News

GIFT Nifty surges over 500 points indicating a rebound on weekly expiry after ₹15 lakh crore routThe fall seen by the Nifty 50 so far in March has made it the worst month for the index going back to the Covid-19 lows of March 2020.By Hormaz Fatakia   March 24, 2026, 6:32:19 AM IST (Published)2 Min ReadGIFT Nifty, an early indicator of how Indian markets are likely to begin trading, surged as much as 520 points in early ticks on Tuesday, March 24, indicating a potential rebound from near 12-month low levels.

The rebound comes after US President Donald Trump on Monday announced that the US will not attack any energy infrastructure of Iran for the next five days as both countries are talking and could possibly bring an end to the month-long conflict that has roiled global financial markets and sent oil prices soaring.

The Wall Street Relief Rally

Trump's announcement sparked a relief rally on Wall Street with the Dow Jones ending with gains of over 600 points and the S&P 500 and Nasdaq ending with gains of over 1% each. Oil prices also cooled off from elevated levels, but remained close to the $100 a barrel mark for the Brent variant. WTI crude eased off to trade below $90 a barrel.

The Steep Sell-Off On Dalal Street

Indian markets have had a forgettable March, wiping out nearly ₹50 lakh crore in investor wealth since the conflict began in West Asia. Higher oil prices are negative for net importers like India, and sentiments have remained negative with every recovery getting sold into.

The Nifty 50 index is now at the lowest levels since April 9 last year, having corrected nearly 15% from its January 2026 peak. The Nifty Bank has also slumped over 15% from its own record high levels. The Smallcap index has already entered "bear market territory", having corrected over 20% from its peak from July last year.

The fall seen by the Nifty 50 so far in March has made it the worst month for the index going back to the Covid-19 lows of March 2020.Continue ReadingTagsBSE SensexGift niftyNifty 50share market today