Friday. Sentiment was weak due to continued hostilities between the US and Iran and high Brent crude oil prices. Crude was hovering around $115 per barrel, up 2.5% from Friday. US futures declined after crude oil futures rose more from last week. At 0742 IST, the E-Mini Dow futures of June was down 0.5%.

 

Yemen's Houthis joined the offensive in West Asia by striking a missile against Israel. The US President Donald Trump said the Pentagon may be planning ground operations in Iran, according to reports. Trump may be considering an operation to extract 1,000 pounds of uranium from Iran, The Wall Street Journal reported.

 

Consumer sentiment report by the University of Michigan came in below the Street's expectations. Consumer Sentiment Index fell to its lowest level since December to 53.3 in March from 56.6 in February. Analysts had pencilled in the March figure to be at 54. Further, expectations for inflation over the next 12 months rose to 3.8% in March from 3.4% in February.

 

Following are the closing levels of US indices Friday:

 

Index	Level	Change in %
S&P 500	6368.85	(-)1.67
NASDAQ Composite	20948.357	(-)2.15
Dow Jones Industrial Average	45166.64	(-)1.73

 

(Ruchira Kagita)

 

End

 

US$1 = INR 94.81

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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