Indian stock markets end FY26 weakest since FY20 after outflows
The Indian stock market wrapped up FY26 on a sour note, with both Nifty 50 and Sensex closing FY26 with their weakest performance since FY20.
On March 30, Nifty fell by 2.14% and Sensex by 2.22%, mostly due to rising oil prices, the rupee sliding close to ₹95 per US dollar, and over ₹1 trillion in foreign investor money leaving just this March.
Iran US tensions push Nifty down
Tensions between Iran and the US have made markets even shakier, pushing Nifty down more than 11% since things escalated.
A hike in Securities Transaction Tax (STT) has also put off short-term traders.
Even though the Reserve Bank of India (RBI) tried to step in, the rupee had its toughest year since 2013.
Meanwhile, oil companies are still struggling despite a tax cut, and brokerages are seeing fewer active clients as people get cautious about trading.