Benchmarks for equity prices, the Sensex and the Nifty, had early trading losses on March 19 due to widespread selling. While investors negotiate valuation worries in larger markets and wait for the US Federal Reserve's monetary policy result, equity analysts anticipate volatility to swing markets in the short term.

On opening trades, the Sensex and the Nifty fell by 0.4 percent to 72,397 and 21,953, respectively. 1,065 shares fell, 1,530 shares increased, and 118 shares were unchanged.

Local markets would likely be impacted in the near future by a shift in the global market structure, according to V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. "If the Fed delivers a hawkish message that is more aggressive than the market anticipates, there will be a short-term shift in the structure of the global market. Investors could hold off until the Fed's answer on March 20 becomes clear," he continued.

However, Deven Mehata, a research analyst at Choice Broking, predicts that throughout the next days, markets will continue to be pressured as foreign institutional investors (FIIs) could take gains from higher levels. "The Nifty can find support at 21,950, 21,900, and 21,850 in that order. On the plus side, 22,100, 22,150, and 22,200 can provide instant resistance," he stated.

The Nifty Midcap 100 and Nifty Smallcap 100 indexes dropped to 0.2 percent, further weakening wider markets. The India VIX, a measure of fear, increased by more than 2% to trade at over 14.

Sectorally, the Oil & Gas and Nifty IT indexes underperformed, falling as much as 1 percent. Conversely, the Nifty Metal and Nifty Media indexes saw gains of up to 0.7 percent, defying the general trend.