Bears dominate Dalal Street; Sensex crashes 1471 pts, Nifty at 23,151

The domestic share market traded on a lower note on Friday amid broad-based selling as rising geopolitical tensions pushed crude oil prices higher.At close, the Sensex was down 1,470.50 points or 1.93 percent at 74,563.92, and the Nifty was down 488.05 points or 2.06 percent at 23,151.10.Tata Consumer, HUL, Bharti Airtel were the top gainers on the Nifty, while losers included Hindalco, L&T, Tata Steel, UltraTech Cement, JSW Steel.On the sectoral front,all other sectoral indices ended in the red with auto, PSU Bank, metal, media, PSU Bank down 3-4%.Nifty Midcap and smallcap indices shed 2.5% each.
Rupee Close:
On 13 Mar'26,hit a fresh all-time intra-day low of 92.44 against the US dollar on Friday, down 19 paise from its previous close, as rising global crude oil prices amid the raging West Asia conflict kept international markets on the edge.A stronger greenback, heavy FII outflows and sustained selling in the domestic equity markets further weighed on the rupee, according to forex traders.
Trading Guide: 
Vinod Nair, Head of Research, Geojit Investments states the deep sell off witnessed in the street was triggered by a perfect storm: escalating geopolitical conflict leading to macroeconomic shocks, along with margin-related technical pressures that forced squaring-off of short-term positions. Crude oil prices are surging back to $100 per barrel, raising concerns over inflation, corporate margins, and INR stability.
Metals and auto stocks were among the worst hit, as supply constraints and higher input costs are expected to hit business and profitability. Heightened volatility weakened trader sentiment, discouraging them from carrying positions into the weekend amid persistent geopolitical risks.The lack of buying support from domestic institutional and retail investors, coupled with continued FII outflows, intensified the decline.
Market experts recommended five shares to buy on Friday-HFCL, Cummins India, Ajanta Pharma, Power Finance Corporation, and Kirloskar Oil Engines.

(Business Correspondent)