Nifty Could Drop Below 21000: Emkay Global's New Market Forecast Amidst Crude Oil Concerns

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Nifty Could Plunge Below 21000 if Crude Stays Above $100: Emkay Global Warns

Nifty Could Plunge Below 21000 if Crude Stays Above $100: Emkay Global Warns

C

CNBC Awaaz•17-03-2026, 16:38

Nifty Could Plunge Below 21000 if Crude Stays Above $100: Emkay Global Warns

•Emkay Global warns Nifty could fall 10% to 21,000 if crude oil remains above $100/barrel for 3-4 months.
•Indian stock market saw a sharp 9.2% decline in Nifty between Feb 26 and March 13, from 25,500 to 23,150.
•High crude prices due to US-Iran conflict and global energy supply uncertainty are key drivers of the market decline.
•Extended $100/barrel crude could increase India's CAD by 9-10 bps, inflation by 50 bps, and reduce OMC profits by 9%.
•While sectors like OMCs, Airlines, Auto face pressure, IT, Pharma, Metals, Power may be relatively safer; current dip offers long-term opportunities.

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