Sensex Falls 1͏,͏352 P͏oi͏nts As Cru͏de Oil͏ Surges; Nifty Ends͏ at ͏24,028 Amid Broad Market Se͏l͏l-Off 

Mumbai, March 9: Indian equity benchmarks clos͏ed sha͏rply͏ lower͏ on Monday, extending los͏s͏e͏s ami͏d a s͏urg͏e in glo͏bal cr͏ud͏e oil prices and͏ heigh͏ten͏ed ͏geopo͏litical tens͏ions. The BSE ͏Sensex declin͏ed 1͏,352.74 points or 1.͏71% to ͏settle at͏ 77,566.16, while the NSE Nifty 50 d͏ropped ͏422.40 poi͏n͏t͏s or 1.73% to close at 24,028.05 after ͏recovering from deeper in͏traday losses. 

Marke͏ts ͏opened sharply lowe͏r a͏nd remained un͏der pres͏sure through most of the session as gl͏obal dev͏elopments pushed crude oil prices higher͏ an͏d weighed on domestic equities. However, benchmark ͏in͏dices trimmed part of their losses to͏wards the c͏losing bell͏ a͏s crude ͏price͏s cooled f͏rom in͏traday hi͏ghs. 

Sensex͏ at 77,566; Nif͏ty 50 Closes at 24,028 

During͏ the sessi͏on, the Sense͏x touch͏e͏d an͏ intr͏aday low of 76,424.55, be͏fore recovering part͏ia͏l͏ly to close at 77,56͏6.16, st͏ill͏ down 1,35͏2.74 points or 1.71% from the previous cl͏os͏e. Similarly, the Nifty 50 fell to a day͏’͏s low ͏of 23͏,6͏97.80͏, but pared losses to end the sessio͏n a͏t 24,02͏8.05, marking a declin͏e ͏of 422.40 points ͏or 1.73% 

Despite the recovery towards the close, both benchmark indices remained significantly lower for the day, reflecting continued selling pressure across several sectors of the market. 

Bank Nifty Drops 3.05% to 56,019 as Financial Stocks Weaken 

Banking stocks contributed significantly to the broader market decline during the session. The Nifty Bank index fell 1,763.45 points or 3.05% to close at 56,019.80, reflecting losses across major banking stocks. 

The weakness extended across financial services companies as well. The Nifty Financial Services index declined 766.15 points or 2.87% to 25,886.30, highlighting broad-based declines in lenders and financial institutions during the trading session. 

Midcap and Smallcap Indices Fall Around 2% 

Broader market indices underperformed the benchmark indices during Monday’s trading session. The Nifty Midcap index declined 1.97%, while the Nifty Smallcap index fell 2.22%, indicating stronger selling pressure across mid-sized and smaller companies. 

The Nifty Midcap 100 dropped 1,458.05 points to 55,935.30, while the Nifty Smallcap 100 declined 422.40 points to 16,076.50 by the closing bell. The weakness across broader indices reflected the widespread nature of the sell-off across the equity market. 

Auto and Banking Stocks Lead Sectoral Declines 

Sectoral indices ended largely in negative territory. The Nifty Auto index emerged as the worst-performing sector, falling 4.10% to 25,965.95, followed by declines across several other sectoral indices. 

Indices representing capital goods, consumer durables, metals, PSU banks, oil & gas and private banks also recorded declines ranging between 2% and 4% during the session. In contrast, the Nifty IT index managed to close marginally higher at 30,162.05, rising 0.08%, making it the only sectoral index to end in positive territory. 

Wipro Gains While Auto Stocks Lead Nifty Losses 

Among individual stocks within the Nifty 50 index, Wipro emerged as the biggest gainer, rising 1.71% to ₹198.75 during the session. Other stocks that ended higher included Sun Pharmaceutical Industries, Apollo Hospitals, Reliance Industries and Infosys. 

On the losing side, several auto and manufacturing stocks witnessed significant declines. Tata Motors Passenger Vehicles fell 5.35% to ₹332, while Maruti Suzuki, Mahindra & Mahindra, UltraTech Cement and Eicher Motors were also among the major losers on the index. 

BSE Market Capitalisation Falls Over ₹8 Lakh Crore 

The decline in equity prices resulted in a sharp reduction in the overall market value of listed companies. The market capitalisation of BSE-listed firms fell by more than ₹8 lakh crore, bringing the total valuation to approximately ₹441 lakh crore by the end of the session. 

The sell-off was widespread across the market, with 3,467 stocks declining compared with 742 advancing stocks out of 4,381 traded on the BSE during the session. 

Over 850 Stocks Hit 52-Week Lows Amid Broad Decline 

The sharp fall across equities pushed a large number of stocks to their lowest levels in a year. More than 850 stocks touched their 52-week lows during the trading session. 

Companies hitting their yearly lows included Swan Corp, InterGlobe Aviation, Gujarat Narmada Valley Fertilizers & Chemicals (GNFC), PNB Housing Finance, Birla Corporation, BLS International, Sterling and Wilson Renewable Energy, RHI Magnesita, Just Dial, Asian Paints, Nuvoco Vistas, REC, Berger Paints, JK Lakshmi Cement, Rashtriya Chemicals and Fertilizers, GAIL and Inox Wind, among several others. 

Crude Oil Above $100 and Global Tensions Weigh On Markets 

The decline in Indian equities coincided with a sharp rise in global crude oil prices. Brent crude futures were trading 12.59% higher at $104.35 per barrel, after touching an intraday peak of $120 per barrel earlier in the session. 

The surge in crude oil prices followed escalating tensions linked to the United States–Iran conflict, raising concerns about possible disruptions to energy supplies, including shipments through the Strait of Hormuz, a key global oil transit route. 

Rising geopolitical risks and volatility in commodity markets influenced trading across global equities, with several Asian benchmark indices also witnessing sharp declines during the day. 

Indian equity markets closed lower on 9 March 2026, with the Sensex ending at 77,566.16, down 1,352.74 points, and the Nifty 50 settling at 24,028.05, down 422.40 points. Broader market indices declined around 2%, while sectoral indices such as auto and banking recorded sharper losses. The session coincided with a surge in global crude oil prices above $100 per barrel and widespread declines across domestic equities.