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Accelerated Middle East jitters drag Nifty significantly lower on Monday

09 Mar 2026 Evaluate

Extending losing streak for second straight session, Indian equity benchmark -- Nifty ended deeply in red on Monday as intensified geopolitical tensions weighed on market sentiments. Index made a gap-down start following pessimistic cues from other Asian markets after Middle East conflict escalated over the weekend, fueled brent crude oil prices to $110 per barrel mark and created further supply disruptions in the region. Besides, sentiments remained weak amid persistent foreign fund outflow. As per exchange data, foreign institutional investors offloaded equities worth Rs 6,030.38 crore on Friday. Meanwhile, rupee depreciation to all-time-low of 92.35 against U.S. Dollar, also impacted trading sentiments. However, in second half of the session, Nifty pared some of its losses but eventually ended the session above 24,000 mark.

Most of the sectorial indices ended in red except IT stocks. The top gainers from the F&O segment were Avenue Supermarts, Multi Commodity Exchange of India and Wipro. On the other hand, the top losers were PG Electroplast, Bharat Petroleum Corporation and Amber Enterprises India. In the index option segment, maximum OI continues to be seen in the 25900 - 26100 calls and 23900 - 24100 puts indicating this is the trading range expectation.

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