India’s stock market opened little changed today as investors remained wary of the impact of higher crude oil prices amid the prolonged Iran war.
At the opening bell, the 30-share S&P BSE Sensex was down 0.08% at 75,435.94, while the broader NSE Nifty 50 was down 0.06% at 23,393.10. Nine out of 16 major sectors were in the red. Broader small-caps and mid-caps were flat.
“The sharp 257-point surge in Nifty 50 yesterday (Monday, March 16, 2026) was mainly due to short-covering from the oversold zone. The surge is unlikely to be sustained given the massive selling by FIIs,” VK Vijayakumar, chief investment strategist at Mumbai-based Geojit Investments Ltd., said in an email.
“This FII selloff will continue in the near term as other markets like South Korea and Taiwan are providing better returns to FIIs. More importantly, earnings growth prospects in these markets look much better than India. In short, continued FII selling is likely to weigh on the market in the near term.”
key indicators
Brent crude is hovering around $103 a barrel due to supply concerns, the Strait of Hormuz is mostly closed and US allies have refused to send warships to help tankers at the key chokepoint that handles about 20% of global oil supply.
Nifty and Sensex have fallen about 7% so far this month as investors assess the fallout of the US-Israel war on Iran. Brokerage firms Citi and Nomura on Monday lowered their year-end Nifty targets, citing the impact of surging crude oil prices on India’s growth and corporate earnings.
How much worth of shares did foreign investors sell? ₹The company earned Rs 9,366 crore on Monday, the twelfth consecutive session of sales, provisional data showed. This month the outflow has reached $6.9 billion.
Stocks worth watching today
- Reliance Industries signed a binding agreement with South Korea’s Samsung C&T to supply green ammonia for 15 years in a deal worth over $3 billion.
- Tata Motors has announced an increase in prices of its commercial vehicles by up to 1.5% from April 1, citing higher input costs.
- Sagar Cements to sell 7.24% stake in Andhra Cements at floor price through offer for sale ₹52 per share.
- Alkyl Amines has suspended manufacturing of methylamines and ethylamines at three locations due to non-availability of ammonia amid the Iran war.
