Piramal Pharma, Tejas Networks, Apollo Tyres and PG Electroplast Among Top Losers on March 12

Indian Stock Market Extends Losing Streak for Second Straight Session

On March 12, the Indian stock market continued its downward trajectory, with key averages falling 1%. The Nifty 50 closed at 24,639, its lowest level since April 2025, while the S&P BSE Sensex dropped 1.08% to 76,013.

The broader markets outperformed the benchmark indices, with the Nifty Midcap 100 falling 0.37% and the Nifty Smallcap 100 dropping 0.67%. Auto stocks led the losses, with the Nifty Auto crashing 3.32%, taking its month-to-date crash to 11%. Other sectors, including FMCG, Private Bank, and Realty, also fell over 1%.

Piramal Pharma was the worst performer, falling 6.36% to Rs145.54 apiece, marking its lowest level since June 2024. Tejas Networks and IndusInd Bank also led losses, falling 6.23% and 5.22%, respectively.

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Auto stocks, including TVS Motor Company, Mahindra & Mahindra, and Eicher Motors, witnessed selling pressure, falling over 3%. In the FMCG space, Varun Beverages and Colgate-Palmolive dropped 4.7% and 4%, respectively.

On the winning side, power and renewable energy stocks outperformed the broader market. NTPC Green Energy, Adani Power, and JSW Energy surged between 4% and 12.6%. CEAT and Adani Total Gas also remained higher, surging 7% and 7.2%, respectively.

Key Figures:

• Nifty 50: 24,639
• S&P BSE Sensex: 76,013
• Piramal Pharma: Rs145.54
• Tejas Networks: ₹442.95
• IndusInd Bank: ₹831.35

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