It was yet another painful day for Dalal Street bulls as the Indian stock market extended its losing streak for the second straight session on Thursday, March 12, with key averages falling 1%, as the ongoing conflict in the Middle East kept investors on edge, raising concerns that prolonged tensions could impact corporate earnings.
After a 1.63% crash in the previous session, the Nifty 50 fell another 1% in trade, settling at 24,639, the lowest level since April 2025.
The S&P BSE Sensex crashed 1.08% to 76,013. This was followed by a 1.72% fall in Wednesday’s session, causing the index to drop nearly 3,000 points in just four trading sessions.
The broader markets, however, managed to outperform the benchmark indices as the Nifty Midcap 100 fell 0.37% and the Nifty Smallcap 100 dropped 0.67%.
Today’s losses were once again led by auto stocks, with the Nifty Auto crashing 3.32%, taking its month-to-date crash to 11%. It was followed by the Nifty FMCG, Nifty Private Bank and Nifty Realty, all falling over 1%.
On the winning side, the Nifty Oil and Gas managed to end higher by 0.45%, while the Nifty Chemicals and Nifty Metal gained 0.44% and 0.33%, respectively.
(more to come)