The key equity benchmarks opened on a weak note in early trade, as a combination of sustained foreign investor outflows and rising global oil prices rattled market sentiment. The Nifty slipped below the 22,600 level. Metal and Oil & Gas shares advanced, while all other indices traded in the red on the NSE.
At 09:28 IST, the barometer index, the S&P BSE Sensex tumbled 952.33 points or 1.30% to 72,720.77. The Nifty 50 index declined 232.95 points or 1.04% to 22,570.30.
The broader market underperformed the frontline indices. The BSE 150 MidCap Index fell 1.44% and the BSE 250 SmallCap Index shed 1.46%.
The market breadth was weak. On the BSE, 983 shares rose and 2,423 shares fell. A total of 191 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term surged 7.48% to 28.81.
Foreign portfolio investors (FPIs) sold shares worth Rs 4,367.30 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 3,566.15 crore in the Indian equity market on 27 March 2026, provisional data showed.
Numbers to Track:
The yield on India's 10-year benchmark federal paper rose 0.14% to 6.942 compared with the previous session close of 6.932.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 93.8400 compared with its close of 94.8582 during the previous trading session.
MCX Gold futures for 2 April 2026 settlement fell 0.65% to Rs 146,350.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.06% to 100.10.
The United States 10-year bond yield declined 1.13% to 4.391.
In the commodities market, Brent crude for May 2026 settlement jumped $1.97 or 1.75% to $114.54 a barrel.
Stocks in Spotlight:
Ceigall India shed 0.91%. The company announced that its subsidiary, Ceigall Infra Projects (CIPPL), has secured an order worth Rs 603 crore from the National Highways Authority of India (NHAI) for the construction of a six-lane access-controlled spur road in Punjab. The project, with a bid value of Rs 603 crore, comprises an 18-month construction phase followed by a 15-year operation and maintenance (O&M) period.
RailTel Corporation of India fell 1.65%. The company announced that it has received a Letter of Intent (LoI) from the Centre for E-Governance for selection as system integrator for the KSWAN 3.0 project. The order, valued at Rs 444.44 crore (including taxes).
Global Markets:
Asia markets fell sharply on Monday as the Middle East war entered its fifth week, with the conflict escalating despite efforts aimed at finding a diplomatic solution.
In Japan, the Bank of Japan policymakers discussed the need for further rate hikes at their March meeting, as rising oil prices linked to the Middle East conflict add to inflation pressures. One member signaled that tightening may need to be accelerated, according to a summary of opinions released Monday.
There is a risk the BOJ might unintentionally fall behind the curve, one policymaker noted, as second-round effects and a rise in underlying inflation stemming from overseas developments are more likely to emerge.
Meanwhile, Yemen’s Houthi movement said Saturday it had fired missiles at Israel, marking its first direct involvement in the U.S.- and Israeli-led war against Iran.
In a post on a social media platform, Houthi spokesperson Yahya Saree has reportedly said the group launched a barrage of ballistic missiles at what it described as sensitive Israeli military sites, in support of Iran and allied Hezbollah forces in Lebanon.
The strike signals a further escalation in a conflict that began with U.S. and Israeli airstrikes on Iranian targets on Feb. 28.
Last Friday, the Dow Jones Industrial Average tumbled and fell into correction territory. The 30-stock Dow fell 793.47 points, or 1.73%, to close at 45,166.64. The S&P 500 lost 1.67% and ended the session at a seven-month low of 6,368.85. The Nasdaq Composite dropped 2.15% and settled at 20,948.36.