Oil slid around 3% on Monday to its weakest since 2021, while most commodity markets including metals tumbled as an intensifying trade war between the United States and China triggered worries over demand for raw materials.

When the closing price falls below the VWAP, it signifies that the closing price is lower than the average price at which it was traded throughout the day, with the average being weighted by trading volume

The rupee declined 19 paise to 85.63 against the US dollar in early trade on Monday, facing the heat of the global trade war triggered by the US reciprocal tariff and China s retaliatory move that also crashed equity markets worldwide to their record lows.

Tata Steel Share Price: The shares of NMDC and Tata Steel experienced sharp fall, diving by 18.2% and 11.56% respectively. This was followed by stocks like Jindal Stainless, National Aluminium Company (NALCO), Hindustan Zinc and Vedanta crashed nearly 10% each.

Market sentiment was further dented by signs of escalating retaliation from China, sparking concerns over a prolonged global trade war.

India VIX spike: India VIX spiked over 59% as Sensex and Nifty plunged amid a global selloff triggered by U.S.-China trade tensions and recession fears. All 13 sectors ended in the red, with sharp losses in IT and metals. Global markets tumbled, commodities slumped, and the Nasdaq entered a bear market. Analysts flagged uncertainty but noted India’s relatively resilient macro position.

Foreign institutional investors (FIIs) aggressively bought financial services stocks worth Rs 14,274 crore in March 2025, while selling other Indian equities. This indicates confidence in Indian banks amid global volatility. Supported by robust financial updates, attractive valuations, and expected improvements in H2 FY26, Indian banks appear resilient to international market fluctuations.

Sridhar Sivaram from Enam Holdings discusses the impact of US tariffs and trade policies under Donald Trump. Highlighting the imbalance in tariffs, he argues that US demands for fair play are justified. Sivaram predicts short-term calm with many countries offering zero tariffs, though significant uncertainty persists around China.

As exporters from countries such as Vietnam, South Korea, and Japan shift their focus to alternative markets like India and the Middle East, Indian manufacturers are now contending with a wave of low-cost imports.