The Economic Times

Ahead of Holi 2026, several Indian stocks have emerged as multibaggers since last Holi, delivering exceptional returns despite market volatility. While strong performers span sectors from infrastructure to manufacturing, experts caution that geopolitical tensions and uncertain earnings could keep markets volatile, urging investors to remain selective and patient.

Indias heavy reliance on Middle East crude and relatively low inventory buffers leave it vulnerable to prolonged supply disruptions amid escalating regional tensions. With Brent crude rising and alternative supplies uncertain, analysts warn that sustained instability around the Strait of Hormuz could significantly impact fuel prices and Indias macroeconomic stability.

Prediction markets are under renewed scrutiny in Washington after large wagers on geopolitical and military outcomes raised ethical and legal concerns. Lawmakers question whether such platforms enable profiting from nonpublic information, intensify conflicts, or undermine public interest, as regulators consider tighter oversight amid rapid growth.

Between last Holi and this years festival, 15 smallcap stocks delivered multibagger returns ranging from 150% to 500%. Backed by sectoral momentum and earnings triggers, these counters turned into standout wealth creators, highlighting the high-risk, high-reward potential of the smallcap segment over a one-year horizon.

Indian markets brace for fresh volatility after Donald Trump indicated the Iran war could last up to five weeks. Following a Rs 6.59 lakh crore wealth erosion on Monday, investors will track crude prices, rupee movement and global cues. Technical indicators suggest oversold conditions, but risks remain elevated.

The U.S. dollar rebounded sharply after strikes on Iran triggered a surge in oil prices and a global risk-off shift. A Reuters report showed the dollar index posted its strongest single-day gain in seven months, reviving confidence in the greenbacks traditional safe-haven role during externally driven geopolitical crises.

Renewed Middle East tensions following the Israel-Iran conflict have revived safe-haven demand for gold and silver. After a sharp correction earlier this year, both metals are regaining momentum, with analysts flagging potential breakouts above key resistance levels. Some strategists even see gold testing $10,000 over the medium term.

Oil prices climbed above $70 as escalating US-Iran tensions raised fears of supply disruptions through the Strait of Hormuz. Analysts warn that while momentum remains strong, resistance near $77 could trigger consolidation. Markets are weighing inflation risks and the possibility of further geopolitical escalation driving crude higher.

Amidst the backdrop of international political unrest, Indian markets showcase an impressive ability to weather the storm. Recent analyses highlight that it is the long-term macroeconomic trends, rather than fleeting headlines, that shape market outcomes. With strong economic buffers and substantial domestic liquidity, India stands firm against external shocks.

Indian stock markets experienced a sharp downturn as geopolitical tensions escalated, with Sensex and Nifty seeing significant drops. Analysts anticipate continued short-term volatility due to the Iran-Israel-US conflict, though the long-term outlook for Indian markets remains robust, supported by strong domestic fundamentals and investor inflows.

True diversification isn't about chasing trends but building a structured portfolio balancing growth with defence, according to DSP Mutual Fund's MD & CEO Kalpen Parekh. He emphasizes low correlation, fair valuations, and long-term behaviour over simply owning more assets. Parekh advises against late investments in popular themes, stressing survival and steady compounding in uncertain times.

Veteran investor Ramesh Damani sees immense opportunities in pharmaceuticals, infrastructure, and domestic manufacturing, despite global uncertainties. He highlights the significant GLP-1 drug market beyond just manufacturers, and advocates for equities over gold for long-term wealth creation. Damani believes India's structural growth story remains strong, urging investors to stay put and focus on quality businesses.

We have collated a list of recommendations from top brokerage firms from ETNow and other sources:

Japanese government bond yields surged Tuesday. Fears of a prolonged war involving Iran, the US, and Israel are driving up energy prices. This is expected to accelerate global inflation. Japan, heavily reliant on energy imports, faces significant impact. Market players anticipate the Bank of Japan may raise interest rates sooner than expected to combat rising prices.

Asian airlines faced pressure Tuesday as Middle East conflict escalated. Fuel price spikes are a concern for carriers. However, some airlines are experiencing a surge in bookings. Passengers are switching from Middle Eastern airlines. Major Gulf hubs remained closed, stranding thousands. This situation presents a significant challenge for aviation.

Blackstone, a major asset manager, will increase investor payouts from its private credit fund. This move follows significant withdrawal requests from investors. The fund experienced net outflows of $1.7 billion. Blackstone is accommodating these requests by increasing the redemption limit. This action is attributed to the fund's structure, not liquidity issues.

Berkshire Hathaway shares experienced their largest drop since Warren Buffett's CEO succession announcement, as financial results missed analyst expectations. The conglomerate's fourth-quarter operating profit fell 30%, with significant declines in insurance businesses like Geico. New leader Greg Abel expressed caution regarding investing the company's substantial cash stake, offering no immediate plans for buybacks or dividends.

PacifiCorp, owned by Berkshire Hathaway, faces a potential credit rating downgrade to junk status due to mounting liabilities from 2020 Oregon wildfire lawsuits. A recent $305 million jury award, significantly higher than previous ones, has intensified concerns. The utility, anticipating billions in potential payouts, plans to appeal and asserts it has sufficient liquidity for operations.

Oil prices are climbing for a third day. The conflict between the U.S. and Israel with Iran is intensifying. Threats to shipping through the Strait of Hormuz are causing fears of supply disruptions. This key Middle East region is vital for global oil. Markets are watching the impact of this escalating conflict closely.

Gold prices surged for a fifth consecutive session, reaching a four-week high as investors sought safe-haven assets amid escalating U.S. and Israeli air strikes against Iran. Fears of a protracted regional war and deepened uncertainty are driving demand for the precious metal, with silver, platinum, and palladium also seeing gains.

NSE Holidays for Holi 2026: Domestic stock exchanges BSE and the NSE will remain closed today on account of the Holi holiday. India's largest agri-commodity exchange NCDEX will also be shut in both sessions while MCX is shut for trading in the first session but will resume trading in the evening session.

The yen and euro weakened Tuesday as the escalating Middle East conflict heightened concerns over energy import costs and central bank responses to inflation. The dollar strengthened due to safe-haven demand, while Japan and Europe face greater exposure to rising energy prices. Traders are now anticipating a later Federal Reserve rate cut.

Gains in energy, tech and defense stocks offset losses in other sectors. The Dow Jones Industrial Average fell 0.15% to 48,904.78 points, while the S&P 500 gained 0.04% to 6,881.60 points and the Nasdaq Composite gained 0.36%, to 22,748.86 points.

Asian markets dipped Tuesday as soaring oil prices, driven by Middle East tensions, ignited inflation fears. This surge prompted investors to dial back expectations for imminent interest rate cuts. The dollar held firm, while gold saw a slight uptick. Bond yields climbed as concerns grew about energy costs impacting inflation and potentially delaying Federal Reserve easing.

Gold and silver prices have seen a significant rally. This surge is driven by rising geopolitical tensions in West Asia. Experts suggest prices could reach new records if the conflict continues. Investors are actively buying during price dips. Rising crude oil prices are also a concern for India. The market is closely watching the conflict's outcome and monetary policies.

Indian markets plunged and the rupee weakened as conflict between the US and Iran escalated, causing oil prices to surge nearly 8%. Investors are cutting back on risk amid concerns over supply disruptions in West Asia and the safety of Indian citizens. The situation raises fears of a prolonged conflict, potentially pushing oil prices to $100 a barrel.

Navin Fluorine International's shares have seen a significant rise, fueled by newly commissioned capacities and a robust specialty chemicals pipeline. The company's CDMO division is experiencing faster growth, with a new cGMP facility providing revenue visibility.

Oil and gas prices surged Monday following Israeli and U.S. strikes on Iran and retaliatory actions by Tehran. These events led to facility shutdowns across the Middle East and disrupted shipping in the Strait of Hormuz, impacting global energy markets and potentially fueling inflation.

West Asian conflict's spillover to India fueled investor uncertainty, impacting sectoral indices except pharmaceuticals and metals. Export-facing sectors and those reliant on crude oil and Gulf imports face adverse effects. Oil and gas stocks saw mixed reactions, with upstream companies benefiting from rising crude prices.

Dubai and Abu Dhabi markets are closed due to Iranian strikes. Airports are resuming partial operations. Investors are assessing supply chain disruptions and potential valuation pressures. Private equity firms anticipate a slowdown in deals for a few months. Real asset investors are preparing for valuation corrections. Banks and financial institutions are deferring decisions amid uncertainty.

The rupee, which has lost 6.4% against the US dollar so far in FY26, had closed at 90.98/$1 Friday (February 27), while sovereign bond yields remained relatively unmoved.

Citigroup offloaded 70 crore worth shares in Clean Max Enviro Energy Solutions at a 20% discount to its IPO price after a weak debut on National Stock Exchange of India. The stock ended sharply lower amid muted retail participation despite institutional interest.

The change has prompted at least three investor lawsuits - against AT&T, Axon Enterprises and PepsiCo - and potentially more to follow. By stepping back, the SEC injected uncertainty into the engagement process, said Giovanna Eichner, shareholder advocate at Green Century Capital Management, a climate-focused Boston asset manager.

The United States and Israel launched their most ambitious attacks on Iran in decades on Saturday, killing Supreme Leader Ayatollah Ali Khamenei. Oil and natural gas prices surged on Monday as the strikes and retaliation by Tehran forced shutdowns of oil and gas facilities across the Middle East and disrupted shipping in the crucial Strait of Hormuz.

Dubai, the world's busiest international hub, and Doha remained shut for a third day, leaving tens of thousands of passengers stranded as aviation faced its biggest test since the COVID pandemic. Jordan on Monday became the latest country in the region to partially close its airspace.

Wall Street's main indexes opened lower on Monday as investors braced for a prolonged Middle East conflict that threatened to disrupt global trade routes and reignite inflationary pressures.

Securities and Exchange Board of India fined Coffee Day Enterprises and nine officials 38 lakh for misstating financials between FY20 and FY25. The regulator cited unreported interest expenses, governance lapses, and violations of disclosure norms, while rejecting settlement pleas after adjudication proceedings.

Domestic gold prices surged Rs 7,600 per 10 gram, nearly 5%, as the Iran-Israel/US conflict intensified, triggering safe-haven demand. MCX April futures hit Rs 1,69,679 amid rupee weakness and global risk-off sentiment, with technical indicators signalling sustained bullish momentum and buy-on-dips opportunities.

European gas prices extended gains on Monday after state-run energy firm QatarEnergy halted liquefied natural gas production following Iranian attacks on facilities at two of its main gas processing bases.

True contrarian investing isn't about opposing the crowd, but about independent thought rooted in first principles. Genuine contrarians analyze fundamentals, not just market sentiment, to uncover overlooked risks or opportunities. This disciplined approach, demanding intellectual humility and emotional resilience, is crucial for navigating volatile markets and achieving significant wealth creation.

Eight key stocks including big movers like Tejas Networks, Adani Ports, L&T and Indigo saw sharp swings on Monday as escalating Middle East tensions, rising crude prices and defence orders drove intense sector-wide volatility.

Gold prices could surge to USD 6,000 per troy ounce and rupee may weaken to 92-92.5 against USD if the Middle East conflict escalates further, according to a report by Elara Capital.

Conflict in the Middle East has moved from a fringe risk to a top worry for investors unsettled by the prospect of a power struggle in Iran and a protracted regional war, with ramifications for everything from global trade to inflation.

On Monday, the benchmark Sensex tumbled nearly 1,048 points, closing at 80,238. Amid the broader market decline, five stocks in the BSE 100 LargeCap TMC index hit fresh 52-week lows.

India's five major listed real estate firms' sales bookings rose 20 per cent to nearly Rs 84,000 crore in the first nine months of this fiscal, driven mainly by strong demand for luxury homes.

Market expectations for Japanese bond yields and the central bank's next rate increase have been thrown into disarray as investors fear an extended conflict in the Middle East will have knock-on effects on the yen and domestic inflation.

The rupee fell to its weakest in a month, while the cost of hedging against further depreciation against the dollar rose, as the escalating military conflict in the Middle East kept financial markets across the globe on edge.

Amidst Middle East tensions, Ajay Srivastava advocates a 33-33-33 portfolio of precious metals, Indian equities, and international stocks. He advises against FMCG and domestic consumption, favoring hard assets like gold, silver, and base metals due to currency depreciation and industrial demand. Srivastava also highlights export-driven auto opportunities and overseas defence investments.

Larsen & Toubro shares fell nearly 5% amid Middle East tensions, but an analyst believes it's too early to cut earnings estimates. While the company has substantial exposure to the region, its diversified project footprint and strong order pipeline offer resilience. Investors are advised to watch for L&T's upcoming strategic plan, which could serve as a positive catalyst.