Indian stock markets are bracing for another rough session on Thursday, March 5, 2026, after benchmark indices extended their losing streak to a fourth consecutive day on Wednesday. The Nifty 50 ended 385.2 points (1.55%) lower at 24,480.5, while the Sensex closed down 1,122.66 points (1.40%) at 79,116.19 — with the Sensex touching a 10-month low and the Nifty 50 falling to a six-month low.
What Happened on March 4?
The sell-off was driven by the escalating US-Israel-Iran conflict, which sent Brent crude surging to $85 per barrel. Dollarrupee Nifty Metal crashed nearly 4%, followed by Realty, PSU Bank, and Oil & Gas. Tata Steel, L&T, UltraTech Cement, Bajaj Finance, and NTPC were the top losers. Bharti Airtel, Infosys, and Tech Mahindra were the only gainers.India VIX surged 22.47% to 20.98 — its highest since June 2025 — signalling extreme fear on Dalal Street.
Key Triggers to Watch
Iran's threat to block the Strait of Hormuz — through which ~40% of India's crude supply flows — remains the biggest macro risk. On the institutional side, FIIs sold ₹3,295.64 crore worth of equities on March 3, while DIIs bought over ₹8,593.87 crore to provide some support. Despite DII buying, three months of relentless FII outflows continue to suppress sentiment.
Opening Prediction & Key Levels for March 5
Nifty 50 has broken below the crucial 25,000 level. The 24,900–25,000 band now acts as strong resistance. Immediate support sits at 24,600, with a deeper cushion at 24,200–24,000 if panic selling intensifies. RSI is near 36 — approaching oversold — but no reversal signal has appeared yet. MACD remains firmly negative. Long Forecast
For Sensex, 78,500 is the first support, with 77,800 below that. Bulls need to reclaim 80,747 for any meaningful recovery.
Expert View
Anand James, Chief Market Strategist at Geojit Investments, said recovery attempts need Nifty to sustain above 24,500, failing which bears could target 24,000–23,550. He warned traders to brace for wild intraday swings given VIX at its highest since June 2025.
Bottom Line: Thursday's opening is likely in the 24,300–24,500 range. Watch 24,200–24,000 as critical support and 24,900–25,000 as strong resistance. Stay cautious and avoid aggressive positions until volatility settles.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Consult a SEBI-registered financial advisor before making investment decisions.
