Market Opening Bell: Sensex falls 350 points, Nifty below 25,700 amid weak global cues after spike in oil price

Indian equity benchmark indices, the Sensex and Nifty, fell on Friday, March 6, 2026, amid weak global cues as the price of oil spiked to its highest level since the summer of 2024. While the 30-share BSE Sensex dipped 356.91 points to start the session at 79,658.99, the Nifty shed 109.5 points to open at 24,656.40. In the last trading session, the Sensex closed at 80,015.90 and the Nifty 50 at 24,765.90. Similarly, the broader indices traded in the red in the opening session. While the BSE Midcap Select Index fell 39.21 points, or 0.24 per cent, in the early trading session, the BSE Smallcap Select Index was down by 3.93 points or 0.05 per cent, to trade at 7,526.91.

From the Sensex pack, BEL, Reliance, Sun Pharma, HCL Tech, and Infosys were among the gainers with BEL leading the pack by gaining 0.39 per cent in the early trade. On the other hand, ICICI Bank, Tech Mahindra, Asian Paints, HDFC Bank and UltraTech Cement were among the losers with ICICI Bank shedding 1.58 per cent in the opening trade.

In early trade, market breadth was negative, with 970 stocks advancing against 1,240 stocks declining on the NSE. 114 stocks remained unchanged.  

“For traders, 24,600/79500 and 24,500/79200 would act as key support zones. Above these levels, the market could continue its positive momentum towards 24,950-25,000/80500-80700. On the other hand, below 24,500/79200, sentiment could change. Below this level, the market can again go towards 24300/78600 levels,” said Shrikant Chouhan, Head Equity Research, Kotak Securities.

What did Gift Nifty indicate?

Gift Nifty, an early indicator for the Nifty 50, indicated a negative start as it opened with a fall of 170.5 points at 24,626, compared to the previous close of 24,796.50. Foreign Institutional Investors (FIIs) continued to sell and offloaded equities worth Rs 3,752.52 crore. However, Domestic Institutional Investors (DIIs) provided strong support by purchasing equities of Rs 5,153.37 crore.

Asian Markets Today