Oil prices climbed sharply after fresh attacks on key energy facilities in the Middle East intensified concerns about supply disruptions from the ongoing conflict. Brent crude jumped over 4% intraday to approach $112 per barrel, while US benchmark West Texas Intermediate hovered near $99. Natural gas prices in the US also saw a spike, rising more than 5%.
Brent Crude jumps to $112 as Middle East conflict hits critical energy infrastructure- Daily Market Update 19th March 2026
Overview and Outlook
Global Stock Market Today
- US equity markets settled lower in range 1.35% to 1.63%.
- European equity markets also ended lower in range 0.06% to 0.95%.
- Asian equity markets are trading lower.
- GIFT Nifty is down by 500 points, Nifty futures likely to open around 23311 levels.
The benchmark Nifty index ended higher at 23778 spot levels after adding nearly 200 points to its previous closing values.
Broader markets outperformed the benchmark as Mid and Small cap indices gained 2.02% & 1.67% respectively.
All sectoral indices, barring FMCG & Metal, ended in green. Amongst them, Media IT and Realty index were the top performers, gained 3.35%, 2.78% & 2.75% respectively followed by Auto, Consumer Durables that rose 1.92% & 1.72% respectively.
Domestic markets will react to sharp rise in Crude Oil prices following fresh attack on key energy facilities in the Middle East. Technically, Nifty index has reached the price resistances of 23800 spot levels as mentioned in our previous post dated Mar 18, 2026. Going ahead, sustained trading below 23580 spot levels might drag it towards 23300 and lower levels in near term. Positional supports are still placed around 23000-22800 spot levels.
Derivatives Overview & Outlook
Yesterday, Nifty and Finnifty futures rose on short covering, shed 1.5% & 1.9% of open interest respectively while Banknifty and Midcapnifty futures rose 0.8% and 1.7% without any significant change in the open interest.
All F&O sectors, barring Metal, settled on a positive note. Amongst them, long buildup were seen among Capital Goods, Finance, Realty and Technology stocks along with some short covering among Telecom stocks.
On option front, both put and call addition was seen at multiple OTM strikes. Maximum positions are at 25000 CE and 23000 PE followed by 23500 PE.
Institutional Trading Activity
Yesterday, FIIs sold stocks worth Rs 2714 Cr in the cash segment, bought index futures worth Rs 2358 Cr and sold stocks futures worth Rs 2244 Cr. DIIs were net buyers in the cash segment to the tune of Rs 3523 Cr.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 23900-24000; Supports 23650-23500
Banknifty – Resistances 55750-56000; Supports 55000-54750
Finnifty – Resistances 26020-26200; Supports 25800- 25600
F&O stocks in ban today – SAIL, SAMMAANCAP
Disclosure
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