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.
Piramal Pharma, Tejas Networks lead losses; IndusInd Bank extends slide
Piramal Pharma was the worst performer in trade, with the stock falling 6.36% to Rs145.54 apiece, marking the lowest level since June 2024. Tejas Networks was another top laggard, falling 6.23% to ₹442.95 apiece, erasing most of its recent gains.
Extending its losing streak for the second straight session, IndusInd Bank shares fell 5.22% to ₹831.35 apiece, bringing the month-to-date crash to 13%, the biggest monthly drop since March 2025.
The broader auto stocks witnessed another round of selling pressure, with TVS Motor Company losing another 5%, while Mahindra & Mahindra, Eicher Motors, Maruti Suzuki India, Ashok Leyland, Hero MotoCorp, and Tata Motors PV all fell over 3%.
In the FMCG space, Varun Beverages dropped 4.7%, and Colgate-Palmolive also fell 4%. Other stocks such as Godrej Consumer Products, Dabur India, Britannia Industries, United Spirits, and ITC fell in the range of 1.6% to 3.6%.
Other stocks such as PG Electroplast, Jyothy Labs, Vedant Fashions, Larsen & Toubro, Five-Star Business Finance, Honasa Consumer, and Karur Vysya Bank also closed with losses of over 3%.
NTPC Green Energy, Adani Power, JSW Energy lead gains
On the winning side, power and renewable energy stocks outperformed the broader market, with stocks such as NTPC Green Energy, Adani Power, JSW Energy, Torrent Power, Tata Power Company, Reliance Power, and Jaiprakash Power Ventures all surging between 4% and 12.6%.
Global brokerage firm Morgan Stanley said that rising temperatures across India and tightening fuel supplies could shift the balance in favor of thermal power producers in FY27.
CEAT shares remained higher for the third straight session on Thursday, surging another 7% to ₹3,844 pieces. Adani Total Gas, too, kept its bullish momentum intact for the third session in a row, surging 7.2% to ₹609.50, taking its three-day cumulative gain to 30%.
KPR Mill shares saw renewed buying interest as they advanced 12.2% to ₹909 apiece. NLC India shares gained 6.8% to ₹265.25 apiece. Other stocks such as Linde India, Saregama India, SRF, Coal India, Balkrishna Industries, and Bharat Heavy Electricals all closed with gains between 4.7% and 6%.
Disclaimer: : We advise investors to check with certified experts before making any investment decisions.
