Sensex, Nifty: Gift Nifty down 570 pts! Why stock market may see steep fall today
Brent oil futures for May delivery hit a high of $112 a barrel today. Dutch Title Transfer Facility (TTF), the primary benchmark for natural gas prices in Europe, was up 6.02 per cent at 54.662 euros.
- Mar 19, 2026,
- Updated Mar 19, 2026 8:15 AM IST
Benchmark stock indices are set for a steep gap-down opening after tensions in West Asia intensified, following attacks on Iran’s South Pars gas field. Reports also indicate retaliatory strikes, with Qatar later suggesting that Iranian missile attacks on the Ras Laffan Industrial City, its main gas facility, have caused “significant damage.”
Brent oil futures for May delivery hit a high of $112 a barrel today. Dutch Title Transfer Facility (TTF), the primary benchmark for natural gas prices in Europe, was up 6.02 per cent at 54.662 euros. This sent Gift Nifty lower by 571 points to sub 23,300 level, with analysts see 300-500 point gap-down opening for Nifty. This may add pressure on foreign flows, as FPIs have already sold equities worth Rs 77,214 crore in March so far.
"The Indian equity market is expected to open with a sharp gap-down, with Nifty 50 likely to decline by 300–500 points, potentially snapping its recent three-session recovery rally amid rising global risk aversion. Sentiment has weakened significantly following a sharp surge in crude oil prices, as escalating tensions in the Middle East and reported attacks on key energy infrastructure have intensified concerns over supply disruptions," said Ponmudi R, CEO of Enrich Money.
Reuters reported that Iran’s Revolutionary Guards had issued evacuation orders for key energy facilities, including Saudi Arabia’s Samref refinery and Jubail petrochemical complex, the UAE’s Al Hosn gas field, and Qatar’s Mesaieed petrochemical complex, Mesaieed Holding Company, and Ras Laffan refinery, warning they could be targeted in potential strikes, citing Iranian state media.
Iran’s offshore South Pars gas field accounts for roughly one-third of the world’s largest natural gas reservoir. The field is shared with major exporter Qatar, which refers to its portion as the North Dome.
Ponmudi noted that the sharp rise in Brent crude has emerged as the key trigger, reviving global inflation concerns at a time when central banks continue to maintain a tight monetary stance.
"For India, elevated crude prices directly impact inflation and the import bill, adding pressure on the broader macro environment. At the same time, continued FII selling reflects a clear risk-off approach, with sustained capital outflows weighing on market stability," he said.
Meanwhile, Dow Jones fell 1.6 per cent while S&P500 declined 1.36 per cent overnight following the outcome of the two-day Federal Reserve policy review.
"With the policy rate currently at 3.50% to 3.75%, the real debate is not just whether rates move today, but whether the Fed sounds confident enough to still keep the door open for cuts later in 2026. Markets will likely react more to the tone, projections, and Powell’s commentary than to the headline decision itself,” Viram Shah, Co-founder and CEO, Vested Finance.
Benchmark stock indices are set for a steep gap-down opening after tensions in West Asia intensified, following attacks on Iran’s South Pars gas field. Reports also indicate retaliatory strikes, with Qatar later suggesting that Iranian missile attacks on the Ras Laffan Industrial City, its main gas facility, have caused “significant damage.”
Brent oil futures for May delivery hit a high of $112 a barrel today. Dutch Title Transfer Facility (TTF), the primary benchmark for natural gas prices in Europe, was up 6.02 per cent at 54.662 euros. This sent Gift Nifty lower by 571 points to sub 23,300 level, with analysts see 300-500 point gap-down opening for Nifty. This may add pressure on foreign flows, as FPIs have already sold equities worth Rs 77,214 crore in March so far.
"The Indian equity market is expected to open with a sharp gap-down, with Nifty 50 likely to decline by 300–500 points, potentially snapping its recent three-session recovery rally amid rising global risk aversion. Sentiment has weakened significantly following a sharp surge in crude oil prices, as escalating tensions in the Middle East and reported attacks on key energy infrastructure have intensified concerns over supply disruptions," said Ponmudi R, CEO of Enrich Money.
Reuters reported that Iran’s Revolutionary Guards had issued evacuation orders for key energy facilities, including Saudi Arabia’s Samref refinery and Jubail petrochemical complex, the UAE’s Al Hosn gas field, and Qatar’s Mesaieed petrochemical complex, Mesaieed Holding Company, and Ras Laffan refinery, warning they could be targeted in potential strikes, citing Iranian state media.
Iran’s offshore South Pars gas field accounts for roughly one-third of the world’s largest natural gas reservoir. The field is shared with major exporter Qatar, which refers to its portion as the North Dome.
Ponmudi noted that the sharp rise in Brent crude has emerged as the key trigger, reviving global inflation concerns at a time when central banks continue to maintain a tight monetary stance.
"For India, elevated crude prices directly impact inflation and the import bill, adding pressure on the broader macro environment. At the same time, continued FII selling reflects a clear risk-off approach, with sustained capital outflows weighing on market stability," he said.
Meanwhile, Dow Jones fell 1.6 per cent while S&P500 declined 1.36 per cent overnight following the outcome of the two-day Federal Reserve policy review.
"With the policy rate currently at 3.50% to 3.75%, the real debate is not just whether rates move today, but whether the Fed sounds confident enough to still keep the door open for cuts later in 2026. Markets will likely react more to the tone, projections, and Powell’s commentary than to the headline decision itself,” Viram Shah, Co-founder and CEO, Vested Finance.