Indian Developments
The week ending March 13, 2026, was one of the most volatile for Indian equities in years, driven by a sharp escalation in West Asia tensions and a massive "oil shock." Benchmark indices recorded their worst weekly drop in nearly four years, with the Nifty 50 plunging approximately 5% over the five-day period.
Brent crude surged past the $100/barrel mark, briefly hitting highs near $117 earlier in the week due to the effective closure of the Strait of Hormuz amid the US-Israel-Iran conflict.
FII remained aggressive sellers, offloading equities worth over ?7,000 crore in single sessions, totalling significant outflows for the week.
While India’s macro fundamentals remain resilient, the immediate pressure from high oil prices and a weakening Rupee has pushed the Nifty into near-oversold territory.
Sectoral Developments
The sell-off was broad-based, though "defensives" offered slight relative protection.
Global Developments
Global cues remained overwhelmingly negative as investors moved toward safe-haven assets.
Other Markets
Source: www.nseindices.com; MCX Gold Prices; Economic times, Bloomberg.
Data for week ended on March 13, 2026.
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