Sensex͏ Slid͏es 1,250 Points in Aft͏ernoon Trade͏, Nifty Near ͏22,450 as͏ Bank Nifty ͏F͏alls 3% and B͏road Indice͏s͏ Decline͏
By HDFC SKY | Published at: Mar 30, 2026 04:37 PM IST
Mumbai, 30 March 2026: Indian equity market͏s r͏emained under pressure in the a͏fternoon session on Monday, with ͏the BSE Se͏n͏sex fall͏ing over 1,250 points and the Nifty ͏50 hovering near 22,450, as widespread selling across ba͏nking, financial͏ and broader market indices w͏eighed on senti͏ment during the fina͏l ͏trading day of the financial ye͏ar.
The b͏enchmark͏s, which opened sharply lower, extended losses through the session, reflecting persistent weakness across sectors and conti͏nued volatility͏.͏
Nifty At 22,471, Sensex͏ Down 1.52% As 43 St͏ocks Decline
͏By ͏mid-afternoon, the Nifty 50 was͏ trading at 22,471.75, dow͏n 347.85͏ points or͏ 1͏.52%͏, while the Sensex rem͏a͏ined under press͏ure near the ͏72,500 mark. Market breadth remained weak,͏ with 43 stocks declining and only 7 advancing,͏ ͏highlighting͏ the extent of the sel͏l-off.
The͏ index tou͏ched an intraday low of 22,420, closing to its recent support levels, after opening at 22,549.65 and h͏itting a hi͏gh of ͏22,714.10 earlier in t͏he session.
Bank Nifty Drops 3.09% To 50,659 After RBI Forex Cap
The Nifty Bank index emerged as the biggest laggard, falling 3.09% to 50,659, after hitting an intraday low of 50,596.25. The decline followed the Reserve Bank of India (RBI) directive capping banks’ net open foreign exchange positions at $100 million, triggering unwinding of trades.
All 14 constituents of the Bank Nifty traded in the red. Key losers included:
State Bank of India declined over 3.02% to ₹988.70, Axis Bank fell 3.32% to ₹1,165.20, Bajaj Finance dropped 3.99% to ₹810.10, Bajaj Finserv slipped 3.06% to ₹1,642.80, while Kotak Mahindra Bank fell 3.00%. Other declines included IndusInd Bank and Union Bank of India, which fell over 4%, while AU Small Finance Bank dropped nearly 4.7%.
The sharp decline reflects the immediate impact of regulatory tightening on banking stocks, leading to sector-wide weakness.
Nifty 50 Losers Drag Index As Bajaj Finance Falls 4%
Heavyweight stocks across the Nifty 50 contributed to the decline, with financial and banking stocks leading losses. Among the top losers:
Bajaj Finance declined 4.09%, Axis Bank fell 3.44%, Bajaj Finserv slipped 3.16%, Shriram Finance dropped 3.10%, and State Bank of India declined 3.07%.
Other notable declines included HDFC Bank down 2.70%, Bharti Airtel falling 2.61%, and Tata Consumer Products declining 2.65%, indicating widespread selling across sectors.
Nifty 50 Gainers Limited As Metal Stocks Edge Up
Gains within the Nifty 50 remained limited and were largely concentrated in metal and energy stocks. Hindalco Industries rose 2.51%, Coal India gained 2.47%, ONGC advanced 1.08%, while Power Grid Corporation added 0.69%.
JSW Steel and Tata Steel also traded marginally higher, supported by rising commodity prices during the session.
Nifty IT Index Falls 1.54% As All 10 Stocks Decline
The Nifty IT index declined 1.54% to 29,086.85, with all 10 constituents trading in the red. The index touched an intraday low of 29,014.40, reflecting sustained pressure throughout the session.
Key IT stocks saw declines, with Wipro falling 1.60%, Infosys declining 1.55%, HCLTech slipping 1.55%, and TCS down 1.33%. Coforge and OFSS also registered losses of over 1.7% and 2.6%, respectively.
The sector-wide decline contributed to the overall weakness in benchmark indices.
Broader Indices Drop Up to 2.12% As Midcaps, Smallcaps Slide
Broader markets mirrored the weakness in large-cap indices, with significant declines across midcap and smallcap segments. The Nifty Midcap 100 index fell 2.06%, while the Nifty Smallcap 100 declined 2.12%.
Other indices also recorded losses, including Nifty 500 down 1.75%, Nifty 200 falling 1.72%, and Nifty Next 50 declining 1.96%. The Nifty MidSmallCap 400 index dropped 2.02%, indicating widespread selling pressure across market capitalisations.
The India VIX rose to 27.93, up 4.20%, signalling increased volatility during the session.
Sectoral Indices Fall 1–3.55% with PSU Banks Down 3.55%
Most sectoral indices traded in the red, led by banking and financial segments. The Nifty PSU Bank index declined 3.55%, while the Nifty Private Bank index fell 2.72%. The Nifty Financial Services index dropped 2.79%, reflecting pressure across lending institutions.
Other sectors also witnessed declines, including Nifty Auto down 1.64%, Nifty FMCG falling 1.39%, Nifty Consumer Durables declining 2.01%, and Nifty Realty dropping 2.34%.
In contrast, Nifty Metal rose 0.56%, while Nifty Oil & Gas gained 0.27%, supported by higher commodity prices.
Commodities Diverge As Crude At $116.70, Copper Gains ₹4.10
Global and domestic commodity trends remained mixed during the session. Brent crude oil rose 3.66% to $116.70 per barrel, nearing a 52-week high, influencing oil-linked stocks.
Copper futures increased by ₹4.10 to ₹1,171.80 per kg, up 0.35%, driven by higher spot demand. Meanwhile, gold and silver futures declined by approximately 2% and 1.32%, respectively.
Active Stocks See High Volumes Amid Market Pressure
Key stocks witnessing high trading activity included HDFC Bank, Reliance Industries, Vedanta, NALCO, and TCS. Despite strong volumes, most of these stocks traded lower, contributing to the overall decline in indices.
Among broader market movers, Delta Corp declined 6.97%, Hindustan Copper fell 6.49%, Brigade Enterprises dropped 5.74%, City Union Bank declined 5.44%, and Mahindra & Mahindra Financial Services fell 5.39%.
On the gaining side, KNR Constructions surged 9.05%, Suven Life Sciences rose 5.60%, Steel Authority of India gained 5.23%, and National Aluminium Company advanced 5.18%.
The afternoon session reflects broad-based declines across benchmark, sectoral and broader market indices, with notable pressure in banking, financial and IT segments, alongside selective gains in metals and oil-linked stocks. Commodity movements, regulatory developments, and index-level declines collectively shaped market activity during the final trading session of the financial year.
Sources
- https://www.nseindia.com/index-tracker/NIFTY%2050
- https://www.nseindia.com/index-tracker/NIFTY%20BANK
- https://www.niftyindices.com/indices/equity/sectoral-indices/nifty-auto
- https://www.niftyindices.com/indices/equity/broad-based-indices/NIFTY-Midcap-100
- https://www.niftyindices.com/indices/equity/broad-based-indices/nifty-smallcap-500
- https://www.niftyindices.com/indices/equity/sectoral-indices/nifty-oil-and-gas-index
- https://www.niftyindices.com/indices/equity/sectoral-indices/nifty-it
- https://www.bseindia.com/sensex/code/16/
- https://www.nseindia.com/
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