Indian equities experienced a significant downturn today, reflecting broader negative global cues. The Nifty 50 closed at 23,639.15, marking a decline of 0.95%, while the Sensex ended at 76,034.42, down 1.08%. This fall was influenced by a sharp rise in crude oil prices, which spiked to $100 per barrel, coupled with negative signals from international markets, including GIFT Nifty trading in the red, Nikkei down 1.6%, and Dow Futures sliding 400 points.
Sectoral performance was mixed, with select stocks providing some support against the broader market decline. Notable gainers included COALINDIA, NTPC, POWERGRID, ADANIENT, and TECHM. Conversely, several heavyweights exerted downward pressure on the indices, with BAJFINANCE, MARUTI, EICHERMOT, M&M, and INDUSINDBK being among the top drags.
Institutional flows indicated a continuation of selling pressure from foreign investors. On March 11, Foreign Institutional Investors (FIIs) were net sellers in the equities market, divesting Rs 6,267 crore. Domestic Institutional Investors (DIIs), however, provided some counterbalance by net buying equities worth Rs 4,966 crore on the same day.
