Bears Return to Market: Nifty Below 22,550 as Sensex Suffers 1,837 Point Loss, Rupee Hits Fresh Low

Indian Equity Indices Under Pressure on March 23

The Indian equity market experienced a decline on March 23, with the Nifty falling below 22,500 intraday for the first time since April 9, 2025. The market opened gap-down and witnessed extended selling, dragging the Nifty to an intraday low of 22,471.25.

Key Statistics:

• Sensex: down 1,836.57 points or 2.46 percent at 72,696.39
• Nifty: down 601.85 points or 2.60 percent at 22,512.65
• Market Capitalisation: fell by more than Rs 14 lakh crore to Rs 414.75 lakh crore on March 23 against Rs 429.11 lakh crore on Friday

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Sectoral Performance:

• Realty, Capital Goods, Consumer Durables, Metal, Telecom, PSU Bank: shed 4-5%
• Auto, Energy, Media, Private Bank, Oil & Gas: down 3% each

Stock-Specific Performance:

• DCX Systems: added 4% after receiving a purchase order worth Rs 563.5 crore
• Ashok Leyland: slipped 4% after BNP Paribas downgraded to 'neutral'
• Waaree Energies: declined more than 3% after CEO resignation

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52-Week Lows:

• Over 1000 stocks touched their 52-week low, including IDBI Bank, Petronet LNG, Aditya Birla Fashion, Relaxo Footwear, Sterling Wilson, New India Assurance, Inox Wind, PCBL Chemical, Gujarat State Petro, Gravita India, Lodha Developers, Network 18, BLS International, Interglobe Aviation, HPCL, Gujarat Gas, Wockhardt, REC

New Listing:

• Innovision: ended 28 percent lower at Rs 372.80 after a weak debut on the exchanges.

Outlook for March 24:

• Nifty is expected to face resistance at 22,700-22,800 levels and may decline to 20,200-20,800 levels in the near term.