Sensex slips 62 points, Nifty tests crucial support
Markets slipped in early trade on Monday, March 16, 2026, with the Sensex down about 62 points and Nifty down about 22 points.
The main culprit? Crude oil prices are still above $100 a barrel after U.S.-Israel strikes on Iran disrupted shipping routes.
Expensive oil can raise import bills for India
Expensive oil can raise import bills for India, weaken the rupee, and could weigh on economic growth, all of which make investors nervous.
The Nifty is now testing a crucial support zone after last week's sharp fall.
Foreign investors have been selling heavily
Foreign investors have been selling heavily (net selling of about ₹10,716 crore in a recent session), even as Indian institutions try to pick up the slack.
Meanwhile, India managed to safely move two LPG carriers through tense waters (officials said the safe passage eased short-term supply worries), but ongoing global tensions are still weighing down market confidence.