Mumbai, March 12: Investors are bracing for a weak start to Thursday’s session as Indian stock markets fell sharply today, March 12, 2026, following rising geopolitical tensions and a spike in global crude oil prices.

Early signals from GIFT Nifty indicate a gap down opening for domestic benchmarks. GIFT Nifty futures dropped about 213 points, or 0.89 percent, to around the 23,726 level on the NSE International Exchange, suggesting that the Nifty50 and Sensex may extend their losses from the previous trading session.

Rising Oil Prices Trigger Global Market Jitters

The main reason behind the stock market crash today is the escalating conflict involving the United States, Israel and Iran. Reports of fresh attacks on oil tankers near the Strait of Hormuz and Iraqi waters have pushed global oil prices sharply higher.

Brent crude prices surged about 7.7 percent to 99.03 USD per barrel, while US crude rose 7.5 percent to 93.80 USD per barrel. The spike in oil prices has raised concerns about global inflation and supply disruptions, prompting investors to move toward safer assets. Stocks To Buy or Sell Today, March 12, 2026: Wipro, Adani Enterprises, and Ashok Leyland Among Shares That May Remain in Spotlight on Thursday.

Asian markets also reflected the negative sentiment. Japan’s Nikkei index fell more than 1.5 percent, while Hong Kong’s Hang Seng and South Korea’s KOSPI declined close to 1 percent during early trade.

Nifty and Sensex Technical Outlook

Market analysts say the Nifty50 slipping below the key 24,000 level signals technical weakness. The next important support zone lies between 23,700 and 23,750, and a breakdown below this level could push the index toward 23,550. Why Is Stock Market Down Today?

On the upside, 24,000 to 24,150 will act as a major resistance zone if the market attempts a recovery. The Relative Strength Index around 30 indicates that the market is nearing oversold territory, though the broader trend remains bearish.

Banking Stocks and FII Selling Add Pressure

The Nifty Bank index is also under pressure after dropping below the 56,000 level. Analysts see immediate support around 55,300 to 55,400, while resistance remains near 56,100 to 56,200.

Foreign investors have also continued to exit Indian equities. According to provisional data from the NSE, Foreign Portfolio Investors sold shares worth about INR 6,267 crore in the previous session. Domestic Institutional Investors bought INR 4,965 crore, but their purchases were not enough to counter the heavy foreign selling.

What Investors Should Do

Market experts advise investors to remain cautious as global geopolitical tensions and rising oil prices could keep markets volatile in the short term. Analysts recommend maintaining smaller positions and focusing on risk management until there is more clarity on developments in West Asia.

(The above story first appeared on LatestLY on Mar 12, 2026 09:46 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).