GIFT Nifty:
GIFT Nifty March 2026 futures were up 274.00 points, suggesting a gap down opening for the Nifty 50 today.
Institutional Flows:
Foreign portfolio investors (FPIs) sold shares worth Rs 6,030.38 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 6,971.51 crore in the Indian equity market on 06 March 2026, provisional data showed.
The FIIs have sold shares worth Rs 21,831.19 crore in March (till 06 March 2026). This follows their cash sales of Rs 6,640.78 crore in February and Rs 41,435.22 crore in January 2026.
Global Markets:
Markets in Asia tumbled across the board today as oil prices breached $110 per barrel for the first time since 2022.
In latest development on US-Iran war front, Mojtaba Khamenei, a son of Iran's late supreme leader, has been named his successor, Iranian state TV reportedly announced early on Monday, as the war that began a little over a week ago with his father's killing took a dramatic turn.
Monday saw South Korea’s Kospi trigger its second circuit breaker in four sessions. The index plunged over 8%, triggering a 20-minute suspension in trading from 10.31 a.m. local time. Heavyweight Samsung Electronics plunged more than 10%, while chip counterpart SK Hynix shed 11.6%.
A circuit breaker was activated last week when the benchmark tumbled more than 12% Wednesday to record its worst single-day decline.
Japan’s Nikkei 225 tumbled 6.48%, falling below the 53,000 mark for the first time since February 06, while the Topix was down 5.8%.
Brent futures spiked 23.38% to $114.30, while U.S. West Texas Intermediate crude futures rose 26.35% to $114.85.
The surge comes after major Middle Eastern oil producers, including Kuwait, Iran and the United Arab Emirates, cut oil production following the closure of the Strait of Hormuz.
U.S. President Donald Trump, however, posted on Truth Social that a gain in “short term oil prices” was a “very small price to pay” for destroying Iran’s nuclear threat. “Only fools would think differently!” Trump added.
On Wall Street, stocks fell on Friday, adding to their weekly declines, as oil prices spiked and traders reacted to an unexpected drop in new U.S. jobs data.
The Dow Jones Industrial Average lost 453.19 points, or 0.95%, to end at 47,501.55. The S&P 500 fell 1.33% and settled at 6,740.02. Nasdaq Composite dropped 1.59% and closed at 22,387.68.
Friday's surge in crude prices was triggered by Trump's comments. POTUS stated in a social media post that there won’t be a deal to end the U.S.-Iran war without an “unconditional surrender” from the Middle Eastern country.
Qatar’s energy minister, Saad al-Kaabi, told the Financial Times that Gulf energy producers may need to call force majeure in the coming days, shutting down production in a move that could send oil to $150 a barrel. The conflict in the Middle East could “bring down the economies of the world,” he warned.
Equities were also bogged down by the latest jobs data. The Bureau of Labor Statistics reported that nonfarm payrolls fell by 92,000 in February, a sharp contrast from the downwardly revised January gain of 126,000 and far below the growth of 50,000 that was widely reported expected number for the month. The unemployment rate also rose to 4.4% from 4.3%.
Domestic Market:
The key equity benchmarks ended sharply lower on Friday, after a day's breather, as the conflict in West Asia entered its seventh day, pushing crude oil prices higher. Continued foreign fund outflows further weighed on investor sentiment. The Nifty settled near the 24,450 mark, dragged down by losses in banking stocks.
The S&P BSE Sensex plunged 1,097 points or 1.37% to 78,918.90. The Nifty 50 index tanked 315.45 points or 1.27% to 24,450.45.