GIFT NIFTY INDICATES DEEP RED START FOR EQUITIES; US TO RELEASE 172 MILLION BARRELS OF OIL FROM STRATEGIC RESERVES

GIFT Nifty:

GIFT Nifty March 2026 futures were down 174.00 points, suggesting a gap down opening for the Nifty 50 today.

Institutional Flows:

Foreign portfolio investors (FPIs) sold shares worth Rs 6,267.31 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 4,965.53 crore in the Indian equity market on 11 March 2026, provisional data showed.

The FIIs have sold shares worth Rs 39,116.71 crore in March (till 11 March 2026). This follows their cash sales of Rs 6,640.78 crore in February and Rs 41,435.22 crore in January 2026.

Global Markets:

Asia markets fell on Thursday as investors grappled with volatile oil prices and escalating tensions in the Middle East, even after the U.S. and its allies announced an unprecedented emergency release of crude reserves to calm energy markets.

The International Energy Agency is looking to release 400 million barrels of oil following the supply disruption owed to the Iran war, the largest such action in the organization�s history. The IEA did not set out a timeline for when the stocks would hit the market.

The U.S. will release 172 million barrels of oil from the Strategic Petroleum Reserve to help lower energy costs, Energy Secretary Chris Wright reportedly said Wednesday evening stateside.

The announcement from the Energy Secretary came after President Donald Trump said earlier in the day that he would tap the Strategic Petroleum Reserve to keep a lid on energy prices.

Overnight in the U.S., the Dow Jones Industrial Average fell as investors continued to eye developments in the U.S.-Iran war and oil prices.

The 30-stock index shed 289.24 points, or 0.61%, to close at 47,417.27. The S&P 500 inched down 0.08% to settle at 6,775.80, while the Nasdaq Composite ticked up 0.08% to end the session at 22,716.13

Domestic Market:

The key equity benchmarks ended with sharp losses on Wednesday, dragged down by selling in select heavyweights.

Geopolitical tensions in the Middle East, particularly the ongoing US-Iran conflict, continued to weigh on market sentiment. Despite earlier expectations that the conflict might end soon, the situation in the region remains tense.

Sustained selling by overseas investors over the past several sessions also pressured the market, while the rupee weakened further against the dollar.

The Nifty ended below the 23,900 level, led by declines in auto, private bank and financial stocks. However, pharma and healthcare stocks bucked the broader weak market trend.

The S&P BSE Sensex tumbled 1,342.27 points or 1.72% to 76,863.71. The Nifty 50 index slumped 394.75 points or 1.63% to 23,866.85.

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