Nifty hits 11 month low, Sensex down 1342 pts amid weak global cues

The domestic share market traded lower on Wednesday,with the Nifty falling below 23,900 amid selling across the sectors.At close, the Sensex was down 1,342.27 points or 1.72 percent at 76,863.71, and the Nifty was down 394.75 points or 1.63 percent at 23,866.85.
NTPC, Jio Financial, Coal India, Sun Pharma, Dr Reddy's Labs were the top gainers on the Nifty, while losers included Bajaj Finance, Axis Bank, Bajaj Finserv, Eicher Motors and M&M.On the sectoral front, auto, FMCG, PSU Bank, Consumer Durables, Private Bank, Capital Goods, IT, realty shed between 1-3%, while oil & gas, pharma indices ended with marginal gains.Broader indices outperformed the main indices with Nifty Midcap index falling 1.2%, while smallcap index declines 0.36%.
Rupee Close:
On 11 Mar'26,the Indian rupee declined 16 paise to settle at 92.01 against the U.S. dollar on Wednesday , weighed down by a sharp rise in global crude oil prices and a stronger greenback as the war in West Asia raged on.FII outflows and weak sentiments in the domestic equity markets further pressured the local unit, according to Forex traders.
Trading Guide:
Vinod Nair, Head of Research, Geojit Investments stated domestic equities ended lower as weak global cues and the ongoing US–Iran conflict kept risk-off sentiment elevated. Concerns over rising inflation stemming from potential energy supply disruptions and rationing prompted investors to book profits, while continued FII outflows further added to market pressure. Sector-wise, auto, banking, and realty stocks bore the brunt of the decline amid growing worries over demand slowdown. In contrast, healthcare stocks attracted defensive interest, while gas distributors gained after the government prioritized gas allocation. Looking ahead, markets are likely to remain cautious as investors await U.S. and domestic inflation data and clearer macro signals before taking fresh directional bets.
Market experts recommended five shares to buy on Wednesday-Anupam Rasayan India, Schneider Electric Infrastructure, MM Forgings, Godawari Power and Ispat, and Aurobindo Pharma.

(Business Correspondent)