Stock Market Crash News Today Highlights: Nifty, Sensex End Off Day's Low After Crude Oil Pullback Following Historic Rally

• Brent traded at $103.22 a barrel, up $10.53 or 11.36%, while WTI was at $99.97, up $9.07 or 9.98%.
• Prices retreated from earlier session highs after reports of a possible coordinated release from strategic reserves.
• Earlier, Brent rose as much as 29.92% to $119.50 and WTI climbed as much as 31.44% to $119.48 before reversing; both remain above Friday’s closes of $92.69 and $90.90.

• Dow futures fell 768 points, or 1.62%, after being down more than 1,000 points earlier.
• S&P 500 futures slipped 1.52%.
• Nasdaq 100 futures declined 1.55%.

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• N Jayakumar said Indian markets have held up better than other Asian peers, and said the conflict’s end is the key trigger for conditions to normalise.

• Manish Chokhani said the market is being supported by domestic flows and said he sees the current phase as a “buy on dips” setup, while adding he expects the market to find a bottom in the coming weeks.

• On valuations, Chokhani said valuations have corrected and an earnings recovery is awaited; he said he prefers defence, metals and infrastructure and flagged a capex recovery setup. Jayakumar said IT is no longer a safe haven and said he prefers pharma.

• On flows and other assets, Chokhani said FIIs may not return quickly even as the long-term case remains intact, while Jayakumar said FIIs can come back but India is not dependent on them. Chokhani said gold and silver have made a “euphoric” high and said he expects them to move higher, while Jayakumar said telecom and data centres are at good valuations.

• Nifty climbed back to the 24,000 zone, recovering nearly 300 points from the day’s low.
• The rebound came as crude prices eased from session highs on reports of possible G7 action, while US futures and European markets also moved off their lows.
• Reliance Industries contributed about 20 points to the Nifty recovery, and some traders cited oversold positions behind the bounce.

• The finance ministry is evaluating how the Iran conflict and market volatility could affect the disinvestment pipeline, including stake sales and OFS planned in the current fiscal.
• The government is expected to proceed cautiously with the strategic sale of IDBI Bank.
• So far, CPSE dividend receipts stand at Rs 70,577 crore, while disinvestment receipts are Rs 15,562 crore and asset monetisation receipts are Rs 18,837.42 crore.
• The government has set a Rs 47,000 crore capital miscellaneous receipts target for FY26, and FY26 RE pegs CPSE dividend receipts at Rs 71,000 crore.

• South Korea’s Kospi triggered its second circuit breaker in four sessions after falling more than 8%, leading to a 20-minute trading halt from 10:31 a.m. local time.
• Kospi last fell 5.96% to close at 5,251.87, as oil prices neared $120 a barrel for the first time since 2022.
• Other Asian benchmarks also closed lower: Nikkei 225 down 5.20% to 52,728.72; ASX 200 down 2.85% to 8,599.00; Hang Seng down 1.35% to 25,408.46; Shanghai down 0.67% to 4,096.602.

• The pan-European Stoxx 600 was down about 2.1% at around 8:35 a.m. in London, with most sectors lower except oil and gas.
• Key benchmarks were also in the red: CAC 40 down 2.56% to 7,789.19; DAX down 2.41% to 23,023.60; FTSE MIB down 2.49% to 43,052.56.
• FTSE 100 fell 1.74% to 10,105.34, while Spain’s IBEX 35 slipped 2.72% to 16,610.70.

• The government said the recent rise in global crude prices is not expected to materially push up inflation at this stage, according to a written Lok Sabha reply by Finance Minister Nirmala Sitharaman.
• Sitharaman said the Indian crude basket price rose from $69.01 a barrel at end-February to $80.16 by March 2 after the West Asia clashes began on Feb 28, while January 2026 headline inflation was 2.75% within RBI’s 4% ± 2% band.
• The government said the medium-term inflation impact will depend on factors such as the exchange rate and domestic pass-through, and cited an RBI estimate that a 10% rise in crude (if fully passed through) could add about 30 basis points to inflation.

• February APE Growth at 12.3% YoY  
• February NB Premium Growth at 15.7% YoY
• February NB Premium Growth at 15.7% YoY at `2,148 crore

• India’s IT companies are evaluating alternate data centre infrastructure options, Bloomberg reported, citing Nasscom.
• The industry body’s comments were made in the context of the Middle East crisis, the report said.

• Indian Railway Finance Corporation approved a second interim dividend of Rs 1.05 per share, as per an exchange filing.
• The board also approved plans to raise funds of up to Rs 70,000 crore.

• Exporters said March and full-year FY26 goods exports could fall by $8–10 billion if the current problems continue, according to sources.
• The group flagged order cancellations from the Middle East and said exporters are facing additional surcharges of $1,500–$4,000, along with delays in cargo movement and clearances.
• Exporters also said banks are imposing penal charges and denying interest subvention of 2.75%, and raised the matter with the RBI; they also cited delayed no-objection certificates for return containers and detention charges by shipping lines, and urged charges be tempered rather than passed on in full.

• Sources said NHAI met the National Highways Builders Federation and assured adequate supply of bitumen, cement and diesel amid disruption concerns.
• Construction firms have sought force majeure relief, with sources citing issues in truck movement and ship offloading in some regions.
• Sources said bitumen is up by about Rs 2,000 per tonne, against an average of around Rs 50,000 per tonne, and that monthly price revision is due on the 15th.

• Exporters said March and full-year FY26 goods exports could fall by $8–10 billion if the current problems continue, according to sources.
• The group flagged order cancellations from the Middle East and said exporters are facing additional surcharges of $1,500–$4,000, along with delays in cargo movement and clearances.
• Exporters also said banks are imposing penal charges and denying interest subvention of 2.75%, and raised the matter with the RBI; they also cited delayed no-objection certificates for return containers and detention charges by shipping lines, and urged charges be tempered rather than passed on in full.

• Sources said a change of control is being explored at Bandhan Bank, and the lender is in the process of appointing an investment banker for a sale process of the promoter stake.
• The sources said the process may look for strategic buyers and private equity suitors, with the sale being explored as the bank emerges from a difficult microfinance cycle.
• Bandhan Bank told NDTV Profit it is not aware of any such development; promoter holding stands at 39.74%.

• Sources said NHAI met the National Highways Builders Federation and assured adequate supply of bitumen, cement and diesel amid disruption concerns.
• Construction firms have sought force majeure relief, with sources citing issues in truck movement and ship offloading in some regions.
• Sources said bitumen is up by about Rs 2,000 per tonne, against an average of around Rs 50,000 per tonne, and that monthly price revision is due on the 15th.

• Raymond Realty said it will develop a residential project in Mumbai, as per an exchange filing.
• The company said the project has a gross development value (GDV) of Rs 3,000 cr.

• Kapston Services said Npard has allotted 1.01 crore shares as bonus shares in a 1:2 ratio, as per an exchange filing.

• The government has asked shipping and port operators to disclose all charges upfront, after exporters flagged ad-hoc surcharges during the disruption.
• The Directorate General of Shipping is expected to issue guidelines to mandate full disclosure of fixed and conditional fees, and to stop levying charges not mentioned in the bill of lading.
• The move invokes provisions under the Merchant Shipping Act, 2025, including Section 317, to act against hidden logistics charges and alleged collusion in the sector.

• External Affairs Minister S Jaishankar said the government remains committed to ensuring India’s energy security, taking into account availability, cost and risks in energy markets.
• Jaishankar said the interests of Indian consumers will remain the overriding priority.
• He added that Indian diplomacy has supported the efforts of India’s energy companies in the current situation, where required.

• Hindustan Organic said LPG supplier BPCL has informed it of force majeure.
• The company said its plant may have to shut if the LPG disruption continues.

• PG Electroplast said its gas suppliers have communicated a shortage of gas, as per an exchange filing.
• The company said LPG allocation will be constrained from March 9.
• It said it is assessing the impact of supply curtailment on customers.

• Brent traded at $109.34 a barrel, up $16.65 or 17.96%, after earlier rising as much as 29.92% to $119.50.
• WTI traded at $104.13, up $13.23 or 14.55%, after earlier climbing as much as 31.44% to $119.48.
• Prices eased after a Financial Times report said G7 finance ministers may discuss a coordinated release of oil from emergency reserves managed by the International Energy Agency, with three G7 countries, including the US, supporting the idea.

• Nifty traded 2.3% lower at 23,995 after falling as much as 3.1% during the session.
• Sensex traded 2.2% lower, down 1,783 points at 77,135, after being down as much as 2,500 points intraday.

• Long build-up: Multi Commodity Exchange of India; Coal India
• Long unwinding: Steel Authority of India (SAIL); Power Finance Corporation
• Short build-up: UNO Minda; InterGlobe Aviation
• Short covering: Nil

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• Nifty has fallen 10% from its record high, entering a correction zone.
• Sensex has dropped 11% from its record high, also entering a correction zone.

• Gautam Shah of Goldilocks Research told NDTV Profit that global equities remain in a bull run despite the current crisis-led volatility.
• Shah said the dollar index has seen a comeback over the past 10 days and named metals, PSU and healthcare as preferred sectors, along with select small and microcaps.
• Shah said this is not a time to cut positions in panic, while also flagging that the market could fall back towards March–April 2025 lows and that he is not seeing signs of a bottom yet.

• Brent crude rose as much as 29.92% to $119.50, marking a sharp single-day rise.
• WTI crude climbed as much as 31.44% to $119.48, extending the rally from the earlier surge.

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• Cupid was trading ex-bonus, with the stock at Rs 88.05.
• The board had recommended a 4:1 bonus issue, offering four new fully paid-up equity shares for every one share held.

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• Sensex fell as much as 3% to 76,558.76.
• Nifty fell as much as 2.9% to 23,743.45.

• Harshal Dasani, Business Head at INVAsset PMS, said the rise in crude prices reflects higher geopolitical risk linked to Iran-Israel tensions, with WTI moving above $110 a barrel.
• Dasani said markets are focused on the Strait of Hormuz, which handles nearly 20% of global oil flows, and the risk of disruption to shipping lanes and Gulf energy infrastructure.
• Dasani added that demand conditions have not changed materially in recent days and said any de-escalation could reduce the geopolitical premium, while volatility may stay high until there is more clarity.

The rupee weakened by 46 paise against the US dollar to 92.20

• Nifty fell 2.1% in pre-market trade to below 24,000.
• Sensex declined 1.7%, or 1,326 points, to 77,592.

• Rupee could weaken below 92 as global markets turned risk-averse after tensions between Iran and Israel escalated.
• The rise in crude oil prices added pressure on the rupee, with India importing about 80–85% of its crude needs, which can increase dollar demand for oil purchases.
• The move was described as driven by geopolitical risk and higher oil prices, with RBI action and foreign exchange reserves cited as factors that can limit volatility.

- Harshal Dasani, Business Head, INVAsset PMS

• Dow futures fell 1,026 points, or 2.33%.
• S&P 500 futures dropped 2.05%.
• Nasdaq 100 futures declined 2.34%.

• Brent rose to $114.93 a barrel, up 23.99%, while WTI climbed to $113.80, up 25.19%, in early trade.
• The move follows an escalation in the Iran conflict, now in its ninth day, with market focus on potential disruption to Middle East supply and shipping via the Strait of Hormuz.
• Brent had closed at $92.69 on Friday and WTI at $90.90 before the latest rise.

• Jefferies maintained a Buy rating on TBO Tek and kept its target price at Rs 2,000.
• The brokerage said AI is changing how travel demand is discovered, but it does not materially alter distribution and fulfilment.
• Jefferies added that luxury travel remains advisor-led, and said TBO Tek’s value comes from supply access, data and operational complexity rather than front-end software.

• RBI has allowed the promoter shareholding to continue for now without setting up a non-operating holding company (NOHC) as AU Small Finance Bank transitions to a universal bank.
• RBI said an NOHC would be needed only if the group later sets up additional financial services entities.
• RBI had issued an in-principle approval on Aug 7, 2025 for the transition, and the approval is valid for 18 months.

• Dee Development Engineers reported February order inflows of Rs 754 crore, taking its order book to Rs 1,913 crore by the end of the month.
• The company said cumulative FY26 order inflows stand at Rs 1,714 crore.
• It also said it is L1 for additional orders worth Rs 211 crore, as per an exchange filing.

• Positive: au small finance bank (rbi relaxation announcement); fino payments bank (rbi approves interim ceo appointment); max estates (approval for noida project); kpi green energy (battery energy storage purchase pact with guvnl); solar industries (starts construction of nagpur facility); kernex micro (forms jv with bharat heavy engineering); railtel and rites (order wins); poly medicure (strategic update); neogen chemical (promoter fund raise of rs 161 cr); irb infra (feb toll collections up 22% yoy); hg infra (completion of project worth rs 763 cr)
• Negative: Lupin (receives two form 483 observations from the usfda)

• Rising tensions involving Iran and the United States continue into Day 10 of the Middle East conflict.
• Brent crude moved past $100 per barrel; rupee is expected to open at a record low; India’s 10-year bond yield may rise.
• Nikkei and Kospi remain under pressure; weak US data and continued AI-led selling add to risk-off sentiment.
• FIIs have sold cash equities for seven straight sessions; FII index shorts stand at 87% for the March series.
• Gold and silver slipped 2–3% in early trade.

Follow minute-by-minute developments on the latest from the middle-east crisis as Iran war escalates.

• Japan’s Nikkei 225 fell 6.05%, slipping below 53,000, while the Topix declined 5.27%.
• South Korea’s Kospi dropped 6.5%, which halted Kospi 200 futures briefly.
• Australia’s ASX 200 was down 3.68% in early trade.

• Gift Nifty dropped 2.3% to 23,761.50 in early hours.
• The move indicates a gap-down start for the Nifty 50.