Indian equity markets saw a minor recovery on Monday, but experts warn the rally might be short-lived due to persistent volatility. Analysts suggest avoiding aggressive long positions as the market trend remains negative, with key support levels identified at 23,500. While auto stocks like TVS Motor face pressure, the IT sector shows relative strength, with LTIMindtree being a favored pick.
March has been brutal for Indian markets, with the Nifty plunging 5.3% in just six trading sessions amid escalating US-Israel-Iran tensions. Crude oil surged nearly 29% in a single day, fueling volatility. Technical analysts say the Nifty has broken key support at 24,050, signaling strong downside momentum, while a meaningful reversal remains unlikely in the near term.
Shares of Meesho fell 10% to hit the lower circuit after the company revealed a Rs 1,500-crore tax demand from the Income Tax Department, nearly half of its Q3 operating revenue. The demand relates to the 2023-24 assessment year. Meesho said it disagrees with the order and is evaluating legal and factual grounds to contest it.
Despite selling Rs 74,700 crore in FY26, FIIs steadily increased stakes in 58 Indian stocks above Rs 3,000 crore market cap. Fourteen delivered 50–1,650% returns, with five becoming multibaggers, highlighting selective institutional confidence and strong stock-specific performance across sectors.
Greenko Energies Pvt. is exploring a potential initial public offering in Mumbai. The company aims to raise up to $1 billion. This move could test investor interest in renewable energy shares. The company is backed by GIC Pte. and Abu Dhabi Investment Authority. Discussions with bankers are underway for a possible share sale this year. Details are still being finalized.
European shares slumped to their lowest in over two months on Monday, as surging oil prices exacerbated inflation worries with the U.S.- Israeli war on Iran showing no signs of slowing down.
Shares of IT companies outperformed the broader market on Monday, with Wipro, LTIMindtree, and Persistent Systems rising up to 1% despite a sharp selloff that wiped out over Rs 12.39 lakh crore from BSE-listed companies’ market capitalisation. Wipro led gains, while Infosys and TCS saw modest declines, less severe than the broader market drop.
Global markets are grappling with a surge in crude oil prices, with Brent crude exceeding $100. Strategists note that markets are already digesting this shock, impacting Asian markets significantly. India, however, may face less downside due to its recent economic efficiency and ability to purchase Russian oil, though the duration of the conflict remains a key factor.
The surge in crude oil prices triggered a sharp selloff in Indian equities on Monday. The benchmark BSE Sensex fell nearly 2,400 points shortly after opening, while the Nifty 50 dropped more than 700 points, before recovering some of the losses. All sectoral indices were trading in the red.
Market turbulence offers chances to buy. Vikas Khemani of Carnelian Asset Management sees opportunity in corrections. He highlights banks, consumer sectors, and pharmaceuticals as attractive. PSU banks also present value. Khemani advises a long-term view, noting Indian economic fundamentals are strong. Short-term price drops in good companies are chances to invest.
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