Both the indices opened at 22,549.65 points and 72,565.22 points respectively, down over 1% from the previous session’s close. File
| Photo Credit: The Hindu
Indian investors had their worst month in March 2026 as benchmark Nifty fell 11.36%, the steepest decline since March 2020, as global markets reel under war between the U.S. and Iran.
Nifty fell 2.14% to 22,331.4 points on March 30, 2026, extending the six weeks of continuous declines. Sensex fell 2.22% to 71,947.5 points. Both the indices opened at 22,549.65 points and 72,565.22 points respectively, down over 1% from the previous session’s close. After gaining a few points on the way down to the day’s high, the benchmark indices tumbled down to the day’s close. The decline was broadbased with 2,762 stocks declining and just 570 advancing of the over 3,000 stocks that traded in the National Stock Exchange (NSE).
There were just 13 months since 1995, when monthly returns declined by 10% or more and four of them were in 2008. The worst monthly decline recorded was in October 2008, when Nifty crashed by over 26%. All the 21 sectoral Nifty indices dipped with Nifty PSU Bank dropping by more than 4% in a session.
Oil prices continue to be a pain point for the market as Brent Crude Futures stayed over $108 a barrel. The Iran-U.S. war showed no signs of de-escalation even as U.S. President Donald Trump reportedly “prefers diplomacy” and claims “talks ongoing.” Markets have been in flux ever since the West Asian crisis and the volatility measure India VIX hit a four year high of 27.75 on Monday (March 30, 2026), up 3% in a day.
Analysts maintained that markets were fragile. “On the higher side 22,800 stands as the immediate hurdle on any recovery attempt. On the downside, 21700-21900 band is likely to act as immediate support,” said Nandish Shah, deputy vice-president, HDFC Securities.
Published – March 30, 2026 10:16 pm IST
