New Delhi, March 24, 2026 — Indian equity markets opened on a firm note Tuesday morning as global crude oil prices pulled back sharply amid signs of de-escalation in the West Asia conflict, offering relief to energy-sensitive sectors that had been under pressure over the past week.
The Sensex and Nifty tracked positive global cues at the open, with shares of oil marketing companies (OMCs) and paint manufacturers seeing early buying interest after crude prices retreated from last week’s elevated levels. Larsen & Toubro, a key infrastructure and manufacturing bellwether, advanced 2.22% to Rs 3,416.60 in early trade, signalling renewed confidence in India’s industrial capex cycle.
Strait of Hormuz Developments Ease Supply Anxiety
Two Indian-flagged LPG tankers carrying approximately 92,612 tonnes of cooking gas successfully navigated the war-affected Strait of Hormuz on Monday and are expected to dock at Indian ports between March 26 and 28. The safe passage has eased immediate supply concerns and contributed to the softer tone in crude markets globally.
Fuel prices across India held steady on Tuesday despite the recent volatility in global oil markets. In Delhi, petrol remains at Rs 94.77 per litre and diesel at Rs 87.67 per litre, as the government holds prices stable amid the ongoing West Asia uncertainty.
Key Stocks and Sectors in Focus
Stocks to watch Tuesday include HDFC Bank, Coal India, Wipro, IndiGo, HPCL, BPCL, IOCL, Reliance Industries, and Petronet LNG — all showing pre-market movement driven by a combination of global cues and domestic corporate developments. IndiGo made a leadership announcement, appointing Aloke Singh as Chief Strategy Officer effective April 6, 2026, as the airline continues its strategic expansion amid competitive domestic aviation dynamics.
Silver prices remained under mild pressure, tracking weakness in global bullion markets compounded by a firm US dollar, while iron ore and base metal prices showed stabilisation on easing geopolitical concerns.
Industrial Outlook
Market analysts note that if de-escalation in West Asia holds, India stands to benefit significantly — crude constitutes the single largest component of India’s import bill, and lower energy costs feed directly into manufacturing margins across sectors ranging from chemicals and paints to logistics and aviation. The PLI-driven manufacturing expansion underway across 14 sectors remains sensitive to input cost stability, making the crude oil trajectory a macro variable to watch closely this week.
With quarterly results season approaching and the RBI’s next monetary policy committee meeting scheduled in April, markets will also closely track inflation data expected this week.
— Industrial Front Desk
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