The Indian stock market snapped its brief recovery and resumed its losing streak on Friday, March 27, weighed down by rising crude oil prices, surging bond yields, and persistent geopolitical tensions. Benchmark indices declined sharply, with the Nifty 50 falling 2.09% to 22,819 and the Sensex dropping 2.25% to 73,580.
Investor sentiment weakened as Brent crude crossed US$110 per barrel and the Indian 10-year bond yield surged to 6.9%, its highest level since July 2024. Concerns over fiscal stress following excise duty cuts and uncertainty around a potential US-Iran ceasefire further pushed investors away from riskier assets.
Despite the broader market weakness, a handful of stocks managed to close in the green, led by energy and IT names.
| Stock Name | LTP (₹) | % Change |
| ONGC | 281.10 | 4.03% |
| Wipro | 191.35 | 1.22% |
| Bharti Airtel | 1,850.00 | 0.82% |
| TCS | 2,387.50 | 0.42% |
| Coal India | 445.10 | 0.32% |
ONGC emerged as the top gainer, benefiting from elevated crude oil prices, which typically support upstream oil producers. Select IT stocks like Wipro and TCS also saw mild gains, possibly due to defensive buying amid broader market volatility.
Read more: How Budget 2026’s Biogas Tax Break Protects Gas Stocks Amid West Asia Crisis.
Selling pressure was more widespread, particularly in financials and heavyweights, dragging the indices lower.
| Stock Name | LTP (₹) | % Change |
| Shriram Finance | 903.00 | -5.54% |
| TMPV | 302.30 | -4.92% |
| Reliance | 1,348.00 | -4.61% |
| IndiGo | 4,102.10 | -4.48% |
| Bajaj Finance | 846.50 | -4.11% |
Shriram Finance led the losers, with NBFCs and PSU banks facing pressure due to the spike in bond yields, which raises borrowing costs and impacts margins. Reliance Industries also declined sharply, weighing on the index, while aviation stock IndiGo fell amid rising fuel cost concerns linked to higher crude prices.
The sharp rise in bond yields to 6.9% triggered heavy selling in rate-sensitive sectors, especially financials. At the same time, geopolitical tensions in the Middle East, particularly around the Strait of Hormuz, kept crude prices elevated, adding to inflation and fiscal concerns.
Additionally, the recent excise duty cuts on petrol and diesel raised fears about fiscal slippage, further dampening investor confidence.
Read more: Why the Stock Market Fell Today: Sensex Slides 1,000 Points, Nifty Falls 1.3%.
The March 27 session reflected a clear risk-off sentiment in the market, driven by macroeconomic and geopolitical headwinds. While select stocks showed resilience, the broader trend remained weak, with investors closely tracking crude prices, bond yields, and global developments for further cues.
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.
Investments in the securities market are subject to market risks. Read all the related documents carefully before investing.
Published on: Mar 27, 2026, 3:58 PM IST
We're Live on WhatsApp! Join our channel for market insights & updates
Get the link to download the App
