Mumbai, March 30: Indian stock markets ended the last trading session of fiscal year 2026 on a weak note, dragged down by rising global tensions due to the ongoing Middle East conflict. The prolonged war has raised concerns about economic growth and inflation, leading to heavy selling across equities. The benchmark Nifty fell sharply by 2.14 per cent, or 488.20 points, to close at 22,331.40. Similarly, the Sensex dropped 2.22 per cent, or 1,635.67 points, ending the session at 71,947.55.

Commenting on Nifty technical outlook, experts said that from a technical standpoint, the close below the crucial 22,500 support zone is significant and signals a continuation of the broader downtrend. “On the upside, the 22,500–22,600 zone now acts as immediate resistance, where the index has faced repeated selling pressure,” an analyst stated. Stock Market Today: Sensex Plunges 1,690 Points as Indian Equity Benchmarks Close Lower for Fifth Straight Week, Nifty Settles at 22,819.

Selling pressure was clearly visible in financial stocks, with Bajaj Finance, Shriram Finance, and State Bank of India emerging as the top losers on the Nifty index. On Sensex pack, Tech Mahindra and Power Grid were the only two shares that ended in green. The rest, including Bajaj Finance, IndiGo, Bajaj Finserv, Axis Bank and Kotak Mahindra Bank were among top losers.

The weakness was not limited to large-cap stocks. Broader markets also saw significant declines, as the Nifty MidCap index slipped 2.68 per cent, while the Nifty SmallCap index fell 2.66 per cent. Stock Market Today: Sensex Falls 400 Points, Nifty Opens at 23,173 Down 132 Points Amid Weak Global Cues and Rising Brent Crude on Iran Tensions.

Sector-wise, banking and financial stocks bore the brunt of the sell-off. Indices such as the Nifty PSU Bank, Nifty Bank, and Nifty Financial Services ended as the worst performers of the day. Meanwhile, metal and oil & gas stocks showed relatively lesser declines compared to other sectors, offering some support to the market.

Analysts said that heightened geopolitical uncertainty and concerns over inflation continued to weigh on investor sentiment, leading to a sharp correction in equities at the close of the fiscal year.

"The widening of Iranian strikes, reports of Houthis entering the conflict, and a visible US troop buildup in the region collectively raised escalation fears, with no credible pathway to easing energy prices pushing investors firmly into risk-off territory," a market expert stated.

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(The above story first appeared on LatestLY on Mar 30, 2026 05:11 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).