Daily Current Affairs – March 2, 2026

RBI Governor Sanjay Malhotra stated that India's economy is healthy and robust, with broad-based growth and increased investment. He anticipates interest rates will remain stable or decrease due to benign inflation. While acknowledging global uncertainties, Malhotra expressed confidence in the economy's sustained 'Goldilocks phase'.

Indian ships are told to avoid West Asian ports and the Strait of Hormuz. Major shipping companies have suspended bookings and rerouted vessels. The Strait of Hormuz is closed. This is a precautionary measure amid regional conflict. About 25 Indian vessels are being monitored.

“The Authority will ​continue to monitor ‌developments in the region and assess the situation on an ongoing basis, taking any further measures as necessary,” UAE Capital Markets Authority said ‌in a statement

Global oil markets are bracing for a potential upward price shock as hostilities escalate in West Asia

Despite a 16-month period of subdued returns, mid- and small-cap valuations remain elevated, limiting rebound potential. Krishnan VR of Marcellus Investment Managers favors large caps for their better risk-reward, anticipating an earnings recovery in FY27 amidst a stable domestic economy. He notes strong earnings in PSU banks, metals, and oil & gas sectors during Q3.

The Nifty IT index faces sustained technical pressure, with recent recovery attempts lacking conviction and failing to alter the bearish structure. Analysts suggest a sell-on-rise bias for the sector, anticipating further downside if key resistance levels remain unchallenged. The market sentiment is cautious heading into March, with potential for a weak first half.

The immediate impact is likely to be in deal closures, investments and investor sentiment in UAE, particularly Dubai. In the long-term, however, Dubai will remain an attractive real estate destination. 

Experts warn of sustained disruption, higher operating costs, and reduced cargo capacity due to the US-Iran war.