GIFT Nifty down 340 points; here’s the trading setup for today’s session

Markets finished last week on a largely flat note with a negative bias, reflecting underlying caution among participants. The forthcoming week is expected to remain data-sensitive amid ongoing global uncertainties. Developments in the West Asian conflict and movements in crude oil prices will continue to act as key external drivers and are likely to dictate the near-term market trend.

The Nifty50 and the Sensex are expected to open on a negative note amidst weak global cues.

Japan’s Nikkei 225 and South Korea’s Kospi were trading 3.3 percent and 4.6 percent down, respectively. Last Friday, the S&P 500 and the Dow Jones Industrial Average finished 1.51 per cent and 0.96 per cent down, respectively.

Hormuz open to all except those who ‘violate’ Iranian soil, says Iranian President
Iranian President Masoud Pezeshkian on Sunday took a jab at US President Donald Trump’s statement and said that the illusion of erasing Iran from the map shows despair against the will of a history-making nation.

Asian Shares Fall

Japan’s Nikkei 225 fell almost 5%, while the Topix dropped 4.4%. South Korea’s Kospi fell more than 6%; the exchange briefly suspended trading after Kospi 200 futures fell over 5%. Australia’s S&P/ASX 200 declined 2.4%, while Hong Kong’s Hang Seng Index fell almost 2% at the ope

Check Outlook Today

Domestic equities are expected to open gap-down (over 300 points decline indicated by Nifty50 amid escalating US-Iran tensions.Key ConcernsBrent crude above $110/bbl (4-year high)INR approaching 94/USDContinued heavy FII selling (₹80,000 crore this month)Weak global cues across US and Asian marketsRising inflation concerns → Possible delay in US Fed rate cutsStrategyExpect high volatility in the near termAvoid aggressive buying at dipsPreference selective and defensive positioning until:Geopolitical tensions easeFII outflows slow

heck Expert View By Akshay Chinchalkar
Akshay Chinchalkar, Managing Partner and Head of Markets Strategies at the Wealth Company

Over to stocks, and the Nifty50 closed 0.5% up at 23114, but not before giving up a reasonable amount of intraday gains. The India VIX finished flat. Mid- and small caps rose more than the nifty. Nearly three stocks rose for every stock that fell on the Nifty 500. Seven of the 12 NSE sectors advanced, with IT stocks rising 2.2% and becoming the day’s best performers. Realty stocks fell the most, dropping 0.9%. Speaking nifty stocks, JSW Steel was the day’s best stock with a 3.4% gain while Hindalco was the worst as it fell 2.5%. Technically speaking, Friday’s candle became an “inverted hammer” with a long upper shadow which means sellers remain active near 23350. Unless the market is capable of breaking through this area, the trend will remain weak.

Immediate resistance lies in the 23345 – 23379 zone, while support lies between 22680 and 22923.

Talking flows, based on provisional data, foreigners withdrew over 5500 crore while domestic players invested around 5700 crore. FIIs have now withdrawn money for 16 straight days through Friday.

Indian equity benchmarks, the BSE Sensex and Nifty 50, are likely to open on a negative note on March 23, tracking losses in GIFT Nifty, which was trading higher at 22,822.50.

Track the latest updates on GIFT Nifty right here on Moneycontrol.

After witnessing a sharp decline in the previous session, Indian equity indices staged a strong rebound on March 20, backed by broad-based buying across sectors.

At close, the Sensex was up 325.72 points or 0.44 percent at 74,532.96, and the Nifty was up 112.35 points or 0.49 percent at 23,114.50.

The Nifty50 traded weak at around 22,822.50, signaling a gap-down opening for the Indian equity indices.

Asian Equities (Down)

Share markets slid in Asia on Monday while U.S. bond yields hit eight-month peaks as the United States and Iran traded escalating threats and Israel planned for “weeks” more fighting, sending oil prices on another roller-coaster ride

US Equities (Down)

Wall Street ended sharply lower on Friday, with the S&P 500 closing at its lowest in six months, as the U.S.-Israeli war against Iran entered its fourth week, deepening concerns about inflation and the potential for higher interest rates.

The S&P 500 declined 1.51% to finish the session at 6,506.48 points, its lowest since September.

The Nasdaq plunged 2.01% to 21,647.61 points, leaving it down almost 10% from its record high close on October 29.

The Dow Jones Industrial Average declined 0.96% to 45,577.47 points.

Indian equity markets are likely to make gap-down start on Monday following weak global cues and escalating conflict between the United States and Iran, along with concerns over energy supply interruptions. Some caution may come amid continued foreign fund outflows, as foreign institutional investors (FIIs) offloaded shares worth Rs 5,518.39 crore on Friday.

Some of the key factors to be watched:

India’s core sector growth slows down to 2.3 per cent in February 2026: According to government data India’s production growth in eight core infrastructure sectors slowed down to 2.3 per cent in February 2026 from 3.4 per cent in the same month last year. Production of crude oil, natural gas, and refinery products declined during the month.

India’s forex reserves drop $7 billion to $709.76 billion: Reserve Bank of India (RBI) said that India’s forex reserves dropped $7.052 billion to $709.76 billion during the week ended March 13. In the previous reporting week, the overall reserves had fallen $11.68 billion to $716.81 billion.

Indian firms facing shipment delays, input shortages amid Iran war: The Confederation of Indian Industry (CII) said Indian companies are facing disruptions ranging from shipment delays to shortages of key raw materials due to the ongoing West Asia conflict, and highlighted increasing stress across sectors dependent on global trade flows.

Foreign investors dump Rs 88,000 crore in March: Foreign investors have pulled out Rs 88,180 crore (about $9.6 billion) from Indian equities so far in March, weighed down by escalating tensions in West Asia, a weakening rupee and concerns over the impact of elevated crude oil prices on India’s growth and corporate earnings.

Govt directs faster processing of city gas projects to ease supply stress: The government has stepped up efforts to streamline gas distribution and ease supply pressures, directing faster processing of city gas projects while increasing allocations of commercial LPG to key sectors amid a challenging geopolitical environment.

On the global front: The US markets finished lower on Friday amid growing concerns over rising inflation and the possibility of increase in interest rates. Asian markets are trading in red on Monday following the broadly negative cues from Wall Street on Friday.

Back home, Indian equity benchmarks gave up most of their intra-day gains but managed to end almost half a per cent higher on Friday, following intense buying in IT, TECK and Healthcare stocks amid concerns over a further spike in fuel-driven inflation. However, profit booking at higher levels along with persistent foreign fund outflows trimmed most of the early gains. Ultimately, the BSE Sensex rose 325.72 points or 0.44% to 74,532.96 and the CNX Nifty50 was up by 112.35 points or 0.49% to 23,114.50.

For more such information, connect with us today: : www.globalmediaa.com