Navia Weekly Roundup (Mar 23 – 27, 2026)

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• Week in the Review
• Indices Analysis
• Interactive Zone!
• Sector Spotlight
• Top Gainers and Losers
• Currency Chronicles
• Commodity Corner
• Top Blogs of the Week!
• N Coins Rewards

Week in the Review

Markets declined for the fifth consecutive week, marking their longest losing streak since August 2025, amid fading hopes of a near-term resolution to the US-Iran conflict, a sharp depreciation in the Indian rupee, persistent FII outflows and rising crude oil prices.

Indices Analysis

During the week, the BSE Sensex declined 1.56%, to close at 73,583.22, while the Nifty 50 fell 1.35%, to settle at 22,819.60.

The BSE Midcap index slipped 1.3%, dragged down by stocks such as Gujarat Gas, Bharat Dynamics, New India Assurance Company, Escorts Kubota, Bajaj Housing Finance, Torrent Power, Godrej Industries, Cochin Shipyard, NTPC Green Energy, and 360 ONE WAM. However, gains in Gland Pharma, Oracle Financial Services Software, Coforge, LIC Housing Finance, Vishal Mega Mart, Persistent Systems, and Premier Energies provided some support to the index.

The BSE Smallcap index declined 1%, dragged down by stocks such as Embassy Developments, Brainbees Solutions, PTC Industries, Chennai Petroleum Corporation, RHI Magnesita India, Jaiprakash Power Ventures, Finolex Industries, Garden Reach Shipbuilders & Engineers, Relaxo Footwears, Kirloskar Brothers, Bombay Burmah Trading Corporation, Finolex Cables, and EIH, which fell between 8% and 13%. On the other hand, gains in HEG, AFFLE 3I, Emcure Pharmaceuticals, Apar Industries, ACME Solar Holdings, Sammaan Capital, Five-Star Business Finance, and Brigade Enterprises, rising between 7% and 15%.

Foreign Institutional Investors (FIIs) remained persistent sellers in Indian equities for the sixth consecutive session, offloading shares worth ₹24,596.46 crore. In contrast, Domestic Institutional Investors (DIIs) continued their buying trend, purchasing equities worth ₹26,897.05 crore.

Interactive Zone!

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Sector Spotlight

Among sectors, barring IT (up 1.7%), all other sectoral indices ended in the red. The Nifty Defence and Realty indices declined 5.2% each, while the PSU Bank index fell 2.9%, the Consumer Durables index dropped 2.3%, and the Metal index shed 1.5%.

Top Gainers and Losers

Currency Chronicles

USD/INR:

The USD/INR rate closed at ₹94.75 per dollar, gaining 1.18% during the week, reflecting a bullish market sentiment.

EUR/INR:

The EUR/INR rate closed at ₹108.99 per euro, gaining 0.03% during the week, reflecting a bullish market sentiment.

JPY/INR:

The JPY/INR rate closed at ₹0.59 per yen, losing 0.24% during the week, reflecting a bearish market sentiment.

Stay tuned for more currency insights next week!

Commodity Corner

Crude Oil futures are showing sharp corrective pullback with a prominent red candle after failing to sustain above the recent highs near 8,880–9,290. The price has respected the long-term ascending trendline connecting higher lows from the strong demand base near 7,230–8,130 but broke below short-term consolidation levels, preserving the overall bullish structure on higher timeframe despite today’s rejection and increased volatility.

The broader structure remains strongly bullish on the higher timeframe, trading within the ascending channel after the decisive breakout above 8,500–8,650. The current zone around 8,860–8,730 displays strong selling pressure and higher volatility after the sharp move, reflecting short-term exhaustion or profit booking near the upper part of the recent rally. A sustained close above 9,125 could confirm renewed bullish momentum and target 9,290 or higher extension levels within the channel.

On the downside, immediate support lies near 8,725–8,575 (recent swing lows and trendline confluence), followed by stronger structural support at 8,130. A breakdown below 8,725 may invite short-term corrective pressure toward 8,575–8,130 levels, though the dominant uptrend strongly favors buyers on dips unless sustained rejection persists.

Gold futures are showing mild recovery with a small green candle after recent red candles and consolidation. Price continues to respect the descending trendline connecting lower highs from the peak near 160000, maintaining a short-term bearish structure with consistent seller pressure despite the minor bounce and reduced volatility near current levels.

The broader structure remains bearish on the higher timeframe, having broken and stayed below the previous support-turned-resistance zone around 143000–145000. The current consolidation near 139000–141000 shows small-bodied candles and lower volatility, indicating hesitation after the aggressive sell-off. A sustained close above 143000 could signal short-term relief and invite a corrective bounce, though momentum strongly favours continuation lower at present while the descending trendline holds.

On the downside, immediate support lies near 139000–136000 (recent swing lows and trendline confluence), followed by stronger structural demand if breakdown occurs. A clear break below 139000 would confirm renewed bearish momentum and invite deeper corrective pressure toward lower extensions aligned with the downward trendline.

Natural Gas futures are showing mild bearish pressure with a small red candle after failing to sustain above 280. The price has formed a lower high and is holding the ascending trendline support, confirming short-term seller aggression following the rejection from the 288 supply zone.

The recent sessions have shifted the short-term bias to cautious-to-bearish, validating the pullback and consolidation after the rally toward 305. The sustained weakness below 282 has been accompanied by red candle dominance and reduced buyer follow-through. A sustained close below 273 could accelerate downside momentum toward 268 or lower extension levels.

On the upside, immediate resistance now lies near 280, followed by stronger supply at 288–297. A breakout above 280 would be required to invalidate the current bearish shift and invite a corrective bounce, though momentum strongly favours sellers on any rally at present.

Silver Futures are showing strong recovery with a prominent green candle after holding above the recent lows near 227500. Price continues to respect the overhead descending trendline connecting lower highs from the peak near 267810, maintaining a short-term bearish bias with consistent seller dominance despite the strong bounce and green candle testing the lower channel boundary.

The broader structure remains bearish-biased on the higher timeframe, trading below the descending trendline after the sustained breakdown from higher levels. The current zone around 228500–229500 displays strong buying pressure and higher volatility after the sharp move, reflecting short-term relief buying near the lower part of the recent decline. A decisive breakout and sustained close above 232500 could signal short-term relief and trigger fresh upside momentum toward 236500 or higher, though momentum strongly favours sellers unless clear reversal occurs.

On the downside, immediate support lies at 224000–220000 (recent swing lows and trendline confluence), followed by stronger structural demand if breakdown occurs. A clear break below 224000 would confirm renewed bearish momentum and invite deeper corrective pressure toward lower extensions aligned with the downward trendline.

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Top Blogs of the Week!

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