Indian equity markets faced a sharp sell-off today, with benchmark indices declining significantly amid broad-based weakness across sectors. Market sentiment remained weak, with higher volatility and concerns over global economic conditions weighing on investor confidence.

📊 Market Performance

• BSE Sensex closed at 73,198.10, down 1.90%

• NSE Nifty50 ended at 22,124.70, down 1.86%

• Nifty Midcap 150 declined 2.35% to 17,750.55

• Nifty Smallcap 250 dropped 2.50% to 13,844.55

• India VIX rose to 13.89, indicating elevated volatility

Market breadth was heavily negative, with 489 stocks advancing while 2,416 stocks declined, signaling strong selling pressure across segments.

📈 Top Gainers & Losers

✔ Top Gainers:

• Home First Finance ₹1,018 (+10.14%)

• Craftsman Automation ₹4,501 (+7.67%)

❌ Top Loser:

• TBO Tek ₹1,200 (-11.69%)

📰 Key Market Developments

🔹 Som Distilleries to raise funds via ₹112/share preferential issue.

🔹 Solar Industries secures a ₹2,150 Cr defense export order over six years.

🔹 NCLT approves Mankind Pharma’s merger with three subsidiaries.

🔹 Anupam Rasayan signs LOI with Elementium Materials (US) for EV battery chemicals.

🔹 TVS Motor launches TVS King three-wheelers in Mexico.

📉 Sectoral Performance

All sectoral indices closed in the red, reflecting broad-based market weakness.

❌ Top Losers:

• Nifty IT (-4.18%)

• Nifty Auto (-3.92%)

• Nifty Media (-3.48%)

🔹 No sectoral gainers were recorded today, highlighting the widespread selling pressure across the market.

Within the Nifty 50, Shriram Finance, HDFC Bank, and Coal India were the only notable gainers, showing minimal positive movement in an otherwise weak session. IndusInd Bank, Tech Mahindra, and Wipro were the biggest laggards of the day.

📊 Key Economic Indicators

🔹 India’s Q3 GDP growth came in at 6.2%, in line with market expectations. The full-year GDP growth forecast stands at 6.5%.

🔹 India’s forex reserves increased by $4 billion, reaching $640.48 billion.

🔹 Industrial output stood at 4.64%, slightly up from 4% in the previous period.

📌 Focus Sector: Air Conditioners & Cooling Equipment

With the IMD forecasting extreme summer temperatures, companies in the air conditioning and allied industries may see increased demand in the coming months.

🔍 Market Sentiment & Technical Outlook

✔ Market distribution pattern shows significant unwinding, with futures volume nearing 1 crore.

✔ Nifty’s Daily RSI at 22.40—historically, whenever RSI fell below 25, the market took around 15 working days to establish a base before a structural rally. If history repeats, a market recovery may be expected by March-end or early April.

✔ PCR at 0.77 suggests continued weakness, while VIX at 13.91 signals higher uncertainty.

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