Indian equity markets plunged sharply on March 27 as geopolitical tensions and crude oil surge weighed heavily on investor sentiment. The Sensex fell 1,690 points to close at 73,583, down 2.25 percent, while Nifty 50 dropped 486 points to settle at 22,819, declining 2.09 percent. Crude oil prices surged above $108 per barrel, fueling inflation concerns and pressuring the current account deficit outlook. Aviation, energy, and financial stocks led the decline, though ONGC gained on higher crude realisations. Foreign institutional investors continued selling, though domestic buying provided some support. Market breadth remained heavily negative with multiple stocks hitting 52-week lows. The India VIX spiked, signaling elevated volatility. Technical analysts highlighted critical support at 22,900 for Nifty, with a break below potentially triggering further weakness toward 22,600.
