Nifty Prediction For Monday: Market May See Another Gap-Down On March 9; Know Support, Resistance Levels Indian equity markets are expected to open sharply lower on Monday, March 9, following a volatile week marked by heavy selling pressure and escalating geopolitical tensions. The GIFT Nifty, an early indicator for the Nifty 50, closed at 24,300 on Saturday, signaling a likely gap-down opening. This comes amid rising crude oil prices and continued selling by foreign institutional investors (FIIs), which have dampened investor sentiment. The week’s decline was driven by heightened uncertainty over the Iran-Israel-US conflict and its potential impact on global oil markets. Crude oil prices surged sharply, with Brent crude briefly exceeding $95 per barrel, raising concerns about inflation and the Indian economy. As the world’s third-largest oil importer, India faces significant pressure from sustained high oil prices, which could widen its current account deficit and increase input costs for sectors like transportation, power, and manufacturing. The Nifty 50 closed the week at 24,450, down 2.9%, while the Sensex fell 2.9% to 78,919. The Bank Nifty underperformed, dropping 4.5% to 57,783. Analysts attributed the decline to global uncertainties and rising energy costs, which have kept investor sentiment subdued. Ponmudi R, CEO of Enrich Money, noted that the market remained volatile and under selling pressure due to geopolitical risks and elevated oil prices. Foreign institutional investors continued to exit Indian equities, selling shares worth Rs 21,831 crore during the first week of March. However, domestic institutional investors (DIIs) provided some support, buying equities worth Rs 32,787 crore. This balance of selling and buying helped cushion the market’s fall but did not reverse the overall downward trend.#sensex #nifty_50 #indian_equity_markets #gift_nifty #bank_nifty
