Stock market today: Sensex falls 900 pts, Nifty below 23,050; Eternal shares down 3%
The market's on-and-off reaction to war-related news and events is expected to continue in the near term, said VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.
- Mar 27, 2026,
- Updated Mar 27, 2026 9:24 AM IST
Domestic benchmark indices Sensex and Nifty declined on Wednesday in early trade, tracking negative cues from global markets and rising crude oil prices amid the US–Iran conflict and and a weakening rupee, even as US President Donald Trump extended a pause on strikes against Iran.
At 9:19 am, the BSE Sensex declined 889.16 points, or 1.18%, to 74,384.29, falling as much as 926 points in early trade. The NSE Nifty fell 270.70 points, or 1.16%, to 23,035.75, briefly touching a low of 23,025.50.
The market's on-and-off reaction to war-related news and events is expected to continue in the near term, said VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.
“The spike in Brent crude back to around the $108 level will again trigger another round of risk-off in the Indian market,” Vijayakumar said.
Among Sensex constituents, Eternal plunged 2.77% to Rs 235.50. Mahindra & Mahindra (M&M) slipped 1.95%, while InterGlobe Aviation (IndiGo), Bajaj Finance and L&T were down 1.97%, 1.94% and 1.76%, respectively.
Broader Asian markets traded mostly in red. Japan’s Nikkei 225 was down 0.86% to 53,145.33, while South Korea’s Kospi fell 2.53% to 5,322.56, and Hong Kong’s Hang Seng edged up 0.09% to 24,878.69.
Wall Street ended lower overnight, with all three major indices closing in the red. The S&P 500 declined 1.74% to close at 6,477.16, while the Dow Jones Industrial Average slipped 1.01% to settle at 45,960.11. The Nasdaq Composite plunged 2.38% to 21,408.08.
Technical Research Analyst at Choice Equity Broking Private Limited, Aakash Shah, believes that accumulating fundamentally strong stocks during market corrections could be a prudent strategy.
“Fresh long positions should ideally be considered only after the Nifty decisively breaks above and sustains the 24,500 level, which would signal stronger sentiment and the potential for a more sustained bullish trend," Shah added.
In the previous session on Wednesday, the Sensex zoomed 1205 points, or 1.63 per cent, to settle at 75,273.45, while the 50-pack index gained 394.05 points, or 1.72 per cent, to end at 23,306.45.
According to Vijayakumar, the market correction since the war began has brought Nifty valuations down to fair levels. “Nifty is now trading at about 19 times, which is lower than the last 10-year average of 22.4 times,” he added.
Domestic benchmark indices Sensex and Nifty declined on Wednesday in early trade, tracking negative cues from global markets and rising crude oil prices amid the US–Iran conflict and and a weakening rupee, even as US President Donald Trump extended a pause on strikes against Iran.
At 9:19 am, the BSE Sensex declined 889.16 points, or 1.18%, to 74,384.29, falling as much as 926 points in early trade. The NSE Nifty fell 270.70 points, or 1.16%, to 23,035.75, briefly touching a low of 23,025.50.
The market's on-and-off reaction to war-related news and events is expected to continue in the near term, said VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.
“The spike in Brent crude back to around the $108 level will again trigger another round of risk-off in the Indian market,” Vijayakumar said.
Among Sensex constituents, Eternal plunged 2.77% to Rs 235.50. Mahindra & Mahindra (M&M) slipped 1.95%, while InterGlobe Aviation (IndiGo), Bajaj Finance and L&T were down 1.97%, 1.94% and 1.76%, respectively.
Broader Asian markets traded mostly in red. Japan’s Nikkei 225 was down 0.86% to 53,145.33, while South Korea’s Kospi fell 2.53% to 5,322.56, and Hong Kong’s Hang Seng edged up 0.09% to 24,878.69.
Wall Street ended lower overnight, with all three major indices closing in the red. The S&P 500 declined 1.74% to close at 6,477.16, while the Dow Jones Industrial Average slipped 1.01% to settle at 45,960.11. The Nasdaq Composite plunged 2.38% to 21,408.08.
Technical Research Analyst at Choice Equity Broking Private Limited, Aakash Shah, believes that accumulating fundamentally strong stocks during market corrections could be a prudent strategy.
“Fresh long positions should ideally be considered only after the Nifty decisively breaks above and sustains the 24,500 level, which would signal stronger sentiment and the potential for a more sustained bullish trend," Shah added.
In the previous session on Wednesday, the Sensex zoomed 1205 points, or 1.63 per cent, to settle at 75,273.45, while the 50-pack index gained 394.05 points, or 1.72 per cent, to end at 23,306.45.
According to Vijayakumar, the market correction since the war began has brought Nifty valuations down to fair levels. “Nifty is now trading at about 19 times, which is lower than the last 10-year average of 22.4 times,” he added.