Synopsis
On March 13, the Indian stock markets closed lower as investors adopted a cautious approach ahead of the Holi weekend. Both Sensex and Nifty declined amid global uncertainties and sectoral sell-offs, with significant losses in the real estate and automotive sectors.Key Takeaways
- Indian stock markets ended lower ahead of Holi.
- Sensex and Nifty faced selling pressure in key sectors.
- Retail inflation drop fuels interest rate cut optimism.
- Market breadth remained negative with most stocks declining.
- Real estate sector was among the hardest hit.
Mumbai, March 13 (NationPress) The Indian stock markets concluded on a downbeat note on Thursday as investors opted against making new commitments ahead of the extended Holi weekend.
Both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will be closed on Friday in celebration of the festival.
The global market sentiment remained volatile, particularly due to apprehensions surrounding US President Donald Trump’s tariff strategies.
This uncertainty prompted investors to take a prudent stance, resulting in a lackluster trading day.
At the closing bell, the Sensex had a promising start, peaking at 74,401 in early trading. However, selling pressure in sectors like automotive, IT, and banking caused the index to retract its gains.
It hit an intraday low of 73,771 before settling 201 points lower at 73,829. Over the week, the Sensex experienced a decline of 504 points.
The Nifty mirrored this trend. After climbing to 22,558, it later dropped to 22,377, closing down 73 points at 22,397. The index wrapped up the holiday-shortened week with a 156-point loss.
Notable laggards included Tata Motors and IndusInd Bank, both witnessing a drop of nearly 2 percent.
Other underperformers were Zomato, Maruti Suzuki, Asian Paints, and Bajaj Finance. Conversely, gains were minimal, with SBI, ICICI Bank, and NTPC showing slight increases, though none exceeded 1 percent.
The broader market also concluded in the negative zone. The BSE MidCap index fell by 0.8 percent, while the SmallCap index decreased by 0.6 percent.
Market breadth was unfavorable, with nearly 60 percent of stocks on the BSE recording losses. Out of 4,105 stocks traded, 2,449 declined.
Among sectors, real estate stocks suffered the most. The BSE Realty index decreased by 1.8 percent, with firms like Godrej Properties, Oberoi Realty, Lodha, Brigade Enterprises, and Phoenix declining over 2 percent.
According to Sundar Kewat of Ashika Institutional Equity, "Domestic economic indicators significantly influenced market sentiment today."
He noted that retail inflation fell more than anticipated, dipping below the RBI’s target range for the first time in six months, igniting optimism regarding potential interest rate cuts.
