Post-Market 12 March 2026: Dalal Street Slides; Nifty Near 23,600 Amid Global Tensions

Indian equity benchmarks ended lower on Thursday, 12 March, extending the weakness seen in the previous session. Selling pressure remained visible across several sectors as rising crude oil prices and tense global cues kept investors cautious through the day.

By the close, both major indices had slipped close to 1%.

Today's Market Recap

The Sensex fell as much as 992.53 points during intraday trading, reaching a low of 75,871.18. Before reducing some losses, the Nifty also fell to 23,556.30, its lowest point of the day.

The rebound was limited by fresh selling pressure that surfaced late in the session. Eventually, the index finished close to 23,639.15, indicating that market participants were still cautious.

Thursday’s fall also came after the benchmarks had declined roughly 1.7% in the previous session, highlighting the fragile mood in the market.

Sectoral Pressure

Auto stocks were among the hardest hit. The Nifty Auto index has declined more than 6% over the past two sessions, with companies such as Mahindra & Mahindra, Maruti Suzuki and Eicher Motors among the notable laggards.

Banking stocks also weighed heavily on the market. The Nifty Bank index fell 634.80 points to 55,101.95, reflecting caution in financial stocks.

Among individual companies, Larsen & Toubro shares dropped nearly 3%, while Colgate-Palmolive India declined more than 10% over the past two sessions. Food delivery companies Eternal and Swiggy also slipped after reports of LNG shortages affecting restaurant operations.

Not all stocks ended lower. Coal India shares rose nearly 5%, emerging as one of the top performers. Aarti Industries gained more than 5% after announcing a $150 million agrochemical supply contract.

Oil Prices Trigger Global Concerns

The sharp surge in crude oil prices remained the biggest concern for investors.

Oil prices climbed above $100 per barrel after reports that Iranian explosive-laden boats struck two fuel oil tankers. Officials also indicated that some oil ports had temporarily halted operations.

At one stage, Brent crude futures jumped more than 10% to $101.59 per barrel, even after the International Energy Agency announced the release of 400 million barrels from strategic reserves in an attempt to stabilise supply.

Shipping activity through the Strait of Hormuz has also slowed significantly, raising fears about disruptions in one of the world’s most important energy routes.

Global Markets

In Asia, Hong Kong’s Hang Seng fell 0.9%, while China’s Shanghai Composite remained largely unchanged.

European stocks were also under pressure, with the STOXX 600 index declining 0.5%. Futures linked to the S&P 500 and Nasdaq 100 dropped around 0.5%, indicating a softer start for US markets.

Commodities And Currency

Silver prices surged ₹8,500 to ₹274,665 per kg, recovering sharply from the day’s low. Gold also climbed, touching ₹162,991 during the session.

In early trade on the MCX, however, both metals had briefly slipped, with silver down 0.86% and gold lower by 0.4% before the rebound.

Technical View

From a technical perspective, the index continues to hover near an important zone.

The 23,550–23,500 area is seen as the immediate support band for the Nifty. If the index slips below 23,500, the next downside level is expected near 23,350.

On the upside, 23,800–23,850 remains the first resistance zone. A move above that level could open the door for a pullback toward 23,970–24,000.

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Investor Takeaways From Today’s Session

Despite the decline in headline indices, broader market segments showed some resilience during the session.

Both the Nifty Midcap 100 and Nifty Smallcap 100 indices managed to attract buying interest from intraday lows even though they ended the day slightly lower.

Overall market wealth, however, saw a sharp drop. The market capitalisation of BSE-listed companies fell to around ₹436 lakh crore, compared with roughly ₹450 lakh crore earlier, reflecting a decline of about ₹14 lakh crore.

Market participants are expected to keep a close watch on oil prices and global cues for signs of stability.

Sources:

Moneycontrol

Mint

ET

CNBC