At 12.30 pm, the BSE Sensex was trading at 72,530.32, down 1,052.90 points or 1.43 per cent from its previous close of 73,583.22, while the NSE Nifty 50 was at 22,514.75, lower by 304.85 points or 1.34 per cent from its previous close of 22,819.60.
Breadth on the BSE told the full story of the selloff. Of 4,394 stocks traded, only 907 advanced against 3,302 declines, with 185 unchanged.
A total of 1,229 stocks hit 52-week lows, compared to just 52 at 52-week highs. Stocks in lower circuit numbered 319, against 113 in upper circuit, reflecting the extent of selling pressure across the broader market.
The trigger remains unchanged: fresh Houthi missile strikes on Israel over the weekend have widened the US–Iran–Israel conflict into its fifth week, driving Brent crude above $115–116 per barrel intraday.
Ponmudi R, CEO of Enrich Money, noted that “any signs of de-escalation or moderation in oil prices could trigger relief bounces, while further escalation may increase the risk of a deeper correction.”
The rupee remained under strain, with the USD/INR pair trading near 93.8, pulling back slightly from a recent high of 94.96 following RBI intervention, though the broader structure remains under pressure.
MCX Crude Oil was trading at the ₹9,600 resistance band, with US Oil consolidating near $101.5 after testing the $103 mark.
Banking and financial stocks led the decline. Bajaj Finance was the top loser, falling 3.85 per cent to ₹811.30 against a previous close of ₹843.80.
Axis Bank dropped 3.27 per cent to ₹1,165.80 from ₹1,205.20. SBI Life Insurance fell 3.03 per cent to ₹1,781.90 against a previous close of ₹1,837.60, while State Bank of India slipped 3.00 per cent to ₹988.90 from ₹1,019.50. Shriram Finance declined 2.97 per cent to ₹877.00 against a previous close of ₹903.80.
On the gainers’ side, commodity and energy-linked names stayed afloat. Hindalco Industries rose 3.07 per cent to ₹893.30 from a previous close of ₹866.70, while Coal India gained 2.98 per cent to ₹458.30 against ₹445.05.
ONGC added 1.38 per cent to ₹285.85 from ₹281.95. BEL edged up 0.33 per cent to ₹406.10, and Power Grid was marginally higher at ₹295.75 against a previous close of ₹295.50, up 0.08 per cent.
In commodities, COMEX Gold was hovering in the $4,500–$4,600 band, with MCX Gold trading above the ₹1,46,000 support level.
COMEX Silver was above the $68–$70 band, while MCX Silver held above ₹2,26,000. Ponmudi R noted that a move above $4,650 in COMEX Gold “could extend the rally toward $4,750–$4,800,” while MCX Gold faces resistance at the ₹1,49,000–₹1,50,000 zone.
Technically, Nifty 50 opened with a gap-down near 22,579 and tested lows around 22,470. Ponmudi R said “holding above 22,500 may trigger short-covering bounces” but warned that “an inability to move above 22,800 could keep the downside bias intact.”
Bank Nifty opened sharply lower near 51,592, slipping below 51,000, with support seen at 50,700–50,600 and resistance at 51,600 and 52,200.
With roughly tsome time left in the session and today marking the monthly Nifty expiry — ahead of Tuesday’s market holiday for Sri Mahavir Jayanti — traders face a volatile close driven by position unwinding, global cues, and crude oil direction.
Published on March 30, 2026