Market Plunge Sends Shockwaves: More than 1,100 Stocks Hit Lower Circuit

Market Plunge Sends Shockwaves: More than 1,100 Stocks Hit Lower Circuit

On March 14, benchmark indices experienced a significant decline of over one percent, rattling investors as the market saw more than 1,100 stocks hitting the lower circuit. The Sensex, in particular, closed below the crucial 73,000 mark, settling at 72,762, marking a decrease of 1.2 percent. According to BSE data, out of the 3,976 stocks traded, a staggering 88 percent (3,512) witnessed a decline, while only 404 managed to advance. Within this market turmoil, 253 stocks plummeted to their 52-week lows. Meanwhile, the Nifty also faced downward pressure, concluding below the 22,000 threshold at 21,998, marking a decline of 1.5 percent.

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Top Nifty Losers: Adani Ports, Coal India, and Power Grid Corporation

Leading the pack of Nifty losers were Adani Ports, Coal India, and Power Grid Corporation, each witnessing a substantial loss of over 7 percent in value.

Nifty Midcap 100 and Nifty SmallCap 100 Downturn

The downturn wasn’t limited to the primary indices as both the Nifty Midcap 100 and Nifty SmallCap 100 also witnessed significant declines of 4.4 percent and 5.3 percent, respectively. Over the past week, these indices have collectively shed 5.9 percent and 8.2 percent of their value.

Investor Activity Amid Market Turmoil

During the market crash, Foreign Portfolio Investors (FPIs) were observed selling shares worth ₹4,595 crore, whereas domestic institutions took the opportunity to buy shares worth ₹9,093 crore, as per available data.

Also Read : Dollar Tree (NASDAQ: DLTR) Shares Drop in Pre-Market Trading

Global Market Dynamics: Mixed Trends Prevail

Contrary to the previous day’s optimism fueled by a record rally on Wall Street, global shares experienced mixed trends on March 13, with trading remaining muted. This optimism gradually waned, contributing to the uncertainty in the markets. Investors worldwide are now awaiting a series of economic indicators due this week, including producer prices and retail sales figures. Additionally, anticipation surrounds the US Federal Reserve’s rate-cut path. Among Asian peers, the Straits Times index emerged as the top performer, registering a gain of 0.6 percent.

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