The Sensex closed 201 points lower, down 0.27%, ending the day at 73,828.91, while the Nifty 50 slipped 73 points (0.33%), finishing at 22,397.20.
This marks the fifth consecutive losing session for Sensex, although the total decline over the week has been modest—just 0.7%. Nifty, on the other hand, shed 156 points this week, despite posting a 1.2% gain in March so far.
Mid and small-cap stocks continued their downward trend:
- BSE Midcap Index: Down 0.77%
- BSE Smallcap Index: Down 0.62%
The market breadth reflected the weakness—nearly 60% of stocks on BSE (2,449 out of 4,105) ended in the red.
Impact on the stock market
Among sectors, Realty stocks were the worst hit. The BSE Realty index dropped 1.8%, led by:
- Godrej Properties, Oberoi Realty, Lodha, Brigade Enterprises, and Phoenix, each losing over 2%
In the Sensex 30 pack, the top losers included:
- Tata Motors and IndusInd Bank (down nearly 2% each)
- Zomato, Maruti Suzuki, Asian Paints, and Bajaj Finance also closed in the red
Interestingly, no Sensex stock gained over 1%. The best performers were SBI, ICICI Bank, and NTPC, with gains of just over 0.5%
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| Sector/Index | Performance |
| IT & BPM sector | -0.52% |
| Healthcare sector | -0.25% |
| Oil & Gas sector | -0.43% |
| Real estate sector | -1.83% |
| PSU Bank in India | 0.43% |
Top gainers today
| Company | Price | Change % |
| Bharat Elec Share Price | 280.07 | 1.17 |
| SBI Share Price | 727.85 | 0.66 |
| NTPC Share Price | 331.90 | 0.53 |
| Cipla Share Price | 1,461.90 | 0.52 |
| ICICI Bank Share Price | 1,250.05 | 0.49 |
Top losers today
| Company | Price | Change % |
| Shriram Finance Share Price | 619.55 | -2.73 |
| Hero Motocorp Share Price | 3,529.15 | -2.25 |
| Tata Motors Share Price | 655.50 | -1.92 |
| Hindalco Share Price | 677.35 | -1.81 |
| IndusInd Bank Share Price | 672.35 | -1.80 |
Market aftermath: Impact on stocks
Tata Steel rises after JP Morgan raises target price
While the broader market struggled, Tata Steel stood tall, gaining up to 1.54%, trading at ₹152.85 on NSE by mid-morning. The positive trigger? A bullish note from JP Morgan, which maintained an ‘Overweight’ rating and raised the target price to ₹180, indicating a potential upside of over 20%.
What’s driving optimism:
- Strong recovery in European steel spreads (up 60% spot vs Q3 average)
- Expected EBITDA breakeven in European operations by FY26
- Revised EBITDA/tonne estimates for FY26/27: now at $68–70, earlier $19–27
Market Cap Update: Tata Steel now stands at ₹2 lakh crore, contributing 6.9% to the Tata Group’s market value. It’s also among the few Tata stocks delivering positive YTD returns, along with Benares Hotels (+47%) and Tata Consumer Products (+4%).
HDFC AMC dips as mutual fund flows disappoint
Not a good day for HDFC Asset Management Company. The stock fell 2.86% to ₹3,660, extending losses from the previous session. The drag came from sluggish mutual fund inflows:
- Equity MF inflows in Feb: ₹29,303 crore, down 26% MoM
- SIP inflows fell to a three-month low at ₹25,999 crore
This slump dented investor sentiment in the broader AMC space, with UTI AMC also down 0.39%, trading at ₹938.70 on NSE.
InfoBeans Technologies gains on AI partnership
One of the rare small-cap gainers today was InfoBeans Technologies, up 3% to ₹318, following its AI deal with a Canadian standards organisation. The company announced plans to implement AI-driven solutions to improve efficiency and service delivery.
This deal is significant for InfoBeans, which:
- Specialises in enterprise software and AI
- Operates across the US, Europe, and the Middle East
- Has faced a tough three-year run, with the stock down 50% in 3 years and 30% in 3 months
The announcement helped the stock bounce back modestly from recent lows.
Crude oil updates: Tariff tension weighs on prices
While equities wobbled, crude oil prices slipped slightly, weighed down by global tariff tensions and rising US inventories.
- Brent Crude (May futures): $70.90, down 0.07%
- WTI Crude (April futures): $67.57, down 0.16%
On MCX:
- March Crude Futures: ₹5,885, down 0.37%
- April Crude Futures: ₹5,891, down 0.25%
Key drivers:
- US crude inventories rose by 1.4 million barrels last week.
- Despite that, gasoline inventories dropped 5.7 million barrels, which offered some balance.
- OPEC’s latest report remains bullish on global demand—expecting 1.45 million bpd growth in 2025, slightly higher than EIA/IEA estimates.
Natural gas and agri commodities also saw declines:
- Natural Gas Futures: ₹353.40 (↓2.46%)
- Guargum Futures: ₹10,024 (↓0.28%)
- Turmeric Futures: ₹11,378 (↓0.19%)
Conclusion:
While the share market news today painted a cautious picture, it’s more about short-term uncertainty than panic. Here’s what to keep in mind:
- Global triggers like tariff tensions and US data are influencing market sentiment.
- Pre-Holi holiday may have caused muted participation, but broader fundamentals haven’t shifted drastically.
For now, it’s not a market meltdown, but a waiting game. Let’s see how investors come back post-Holi with renewed energy—or more caution.
For more stock market insights, check out the StockGro blog.
