Markets Daily India

Indian Shares Show Signs of Bottoming Out Even as Iran War Rages

Derivatives data suggests selling pressure is easing.

An oil pumping jack in an oil field.Credit: Bloomberg Creative

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By Savio Shetty

March 25, 2026 at 2:45 AM UTC

This article is for subscribers only.

Good morning...

I’m Savio Shetty in Mumbai, with your mid-week roundup of market news and analysis.

Hopes of a de-escalation in the Middle East war have spurred early gains in Asian equities and driven oil prices lower, pointing to a positive start for Indian markets. Also, Iran said foreign ships are allowed to cross the Strait of Hormuz, as long as they aren’t supporting acts of aggression against the country and following the rules. The Nifty climbed nearly 2% on Tuesday, recouping most of the previous session’s losses. While momentum is building, follow-through buying will be crucial to signal a meaningful trend reversal. Volatility is likely to remain elevated, with derivatives expiries on Thursday adding to near-term swings.

Among stocks, United Spirits will be in focus after the Indian unit of Diageo reached a deal to sell its stake in the Royal Challengers Bengaluru IPL cricket franchise. Local markets are shut on Thursday for a public holiday. See you on Friday.

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