Mumbai (Maharashtra) [India], March 12 (ANI): Indian stock markets continue to follow the trends of previous session on Wednesday and ended flat in the volatile session, as investor’s sentiment impacted by the concerns such as overvaluation, threats of tariff war, and currency depreciation.
At the end of today’s trading session in the Indian markets, the BSE Sensex stood at 74,029.76, down 72.56 points or 0.10 per cent and the Nifty at National Stock Exchange was down 27.40 points or 0.12 per cent at 22,470.50.
At NSE, the gainers were IndusInd Bank, Kotak Mahindra Bank, Tata Motors, ITC, Bajaj Finance while the stocks of Infosys, Wipro, Tech Mahindra, Nestle, TCS remained the top losers. At BSE, both BSE Midcap and smallcap indices down around 0.5 per cent each.
Sectorally at NSE, auto, bank, pharma saw an up of around 0.5 per cent each. On the other hand metal, IT, realty, telecom, PSU Bank, media were down 0.5-3 per cent.
The domestic benchmark index, Nifty, opened on a positive note on Wednesday, but following initial volatility, the index experienced selling pressure and settled on a negative one at 22,471.
The volatility index, India VIX, cooled off by 2.70 per cent to 13.69, indicating a drop in market volatility.
The Bank Nifty index opened on a positive note, maintained buying interest throughout the day, and settled higher at 48,057.
“The initial selloff was driven by concerns over global trade policies following President Trump’s warning about potentially doubling tariffs on Canadian steel and aluminum, which weighed on investor sentiment,” said Sundar Kewat, Technical and Derivatives Analyst, Ashika Institutional Equity.
Observing the markets, Bajaj Broking Research team in a note added, “Buying interest emerged near yesterday’s low, allowing the index to recover most of the losses and close marginally lower by 0.12 per cent at 22,470.50. The broader market showed a corrective bias, with the Nifty midcap and small-cap indices ending the session down by 0.6 per cent and 0.3 per cent, respectively. Key economic indicators, including CPI data for the US and India, along with India’s IIP data, are set to be released today after the market closes.”
“Analysis suggests that the ongoing correction is not purely price-based but due to concerns such as overvaluation, GDP contraction, trade deficits, threats of tariff war, and currency depreciation. Investors who have missed the previous opportunity should focus on accumulating value stocks, while existing investors should hedge their portfolios and remain invested as the markets will eventually recover,” said VLA Ambala, Co-Founder of Stock Market Today observing the stock markets. (ANI)
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