March 18: 5th day in a row; Sensex breaks 585 points

The Indian stock market closed in the red mark on March 18 with great weakness. It was also the 5th consecutive day of decline in the market. The benchmark indices BSE Sensex and NSE Nifty closed down around 1.1%. A big trend of profit booking is being seen in the concerns of Corona among investors. IT sector stocks broke the most.

The Sensex has come down to 49,250 due to a big fall. Similarly, the Nifty also closed at around 14,550.

The big things about the business of March 18

The BSE Sensex fell by 585 points. At the same time, the NSE Nifty lost 163 points.

At the time of closing the market, 10 stocks in 30 of the Sensex pack were in green mark. 50 shares of the Nifty pack were broken.

The IPO of Kalyan Jewelers has been subscribed 2.54 times on the last day at 3.49 am.

The IPO of Najara Technologies was subscribed 8.5% by 2: 54 minutes on the second day. The subscription to retail quota is 35.11 times the highest ever.

The IPO of Suryoday Small Finance Bank was subscribed 0.82% by 3: 44 minutes on the second day of the issue. This issue will be open to investors till March 19.

The Nifty Smallcap 100 and Midcap 100 indices also saw a major decline. Both indices lost nearly 1.3%.

The Volatility Index (VIX) is down 20.08 after a fall of 0.40%.

Market movements

Nifty

Open – 14,855.50
Close – 14,557.85
Change- (-1.11%)
High – 14,875.20
Lo- 14,478.60

Sensex

Open – 50,161.25
Close – 49,216.52
Change- (-1.17%)
High – 50,296.35
Lo- 48,962.36

What was the reason for the decline in the market?

Due to the ever increasing cases of Corona, the trend of profit booking continues in the investors. The US Fed’s indication of keeping interest rates at zero until at least 2023 also did not significantly affect investors. There has been a slight rise in the bond yield in the US. Foreign investors (FII) have made a small purchase in the market in the last 2 days. But selling by domestic institutional investors (DII) and retail investors continues. Byers had a clear grip on the market in the last hours amid mixed signals from overseas markets.

Which sector did how well?

On March 18, most sector-based indices of the Nifty closed in the red mark. The IT index closed down around 3%, being the weakest. While the decline in the Bank, Financial Services Index was around 1%, the FMCG, metal and auto sectors closed flat. The pharma index weakened 2.32%, while the realty and energy index weakened about 1.5%.

Nifty-50 shares seen the fastest in these stocks

ITC (+ 3.99%)
Bajaj Auto (+ 2.94%)
Hindalco (+ 1.95%)
Grasim (+ 1.82%)
Bharti Airtel (+ 1.50%)

Nifty-50 shares broken

HCL Tech (-3.47%)
Infosys (-3.26%)
Divis Labs (-3.00%)
Dr. Reddy (-2.89%)
Hero MotoCorp (-2.45%)

Stocks that are most active

According to Value, Tata Motors, ITC and Reliance were the three most active stocks in the Nifty. At the same time, stocks of ITC, Tata Motors and SBI dominated by volume.

What are the signs for next

The market will be affected by FII investment, signals from foreign markets, corona and news related to bond yields. Investors should be careful in the market and only trade in good stocks.