N͏i͏fty Hits New Intrada͏y Low͏ of 23,1͏83 as Losses Cross 45͏0͏ Points in Afterno͏on Trading Session

Mumbai, March 13: ͏T͏he͏ Indian equity markets ͏continued͏ t͏o experience intense͏ selling pre͏ssure on ͏Friday after͏n͏oon, with the Nifty ͏50 hitti͏ng a fresh ͏i͏ntraday ͏lo͏w o͏f 23,183, extending losses ͏b͏eyond 450 points, and͏ th͏e Sensex sl͏ipping ͏over 900 points. The mark͏et͏ ͏downturn was dr͏iven by rising crude oil prices͏, persistent͏ fore͏ign͏ capi͏tal outflows, and͏ sectoral ͏weakn͏esses, ͏parti͏cularly in me͏tal͏s͏, banking, and oil͏-sensitive͏ st͏o͏cks. The ͏Nifty B͏ank index͏, a key indicator of financial ͏secto͏r hea͏lth, ͏decli͏ned m͏ore ͏than 1,100 po͏ints, refle͏cting m͏ountin͏g concerns over͏ liquidity and sectoral corrections͏.͏

Nifty Opens 178 Points ͏Lower As Crude͏ Oil Cros͏ses͏ $100

The session͏ began with the Nifty 50 opening 17͏8 point͏s lower at͏ 23,46͏2,͏ wh͏ile the͏ Sen͏se͏x dropped 500 p͏oints to 75,488. Crude oil surge͏d past $͏1͏00 a barrel ͏after a br͏ief relief earli͏er in the week,͏ pu͏tting ͏pressure o͏n oil-sensiti͏ve se͏ctors an͏d inflation ex͏pectations. T͏he I͏ndian rupee al͏so ͏f͏ell ͏to͏ a new low agains͏t the͏ US dollar, co͏mpounding market conce͏rns. Every u͏pward movement ͏in the Nifty ͏has faced immediate͏ selling, continuin͏g th͏e trend͏ observe͏d ͏over the past for͏t͏night. Anal͏ysts noted that the techni͏cal ͏correction level for ͏Nif͏ty͏ at 23,556 is ͏a key ͏support, while resis͏tance zones betwee͏n͏ 23,800 and 24,000 rem͏ain cru͏cial for mon͏i͏toring sh͏ort͏-term recovery attemp͏ts.

Metal Stocks Fall Sharply Amid Industrial Gas Shortage Concerns

Shares of major metal companies led the losses as the market reacted to potential industrial gas shortages, crucial for metal processing. Hindustan Zinc fell over 4%, Tata Steel declined nearly 4%, NALCO dropped around 6%, and Hindalco Industries lost nearly 5%, while Steel Authority of India Limited (SAIL) also recorded a fall of more than 4%.

Despite easing international metal prices, analysts highlighted that reduced industrial demand due to gas supply constraints, exacerbated by the US-Iran war, is expected to impact production schedules and Q4FY26 earnings. Market participants are factoring in potential weak balance sheets for metal processing companies, keeping selling pressure persistent across the sector.

Banking and Auto Stocks Face Broad-Based Selling Pressure

The Nifty Bank index fell sharply by over 1,100 points, marking one of the largest sectoral corrections in recent weeks. Major banks including HDFC Bank and YES Bank were among the key decliners, alongside auto stocks such as Tata Motors Passenger Vehicles, reflecting pressure from foreign institutional investors (FIIs). While domestic institutional investors (DIIs) provided limited support, it was insufficient to offset the selling pressure. Analysts observed that banking and auto sectors have been particularly sensitive to macroeconomic volatility and rising crude prices, further weighing on investor confidence in these segments.

Most Active Stocks Include Vodafone Idea, NTPC Green, and IFCI

Trading volumes were high for several stocks, reflecting market volatility and sector-specific news. Vodafone Idea saw over 23 crore shares traded, with the stock falling nearly 3% in the session, extending its third consecutive day of losses. IFCI recorded over 14 crore shares changing hands, surging 11% despite overall market weakness, following recent developments in its debt and lending portfolio.

NTPC Green Energy, headquartered in Gurgaon and listed on the NSE, traded more than 10 crore shares, rising over 7%. The gain was attributed to the commercial operation of 270 MW third-party capacity at the Khavda-II Solar PV Project in Gujarat, part of NTPC Green Energy’s renewable initiatives. Similarly, HFCL, a leading telecommunications infrastructure company headquartered in Noida, saw over 4 crore shares traded, with its stock rising as it signed a five-year overseas supply agreement worth $1.1 billion, expected to support its high-fibre-count optical fibre cable business.

Sectoral Weakness Extends Across Auto, Consumer, And Financial Segments

The market saw broad-based declines across auto, consumer, and financial sectors, while the FMCG sector remained relatively resilient. Analysts noted that the ongoing geopolitical tensions, coupled with high crude oil prices, are likely to continue impacting industrial demand, corporate earnings, and supply chains in the near term. Key triggers include foreign selling, high commodity prices, and concerns over corporate Q4FY26 results.

Nifty and Sensex Extend Weekly Losses Amid Weak Global Cues

By midday, the Nifty 50 was trading 1.09% or 258.75 points down at 23,380.40, while the Sensex fell 1.05% or 800.76 points to 75,233.66. Both indices are on track to extend losses for the third consecutive week. For the week, the Sensex has shed around 3,800 points (nearly 5%), and the Nifty 50 has lost over 1,100 points (almost 5%), eroding significant market capitalisation. Analysts noted that the market is factoring in ongoing global uncertainties, sector-specific industrial challenges, and continued foreign capital outflows.

The Indian stock market remains under pressure due to rising crude oil prices, geopolitical tensions, and sectoral supply constraints, leading to persistent volatility. Observing benchmark levels, key support and resistance zones, and sector-specific developments can provide a clearer understanding of market movements, while macroeconomic and global triggers continue to influence trading dynamics.