Indian Stock Market Suffers Significant Decline; Over 850 Stocks Reach 52-Week Lows, Sensex Falls Over 2,000 Points in Three Trading Sessions

Market Update: Sensex and Nifty 50 End Lower on 2 March

The Sensex benchmark index closed at 80,238.85, down 1,048 points (or 1.29%) from the previous session, marking its third consecutive decline. The Nifty 50 index settled at 24,865.70, down 313 points (or 1.24%).

Market Capitalization and 52-Week Lows

In the past three sessions, the Sensex has lost 2,037 points (or 2.5%), resulting in a cumulative market capitalization drop of over ₹10 lakh crore to ₹457 lakh crore from ₹467.4 lakh crore on Wednesday, 25 February. A total of 869 stocks hit their 52-week lows on the BSE, including:

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• TCS
• ITC
• Trent
• Wipro
• Coforge
• Dixon Technologies
• Info Edge (India)
• Shree Cement
• SRF
• Suzlon Energy
• United Spirits

Additional stocks that hit their 52-week lows in intraday trade include Abbott India, Adani Total Gas, Bajaj Housing Finance, and Berger Paints India, among others.

Gainers and Losers

In the Sensex index, only three stocks - BEL (up 2.09%), Sun Pharma (up 0.84%), and ITC (up 0.38%)- ended higher. The top losers included InterGlobe Aviation (IndiGo) (down 6.25%), Larsen and Toubro (down 5%), and Adani Ports (down 3.33%).

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Market Outlook

Analysts attribute the market's weakness to rising geopolitical tensions in the Middle East and concerns over potential disruptions to oil supply, which could increase inflationary pressures in India and impact fiscals and strain margins for energy and chemical-dependent sectors. However, some experts believe the market is oversold and may experience a technical bounce-back from current levels.