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Gift Nifty signals another weak session for Friday after Thursday’s sell-off.
After 3% Crash, Gift Nifty Points To Another Negative Opening For Markets
Gift Nifty signals that another weak session could be on the cards for Friday, following the sharp sell-off seen on Thursday. As of 6:02 PM on March 19, Gift Nifty was trading at 23,027, down 93 points or 0.40%, indicating a likely negative start for domestic equities. The index opened at 23,542 and slipped to an intraday low of 22,929, reflecting persistent selling pressure and weak global cues.
The indication comes after benchmark equity indices witnessed a steep decline on Thursday, snapping a three-day rally. The Sensex plunged 2,496.89 points, or 3.26%, to close at 74,207.24, while the Nifty 50 dropped 775.65 points, or 3.26%, to settle at 23,002.15. Market breadth remained weak, with declining stocks significantly outnumbering advancing ones, while 122 shares remained unchanged on the NSE.
Selling pressure was broad-based across sectors, with all 16 major sectoral indices ending in the red. Financial and banking stocks were among the worst hit, falling around 3%, led by heavy selling in HDFC Bank and other heavyweight stocks.
Several global and macroeconomic factors weighed on investor sentiment. Escalating tensions in the Middle East, particularly the intensifying US-Iran conflict and reports of attacks on key energy infrastructure, have dampened global risk appetite. Brent crude prices surged past $110 per barrel, raising concerns about a fresh spike in inflation, tighter monetary conditions, and pressure on corporate earnings.
Additionally, the US Federal Reserve maintained a hawkish stance, holding interest rates steady while flagging heightened uncertainty due to geopolitical risks. It also raised inflation projections and signalled fewer rate cuts than previously expected, further weakening global market sentiment.
Meanwhile, the Indian rupee depreciated sharply, falling 49 paise to hit a record low of 92.89 against the US dollar. A weaker currency adds to inflationary pressures and could accelerate foreign capital outflows.
Overall, Gift Nifty trends suggest that Friday may see continued volatility and downside pressure, with investors likely to remain cautious amid weak global cues and rising macroeconomic uncertainties.
March 19, 2026, 6:10 PM IST
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