Red Alert
The BSE mid-cap index dipped 0.2 percent and small-cap index 2 percent.
Indian markets stopped a two-day winning streak with Nifty below 22,350 as investors remained cautious ahead of US inflation data tomorrow.
At closure, the Sensex was down 616.75 points or 0.83 percent at 73,502.64 and the Nifty was down 160.80 points or 0.71 percent at 22,332.70.
The market began flat with a bullish bias on weak global signals, with Nifty touching a new all-time high of 22,526.60 but then reversed and went bearish. The market extended losses as sectors sold throughout the day.
Tata Consumer Products, Power Grid Corporation, Tata Steel, Bajaj Auto, and SBI were Nifty losers, while Apollo Hospitals, Nestle India, Cipla, SBI Life Insurance, and Bajaj Finserv gained.
Sectors and stocks
Auto, capital goods, FMCG, oil & gas, bank, IT, realty, metal, and power all down 0.5-1 percent.
The BSE mid-cap index dipped 0.2 percent and small-cap index 2 percent.
ABB India, Blue Star, Cipla, Colgate Palmolive, Cummins India, GE T&D India, Glenmark Pharma, Godfrey Phillip, KEC International, Kirloskar Brothers, KPIL, Lupin, Oracle Financial Services, Siemens, Torrent Power, Trent, TTK Healthcare, Waaree Renewable, Zydus Life, and nearly 200 other BSE stocks reached their 52-week highs
Stocks including Interglobe Aviation, Siemens, and Balkrishna Industries had volume spikes of 700%.
Interglobe Aviation, ICICI Prudential Life Insurance, and Apollo Hospitals had long build-ups, whereas HPCL, Vodafone Idea, and NMDC had brief ones.
March 12 forecast
The Nifty has experienced a decline, closing the day around 160 points lower. The daily charts show no follow-through buying interest after a breakout, and selling pressure at higher levels could lead to a slipping back into the consolidation zone. The Bollinger bands are contracting, indicating a range contraction. The Bank Nifty has not maintained positive momentum, and it could slip towards the 46900-46800 range. The overall trend is bullish, with an intermediate corrective phase in progress. Short-term weakness could lead to a decline towards the 22200-22250 range.
| FII Bought | 7,304.11 Cr |
| DII Bought | 2,601.81 Cr |
Indian Market Stocks
| Sensex | -616.75 | -0.83% | 73,502.64 |
| Nifty 50 | -160.90 | -0.72% | 22,332.65 |
| Bank Nifty | -507.95 | -1.06% | 47,327.85 |
Market Movers
| Apollo Hospital | 155.90 2.58% | TATA Cons. Prod | -40.90 -3.24% |
| Nestle | 50.55 1.97% | Bajaj Auto | -219.65 -2.47% |
| SBI Life Insura | 21.70 1.44% | Power Grid Corp | -7.10 -2.43% |
| Cipla | 20.95 1.41% | Tata Steel | -3.80 -2.42% |
| Bajaj Finserv | 16.00 1.01% | SBI | -14.35 -1.82% |
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The Nifty has experienced a decline, closing the day around 160 points lower. The daily charts show no follow-through buying interest after a breakout, and selling pressure at higher levels could lead to a slipping back into the consolidation zone. The Bollinger bands are contracting, indicating a range contraction. The Bank Nifty has not maintained positive momentum, and it could slip towards the 46900-46800 range. The overall trend is bullish, with an intermediate corrective phase in progress. Short-term weakness could lead to a decline towards the 22200-22250 range.
The Nifty has experienced a decline, closing the day around 160 points lower. The daily charts show no follow-through buying interest after a breakout, and selling pressure at higher levels could lead to a slipping back into the consolidation zone. The Bollinger bands are contracting, indicating a range contraction. The Bank Nifty has not maintained positive momentum, and it could slip towards the 46900-46800 range. The overall trend is bullish, with an intermediate corrective phase in progress. Short-term weakness could lead to a decline towards the 22200-22250 range.
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