HOME > MARKETS > MARKET COMMENTARY
  MARKET COMMENTARY
EQUITY
Benchmarks witness bloodbath, plunge over 5% amid crude oil, LNG supply crunch
Mar-13-2026

Indian benchmarks witnessed bloodbath in passing week, with both the Sensex and Nifty suffering significant losses of over 5% due to crude oil and LNG supply crunch linked to the ongoing conflict in West Asia, especially after Iran's Supreme Leader declared that the Strait of Hormuz must remain closed. A weakening rupee and foreign fund outflows further rattled investor sentiment.

Some of the major developments during the week are:

Retail inflation rises to 3.21% in February amid higher food prices: The retail inflation based on CPI rose to 3.21% (Provisional) in the month of February 2026 driven largely by food prices. The CPI-based inflation for the month of January 2026 revised down to 2.74% from provisional estimate of 2.75%.

ICRA sees downside risk to India’s FY2027 growth projection amid West Asia crisis: ICRA has said that there will be a downside risk to the India’s growth projection for FY2027 due ongoing crisis in West Asia. ICRA currently projects the real GDP growth at a healthy around 7.1% in FY2027.

February sees rise in domestic passenger vehicle dispatch: SIAM has said that domestic PV dispatches from factories to company dealers rose to 4,17,705 units in February 2026, up 10.6% from 3,77,689 units in the same month last year, as positive market sentiments continued.

India, Chile to enhance cooperation in trade, investment: India and Chile have agreed to enhance cooperation in trade, investment, pharmaceuticals, and technology, etc. The two sides expressed satisfaction at the progress in ongoing negotiations for a Comprehensive Economic Partnership Agreement.

India’s FTAs creating new opportunities: Commerce and Industry Minister Piyush Goyal has said that India’s FTAs are creating new opportunities for the pharmaceutical, healthcare and medical technology sectors, while enabling the country to strengthen its position in global trade.

BSE movement for the week

The Bombay Stock Exchange (BSE) Sensex slipped 4354.98 points or 5.52% to 74,563.92 during the week ended March 13, 2026. On the sectoral front, S&P BSE Auto was down by 5,953.07 points or 9.95% to 53,876.79, S&P BSE BANKEX was down by 4,528.31 points or 6.97% to 60,462.88, S&P BSE Consumer Discretionary Goods & Services was down by 605.10 points or 6.70% to 8,423.18, S&P BSE Metal was down by 2,329.43 points or 5.88% to 37,268.72 and S&P BSE Finance was down by 683.64 points or 5.48% to 11,798.06 were the top losers, while S&P BSE Power was up by 50.18 points or 0.73% to 6922.20 was the only gainer on the BSE.

NSE movement for the week

The Nifty slipped 1299.35 points or 5.31% to 23,151.10. On the National Stock Exchange (NSE), Bank Nifty was down by 4025.40 points or 6.97% to 53,757.85, Nifty Mid Cap 100 decreased 2632.25 points or 4.59% to 54,761.10, Nifty Next 50 lost 2785.20 points or 4.13% to 64,691.45 and Nifty IT was down by 1067.15 points or 3.54% to 29,071.25.

FII transactions during the week

Foreign Institutional Investors (FIIs) were net sellers in equity segment in the week, with gross purchases of Rs 69,475.95 crore and gross sales of Rs 101,179.79 crore, leading to a net outflow of Rs 31,703.84 crore. They also stood as net sellers in the debt segment with gross purchases of Rs 7,444.90 crore against gross sales of Rs 14,611.26 crore, resulting in a net outflow of Rs 7,166.36 crore. In hybrid segment, FIIs stood as net sellers, with gross purchases of Rs 145.14 crore and gross sales of Rs 229.83 crore, leading to a net outflow of Rs 84.69 crore.

Industry and Economy

The Finance Ministry, in its latest report Monthly Economic Review for February, has said that rising prices of petroleum products and fertilizers due to the prolonged crisis in the Middle East may stoke inflationary pressures on India and may have adverse implications for the exchange rate. Besides, subdued capital flows, accentuated by a flight to safety, could put pressure on the currency. It also said that some sectors dependent on LNG and crude, like fertilisers and petrochemicals, could be affected if the crisis is prolonged. It added that this conflict has already driven Brent crude up around 9 per cent to near $80/bbl and LNG prices around 50 per cent. It said the external sector is stable despite elevated global trade uncertainty. 

Outlook for the coming week

Indian markets ended the passing week with heavy losses with escalating war between Iran, the US, and Israel. Rising crude oil prices also weighed on investor’s sentiment.

In the coming week, traders will be looking for the major macro-economic data starting with Wholesale Price Index (WPI) data and Balance of Trade data on March 16, Bank Loan Growth, Deposit Growth, Foreign Exchange Reserves and Infrastructure Output data are going to be out on March 20.

On the global front, investors will be eyeing economic data from United States, starting with NY Empire State Manufacturing Index, Industrial Production on March 16, Redbook YoY on March 17, Producer Prices Index, Fed Interest Rate Decision, FOMC Economic Projections on March 18, Fed Press Conference, Building Permits Final, Initial Jobless Claims on March 19, Fed Balance Sheet and Baker Hughes Oil Rig Count on March 20.

Top Gainers 

  • Coal India up by 3.92% was the top gainer on Nifty for the week - Coal India caught investors’ attention after the coal ministry said that India is fully prepared to meet any unexpected spike in coal demand, citing current coal stocks of about 210 million tonnes amid escalating tensions in West Asia posing risks to global energy supplies.
  • NTPC up by 1.69% was another top gainer on Nifty for the week - NTPC traded higher after its step-down subsidiary - NTPC Renewable Energy commenced the commercial operation of third part capacity of 270 MW out of 1200 MW Khavda-II Solar PV Project located in Gujarat. NTPC Renewable Energy is a wholly owned subsidiary of NTPC Green Energy, a subsidiary of the company.

Top Losers 

  • Larsen & Toubro (L&T) by 14.85% was the top loser of the week on Nifty - Investors turned bearish on L&T amid concerns surrounding the ongoing conflict in West Asia and the company’s exposure to the region. Investors worry that the conflict, if persist for longer duration, could impact the company’s results for upcoming quarters.
  • Ultratech Cement down by 13.61% was another top loser of the week on Nifty - Ultratech Cement came under pressure along with other cement shares as heightened tensions in West Asia raised concerns of raw material supply like pet coke & coal and limestone and high shipping cost. Cement companies import pet coke from Saudi Arabia, US, Gulf etc.

Technical viewpoints

During the week, CNX Nifty touched the highest level of 24,700.80 on March 10 and lowest level of 23,112.00 on March 13. On the last trading day, the Nifty closed at 23,151.10 with weekly loss of 1299.35 points or 5.31 percent. For the coming week, 22,608.47 followed by 22,065.83 are likely to be good support levels for the Nifty, while the index may face resistance at 24,197.27 and further at 25,243.43 levels.

US Market

The U.S. markets traded lower during the week as oil prices climbed on renewed worries over disruption to energy supplies amid Iran conflict. Meanwhile, Trump administration said Navy is not yet ready to escort tankers through the Strait of Hormuz.

Some of the major developments during the week are:

Trade deficit in U.S. narrows more than expected in January: The trade deficit shrank to $54.5 billion in January from a revised $72.9 billion in December. Street had expected the trade deficit to decrease to $67.9 billion.

Weekly jobless claims in U.S. edge slightly lower in the week ended March 7: The Labor Department said initial jobless claims slipped to 213,000, a decrease of 1,000 from the previous week's revised level of 214,000.

U.S. consumer prices increase 0.3% in February: The Labor Department said its consumer price index climbed by 0.3 percent in February after rising by 0.2 percent in January.

Existing home sales in U.S. rebound in February: Existing home sales jumped by 1.7 percent to an annual rate of 4.09 million in February after plunging by 5.9 percent to an upwardly revised rate of 4.02 million in January.

U.S. housing starts surge in January: The Commerce Department said housing starts spiked by 7.2 percent to an annual rate of 1.487 million in January after jumping by 4.8 percent to a revised rate of 1.387 million in December.

European Market

European markets traded lower during the week as tensions in the Middle East escalated and oil prices remained elevated above $100 per barrel, fueling inflation concerns amid mixed macroeconomic data from the UK and Germany.

Some of the major developments during the week are:

UK economy stagnates in January: The UK economy unexpectedly stagnated in January 2026, failing to meet the 0.2% growth forecast. The Office for National Statistics said the country’s GDP remained unchanged at 0.0% month-on-month for January.

Eurozone investor confidence weakens in March: Eurozone investor confidence index has dropped to negative 3.1 in March from a 4.2 in February amid conflict in West Asia and raising concerns about the recent upturn seen in the currency bloc.

Germany's industrial output falls in January: German industrial production started the year on a weak footing, dropping by 0.5% month-on-month in January, from an upwardly revised -1.0% MoM in December.

Inflation rate in Germany at 1.9% in February: The inflation rate in Germany, measured as the Y-o-Y change in the consumer price index (CPI), stood at 1.9% in February 2026. The inflation rate was 2.1% in January 2026 and 1.8% in December 2025.

France February inflation revised to 0.9%: France’s annual inflation picked up to 0.9% in February 2026 from 0.3% in January, but was revised lower from initial estimates of 1%.

Asian Market

Asian markets traded mostly lower during the passing week as oil prices climbed on renewed worries that a prolonged conflict in the Middle East could further crimp energy supplies, stoking fears of a global economic downturn.

Some of the major developments during the week are:

Japan producer prices rise 2% on year in February: Japan’s producer prices rose 2.0% Y-o-Y in February 2026, slowing from a 2.3% increase in the prior month and falling short of market consensus of 2.1%.

Japan logs current account surplus in January: Japan’s current account surplus jumped to 942.6 billion yen in January 2026 from 344.6 billion yen in the same month a year earlier.

Japan economy expands at annualized 1.3% in Q4: Japan’s economy advanced at an annualized pace of 1.3% in Q4 2025, much stronger than the initial estimate of a 0.2% expansion and slightly above market forecasts of 1.2%.

China's annual CPI rose 1.3% in February: China’s annual inflation jumped to 1.3% in February 2026 from 0.2% in January, marking the highest figure since January 2023 and topping market expectations of 0.8%.

China exports surge 21.8% YoY in first two months of 2026: China’s exports jumped 21.8% Y-o-Y to $656.58 billion in January-February 2026, accelerating sharply from a 6.6% rise in December and easily surpassing market forecasts of 7.1%.
  RELATED NEWS >>
Most Viewed >>
EXPLORE
© CITRUS INTERACTIVE
Designed & Developed Accord Fintech Pvt. Ltd.