After six straight sessions of gains, Indian stock markets took a breather on March 25. The benchmark indices — The Sensex and the Nifty 50 — barely moved, closing the day with marginal gains. But the story was quite different in the broader market, where mid and small-cap stocks took a solid hit.
The Sensex closed 33 points higher at 78,017.19, while the Nifty 50 added just 10 points to end at 23,668.65 — both up by just 0.04%.
The mood was much gloomier in the broader market. The BSE Midcap index slipped 1.13%, and the Smallcap index dropped even more — 1.63%. That meant nearly ₹3 lakh crore got wiped off from investor wealth in a single session.
Total market capitalisation of BSE-listed companies dropped to around ₹415 lakh crore from ₹418 lakh crore in the previous session.
After a decent run-up in the last few sessions, it seems like investors decided to pocket some profits — especially in small and mid-sized companies that had become a bit too pricey. A stronger US dollar and concerns over possible fallout from US tariffs added to the cautious mood.
Traders are also watching for clarity on trade relations between India and the US, and many are keeping an eye on upcoming March-quarter results to gauge if earnings are on track for a rebound.
Out of the 30 Sensex stocks, only 10 managed to end in the green. UltraTech Cement led the gainers, jumping 3.41%. Bajaj Finserv rose 2.71%, and Infosys climbed 2.48%.
On the flip side, Zomato took the biggest knock, dropping 5.79%. IndusInd Bank fell 4.76%, while Adani Ports slipped 1.44%.
Most sectoral indices ended in the red, especially Consumer Durables, Metal, Oil & Gas, Power, and Realty — each down over 1%.
However, the IT pack stood out, gaining over 1%. This was largely driven by hopes of softer US tariffs and attractive valuations after recent corrections.
Stocks like Harsha Engineers, Accelya Solutions, Tarsons Products, Ugro Capital, Graphite India and Samvardhana Motherson International saw unusually high trading volumes.
In the midst of all the action, 71 stocks on the BSE touched their 52-week highs — including Bajaj Finance, Kotak Mahindra Bank, JSW Steel, and Shree Cement.
But it wasn’t all rosy. As many as 146 stocks hit their 52-week lows — with names like Colgate Palmolive, Happiest Minds, and Star Health among them.
Some stocks still managed to shine. HEG surged nearly 12%, Salasar Techno Engineering jumped 8.78%, Blue Dart rose 8.54%, and Graphite India added 7.59%.
Out of 4,177 stocks traded on the BSE, 1,085 ended in the green, while 2,983 declined. Just 109 remained flat. Clearly, the bears had more say in the broader market.
According to technical analysts, Nifty 50 might stay in a range for now. Support seems to be around the 23,300 mark — a zone where buyers have previously stepped in. Immediate support lies at 23,600, while resistance is near 23,800. A move beyond either level could trigger fresh momentum in that direction.
(By arrangement with livemint.com)
