In March 2026, the Nifty 50 declined 11.31% (2,847 points), while the Bank Nifty plunged 16.94% (10,253 points). The Nifty slipped below the key 23,000 level amid intense selling pressure and closed just 588 points (~2.5%) above its CY2025 low (21,743), and 1,194 points (~5.5%) above its CY2024 low (21,137). Despite positive US–India trade developments, markets remained under pressure due to the ongoing US–Israel–Iran conflict, with the prolonged war dragging the Nifty down ~14% YTD. Volatility surged during the month, with India VIX jumping 103% to 27.9. Brent crude rose 41% to $103, while the Indian Rupee depreciated 2.65%, hitting a record low of ₹95/$ amid inflation and fiscal deficit concerns. In the cash segment, FIIs recorded a historic net selling of ₹1.2 lakh crore — the highest ever in Indian market history — while DIIs bought ₹1.4 lakh crore. All sectoral indices ended in the red, with PSU Banks being the worst hit (down 19.83%), while Pharma was the least declining sector.
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