Indian Stock Market Continues to Fluctuate; Sensex Closes in the Red, Nifty Shows Marginal Gain.
Closing Bell: The Indian stock market witnessed volatility throughout Tuesday (March 11th). Both the Sensex and Nifty initially saw gains, followed by a decline. However, the overall market remained stable, with some sectors showing strength.
Sensex and Nifty Performance
The BSE Sensex opened at 73,743.88 points and reached an intraday high of 74,195.17. However, it ultimately closed 12.85 points (0.02%) lower in negative territory.
Meanwhile, the Nifty 50 started the day at 22,345.95 and reached a high of 22,522.10. It finally closed with a gain of 37.60 points (0.17%) at 22,497.90.
Midcap and Smallcap Index Performance
The BSE Midcap index saw a 0.7% rise.
The BSE Smallcap index recorded a 0.7% decline.
Top Performing and Underperforming Stocks
Top 5 Gainers:
Trent
Sun Pharma
ICICI Bank
Shriram Finance
BPCL
Top 5 Losers:
IndusInd Bank
Infosys
Bajaj Finserv
Power Grid Corp
Mahindra & Mahindra (M&M)
On the BSE, 2,469 stocks declined, while 1,499 stocks gained.
Sectoral Performance
Gainers: Metal, Realty, Telecom, Oil & Gas (gains ranging from 0.5% to 3%).
Losers: Auto, IT, and Banking (declines ranging from 0.3% to 0.7%).
Expert Opinion
Vinod Nair, Research Head at Geojit Financial Services, stated that despite ongoing trade war concerns and potential recessionary anxieties in the US and Asian markets, the Indian market is showing resilience.
He added, “The stability in the domestic market is attributed to falling oil prices, a weaker dollar index, and improved earnings prospects for Indian companies. In the coming days, the market will be watching retail inflation data, which may indicate potential interest rate cuts.”
Global Market Conditions
Asian Markets: Mixed Performance:
Tokyo and Seoul: Decline
Hong Kong: Stable
Shanghai Stock Market: Gain
Impact of US Markets
S&P 500: 2.6% decline
Nasdaq: 4% decline
The US markets came under pressure due to fluctuating tariff policies and recessionary fears in the US.
Brent Crude: Increased by 0.71% to $69.77 per barrel.
Foreign and Domestic Institutional Investor Activity
Foreign Institutional Investors (FIIs) sold ₹485.41 crore.
Domestic Institutional Investors (DIIs) bought ₹263.51 crore.
Previous Day's Market Performance (Monday)
Sensex: Closed at 74,115.17, down 217.41 points.
Nifty: Closed at 22,460.30, down 92.20 points.
