The benchmark equity indices closed sharply lower on Wednesday, dragged down by profit booking in select heavyweight stocks from the auto and banking sectors. Market sentiment remained subdued as persistent foreign institutional investor (FII) outflows and lingering geopolitical uncertainties continued to weigh on investor confidence.

Nifty ended below the 23,900 level. Auto, private bank and financial services shares declined, while pharma, oil & gas shares and healthcare shares advanced.

As per provisional closing data, the barometer index, the S&P BSE Sensex tumbled 1,342.27 points or 1.72% to 76,863.71. The Nifty 50 index slumped 394.75 points or 1.63% to 23,866.85.

In the broader market, the S&P BSE Mid-Cap index tumbled 1.13% and the S&P BSE Small-Cap index shed 0.32%.

 

The market breadth was negative. On the BSE, 1,870 shares rose and 2,392 shares fell. A total of 169 shares were unchanged.

The NSE’s India VIX, a gauge of the market’s expectation of volatility over the near term, jumped 11.41% to 21.06.

New Listing :

Shares of Sedemac Mechatronics were at Rs 1,429.95 on the BSE, representing a premium of 5.77% as compared with the issue price of Rs 1,352.

The stock was listed at Rs 1,510, reflecting a premium of 11.69% to the issue price.

The stock has hit a high of Rs 1,613.50 and a low of Rs 1,425. On the BSE, over 4.19 lakh shares of the company were traded in the counter.

IPO Update:

The initial public offer (IPO) of Innovision received bids for 6,23,700 shares as against 61,32,433 shares on offer, according to stock exchange data at 15:30 IST on Wednesday (11 March 2026). The issue was subscribed 0.10 times.

The issue opened for bidding on 10 March 2026 and it will close on 12 March 2026. The price band of the IPO is fixed between Rs 521 and 548 per share.

The initial public offer (IPO) of Rajputana Stainless received bids for 2,29,19,050 shares as against 2,09,00,000 shares on offer, according to stock exchange data at 15:30 IST on Wednesday (11 March 2026). The issue was subscribed 1.10 times.

The issue opened for bidding on 9 March 2026 and it will close on 11 March 2026. The price band of the IPO is fixed between Rs 116 and 122 per share.

Buzzing Index:

The Nifty Auto index dropped 3.15% to 25,926. The index rallied 3.10% in the past trading session.

TVS Motor Company (down 4.84%), Ashok Leyland (down 4.03%), Eicher Motors (down 3.67%), Mahindra & Mahindra (down 3.59%), Uno Minda (down 2.99%), Bajaj Auto (down 2.95%), Tata Motors Passenger Vehicles (down 2.88%), Tube Investments of India (down 2.62%), Maruti Suzuki India (down 2.57%) and Bharat Forge (down 2.43%) declined.

Stocks in Spotlight:

TTK Prestige surged 9.74%, while Stove Kraft soared 10.11% and Butterfly Gandhimathi Appliances climbed 13.73% during the session. Shares of kitchen appliance makers advanced as disruptions in imported gas supplies amid the escalating West Asia conflict raised expectations of increased demand for alternative cooking solutions. The move in these stocks comes amid reports of shortages in commercial LPG cylinders, which are widely used by hotels and restaurants.

TVS Supply Chain Solutions added 1.09% after the company announced the setup of a 40,000 sq. ft. warehousing facility at the Free Trade and Warehousing Zone (FTWZ) in Mannur Village, about 30 km from Chennai.

Shakti Pumps jumped 7.50%, Jain Irrigation Systems surged 9.81% and Prince Pipes and Fittings rallied 5.62%. Infrastructure companies also saw gains, with NCC climbing 3% and KEC International advancing 1.92%. Shares of irrigation and water infrastructure companies advanced on Wednesday after the Union Cabinet approved the restructuring and extension of the Jal Jeevan Mission (JJM) until December 2028 with an enhanced total outlay of Rs 8.69 lakh crore.

According to an official release, the Cabinet approved restructuring the rural drinking water programme to shift its focus from infrastructure creation to service delivery and sustainable management of rural water supply systems under Jal Jeevan Mission 2.0. The government also approved an increase in central assistance to Rs 3.59 lakh crore from Rs 2.08 lakh crore approved earlier, implying an additional central share of Rs 1.51 lakh crore.

H.G. Infra Engineering surged 6.39% after the company announced that it has secured an order worth Rs 401.33 crore from Anuppur Thermal Energy (MP) in Madhya Pradesh. According to an exchange filing, the project involves execution of civil worksincluding earthwork, bridges, and station buildingsalong with P-way works for the development of railway infrastructure at a 2×800 MW thermal power project in Anuppur, Madhya Pradesh. The total value of the order stands at Rs 401.33 crore (including GST) and the project is expected to be executed within 18 months.

Hester Biosciences shed 0.11%. The company said that its board has approved the divestment of 43.81% equity shareholding in its subsidiary Texas Lifesciences (TLPL), by way of transfer/sale of shares to the existing promoter shareholders of the TLPL. The companys currently holds around 54.81% stake in Texas Lifesciences.

Jindal Steel slipped 0.02%. The announced that it has been declared as preferred bidder for Thakurani-A1 Iron Ore Block by the Odisha government.

The company has committed to pay a premium of 101.20% to the state government. The Thakurani-A1 Iron Ore Block was part of a recent auction round for 12 virgin mineral blocks notified by the Odisha Directorate of Mines and Geology in December 2025. The virgin block is G3-level explored with around 50 million tonnes of iron ore resources as per the government document.

3i Infotech rose 0.84% after the company said that secured a managed IT services contract worth Rs 5.66 crore from a prominent Indian engineering and industrial solutions company specializing in power and industrial equipment.

RailTel Corporation of India declined 2.17%. The company has received a domestic services order from Power Grid Corporation of India, with an estimated size of Rs 115.20 crore.

Infosys slipped 1.70%. The company announced a strategic collaboration with Incora, a supply chain solutions provider in the aerospace and defense industry, to advance the use of artificial intelligence across Incoras global supply chain operations.

Tips Music added 1.14% after the company informed that Hari Nair, chief executive officer (CEO) and key managerial personnel (KMP), has resigned effective the close of business on 30 April 2026, to pursue new opportunities.

Nazara Technologies slipped 1.20% after rising as much as 2.05% in early trade. Morgan Stanley acquired a 0.78% stake in the company via bulk deals on 10 March 2026.

As per the bulk deal data on the NSE, Morgan Stanley Asia Singapore Pte bought 28.85 lakh equity shares (or 0.78% stake) of Nazara Technologies at Rs 239.80 each yesterday, 10 March 2026. The shares were sold by Think India Opportunities Master Fund LP, which offloaded an equivalent number of shares at the same price. Think India Opportunities Master Fund LP held 93.27 lakh shares or 2.52% stake in the company as on 31 December 2026.

Global Markets:

European market declined on Wednesday as traders monitor intensifying operations in the Middle East.

German inflation eased slightly to 2.0% in February, the federal statistics office said on Wednesday, confirming preliminary estimates. Inflation, measured by the harmonised index of consumer prices (HICP) to allow comparison with other European Union countries, had stood at 2.1% year-on-year in January.

Most Asian markets ended higher as oil prices retreated from recent highs, although investors remained cautious amid ongoing geopolitical tensions and ahead of key U.S. inflation data.

Overnight in the U.S., the S&P 500 fell slightly in choppy trading as oil prices pulled back and traders kept an eye on the Iran war.

The broad market index dropped 0.21% to end at 6,781.48. The Dow Jones Industrial Average dipped 34.29 points, or 0.07%, and closed at 47,706.51. The Nasdaq Composite inched up 0.01% to settle at 22,697.10.

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