Market suffers worst day in 9 months as global and local sentiments weaken
The Hindu
Indian markets plunged over 3% amid soaring crude prices, rupee depreciation, and escalating West Asia geopolitical tensions in March 2026.
Indian stock markets experienced a meltdown crashing over 3% as oil spiked to $114 a dollar and US Fed reserve signalled higher inflation on 18, March 2026. This was the worst day since June 2024, when markets crashed over 5% in a session.
This is also the fifth instance since 2021, when benchmark indices dipped lower than 3%.
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Nifty opened at 23,197.75 and Sensex at 74,750.92 points down about 2.4% from previous close. Both the indices maintained the level before crashing to the day’s low of 22,930.35 and 73,950.95 points before closing at 23,002.15 and 74,207.24 points. These were levels that markets were trading at in mid 2024.
The sudden slump towards the final trading hours were due to soaring Brent crude futures price hitting a new high of $114 a barrel and the rupee depreciating to a new low of ₹92.89 a dollar.
All the 21 sectoral indices were down with Nifty Auto down more than 4%.
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