Indian equity benchmarks booked losses for the third consecutive day on Friday, with the Sensex falling over 1450 points and Nifty dropping below 23,200 mark, dragged by heightening conflict in West Asia and surging oil prices. Besides, heavy selling in global markets, persistent foreign fund outflows and weakness in the rupee also dented investors' sentiments. 

Some of the important factors in trade:   

India, Chile to enhance cooperation in trade, investment, pharma, technology: With an aim of strengthening cross-border relations, India and Chile have agreed to enhance cooperation in trade, investment, health and pharmaceuticals, science and technology, and other sectors. 

India’s retail inflation rises to 3.21% in February: Retail inflation in the country moved up to 3.21 per cent in February compared to 2.74 per cent in the preceding month. The inflation data is based on the new CPI series with base year 2024.

No fuel shortage in India owing to West Asia crisis: Petroleum Minister Hardeep Puri has said that there is no shortage of petrol, diesel and kerosene in the country on account of the West Asia crisis, adding that spreading rumours or false narratives is unnecessary.

Auto sector’s stocks in watch: Society of Indian Automobile Manufacturers (SIAM) has said that domestic passenger vehicle (PV) dispatches from factories to company dealers rose to 4,17,705 units in February 2026, up 10.6 per cent from 3,77,689 units in the same month last year. 

Global front: European markets were trading lower, while Asian markets settled lower as oil prices soared on renewed fears that a prolonged conflict in the Middle East could further crimp energy supplies, stoking fears of a global economic downturn.

Finally, the BSE Sensex fell 1470.50 points or 1.93% to 74,563.92 and the CNX Nifty was down by 488.05 points or 2.06% to 23,151.10.            

The BSE Sensex touched high and low of 75,576.20 and 74,454.60 respectively. There were 2 stocks advancing against 28 stocks declining on the index.

The top losing sectoral indices on the BSE were Metal down by 4.83%, Industrials down by 4.15%, Basic Materials down by 4.01%, Auto down by 3.27% and Capital Goods down by 2.99%, while there was no gaining sectoral index on the BSE.  

The top gainers on the Sensex were Hindustan Unilever up by 1.18% and Bharti Airtel up by 0.33%. On the flip side, Larsen & Toubro down by 7.52%, Tata Steel down by 5.20%, SBI down by 3.55%, Maruti Suzuki down by 3.12% and Bharat Electronics down by 3.12% were the top losers.

Meanwhile, with an aim of strengthening cross-border relations, India and Chile have agreed to enhance cooperation in trade, investment, health and pharmaceuticals, science and technology, and other sectors. The Ministry of External Affairs has said that Minister of State for External Affairs Kirti Vardhan Singh visited Chile from March 10-12, and represented the Government of India at the inauguration ceremony of new President of Chile, Jose Antonio Kast Rist.

During the visit, Singh held a bilateral meeting with President Kast, and also interacted with outgoing president, Gabriel Boric Font. During these meetings, the two sides agreed to further strengthen cooperation in key areas including trade, investment, health and pharmaceuticals, traditional medicines, science and technology, mining and mineral exploration, education, space, agriculture and people to people exchanges.

The two sides also expressed satisfaction at the progress in the ongoing negotiations for a Comprehensive Economic Partnership Agreement between the two countries. They also agreed to diversify bilateral ties in new and emerging areas of contemporary relevance such as digital public infrastructure, innovation and green energy. Meanwhile, the bilateral trade between India and Chile is modest. In 2024-25, India's exports to Chile were down 2.46% to just $1.15 billion. Imports, however, grew 72% to $2.60 billion.

CNX Nifty touched high and low of 23,492.40 and 23,112.00 respectively. There were 3 stocks advancing against 47 stocks declining on the index.  

The top gainers on Nifty were Tata Consumer Product up by 2.29%, Hindustan Unilever up by 1.17% and Bharti Airtel up by 0.09%. On the flip side, Larsen & Toubro down by 7.38%, Hindalco down by 6.07%, Tata Steel down by 5.41%, JSW Steel down by 4.49% and Grasim Industries down by 3.86% were the top losers. 

European markets were trading lower; UK’s FTSE 100 decreased 6.81 points or 0.07% to 10,298.34, France’s CAC fell 18.74 points or 0.23% to 7,965.70 and Germany’s DAX lost 11.75 points or 0.05% to 23,577.90.

Asian markets settled lower on Friday, tracking Wall Street’s fall overnight. Besides, traders were awaited the release of January’s US Personal Consumption Expenditures (PCE) Price Index, the Federal Reserve’s preferred gauge of inflation, due later in the day. Due to escalating middle east conflict and shipping disruptions, Brent crude oil prices crossed $100 per barrel again and kept investors cautious. Japanese shares declined after Bank of Japan Governor Kazuo Ueda cautioned that the combined impact of a weakening yen and surging oil prices could significantly amplify inflation risks in Japan. Chinese shares fell, despite Beijing’s efforts to shield the economy from oil supply shocks through strategic oil reserves.