Sensex Today Tanks 735 Points | IT & FMCG Stocks Drag | 5 Reasons Why Indian Share Market is Falling

Tue, 19 Mar Closing

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After opening the negative note, Indian share markets continued the downtrend as the session progressed and ended the day weak.

Following weak global Asian stock markets after a trend reversal by the Central Bank of Japan, the Indian stock market witnessed sharp selling pressure during Tuesday deals.

At the closing bell, the BSE Sensex stood lower by 735 points (down 1%).

Meanwhile, the NSE Nifty closed lower by 242 points (down 1.1%).

Bajaj Auto, Titan and Hindalco were among the top gainers today.

TCS, BPCL and Cipla on the other hand, were among the top losers today.

A secondary market is a marketplace where securities, such as stocks and bonds, are bought and sold among investors after their initial issuance in the primary market. For more check out function of secondary market?

For a comprehensive overview of key players in the financial sector, check out list of Fin Nifty Companies.

The GIFT Nifty ended at 21,890 down by 246 points.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list.

Broader markets ended the day lower. The BSE Mid Cap ended 1.4% lower and the BSE Small Cap index ended 1.1% lower.

Sectoral indices are trading negative with socks IT sector, FMCG sector and oil & gas sector witnessing most selling pressure.

Shares of Crisil and Bharti Airtel hit their respective 52-week highs today.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

The rupee is trading at 83.04 against the US$.

Gold prices for the latest contract on MCX are trading flat at Rs 65,540 per 10 grams.

Meanwhile, silver prices are trading 0.3% lower at Rs 75,244 per 1 kg.

Here are five reasons why Indian Markets are falling today

#1 Broader Markets Selling

In the last one month, the mid-cap index has corrected more than 5.60 percent while in March 2024, the situation is more alarming. Likewise, the small-cap index has crashed by around 10 percent in the last one month.

#2 FOMC Meeting

Buzz for the US Fed rate cut has been hit badly after the hotter-than-expected US inflation data and PPI print last week. So, the market is expecting the announcement of further continuation of the higher interest rate in the upcoming US Fed's FOMC meeting.

#3 Weak Global Cues

A gauge tracking Asia's benchmarks remained on the back foot, dragged down by losses of more than 1% each in Hong Kong's technology shares and South Korean equities. Meanwhile, contracts for US shares pointed to losses.Japan's Nikkei share average swung between small gains and losses after the Bank of Japan on Tuesday announced an end to its long-running ultra-accommodative stimulus programmes, as widely expected.

#4 IT Stocks Drag

IT major TCS emerged as the top Sensex laggard, experiencing a 3% decline. This dip coincided with 2.02 crore or 0.6% shares changing hands in a block deal on the counter. Other IT counters - HCL Tech, Wipro and Infosys - also traded with cuts, weighing on the index.

#5 Oil on Boil

Oil prices edged down early on Tuesday after gaining in the previous trading session, due in part to the prospect of rising supply from Russia as well as the possibility of slower-than-expected downstream demand in sectors such as jet fuel. Despite the dip, Brent crude remains above $86 per barrel.

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Co-head of Research at Equitymaster, Rahul Shah show how you can use a simple back-of-the-envelope calculation to decide whether a stock can be considered for investment or whether it should be rejected, in his latest video.

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Why Patanjali Foods Share Price is Falling

In news from the FMCG sector, the Supreme Court has asked Baba Ramdev and Acharya Balkrishna to appear personally before the court to respond to contempt proceedings initiated for continuing to run misleading advertisements that claimed to permanently cure several diseases.

The Court also noted that Patanjali continued misleading advertisements despite the assurance given by Patanjali's counsel last November before the Court that it would refrain from making such advertisements.

In February, the apex court issued a contempt notice against Patanjali Ayurved and its Managing Director Acharya Balkrishna for publishing advertisements of products in violation of the Drugs and Magic Remedies (Objectionable Advertisements) Act, 1954 and its Rules.

In November 2023, the apex court reprimanded Patanjali Ayurved for continuing to publish misleading claims and advertisements against modern systems of medicine. Justice Amanullah went on to issue a stern warning of imposing a sum of Rs 10 m in case such advertisements are continued.

The IMA filed the writ petition, raising concerns over what it termed a "continuous, systematic, and unabated spread of misinformation" regarding allopathy and the modern system of medicine. The petition also asserted that Patanjali's misleading advertisements disparage allopathy and make false claims about curing certain diseases.

For more details, check out Why Patanjali Foods Share Price is Falling.

RPP Infra hits upper circuit. Here's why

Moving on to news from the engineering sector, the RPP Infra Projects share was locked in a 5% upper circuit in the early trade on 19 March after the company announced receiving a Rs 94.13 crore order from State Industries Promotion Corporation of Tamilnadu Limited (SIPCOT).

The company has been requested to remit the security deposit amount of Rs 14 m for the due fulfilment of this contract in the shape of a demand draft / irrevocable bank guarantee with validity for a contract period + one year and a claim period for a further three months as a security deposit for the due fulfilment of this contract.

The period of completion of work will be 11 months from the date of handing over of the site.

Failure to commence the work, produce the security deposit, and sign the agreement shall entail cancellation of the work order with forfeiture of EMD paid by the company.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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Indian Share Market Update: Top Gainers and Losers