Gift Nifty Today: Sensex and Nifty Brace for Bloodbath as Crude Tops $100 per bbl

The benchmark Indian equity indices, Sensex and Nifty 50, are staring at a severe downturn on Monday following a brutal sell-off in global markets triggered by a spike in crude oil prices past the $100 per barrel mark amid escalating Middle East tensions. 

Investor sentiment has been shattered as geopolitical risks intensified, with Iran launching strikes on US and Israeli bases and targeting oil infrastructure in the Gulf. The sharp uptick in crude prices has reignited fears of stagflation, prompting a mass exodus from risk assets. 

On the previous trading session, domestic markets had already felt the pressure. On Friday, March 6, 2026, the BSE Sensex had plunged 1,097 points ( -1.37%) to close at 78,918.90, while the Nifty 50 tumbled 315 points (-1.27%) to settle at 24,450.45. 

Gift Nifty Signals Catastrophic Start 

Gift Nifty was trading near the 23,814.5 mark as of 7:16 AM IST, at a massive discount of about 759 points to the previous close of Nifty futures. The contract hit a high of 24,300 and a low of 23,726, indicating a likely gap-down opening of nearly 800 points for domestic indices. 

Asian Markets Crack Amid Middle East Tensions 

Asian equities crumbled in early trade as the conflict in West Asia rattled investors. 

Japan’s Nikkei 225 suffered one of the region’s steepest declines, dropping more than 6%, while the Topix tumbled 5.27%.  

South Korea’s Kospi plunged 6.5%, triggering a temporary trading halt for the Kospi 200 futures. 

Hong Kong’s Hang Seng futures signalled a softer opening, trading at 25,328, below the index’s last close of 25,757.29. 

Wall Street Futures Plunge as Oil Shocks Markets 

US futures contracts plunged sharply following the spike in oil prices, raising concerns over a slowing US economy. Futures tied to the Dow Jones fell 848 points, or 1.79%. S&P 500 futures lost 1.7%, and Nasdaq 100 futures dropped 1.9%. 

4 Big Developments to Watch 

It’s a sea of red for the markets. Here are the top key developments to watch as Iran’s actions hammer indices across the world: 

1. Sharp uptick in crude prices: Crude oil prices surged past the key level of $100 a barrel after tensions in West Asia increased. Brent crude skyrocketed 20% to $109.11 per barrel in futures trade, while the WTI crude was up 18% to trade at $109.17.
2. US Futures: The US futures contracts plunged amid concerns over a slowing economy, with Dow futures falling 848 points.
3. What’s causing the mayhem: Iran stated that it will continue to launch strikes on US and Israel bases and has countered against Gulf nations, targeting oil refiners and containers.
4. Asian indices down: Japan’s Nikkei 225 dropped more than 6%, while South Korea’s Kospi fell 6.5%, triggering trading halts. 

Also Read: Indian Fertiliser Manufacturers Reduce Urea Output Amid Qatar LNG Supply Disruption! 

Conclusion 

With crude prices breaching the critical $100 threshold and geopolitical tensions showing no signs of abating, the near-term outlook for the equity markets remains highly uncertain. Investors are advised to brace for extreme volatility as the focus shifts to any diplomatic interventions or further escalation in the conflict. The sharp downturn in Gift Nifty and global futures suggests that the selling pressure is far from over for domestic indices. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

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