War dynamics continue to dictate market direction. As the West Asia conflict drags on, equities remain under pressure. There is still no visible path to a quick resolution. However, crude has not yet surged to intolerable levels — offering limited relief.
Duration of the war
Whether crude moves towards $90–$100 a barrel
Any disruption through the Strait of Hormuz
Sustained FII selling
Foreign funds appear to be pricing in a conflict lasting about a month. If it extends beyond that, markets could see sharper damage.
Gift Nifty touched 24,895.50 on Monday night
Rose to 24,967 before slipping to 24,818
Indicates another weak opening for Indian equities
In ADR trade:
Infosys fell 1.73 percent before recovering 0.69 percent
Wipro dropped 2.70 percent, later gaining 0.43 percent
US indices opened sharply lower but recovered through the session:
Dow Jones fell 73.14 points (0.15 percent) to 48,904.78
S&P 500 rose 0.04 percent to 6,881.62
Nasdaq gained 0.36 percent to 22,748.86
Nvidia climbed 3 percent
US futures are again in the red this morning.
Germany and France fell over 2 percent
UK down around 1.5 percent
South Korea fell 2 percent after reopening
Japan trimmed early losses
Hong Kong up 0.50 percent; China marginally higher
Risk factors weighing on India:
Rising oil prices
Export disruptions to the Gulf
Travel uncertainty
Remittance concerns
Dubai-linked financial flow risks
Indices recovered from deeper cuts but closed firmly negative:
Sensex down 1,048.34 points (1.29 percent) at 80,238.85
Nifty fell 312.95 points (1.24 percent) to 24,865.70
Bank Nifty down 1.14 percent
Mid cap 100 fell 1.58 percent
Small cap 100 dropped 1.75 percent
Market breadth negative:
BSE: 754 advances vs 3,641 declines
NSE: 638 advances vs 2,580 declines
FIIs sold ₹3,295.64 crore
DIIs bought ₹8,593.87 crore
Gold swung between $5,419 and $5,263
Closed at $5,322.80, up 0.81 percent
Kerala 22-carat gold fell ₹1,880 to ₹1,25,040 per sovereign
Dollar index climbed to 98.56
Rupee weakened to 91.47; NDF suggests further pressure
Brent at $78.87
WTI at $72.01
Murban at $79.50
Markets are closely monitoring developments around the Strait of Hormuz, which handles 20–22 percent of global seaborne crude and LNG shipments.
Bitcoin above $69,000
Ether above $2,035
Solana above $87
(March 2, Monday)
Sensex: 80,238.85 (-1.29%)
Nifty 50: 24,865.70 (-1.24%)
Bank Nifty: 59,839.65 (-1.14%)
Mid cap 100: 58,180.50 (-1.58%)
Small cap 100: 16,632.40 (-1.75%)
Dow Jones: 48,904.78 (-0.15%)
S&P 500: 6,881.62 (+0.04%)
Nasdaq: 22,748.86 (+0.36%)
Dollar (₹): 91.47 (+0.49)
Gold (ounce): $5,322.80 (+$42.60)
Gold (sovereign): ₹1,25,040 (-₹1,880)
Brent crude: $77.74 (+$4.87)
