The Indian equity benchmarks ended sharply lower on Thursday, March 19, with SENSEX staging its worst single-day performance since May 18, 2020. Markets came under pressure as crude oil prices surged in international market after Iran accused Israel of striking its facilities in the huge South Pars gas field on Wednesday in a major escalation in the US-Israeli war and retaliated by vowing attacks on oil and gas targets throughout the Gulf, firing missiles at Qatar and Saudi Arabia, news agency Reuters reported.
SENSEX fell as much as 2,753 points at the day’s lowest level and NIFTY50 index touched an intraday low of 22,930 dragged down by losses in index heavyweights like HDFC Bank, ICICI Bank, Larsen & Toubro, Infosys and Reliance Industries.
The SENSEX ended 2,497 points or 3.3% lower at 74,207 and NIFTY50 index dropped 776 points or 3.26% to close at 23,002.
NIFTY50 top gainers and losers
HDFC Bank was among the top losers in the NIFTY50 index, the stock fell 5.11% to close at ₹800 after Atanu Chakraborty, the company’s part-time chairman and independent director, resigned from his role with immediate effect.
In a late exchange filing on March 18, HDFC Bank disclosed that Part-time Chairman and Independent Director, Atanu Chakraborty, has resigned from the board of the lender.
In his resignation letter, Chakraborty said that there are “certain happenings and practices within the bank” over the last two years, which do not align with his personal values and ethics and are the sole reason behind his resignation.
Shriram Finance (-6.71%), Eternal (-5.38%), Bajaj Finance (-4.93%) and Mahindra & Mahindra (-4.82%) were also among the top losers in the NIFTY50 index.
On the flip side, ONGC with 1.5% gain, was the only gainer in the NIFTY50 index.
NIFTY Midcap 100 top gainers and losers
NIFTY Midcap 100 index fell 3.2% or 1,798 points to close at 54,492. As many as 97 shares ended lower while three stocks managed to close higher.
Hindustan Petroleum was top loser in the NIFTY Midcap 100 index, the stock declined 6.3% to settle at ₹327 as surging crude prices led to decline in the stock.
Voltas (-4.96%), Ashok Leyland (-4.95%), Bharat Forge (-4.95%) and Mankind Pharma (-4.9%) were also among the top losers in the NIFTY Midcap 100 index.
On the other hand, Adani Total Gas (8.7%), Oil India (1.01%) and NTPC Green (0.78%) were notable gainers in the NIFTY Midcap 100 index.
NIFTY Smallcap 100 top gainers and losers
NIFTY Smallcap 100 index plunged 2.94% or 475 points to settle at 15,704. A total of 95 shares ended lower while five managed to end higher.
Swan Corp was top loser in the NIFTY Smallcap 100 index, the stock declined 6% to close at ₹326. Aegis Vopak Terminals (-5.6%), Ola Electric (-5.27%), JBM Auto (-5.26%) and PG Electroplast (-5.19%) were also among the top losers in the NIFTY Midcap 100 index.
On the contrary, GE Shipping (0.83%), Kalpataru Projects International (0.61%), KEC International (0.11%), Himadri Speciality Chemical (0.06%) and Mahanagar Gas (0.06%) were notable gainers in the NIFTY Smallcap 100 index.