Sensex Crash on March 27, 2026 Highlights: ₹9 lakh crore lost as Sensex ends 1690 pts lower, Nifty below 23,000

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities said:

"After witnessing a sustainable bounce back in the last couple of sessions, Nifty witnessed a sharp fall on Friday has and closed the day lower by 486 points. After opening on a weak note, the market continued to slide down for better part of the sessions. There was no indication of any meaningful recovery in the middle part and Nifty finally closed near the lows.

A long bear candle was formed on the daily chart which indicates sharp reversal down in the Nifty after a pullback. This market action signals a formation of new lower top reversal pattern at 23465 on the daily timeframe chart. This is in line with the ongoing bearish pattern like lower tops and bottoms of the last one month.

The underlying trend of Nifty has turned down sharply after a recent pullback rally. One may expect further weakness down to 22450 levels and lower in the coming week. Positional support is placed at 22000. Immediate resistance is placed at 23200."

Vinod Nair, Head of Research, Geojit Investments said:

"Indian equities ended lower after a volatile session as rising bond yields coupled with negative cues from western markets and mixed Asian performance kept investors on the edge. Profit booking set in after the recent two-session rally as the rupee fell to an all-time low amid sustained FII selling, while escalating tensions in the Middle East heightened caution among investors ahead of the weekend. The sell-off was broad-based, led by banking, chemicals, realty, and auto stocks. Near-term sentiment remains fragile amid geopolitical risks and potential earnings downgrades due to supply shocks, though medium-term pressures may ease as valuation gaps with other emerging markets narrow."

"Rupee continued its sharp weakness, falling another 0.80% to 94.70 against the dollar, as rising crude prices intensify pressure on India’s import bill. The concern of higher crude for a prolonged period is weighing heavily on the currency and overall macro outlook. Sustained dollar demand and energy-led inflation risks are keeping the rupee under stress. Technically, 94.00 now acts as key resistance, while the next crucial support is seen near 95.00.

Bias remains weak unless crude prices show a meaningful correction," said Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities

The Indian rupee plunged to a record low on Friday, sliding past the 94-per-dollar mark, with mounting worries over the energy crisis sparked by the Middle East war putting the currency on track for its worst fiscal-year drop in more than a decade.

The rupee declined 0.9% to end at 94.8125 after hitting an all-time low of 94.84 per dollar. The Asian currency has fallen about 4% since the Iran war began at February end, and is down 11% this fiscal year.

Nifty Midcap 100 lost 2.23% while Nifty Smallcap 100 declined 1.74%

Investors lost about ₹9 lakh crore as the cumulative market capitalisation of BSE-listed firms dropped to ₹422 lakh crore from ₹431 lakh crore in the previous session.

The Indian stock market benchmark indices Nifty 50 and Sensex settled 2% lower on Friday, March 27, amid weak cues from global markets on escalating US-Iran war and uncertainty over any peace deal.

Sensex ended 1,690 points or 2.25% to settle at 73,583.22 while Nifty 50 ended 487 points or 2.09% lower at 22,819.60.

Brent was last near $110 a barrel on Friday, after touching a crisis-high of $119.50 earlier this month. The benchmark set a nominal peak of $147.50 a barrel in 2008, according to data compiled by Bloomberg.

On Thursday, US President Donald Trump pushed back a deadline for striking Iran’s energy sites by 10 days, with the second pause to that threat stretching the timeline on potential attacks to April 6. Iran had allowed 10 oil tankers to sail through the strait as a goodwill gesture, he said.

Oil may hit a record $200 a barrel if the Iran war drags on till June, with the Strait of Hormuz staying shut, Macquarie Group Ltd. said.

A conflict that stretches through the second quarter would result in historically high real prices, analysts including Vikas Dwivedi said in a note, outlining a scenario with odds of 40%. An alternative outlook, with probability of 60%, suggested the war may finish at the end of this month, they said.

Brent crude is on pace for a record monthly gain in March, as the war between the US, Israel and Iran has rocked the oil-rich Middle East. The conflict has seen Tehran oversee a near-complete closure of the Strait of Hormuz, severely restricting flows of energy vital to the global economy.

“If the strait were to stay closed for an extended period, prices would need to move high enough to destroy an historically large amount of global oil demand,” the analysts said in the March 27 report. “The timing of the re-opening of the straits, and physical damage to energy infrastructure, is the main determinant of the longer-term impact on commodities.” (Bloomberg)

World shares mostly fell and oil gained again on Friday after Wall Street had its worst day since the start of the Iran war over growing doubts about a de-escalation.

In early European trading, Britain's FTSE 100 fell 0.3% to 9,939.96. France's CAC 40 dropped 0.7% to 7,718.97, and Germany's DAX lost 1.3% to 22,314.28.

In Asia, Tokyo’s Nikkei 225 closed 0.4% lower at 53,373.07. South Korea’s Kospi also lost 0.4% to 5,438.87, narrowing the sharp drop earlier in the day at trading close.

Hong Kong’s Hang Seng was up 0.4% to 24,951.88 after dipping earlier in the day, while the Shanghai Composite index traded 0.6% higher at 3,913.72.

Australia’s S&P/ASX 200 fell 0.1% to 8,516.30.

Shares of HEG and Graphite India rallied up to 14% on Friday, despite bears regaining strength and leading to overall weakness on Dalal Street. The sharp surge in the graphite electrode-makers may have been driven by sharp price hikes announced by an American peer.

GrafTech International has informed its customers that graphite electrode prices will increase by $600-1,200 per tonne, depending on the region. The price hikes were effective immediately on any uncommitted volume.

“Over the past three years, market prices for graphite electrodes have declined significantly in each of our key regions and remain below sustainable levels necessary to support continued investment and reliable long-term supply for our customers. In addition, current geopolitical developments are driving increases in our key input costs, including oil‑based raw materials, energy and logistics,” the US-based company said in its press release.

JSW Steel share price is likely to remain in focus after the company informed exchanges about an upcoming board meeting to consider its audited financial results for the March-ended quarter and full financial year.

In a regulatory filing, JSW Steel stated that a meeting of its Board of Directors has been convened for Thursday, May 14, 2026, to consider, among other things, the audited financial results for the quarter and year ended March 31, 2026.

"This is to inform you that a meeting of the Board of Directors has been convened to be held on Thursday, 14th May 2026, to consider, inter alia, the Audited Financial Results of our Company for the quarter and year ended 31st March 2026," said the company.

Gold rose 2% on Friday, buoyed by a weaker dollar and bargain hunting, but was on track for a fourth straight weekly decline as surging energy prices fuelled inflation concerns and raised expectations of higher global interest rates.

Spot gold rose 2% to $4,466.38 per ounce as of 0637 GMT. The commodity has fallen about 0.5% so far this week.

U.S. gold futures for April delivery gained 1.9% to $4,461.

The dollar eased, making greenback-priced bullion cheaper for holders of other currencies.

Asian shares mostly fell and oil gained again Friday after Wall Street had its worst day since the start of the Iran war over growing doubts about a de-escalation.

Tokyo’s Nikkei 225 closed 0.4% lower at 53,373.07. South Korea’s Kospi also lost 0.4% to 5,438.87, narrowing the sharp drop earlier in the day at trading close.

Hong Kong’s Hang Seng was up 0.4% to 24,952.98 after dipping earlier in the day, while the Shanghai Composite index traded 0.6% higher at 3,913.72.

Australia’s S&P/ASX 200 fell 0.1% to 8,516.30. Taiwan’s Taiex was 0.7% lower. (AP)

Vodafone Idea, Filatex Fashions, Tata Gold Exchange Traded Fund, Tata Silver Exchange Traded Fund, Ola Electric Mobility, YES Bank, PC Jeweller, Reliance Power, SEPC, and Jaiprakash Power Ventures were among the most traded stocks, or the most active stocks in terms of volume, on the NSE.

GTL Infrastructure, Suzlon Energy, Nippon India Silver ETF, Nippon India ETF Gold BeES, HDFC Bank, Dharan Infra-EPC, HEG, ONGC, Sammaan Capital, and Bharat Petroleum Corporation were also among the most traded stocks on the NSE. Read more

Tata Motors Passenger Vehicles came under pressure on Friday, March 27, falling over 5% to an intraday low of ₹301.10 on the BSE, after media reports suggested that production at its luxury vehicle arm, Jaguar Land Rover (JLR), may have been disrupted due to a temporary shutdown at its Solihull plant in the UK.

The latest development has once again put the spotlight on JLR, which remains a key earnings driver for Tata Motors. According to a Reuters report, the automaker has temporarily halted production on certain vehicle lines at the Solihull facility for two weeks because of a supplier-related parts issue.