Indian benchmark indices ended sharply lower on March 11 due to geopolitical uncertainty surrounding the US–Israel–Iran conflict. Sensex fell 1,342 points and Nifty declined 394 points. Rising volatility and losses in auto and financial stocks weighed on market sentiment.
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Indian benchmark indices closed sharply lower on March 11 as mixed signals surrounding the US–Israel conflict with Iran created uncertainty among investors about the potential impact on global inflation and economic growth. Market participants are now closely watching the US CPI data, which is expected later tonight.
At the closing bell, the Sensex fell 1,342.27 points, or 1.72%, to settle at 76,863.71.
Meanwhile, the Nifty declined 394.75 points, or 1.63%, to close at 23,866.85.
Volatility Rises in the Market
Volatility also increased during the session. India VIX, often referred to as the market’s volatility gauge, rose 11% to 21, indicating expectations of heightened short-term market volatility.
Sectoral Performance
On the sectoral front, most indices ended in the red, though a few segments managed to post gains.
The Pharma sector gained 0.41%.
The Energy sector rose 0.28%.
The Healthcare sector advanced 0.14%.
On the downside:
Auto stocks led the decline with a fall of nearly 3%.
Financials declined 2%.
Realty slipped 1%.
The broader markets also witnessed weakness during the session.
The Nifty Midcap index declined 1.2%.
Small-cap indices fell 0.3%.
Stock-Specific Action
Among individual stocks, Jio Finance was one of the top performers, gaining around +1.06%.
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