Stock Market Plunge Continues, Over 1,500 Stocks Reach 52-Week Lows Amid Sensex's 1,636-Point Slide

Market Report: March 30, 2024

Key Statistics:

• Sensex: -1,636 points, or 2.22%, at 71,947.55
• Nifty 50: -488 points, or 2.14%, at 22,331.40
• Mid-cap indices: -2.5% on the BSE
• Small-cap indices: -2.5% on the BSE

Market Analysis:

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The domestic equity market continued to decline on March 30, amid concerns over the US-Iran war, rising crude oil prices, and India's deteriorating macroeconomic outlook. The benchmark indices, Sensex and Nifty 50, crashed 2.22% and 2.14% respectively, while the mid and small-cap indices on the BSE plunged 2.5% each.

Sectoral Performance:

• Banking and financial stocks: -3% on the BSE
• Consumer discretionary: -2% on the BSE
• Industrials: -2% on the BSE
• IT: -2% on the BSE

Stocks Hitting 52-Week Lows:

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• Over 1,500 stocks hit their 52-week lows on the BSE, including TCS, ITC, HDFC Bank, ICICI Bank, and Kotak Mahindra Bank.

Stocks Hitting 52-Week Highs:

• 64 stocks, including Ather Energy, Dhampur Bio Organics, and Jain Resource Recycling, hit their 52-week highs on the BSE.