Worst Month After Covid | Pain Still Not Over?

Markets Overview

As we stand today, the Nifty is very close to clocking 10% negative returns for March. This marks the worst monthly performance the market has seen since March 2020. It has been six long years since we witnessed a decline of this magnitude; before that, similar 9% to 10% negative months occurred back in January and November of 2011. A significant amount of wealth has eroded from the markets, making these incredibly difficult times for investors.

The primary mover behind this volatility remains the ongoing geopolitical tension between the US, Iran, and Israel, which is now entering its fourth week. This situation has had a massive impact on energy costs, with crude oil prices surging about 45% in March alone. For an economy like India, which imports approximately 85% of its crude oil requirements, this creates a double shock.

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It has been another incredibly difficult day as the markets show no signs of wanting to move upward. Oil prices have started to climb again and an escalation in the war is very much back on track, which is causing significant damage to India.

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