NIFTY50 and SENSEX resumed their ongoing decline on Friday, March 6. Both benchmark indices fell 1.2%, erasing the previous day’s gains. The market slump comes amid rising tensions between the US, Israel, and Iran. The decline is also attributed to persistent sell-offs by foreign institutional investors (FIIs) and weak global market sentiment.
As of 2:45 pm, NIFTY50 dropped 314 points, or 1.2%, to trade at 24,451. It hit a day low of 24,445. Meanwhile, BSE SENSEX fell 966 points, or 1.2%, to 79,054. The index hit a low of 78,907 today.
Why are Markets Down Today?
Investors’ sentiments remain weak due to geopolitical unrest in the Middle East. Tensions between the US, Israel, and Iran have led to a surge in crude oil prices. Brent crude oil hit a 20-month high, trading above $86 per barrel. This rise is negative for the Indian economy, as higher crude oil prices may cause inflationary pressure.
In addition, FIIs have sold off Indian equities worth ₹15,800 crore in the first three trading days of March. This has further dampened investor confidence.
Despite the broad market decline, mid-cap and small-cap stocks have bucked the trend. The NIFTY Midcap100 rose by 0.03%, and NIFTY Smallcap100 increased by 0.3%. However, more than 153 stocks hit their 52-week low today. This suggests that investors are engaging in profit booking amid weak market sentiments.
Sector Performance
The India VIX, which measures market volatility, is up 6.43%, reaching 19.01. Among sectoral indices, NIFTY Chemicals, NIFTY Oil & Gas, and NIFTY Metal were the top gainers. NIFTY Chemicals rose by 0.7%, while NIFTY Oil & Gas increased by 0.6%, and NIFTY Metal gained 0.5%. On the other hand, NIFTY Financial Services, NIFTY Realty, and NIFTY PSU Bank were the top sectoral losers, each down by 1.4%, 1.4%, and 0.9%, respectively.
The stock market’s decline today reflects a combination of geopolitical tensions, rising crude oil prices, and continued FII sell-offs. Investors remain cautious, and broader market indices continue to show weakness. Despite this, mid-cap and small-cap sectors have managed to perform better, highlighting some resilience in the face of broader market challenges.
Prominent Stocks At 52-Week Low Today
| Stock | 52-week low | 1-year return |
|---|---|---|
| Info Edge (India) | ₹982.6 | -28.56% |
| KPIT Technologies | ₹700.8 | -47.15% |
| Ambuja Cements | ₹469.40 | -5.72% |
| ACC Ltd | ₹1,502.9 | -19.48% |
| Berger Paints | ₹429.05 | -11.75% |
| Cohance Lifesciences | ₹276 | -75.95% |
| DOMS Industries | ₹2,088.5 | -23.14% |
| GMM Pfaudler | ₹868.1 | -20.41% |
| Kansai Nerolac Paints | ₹189.5 | -18.83% |
| Khadim India | ₹106.01 | -60.94% |
| Indigo Paints | ₹873.1 | -15.07% |
| Procter & Gamble Hygiene | ₹10,890 | -18.81% |
| Raymond Lifestyle | ₹809.4 | -28.78% |
| Indraprastha Gas | ₹156.1 | -16.32% |
| Raymond Realty | ₹381 | – |
