Rupee began the week on a red note, tumbling to its record low in early trade. The currency dropped 33 paise to hit a record low of 93.86 against the US dollar, slipping past its previous trough of 93.7350 recorded on Friday. The fall comes as boiling tensions in the Middle East have fueled fears of prolonged disruption to energy supplies, dragging down the currency. Weakness was visible across the region, with Asian currencies declining between 0.1% and 0.8% after hopes of easing hostilities faded over the weekend, Reuters reported. The conflict has now entered its fourth week, with Donald Trump and Tehran continuing to exchange threats. A sharp rise in crude oil prices has added to the pressure, with rates surging more than 50% this month. The International Energy Agency has flagged the current situation as more severe than the oil shocks of the 1970s combined. Dalal Street also reflected the strain with Nifty50 plunging below the 23,000 mark, and BSE Sensex down over 1,300 points. At 9:17 AM, the Nifty50 stood at 22,698.55, down 416 points or 1.80 per cent, while the Sensex was at 73,168.18, lower by 1,365 points or 1.83 per cent. Since the conflict began, rupee, seen as particularly vulnerable to rising oil prices, has depreciated nearly 3%. According to Reuters, BofA Global Research projects rupee to reach 94 by June 2026, compared with its earlier estimate of 89, assuming the crisis eases in the coming weeks. Persistent foreign fund outflows have further weighed on the currency, with more than Rs 1 lakh crore pulled out since the beginning of 2026.

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Stock market crash today: Nifty50 and BSE Sensex plunged in opening trade on Monday with oil prices continuing to remain Hugh amid the ongoing US-Iran war. While Nifty50 went below 23,000, BSE Sensex dropped over 1,300 points. At 9:17 AM, Nifty50 was trading at 22,698.55, down 416 points or 1.80%. BSE Sensex was at 73,168.18, down 1,365 points or 1.83%.The near-term outlook remains heavily dependent on incoming economic data, while geopolitical developments in the Middle East and fluctuations in crude oil prices are expected to be the primary external factors shaping market direction.Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “With the war in West Asia getting into the fourth week, there is no clarity on when the war will end. Unfortunately, the war is escalating with President Trump giving an ultimatum to Iran to open the Strait of Hormuz in 48 hours. The Iranian president’s response that “ the Strait of Hormuz is open to all except those who violate our soil” has prevented panic in the oil market. However, the uncertainty is huge and markets will be waiting and watching the outcome.“It is important to understand that the huge risk-off globally has impacted all assets including stocks, bonds and precious metals like gold and silver. In fact, the crash in safe haven gold is worse than in equities. There is nothing that investors can do during this crisis characterised by huge uncertainty. If history is any guide, investors should not panic, but keep cool. The sharp depreciation in the rupee will benefit exporters like pharmaceuticals and autos and auto ancillaries. The beaten down IT segment may surprise with a bounce back.”Asian markets opened on a weak footing, with equities declining and oil prices showing sharp volatility at the start of the week. The ongoing conflict, with no clear signs of easing, has added to investor nervousness, while US Treasury yields continued to climb amid an extended selloff in bonds.Wall Street ended sharply lower on Friday, dragged down by declines in major technology stocks such as Nvidia and Microsoft, as the US-Israeli conflict with Iran entered its fourth week. The prolonged tensions have heightened concerns about rising inflation and the likelihood of higher interest rates.Crude oil prices remained largely steady on Monday, as markets balanced the risk of escalating attacks on energy infrastructure by the US and Iran against the potential increase in global supply following Washington’s decision to allow the release of Iranian oil held at sea.On the domestic front, foreign portfolio investors remained net sellers, offloading equities worth Rs 5,518 crore on Friday. In contrast, domestic institutional investors provided some support to the market, emerging as net buyers to the tune of Rs 5,706 crore.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)

Kolkata Knight Riders (KKR) have acted quickly to deal with their growing injury concerns, bringing in Vidarbha pacer Saurabh Dubey as a replacement for Akash Deep ahead of IPL 2026. The 28-year-old left-arm seamer, who had been training with the squad as a net bowler, now finds himself promoted to the main team just days before the season begins.

Dubey may not yet be a familiar name in the IPL, but he comes with potential and the advantage of already being part of the KKR setup during pre-season. His inclusion gives the team a much-needed option in their depleted pace department.

Akash Deep out of IPL 2026 due to lower back injury

Akash Deep, meanwhile, has been ruled out after suffering a stress reaction in his lower back – an injury that typically requires several weeks of recovery. The Bengal pacer had picked up the issue during a Ranji Trophy match earlier this year and has since been undergoing rehabilitation at the BCCI’s Centre of Excellence in Bengaluru. He never joined KKR’s pre-season camp, leaving the franchise short on domestic pace resources.

Dubey’s journey to this opportunity hasn’t been straightforward. He was previously part of Sunrisers Hyderabad (SRH)’s squad in IPL 2022, but injuries cut that stint short. After going unsold in the IPL 2026 mini-auction, he remained in the available player pool, waiting for a chance – and now, that opportunity has arrived.

“He is a very talented left-arm fast bowler. He gets extra bounce off the wicket and can swing the ball both ways. It’s a good call by the Knight Riders management,” said Subroto Banerjee, highlighting Dubey’s strengths.

A KKR official also confirmed that Dubey had already been impressing in training sessions. “Dubey was a net bowler for KKR and was practising with them at Eden Gardens and in their camp in Mumbai, but he will now be in the main squad,” the official said.

Also READ: RCB legend Virat Kohli reacts to ‘chartered flight to London’ rumours ahead of IPL 2026

Injury concerns mount but KKR remain optimistic

While Dubey’s inclusion provides some relief, KKR’s injury list continues to be a major concern. Akash Deep is not the only pacer missing – young fast bowler Harshit Rana has also been ruled out after undergoing knee surgery. His absence, combined with Deep’s injury, leaves a significant gap in the team’s bowling plans.

Adding to the challenge, marquee signing Matheesha Pathirana is also unavailable for the opening matches as he recovers from a calf strain. His return is expected only around mid-April, meaning KKR will have to navigate the initial phase of the tournament without one of their key overseas pacers.

The franchise has already made other adjustments, including bringing in Zimbabwe fast bowler Blessing Muzarabani earlier, but the constant changes have forced the management to rethink their bowling combinations.

Despite these setbacks, mentor Dwayne Bravo remains confident in the team’s depth and ability to adapt.

“The good thing about Indian cricket, especially at the moment, is that there is a lot of depth. There’re the likes of Umran Malik, Kartik Tyagi, Vaibhav Arora… they are young, exciting talents,” Bravo said.

KKR will begin their IPL 2026 campaign against Mumbai Indians (MI) on March 29 at the Wankhede Stadium. With a reshuffled bowling attack and a mix of experienced players and fresh faces, the team faces an early test of its resilience.

Also READ: Kevin Pietersen picks his dream IPL XI, names MS Dhoni as captain

Gold and silver prices witnessed a steep decline at the opening of trade on the Multi Commodity Exchange (MCX) on Monday, as escalating tensions in the Middle East and inflationary pressures linked to higher crude oil prices reinforced expectations of elevated global interest rates.

Silver futures on the MCX, expiring in May 2026, dropped by Rs 13,606, or 6 per cent, to Rs 2,13,166 per kilogram. Gold futures for April 2026 delivery also saw a sharp fall, slipping Rs 7,115, or 5 per cent, to Rs 1,37,377 per 10 grams.

Stock market recommendations: Ipca Laboratories, and Hindalco are the top stocks that Motilal Oswal Wealth Management Research Desk has picked for this week starting March 23, 2026.

Ipca LaboratoriesIpca Laboratories is witnessing improving growth visibility driven by a recovery in its domestic formulations business and a gradual pickup in exports. The company is strengthening its domestic portfolio through therapy expansion in cardiology, pain management, and entry into high-end dermatology, while reinforcing key brands like Zerodol. Export growth is supported by increasing traction in branded markets and a steady ramp-up in generics, aided by product relaunches in the United States and participation in European tenders. The integration of the Unichem business is progressing, with focus on improving cost efficiencies through API integration and rebuilding the product pipeline, although near-term performance remains impacted by pricing pressure. Overall, improving operating leverage, portfolio optimization, and better execution across segments position the company for steady earnings growth.HindalcoHindalco remains well positioned to benefit from structural demand tailwinds across aluminum and copper, driven by electrification, renewable energy, infrastructure, and electric vehicle adoption, particularly in India where growth continues to outpace global trends. The company’s strategic focus on backward integration, including captive coal mines and renewable energy, is expected to enhance cost efficiency and margin resilience.Its ongoing expansion across upstream and downstream segments, along with increasing share of value-added products, supports long-term profitability and diversification. However, near-term performance may remain impacted by temporary disruptions at Novelis, including the Oswego plant issue and elevated capital intensity. Despite this, strong balance sheet strength, improving domestic operations, and long-term growth visibility underpin a constructive outlook.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)