Post Market, 23 March 2026: Broad Selling Pulls Nifty And Sensex Lower

Markets saw heavy selling on Monday. Benchmark indices slipped early in the session as global tensions picked up over the weekend.

Oil prices remained high throughout the day. The rupee also weakened, and selling spread across sectors from the opening trade.

Closing Bell

• Sensex dropped by 1836 points and closed at 72,696

• Nifty 50 fell by 602 points and reached 22,512

Broader Markets

The damage was visible right from the start of the session. Investors lost about ₹14 lakh crore within the first hour, with the total market capitalisation of BSE-listed firms dropping to ₹415 lakh crore.

Selling remained broad-based through the day, with a large majority of stocks on the NSE trading in the red, pointing to widespread pressure across sectors rather than stock-specific moves.

Banking stocks also came under heavy pressure. State Bank of India and HDFC Bank were among the top laggards, while PSU lenders such as Union Bank of India, Punjab National Bank and Canara Bank also declined. Nifty Bank index fell over 3% to an 11-month low, slipping below the 52,000 mark.

All other sectoral indices ended lower, with realty, capital goods, consumer durables and metal stocks declining over 4-5% each, while auto, energy, media and others fell about 3% each.

What Moved The Markets Today?

Markets came under heavy pressure on Monday, with global developments driving sentiment through the session.

Tensions in West Asia escalated further over the weekend after Iran warned it could target critical infrastructure across the region if the US follows through on its threat to strike Iran’s power grid. The situation intensified after US President Donald Trump’s remarks, along with reports of additional military deployment, raising concerns of a wider conflict and potential disruption to global energy supplies.

Oil prices moved higher, with Brent crude over $113 per barrel. That was enough to unsettle global markets. Indices in Japan, Hong Kong and China ended lower, and the weakness was seen across regions.

Back home, the pressure was compounded by currency weakness and continued foreign outflows. The rupee fell to its lowest of around ₹93.8 against the US dollar during the session, marking a sharp slide from recent levels, adding to concerns as higher oil prices and global uncertainty are already weighing heavily on investor confidence.

Commodities Watch: Gold And Silver

Gold and silver have also seen a sharp fall amidst the pressure in global markets. The strength in crude oil and the US dollar added to the decline, prompting a pullback in bullion prices.

In early trade (09:15 IST), gold futures on the MCX were down 5.08% at ₹1,37,159 per 10 grams, while silver fell 6% to ₹2,13,166 per kg.

By midday (12:38 IST), gold futures had dropped further by 6.5% to ₹1,35,100 per 10 grams, while silver declined 8.97% to ₹2,06,441 per kg.

Toward the close (14:14 IST), bullion prices remained under heavy selling pressure, tracking weakness in global markets. On the MCX, gold plunged ₹10,037, or 6.95%, to ₹1,34,455 per 10 grams from the previous close of ₹1,44,492. Silver fell ₹17,269, or 7.62%, to ₹2,09,503 per kg compared to ₹2,26,772 earlier.

Comex gold and silver in the international markets have declined too, reflecting broad-based weakness in precious metals.

Also Read: Godrej Properties, Lodha Acquire 25+ Land Parcels In FY26, Target ₹1 Lakh Cr Revenue

What Should Investors Watch Next?

The focus now shifts to developments in West Asia, as that will continue to influence oil prices and overall sentiment. Moves in the rupee and foreign fund activity will also be important after today’s sharp reaction.

Attention will also be on how the RBI responds if the currency remains under pressure. The next few sessions should indicate whether the selling settles or continues.

Sources:

Times of India

Money Control

Live Mint

Economic Times