Prime End of the Day Summary: View on Market Performance 11 March 2026

Nifty Plunges Nearly 400 Points; Hits 11-Month Low

After a one-day pause, Nifty resumed its downtrend, shedding 395 points or 1.63% to close at 23,866, its weakest closing since April 17, 2025. After opening lower by 30 points, index faced relentless selling pressure throughout the session, finishing near its intraday lows. NSE cash volumes dipped 4% compared to previous session.

In a weak market, Jio Financial, Coal India, and Sun Pharma emerged as top Nifty gainers. Banking and NBFC heavyweights like Bajaj Finance, Axis Bank, and Bajaj FinServ bore the brunt of selling as key laggards.

All sectoral indices closed in red except Nifty Pharma and Oil & Gas, with Auto, Private Banks, and Financial Services logging the steepest losses.

Broader markets showed more resilience as Nifty Midcap 100 fell 1.25% and Nifty Smallcap 100 slipped just 0.36%. Overall market breadth remained tilted toward the bears, with an advance decline ratio of 0.79.

The Indian rupee depreciated 24 paise against the US dollar amid mixed regional currency performance. Higher crude prices and tight-dollar liquidity fueled by capital outflows from domestic equity and debt markets weighed on rupee. While the central bank’s dollar supplies have helped limit losses, persistent demand from importers continues to drag the currency lower.

Today’s close of Nifty marks the lowest point in the recent downswing, underscoring rising uncertainty in Indian equities. Trend remains firmly bearish, with support placed at 23,697 and 23500. Upside resistance clusters in the 24,200– 24,300 band.