The Indian stock market witnessed an intense selloff on March 14th that sent over 1,100 stocks plummeting to their lower circuit as selling pressures intensified. Benchmark indices plunged over 1% with the Sensex closing below 73,000 and the Nifty ending under 22,000 amid widespread losses across sectors.
BSE data reveals the extent of the bloodbath, with a massive 88% of stocks declining. Over 3,512 shares fell while just 404 advanced, highlighting the widespread bearish sentiment. 253 stocks even hit their 52-week lows as panicked investors rushed to exit positions.
Among the biggest losers were Adani Ports, Coal India and Power Grid Corporation, all plunging over 7% to top the list of Nifty laggards. The broader market was also significantly impacted, with the Nifty Midcap 100 and Nifty Smallcap 100 indices sliding 4.4% and 5.3% respectively. Both have corrected over 5% and 8% in the past week alone.
On the selling side, FPIs offloaded shares worth Rs. 4,595 crore while domestic institutions provided some support by absorbing shares worth Rs. 9,093 crore. Global markets offered little respite with a mixed performance amid ongoing volatility. Investors now await key domestic economic data and the US Fed’s policy moves for further market cues.
