Business

Indian markets opened with caution. Global markets saw a dip on Monday. This was due to the breakdown of US-Iran peace talks. Geopolitical worries resurfaced. A US military blockade added to the pressure. Oil prices surged above $100. This impacted financial stocks. Energy stocks saw gains. Investors moved towards safer assets.

Food inflation, based on the All India Consumer Food Price Index (CFPI), was 3.87% (provisional) for March 2026 on a year-on-year basis. The rate was slightly higher in rural areas at 3.96%, compared to 3.71% in urban regions.

Factory workers’ demands for a wage hike escalated into violent clashes, exposing deep-rooted anger over pay disparities and poor working conditions. The strike paralyzed traffic, stranding thousands and causing significant damage to public and private property. Security forces were deployed to restore normalcy.

Saudi Arabia is slashing oil shipments to China by nearly half next month due to escalating Middle East tensions. The Iran war has disrupted crucial Strait of Hormuz passage, forcing redirection through Yanbu. This alternative route cannot match previous volumes, impacting Asian refiners and creating instability in crude pricing benchmarks.

Morgan Stanley believes the Sensex has the potential to reach 95,000 by December 2026, with its strategist Ridham Desai indicating that Indian equities may be entering a fresh bull phase after enduring one of their weakest periods of relative performance in decades