WEEKLY TRENDSETTER ( MARCH 27 ,2026)
| 2026 | MARCH 13 | MARCH 20 | Ch % |
| NIFTY | 23151 | 23114 | -0.16 |
| BANK NIFTY | 53758 | 53427 | -0.62 |
| USD/INR | 92.54 | 93.78 | 1.34 |
MARKET REVIEW-The market was highly volatile with the war with Iran bringing global turmoil with crude reaching alarming levels and was trading above 100 $ for most part of last week. Gas prices have also surged and with Qatar s refinery hit 17% of its production capacity has been affected and a restart of the affected area could take 3-4 years. Longer the war prolongs, crude and gas uncertainty could have a dampening impact on the economies, particularly India which was still recently one of the most promising economies.
INTERESTING CUES
Crude price rise hardens coal demand
In the midst of a sharp market correction one stock which has bucked the trend is Coal India. The ongoing middle East tension has disrupted gas supply which has forced users to switch to coal. The company is selling coal at high auction prices. Coal still accounts for 70-75% of electricity generation followed by hydro (10-12%) and solar energy (7-8%), wind energy (4-5%) which is the fastest growing. With a scorching summer ahead, demand for electricity should surge and will further fuel prices.
HPCL sources crude from Angola and gas from US
The OMC has secured 2 million tons of crude from Angola at a premium of $15 which should be delivered by the 1st week of May. In another development the OMC s have contracted to buy 2.2 mn tons of US LPG which should reduce the dependance on the Middle East for the same.
NIFTY –The index saw a classic bear market rally from 23100 to 23860 only to collapse below 23000 before closing flat for the week. Cues for the coming week are not encouraging and another slide to levels of 22700 looks likely. However, one needs to keep a close watch on the global front and any signs of a truce could lead to a sharp short covering rally in a market which looks oversold.
BANK NIFTY-The index has lost its mojo in the last few weeks and the private banks have been bearing the brunt of selling. While Bank Nifty has slid 11.7 % in March HDFC Bank has slid by 12%. The index is perched at a critical low and looks ominous for a further fall.
Are sugar stocks on a rerating mode?
Since early 2024 this sector has been on a sharp correction mode. With the sugar segment always having its cyclical moves, ethanol came into the picture which was expected to provide stability to the sector. A roadmap as laid in 2018 under the National Policy on Biofuels which aims to reduce oil imports, improve farmer income, and lower emissions by accelerating ethanol blending in petrol. The government advanced the target of 20% ethanol blending (E20) to 2025–26, ahead of the original 2030 goal. With crude crossing 100$, sugar companies are suddenly in focus as several of them have created capacities to produce ethanol. There is a buzz in the segment as investors look to benefit from these stocks which also have seen a decent correction.
Wishing all readers a great week ahead!
Note: Any queries /clarifications may be addressed to stockmasala@gmail.com .
Krish Subramanyam
DISCLAIMER: Kindly note that I am not SEBI registered and the above content is for educational/informational use only and users should consult a registered professional before investing.