Indian markets ended FY26 in the red amid global uncertainty and domestic pressures, with Nifty falling over 5% and Sensex declining 7%. Persistent foreign outflows, weak earnings, high valuations, and a weakening rupee kept sentiment subdued, while escalating tensions involving Iran further worsened the outlook by driving up energy prices and dampening hopes of US rate cuts.
European shares were little changed on Monday ahead of local inflation data, while investors continued to monitor developments in the Middle East war that has upended global markets.
Gold prices saw a relief rally on Monday, gaining Rs 2,000 per 10 gram after a massive 27% correction from lifetime highs. While geopolitical tensions offer support, rising crude prices and delayed US Fed rate cuts suggest only a limited recovery rather than a fresh breakaway rally for the metal.
The Indian rupee slipped past 95 against the US dollar, driven by structural imbalances, foreign outflows, and high oil prices. RBI-imposed limits on banks’ forex positions aim to curb speculation and arbitrage. A further slide toward 100 could pressure import-reliant sectors and financial markets, while exporters like IT and pharma may benefit. Market experts warn the rupee remains under sustained stress.
Amid global market turmoil over the Middle East conflict, Nvidia trades at its cheapest price-to-earnings multiple since before the AI boom. Shares have fallen nearly 20% from October highs, reflecting broader investor caution. While the drop may signal a bargain, elevated oil prices, inflation fears, and potential interest-rate hikes add uncertainty to the AI-driven rally.
National Stock Exchange of India has taken a key step toward its IPO by issuing an offer-for-sale (OFS) letter to shareholders, formally initiating the listing process. The entire issue will be through OFS, with eligibility limited to those holding shares since June 15, 2025.
Indian stock markets will observe a holiday on March 31 for Shri Mahavir Jayanti. This marks the first of two market holidays this week. The Multi-Commodity Exchange of India will have a partial closure. The National Commodity & Derivatives Exchange Limited will be closed. Markets will also shut on April 3 for Good Friday.
South Korean financial markets experienced a significant downturn on Monday. The main stock index, KOSPI, dropped by almost 3%. The national currency, the won, reached its lowest point in 17 years against the dollar. These declines were driven by concerns about the escalating conflict in the Middle East. Investors reacted with caution to the ongoing geopolitical tensions.
Australian shares declined on Monday. Banks and technology stocks led the fall. High energy prices fueled inflation worries. Investors reduced risk appetite. The S&P/ASX 200 index closed lower. Global markets faced pressure after weekend attacks. Brent crude prices soared significantly this month. Westpac anticipates further interest rate hikes.
CMPDI shares listed at a 7% discount amid weak demand despite strong fundamentals and institutional interest. Analysts remain cautious on near-term upside due to muted retail participation and broader market sentiment. While valuations appear reasonable, dependence on Coal India and sector risks remain key concerns for investors.
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