Sensex down over 400 points, Nifty down 130 points amid global sell-off

The stock market fell into the red as the trading session began on Tuesday, March 11, with IT, mid and small cap IT and telecom, as well as mid and small cap financial services stocks falling the most.

At 9.25 am, the benchmark BSE Sensex was down by 451 points or 0.61 per cent, reaching 73,693. The broader NSE Nifty opened 132.95 points down or 0.59 per cent in the red, reaching 22,327.35.

This comes amid a wider sell-off in Asian markets due to Wall Street tumbling overnight after President Donald Trump refused to predict if the US could face a recession due to his tariff policies, driving up investor fears of global economic uncertainty.

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Which stocks fell the most?

Among the 30 Sensex stocks, IndusInd Bank fell the most upon open by 10 per cent, trading at ₹810.55. This was followed by Zomato, which was down 2.01 per cent, trading at ₹206.95, and Tata Steel, which was down by 1.95 per cent, trading at ₹148.00.

In contrast, Zomato had risen the second most during Monday’s open by 0.97 per cent, trading at ₹218.90.

Only 3 of the Sensex stocks were in the green. They were Sun Pharmaceutical Industries (0.41% up), ICICI Bank (0.03% up), and Kotak Mahindra Bank (0% up).

Sun Pharmaceutical Industries had risen the most upon Monday’s open by 1.64 per cent.

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How did individual sectors perform?

Among the Nifty sectoral indices, the Nifty IT Index fell the most by 1.82 percent, reaching 36,960.15. This was followed by Nifty Midsmall IT and Telecom, which was down 1.49 percent, reaching 8,667.05, and Nifty Midsmall Financial Services, which was down 0.99 percent, reaching 13,480.60.

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How did the stock market close during the previous session?

The stock market closed in the red after the previous trading session ended on Monday, March 10, 2025.

The benchmark BSE Sensex closed 217.41 points or 0.29 percent in the red, reaching 74,115.17. The broader NSE Nifty was down by 92.20 points or 0.4 percent in the red, reaching 22,460.30.

Bajaj Broking Research said that the decline in the indices “was driven by concerns over a sharp drop in US stock futures, renewed fears of trade tensions, and weak cues from Asian markets” and that “this week, several key economic indicators, including US and India CPI data and India’s IIP data, will be closely monitored. ”

Meanwhile, Kunal Kamble, Senior Technical Research Analyst at Bonanza said that the “Nifty faced resistance and formed a shooting star candlestick pattern, indicating bearish sentiment.”

“Option data suggests that the index is likely to trade below 22,300 and is unlikely to move beyond 22,000 in today’s session,” he added. “On the upside, a strong recovery would require a breakout above 22,700.”

Among the Sensex stocks, IndusInd Bank fell the most by 3.86 percent, closing at ₹900.60. This was followed by Zomato, which was down 2.58 percent, closing at ₹211.20, and Larsen & Toubro, which was down 2.10 percent, closing at ₹3,177.45.

IndusInd Bank had fallen the second most during Friday’s close by 3.53 percent, closing at ₹936.80, while Zomato had fallen the most by 3.82 percent, closing at ₹216.80.

Only 8 out of the 30 Sensex stocks were in the green.

Among the Nifty sectoral indices, the Nifty Midsmall IT & Telecom Index fell the most by 2.21 percent, reaching 8,798.55. This was followed by Nifty Realty, which was down 2.04%, reaching 799.70, and the Nifty Oil & Gas Index, which was down 1.90%, reaching 9,909.70.

“The broader market underperformed the Nifty, with the Nifty Midcap 100 and Nifty Smallcap 100 indices losing approximately 1.53% and 1.97%, respectively,” Bajaj Broking Research said. “Apart from the FMCG sector, all other sectoral indices ended in the red, with Realty, PSU Bank, Energy, and Auto sectors experiencing declines ranging from 2% to 1%.”

The Realty Index was the one which fell the most on Friday’s close by 1.19 percent, reaching 816.35.

Meanwhile, the Oil & Gas Index, in sharp contrast, had risen the second most on Friday’s close by 0.55%, reaching 10,101.50. On Thursday, it had risen the most on close by 2.59%, reaching 10,045.85.

In the Nifty Midsmall IT & Telecom Index, Birlasoft fell the most (5.74% down), followed by Tejas Networks (5.60% down), and HFCL (4.75% down).

Only one stock in the index was in the green. It was Indus Towers, up by 0.38% or ₹1.25, having closed at ₹328.65.

In the Nifty Realty Index, Mahindra Lifespace Developers fell the most (6.91% down), followed by Raymond (3.79% down), and DLF (3.61% down).

All of the stocks in the index were in the red.

In the Nifty Oil & Gas index, ONGC fell the most (4.12% down), followed by Gujarat State Petronet (3.45% down), and Petronet LNG (3.38% down).

All of the stocks in the index were in the red.

The Oil & Gas index falls at a time when global oil prices are slightly down. The benchmark Brent Crude was down 0.10% or by $0.07 for May 2025 contracts, trading at $69.21 per barrel, while WTI Crude was down 0.21% or by $0.14 for April 2025 contracts, reaching $65.89 per barrel.

Foreign Institutional Investors (FIIs) remained net sellers, offloading ₹485.41 crore worth of equities, while Domestic Institutional Investors (DIIs) were net buyers, buying a difference of ₹263.51 crore.