India’s stock market opened little changed today, with investors remaining wary of the impact of elevated crude oil prices amid a prolonged Iran war.
At the opening bell, the 30-share S&P BSE Sensex fell 0.08% to 75,435.94 points even as the wider NSE Nifty 50 was down 0.06% at 23,393.10. Nine out of the 16 major sectors were in the red. The broader small-caps and mid-caps were flat.
“Nifty 50’s sharp bounce of 257 points yesterday (Monday, 16 March 2026) was triggered mainly by short-covering from oversold territory. This bounce back is unlikely to sustain, given the massive selling by FIIs…,” V.K. Vijayakumar, chief investment strategist at Mumbai-based Geojit Investments Ltd., said in an email.
“In the near-term this FII selling will continue since other markets like South Korea and Taiwan are giving better returns to FIIs. More importantly, the earnings growth prospects in these markets look much better compared to India’s. In brief, the sustained FII selling is likely to weigh on markets in the near-term.”
Key Indicators
Brent crude hovered around $103 a barrel on supply concerns, with the Strait of Hormuz mostly shut and US allies refusing to send warships to help tankers navigate the key chokepoint that handles about 20% of global oil supplies.
The Nifty and Sensex have fallen about 7% each so far this month, as investors assess the fallout from the U.S.-Israeli war on Iran. Brokerages Citi and Nomura lowered their year-end Nifty targets on Monday, citing the impact of the surge in crude prices on India’s growth and corporate earnings.
Foreign investors sold shares worth ₹9,366 crore on Monday, provisional data showed, in their twelfth straight session of selling. Outflows this month have reached $6.9 billion.
Stocks to watch today
- Reliance Industries signs binding agreement with South Korea’s Samsung C&T to supply green ammonia for 15 years in a deal valued at more than $3 billion.
- Tata Motors announces price hikes of up to 1.5% on its commercial vehicles from April 1, citing higher input costs.
- Sagar Cements to sell 7.24% stake in Andhra Cements via offer for sale at a floor price of ₹52 per share.
- Alkyl Amines suspends manufacturing of methylamines and ethylamines at three sites due to non-availability of ammonia amid Iran war.