Sensex and Nifty open flat as crude oil prices weigh on sentiment

India's benchmark indices Sensex and Nifty opened flat on March 17, 2026, as higher crude oil prices weighed on investor sentiment. As of 9:42 am, the S&P BSE Sensex gained 63.36 points to 75,566.21, while the NSE Nifty50 added 21.90 points to 23,430.70.

Higher crude oil prices dampened sentiment, leading to a flat open for Indian equities on March 17, 2026. Per India Today, IT stocks declined amid broader caution, with the market reflecting global oil pressures in early trading at the BSE and NSE.

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Dramatic illustration of BSE traders panicking amid plunging Nifty and Sensex indices, Middle East oil crisis, and HDFC Bank slump.
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Indian benchmarks plunge over 3% in biggest single-day drop in nearly two years amid Middle East attacks and HDFC Bank slump

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Indian equity benchmarks Nifty 50 and Sensex crashed more than 3% on Thursday, their steepest single-day decline since June 2024, closing at 23,002.15 and 74,207.24 respectively. Escalating West Asia conflicts drove crude above $110 a barrel, stoking inflation fears, while HDFC Bank shares tumbled over 5% following chairman Atanu Chakraborty's resignation.

India's benchmark indices Sensex and Nifty are poised for a weak start on March 13 amid ongoing Middle East conflict, with Brent crude hitting $100 per barrel. This follows earlier market turmoil from the West Asia crisis, including Iran's Strait of Hormuz closure.

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India's stock markets opened higher on Monday, with the Sensex gaining 87.45 points to 83,965.62 and the Nifty rising 39.40 points to 25,829.70 as of 9:23 am. Eternal IT shares were up 3%. The headline suggested a larger Sensex gain of over 250 points, but the reported figure was lower.

Foreign portfolio investors pulled out a record Rs 1.18 lakh crore in March, driving the Sensex down 2.22% to 71,947.55 and Nifty 2.14% to 22,331.40 on Monday. The rupee breached 95 intra-day before closing at 94.83 against the dollar. Elevated crude prices above $100 per barrel due to the West Asia conflict added pressure.

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Crude oil prices surpassing $100 have erased Rs 20 lakh crore from Indian equity markets this week, amid escalating Iran conflict. The rupee hit a record low as foreign institutional investors continued selling, intensifying the downturn. Experts suggest the panic could present long-term buying opportunities.

Wall Street's main indices show moderate gains in a low-volatility session, as investors digest retail sales data below expectations and await Wednesday's employment report.

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Despite weakness in the broader market due to escalating Middle East tensions and hawkish US Federal Reserve signals, certain smallcap stocks in India posted strong gains of up to 41% over five sessions. Crude oil prices rose above $110 per barrel, raising inflation concerns. A selective rally highlighted top performers across various sectors.

 

 

 

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