Indian equity markets are headed for a cautious Monday open on March 23, 2026, with GIFT Nifty futures trading just 45.70 points higher at 23,245 — a near-flat signal that reflects the ongoing tug of war between oversold conditions and persistent global headwinds.
The previous week ended on a painful note. The Nifty 50 crashed 3.26% on Thursday, closing at 23,002 before a partial Friday recovery. March has now emerged as one of the worst months for Indian equities in 2026, with Foreign Portfolio Investors (FPIs) pulling out a staggering ₹52,704 crore so far this month alone.
Over the weekend, global cues offered little comfort. US markets closed lower on Friday, with the Dow Jones falling 119 points and the S&P 500 losing 0.61% to 6,632. Brent crude remains elevated near $119 per barrel as the Israel-Iran conflict shows no signs of de-escalating, keeping inflation fears and current account concerns alive.
Key levels to watch Monday: Nifty support sits at 23,000–22,800, with critical resistance at 23,400–23,500. Bank Nifty is at a 6-month low, with 52,500 as the next downside target. India VIX remains elevated above 22, signalling continued volatility. Analysts advise strict risk management and avoiding aggressive directional bets until global cues stabilise.
