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Bitcoin saw a dip to $63,000 over the weekend amid geopolitical tensions following an attack on Iran. The cryptocurrency has since recovered near $66,500. Major altcoins also experienced drops, though some saw gains. Experts note market resilience despite volatility. Investors are watching US market reactions for future crypto direction.
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Indian stock markets face three closures in March 2026. Holi, Shri Ram Navami, and Shri Mahavir Jayanti will halt trading. This marks the highest monthly holiday count for the year. Investors are questioning the March 3 Holi closure, as the festival falls on March 4. A fund manager suggested a two-day holiday to account for geopolitical events.
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Global markets opened cautiously as geopolitical tensions escalated, boosting demand for safe-haven assets like the U.S. dollar and Treasury bonds. Oil prices experienced a ‘shock trade’ due to uncertainty surrounding the Strait of Hormuz, a critical energy chokepoint. India and China face significant challenges, potentially impacting their trade and economic stability.
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Tejas Networks shares soared over 15% to Rs 503, marking a 60% surge in four sessions, driven by strong volumes and a new manufacturing deal with NEC for 5G massive MIMO radios. Despite a recent quarterly loss and revenue dip, the company anticipates converting significant inventory into finished goods. This partnership signals international expansion hopes.
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Paint stocks like Asian Paints and Indigo Paints plunged up to 6% as crude oil prices surged due to escalating Middle East tensions following attacks on Iran. The conflict, particularly around the Strait of Hormuz, has raised concerns about oil supply disruptions, directly impacting paint companies reliant on petroleum-based derivatives and pressuring their profit margins.
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