Indian equity markets took a massive hit on 19 March 2026 as Nifty 50 opened with a sharp gap-down near 23,243 — a fall of over 2% — driven by escalating geopolitical tensions, surging crude oil prices near $109–$120/barrel, and persistent FII outflows. Bank Nifty mirrored the selloff, opening near 53,574 with broad-based weakness across financials.
As we head into Friday, 20 March 2026, GIFT Nifty is currently trading at 23,104, suggesting a flat-to-weak opening. The Put-Call Ratio (PCR) stands at a bearish 0.66, while RSI is in oversold territory. FIIs remained net sellers on 18 March at ₹2,714 crore, taking the March MTD outflow to a steep ₹73,704 crore. DIIs continue to absorb selling with net buying of ₹91,598 crore MTD.
Global cues are weak — NASDAQ fell 1.46% to 22,152, S&P 500 slipped to 6,624, and DAX declined to 22,958. Gold corrected 2.83% to $4,866. US Fed held rates unchanged.
23,000 remains the critical support for Friday. A breakdown could drag Nifty toward 22,700–22,500. Resistance sits at 23,300–23,500. High volatility expected on this game-changing expiry Friday.
