Bears Gain Upper Hand as Nifty Falls Below 22,350 and Sensex Drops 1,636 Points

Market Update: Indian Benchmark Indices Extend Decline

March 30, 2026

The Indian benchmark indices extended their decline for the second consecutive session, with the Nifty 50 closing below the 22,350 mark amid broad-based selling. The market began the week on a negative note, weighed down by weak global cues, rising crude oil prices, and escalating geopolitical tensions.

Key Indices

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• Sensex: Down 1,635.67 points or 2.22% at 71,947.55
• Nifty: Down 488.20 points or 2.14% at 22,331.40
• Nifty Midcap: Down 2.6%
• Nifty Smallcap: Down 2.6%

Market Capitalisation

The market capitalisation of BSE-listed companies declined by Rs 9.55 lakh crore to Rs 412.59 lakh crore against Friday's Rs 422.15 lakh crore.

Currency

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The Indian rupee failed to hold on to its opening gains and crossed the 95 mark for the first time, hitting a record low of 95.12. It eventually ended nearly flat at 94.83 per dollar against Friday's close of 94.81.

Sectoral Performance

All sectors ended in the red, with auto, FMCG, consumer durables, capital goods, telecom, reality, private bank, and PSU bank down by 2-4%.

Top Losers

• Bajaj Finance
• Axis Bank
• Bajaj Finserv
• State Bank of India
• InterGlobe Aviation

New Listing

Central Mine Planning & Design Institute (CMPDI), a subsidiary of Coal India, ended 10% lower at Rs 154 after making a weak market debut, listing at a discount of around 7% to its initial public offer (IPO) price.

Outlook for April 1

While the market seems to be finding support just above the rising trendline on the daily chart, another interesting formation is creating a silver lining — a hidden positive divergence on the daily RSI. Therefore, a decent recovery from Wednesday is possible. However, 22,200 is likely to act as a crucial support level, and a significant rally might emerge from there.