Equity markets witnessed a sharp sell-off on Friday, with benchmark indices tumbling in intra-day trade amid escalating geopolitical tensions in West Asia, a surge in crude oil prices and sustained weakness across global markets. Persistent foreign fund outflows and a sharp depreciation in the rupee further dented investor sentiment, triggering broad-based selling across sectors.
BSE Sensex plunged as much as 1,580 points from the previous close during the session, while the Nifty 50 dropped 527 points. At 2.08 pm, the Sensex was trading 1,395.55 points or 1.84 per cent lower at 74,638.87, and the Nifty 50 declined 465.50 points or 1.97 per cent to ₹23,173.65.
BSE Sensex down close to 1,580 pts; Nifty 50 over 500 pts on oil, global jitters.
Metal, auto, PSU banks slide; Bank Nifty falls 2.5 per cent.
Tata Consumer, Hindustan Unilever lead Nifty 50 gainers; Larsen & Toubro, Hindalco and Tata Steel drag.
The sell-off intensified across the broader markets, with midcap and smallcap indices falling up to 2.5 per cent. Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments emphasized that many mid and smallcaps have corrected steeply from their recent highs. The valuations of this segment have now become fair.
Bank Nifty also slipped nearly 2.5 per cent, reflecting weakness in frontline banking stocks. All sectoral indices remained in the red, with metal, auto, PSU bank and chemical stocks leading the decline, falling 3–4 per cent.
Currency and commodity market movements added to the pressure. The Indian rupee hit a fresh all-time intra-day low of 92.44 against the US dollar, while Brent Crude traded higher amid fears of supply disruptions.
Investors also reacted to macroeconomic data showing a rise in retail inflation. India’s retail inflation accelerated to 3.21 per cent in February compared with 2.74 per cent in the previous month, mainly driven by higher food prices, according to government data released a day earlier.
TCP, HUL lead Nifty 50 gainers, L&T, Hindalco, Tata Steel fall
Among benchmark constituents, only a handful of stocks managed to stay in positive territory, including Tata Consumer Products, Hindustan Unilever, Bharti Airtel and Trent.
On the losing side, Larsen & Toubro, Hindalco Industries, Tata Steel, Tata Motors Passenger Vehicles, Eicher Motors and Bharat Electronics emerged as major laggards.
Market breadth remained sharply negative, reflecting widespread selling pressure across the broader market. A total of 3,191 stocks were traded on the National Stock Exchange at the time of writing, of which only 476 advanced while 2,624 declined and 91 remained unchanged. Weak sentiment was also visible in momentum indicators, with just 16 stocks hitting their 52-week highs compared with 382 stocks that slipped to their 52-week lows.
In addition, 38 stocks were locked in the upper circuit limit, whereas 74 stocks hit the lower circuit.
Midcap & smallcap movers
In the midcap segment, gains were seen in Muthoot Finance, NTPC Green Energy and Adani Total Gas, which rose 1–2 per cent. However, sharp declines were recorded in Blue Star, National Aluminum Company, Mahindra & Mahindra Financial Services and Bharat Forge, which tumbled 5–6 per cent.
Among smallcap stocks, IFCI rallied around 6 per cent. In contrast, Five-Star Business Finance, Mangalore Refinery and Petrochemicals, Devyani International, Hindustan Copper and Welspun Corp fell 5–7 per cent.
On the BSE, strong buying interest was seen in Zydus Wellness, ACME Solar Holdings, L&T Technology Services and IFCI, which surged 6–13 per cent. Meanwhile, KPR Mill, CEAT , Sapphire Foods India and Five-Star Business Finance declined 7–9 per cent amid heavy selling pressure.
Stocks in sectors like digital platform companies, defence, pharmaceuticals and financials look attractive. Midcap IT stocks offer contra buying opportunities, according to Vijayakumar.
Published on March 13, 2026