The Core Report

#835 Sensex Hits Two Year Low as Oil Crosses $115 per Barrel

Mar 30, 2026
Guest
Indrani Bagchi
Guest
Ajay Bagga
Indrani Bagchi, policy expert and CEO at Ananta Aspen Centre, outlines India’s energy priorities and diplomatic options amid West Asia tensions. Ajay Bagga, veteran market analyst, breaks down private credit risks, trapped capital and contagion worries for India. They discuss oil surging past $115, FII outflows and rupee volatility. Short, timely run-throughs of market stress and energy strategy.
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INSIGHT

Markets Slid From FIIs Selling And Oil Spike

  • Foreign outflows and oil shocks drove sharp market losses in late March 2026.
  • FIIs sold about $12 billion in March while Brent neared $115 a barrel, pushing Sensex to a two-year low.
INSIGHT

Rupee Intervention Provided Only Temporary Relief

  • The rupee fell sharply despite RBI measures aimed at curbing speculation.
  • RBI capped bank open forex positions at $100 million daily but the initial rupee bounce faded, showing deeper economic weakness.
INSIGHT

Private Credit Liquidity Is Cracking Under Redemptions

  • Global private credit faces liquidity stress with gated redemptions and rising defaults.
  • About $4.6bn is trapped behind limits, funds capped withdrawals at 5%, and Fitch noted a 9.2% default signal for 2025.
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