Mumbai (Maharashtra) [India], March 11 (ANI): Domestic stock markets on Tuesday witnessed a high volatile session and ended the day flat, witnessing a trend of buying at low by market participants.
At the end of trading, the BSE Sensex stood at 74,102.32, down 12.85 points or 0.02 per cent, the Nifty 50 at 22,497.90, up 37.60 points or 0.17 per cent.
Despite the shaky start, Nifty demonstrated resilience, erasing losses and trending higher throughout the session.
Major gainers on National Stock Exchange (NSE) were Trent, Sun Pharma, ICICI Bank, Shriram Finance, BPCL while the IndusInd Bank, Infosys, Bajaj Finserv, Power Grid Corp, M&M remained the major losers during the trading hours.
In sectoral indices, metal, realty, telecom, oil and gas rose 0.5-3 per cent, while auto, IT, bank fell 0.5 percent each.
On BSE, the Midcap index was up 0.6 per cent, while smallcap index witnessed a decline of 0.7 per cent.
Observing the markets, Sundar Kewat, Technical and Derivatives Analyst, Ashika Institutional Equity said, “The gap-down opening was primarily influenced by global market sentiment after Goldman Sachs lowered its 2025 U.S. GDP forecast from 2.4 per cent to 1.7 per cent, citing a weaker economic outlook. This triggered a broad-based sell-off in global and Asian markets.
Among individual stocks, IndusInd Bank remained in focus as it plunged 26 per cent to a 52-week low of Rs 648 following the discovery of accounting discrepancies in its derivatives portfolio. The bank reported inconsistencies amounting to Rs 15.3 billion, or 2.35 per cent of its net worth, raising concerns over potential losses in Q4FY25.
Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates Ltd said that the the Indian equity markets opened with a gap down as U.S. stock markets experienced significant declines, primarily due to escalating recession fears and ongoing trade tensions.
“The administration’s aggressive tariff policies, particularly the trade war with Canada, have heightened economic uncertainty. Following this, Nifty opened with a gap down and witnessed volatility in the first half. However, the index recovered thereafter and finally settled the day on a flat to positive note at 22,498,” he added. (ANI)
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