{"id":5138,"date":"2025-03-11T13:32:38","date_gmt":"2025-03-11T08:02:38","guid":{"rendered":"https:\/\/trending.niftytrader.in\/?p=5138"},"modified":"2025-03-11T13:32:38","modified_gmt":"2025-03-11T08:02:38","slug":"sensex-falls-120-points-nifty-trades-flat-as-it-and-banking-stocks-drag-markets-lower","status":"publish","type":"post","link":"https:\/\/www.niftytrader.in\/markets\/sensex-falls-120-points-nifty-trades-flat-as-it-and-banking-stocks-drag-markets-lower\/","title":{"rendered":"Sensex Falls 120 Points, Nifty Trades Flat as IT and Banking Stocks Drag Markets Lower"},"content":{"rendered":"<h4 data-start=\"98\" data-end=\"181\">IndusInd Bank Crashes 21%; Smallcaps Extend Losses Amid Volatile Trading<\/h4>\n<p data-start=\"183\" data-end=\"528\">The Indian stock market faced a choppy session on March 11, with the Sensex slipping 120 points and the Nifty trading flat as selling pressure in IT and banking stocks weighed on investor sentiment. Despite a 350-point recovery from the day\u2019s low, smallcaps continued to decline, reflecting broader market weakness.<\/p>\n<p data-start=\"530\" data-end=\"807\">At 11:50 AM, the Sensex was down 173.48 points (0.23%) at 73,941.69, while the Nifty declined 23 points (0.10%) to 22,437.30. The Nifty IT index fell 1.47%, dragged down by Infosys, Wipro, and Tech Mahindra, as global uncertainty deepened.<\/p>\n<h3 data-start=\"809\" data-end=\"841\">Key Market Highlights:<\/h3>\n<ul data-start=\"842\" data-end=\"1454\">\n<li data-start=\"842\" data-end=\"964\">IndusInd Bank shares nosedived 21%, hitting a five-year low due to concerns over derivative discrepancies.<\/li>\n<li data-start=\"965\" data-end=\"1081\">Infosys, Wipro, and Tech Mahindra led losses in the IT sector, extending its four-day losing streak.<\/li>\n<li data-start=\"1082\" data-end=\"1154\">Nifty Bank declined 0.7%, with financial stocks underperforming.<\/li>\n<li data-start=\"1155\" data-end=\"1265\">BSE Midcap index fell 0.7%, while the Smallcap index dropped nearly 2% before recovering slightly.<\/li>\n<li data-start=\"1266\" data-end=\"1364\">Oil &amp; Gas and Realty sectors bucked the trend, gaining amid the broader market correction.<\/li>\n<li data-start=\"1365\" data-end=\"1454\">Bharat Electronics Ltd (BEL) climbed 2% after securing new \u20b9843 crore orders.<\/li>\n<\/ul>\n<h3 data-start=\"1456\" data-end=\"1530\">IndusInd Bank Crashes 21% After Derivative Portfolio Discrepancy<\/h3>\n<p data-start=\"1532\" data-end=\"1904\">IndusInd Bank stock plunged 21% following the bank\u2019s admission of discrepancies in its derivative portfolio, which could impact 2.35% of its net worth. The development has raised corporate governance concerns, especially after the CFO\u2019s resignation and the RBI\u2019s decision to extend CEO Sumant Kathpalia\u2019s tenure by only one year instead of three.<\/p>\n<p data-start=\"1906\" data-end=\"2063\">With an external audit underway, investors are wary of further financial impact. Meanwhile, the Nifty Bank index remained weak, declining 0.7%.<\/p>\n<h3 data-start=\"2065\" data-end=\"2123\">IT Sector Extends Declines Amid Global Headwinds<\/h3>\n<p data-start=\"2125\" data-end=\"2403\">The Nifty IT index dropped 1.47%, continuing its losing streak amid global economic uncertainty. Infosys, Wipro, and Tech Mahindra were among the worst performers, as concerns over corporate tech spending and recession fears in the US weighed on sentiment.<\/p>\n<p data-start=\"2405\" data-end=\"2535\">Market participants are closely tracking US market developments, where Trump\u2019s stance on trade policy has led to volatility.<\/p>\n<h3 data-start=\"2537\" data-end=\"2606\">Broader Market Trends: Smallcaps and Midcaps Under Pressure<\/h3>\n<ul data-start=\"2608\" data-end=\"2938\">\n<li data-start=\"2608\" data-end=\"2684\">Midcap index: Initially down 0.7%, but recovered 0.4% later.<\/li>\n<li data-start=\"2685\" data-end=\"2759\">Smallcap index: Dropped nearly 2%, before rebounding slightly.<\/li>\n<li data-start=\"2760\" data-end=\"2862\">FMCG, infrastructure, oil &amp; gas, metal, and pharma stocks saw gains between 0.4% and 0.5%.<\/li>\n<li data-start=\"2863\" data-end=\"2938\">Realty stocks surged over 2%, ending a three-day losing streak.<\/li>\n<\/ul>\n<h3 data-start=\"2940\" data-end=\"3001\">Bharat Electronics Gains After \u20b9843 Crore Order Win<\/h3>\n<p data-start=\"3003\" data-end=\"3306\">Shares of Bharat Electronics Ltd (BEL) rose 2% after the company announced fresh orders worth \u20b9843 crore, pushing its total order inflows for FY25 to \u20b914,567 crore. The contracts include RF seekers, radar upgrades, air traffic management systems, and electro-optic repair services.<\/p>\n<h3 data-start=\"3308\" data-end=\"3367\">M&amp;M Slips Amid Maharashtra\u2019s Proposed EV Tax Hike<\/h3>\n<p data-start=\"3369\" data-end=\"3693\">Mahindra &amp; Mahindra (M&amp;M) fell over 2%, as investors reacted to Maharashtra\u2019s proposal to increase motor tax on high-end electric vehicles (EVs). The proposed tax hike to 6% on EVs priced above \u20b930 lakh is expected to generate \u20b9170 crore in additional revenue, but could negatively impact premium EV sales.<\/p>\n<h3 data-start=\"3695\" data-end=\"3734\">Expert Views on Market Trends<\/h3>\n<p data-start=\"3736\" data-end=\"3892\">According to VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, the Indian market is outperforming the US amid corrections:<\/p>\n<ul data-start=\"3894\" data-end=\"4103\">\n<li data-start=\"3894\" data-end=\"3993\">The S&amp;P 500 has dropped 7.5% in the last month, while the Nifty has declined only 2.7%.<\/li>\n<li data-start=\"3994\" data-end=\"4103\">The Dollar Index has fallen from 109.3 to 103.71, which could reduce capital outflows from India.<\/li>\n<\/ul>\n<h3 data-start=\"4105\" data-end=\"4162\">Technical Analysis: Nifty at Key Support Levels<\/h3>\n<p data-start=\"4164\" data-end=\"4268\">Market strategist Anand James from Geojit Financial Services outlined the key levels to watch:<\/p>\n<ul data-start=\"4270\" data-end=\"4466\">\n<li data-start=\"4270\" data-end=\"4357\">Support: 22,300 \u2013 22,350 zone\u2014holding above this level may spark a rebound.<\/li>\n<li data-start=\"4358\" data-end=\"4466\">Resistance: 22,520\u2014failing to break above this could lead to further downside toward 21,720.<\/li>\n<\/ul>\n<h3 data-start=\"4468\" data-end=\"4512\">Top Gainers and Losers on Nifty 50<\/h3>\n<h4 data-start=\"4514\" data-end=\"4537\">Top Gainers:<\/h4>\n<ul data-start=\"4538\" data-end=\"4639\">\n<li data-start=\"4538\" data-end=\"4556\">Sun Pharma<\/li>\n<li data-start=\"4557\" data-end=\"4569\">BPCL<\/li>\n<li data-start=\"4570\" data-end=\"4583\">Trent<\/li>\n<li data-start=\"4584\" data-end=\"4602\">ICICI Bank<\/li>\n<li data-start=\"4603\" data-end=\"4639\">Bharat Electronics Ltd (BEL)<\/li>\n<\/ul>\n<h4 data-start=\"4641\" data-end=\"4663\">Top Losers:<\/h4>\n<ul data-start=\"4664\" data-end=\"4796\">\n<li data-start=\"4664\" data-end=\"4692\">IndusInd Bank (-21%)<\/li>\n<li data-start=\"4693\" data-end=\"4716\">Infosys (-2.5%)<\/li>\n<li data-start=\"4717\" data-end=\"4746\">Bajaj Finserv (-2.3%)<\/li>\n<li data-start=\"4747\" data-end=\"4766\">Wipro (-2%)<\/li>\n<li data-start=\"4767\" data-end=\"4796\">Tech Mahindra (-1.8%)<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>IndusInd Bank Crashes 21%; Smallcaps Extend Losses Amid Volatile Trading The Indian stock market faced a choppy session on March 11, with the Sensex slipping 120 points and the Nifty trading flat as selling pressure in IT and banking stocks weighed on investor sentiment. Despite a 350-point recovery from the day\u2019s low, smallcaps continued to [&hellip;]<\/p>\n","protected":false},"author":4,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[615],"tags":[],"ppma_author":[1331],"class_list":{"0":"post-5138","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-stock-market-news"}," _eael_post_view_count":0,"authors":[{"term_id":1331,"user_id":4,"is_guest":0,"slug":"sourabh","display_name":"Sourabh Sharma","avatar_url":{"url":"https:\/\/trending.niftytrader.in\/wp-content\/uploads\/2025\/11\/Sourabh-Sharma.png","url2x":"https:\/\/trending.niftytrader.in\/wp-content\/uploads\/2025\/11\/Sourabh-Sharma.png"},"0":null,"1":"","2":"","3":"","4":"","5":"","6":"","7":""}],"_links":{"self":[{"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/posts\/5138","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/comments?post=5138"}],"version-history":[{"count":1,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/posts\/5138\/revisions"}],"predecessor-version":[{"id":5140,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/posts\/5138\/revisions\/5140"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/media\/5139"}],"wp:attachment":[{"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/media?parent=5138"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/categories?post=5138"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/tags?post=5138"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/ppma_author?post=5138"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}