Markets nosedive, NIFTY50 below 22,000, SENSEX falls over 900 points; Stock Market Highlights

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The NIFTY Midcap 100 index (-4.4%) closed lower today. Meanwhile, NIFTY Smallcap 100 Index (-5.2%) closed in the red today. Sell-off in the broader market comes amid concern of tighter regulatory norms by the SEBI.

The BANK NIFTY (-0.64%) index closed in red. Sell-off in State Bank of India, Axis Bank, IndusInd Bank dragged down the index.

Benchmark indices – NIFTY50 (-1.5%) and SENSEX (-1.23%) – see significant fall in today's trading session. Out of the NIFTY50 space, 43 stocks closed in red. PSU stocks like Power Grid, Coal India and NTPC were among top losers.

NIFTY Bank (-0.7%) index was amongst top gainers today. Sell-off in State Bank of India (-1.9%), PNB (-6.9%), Axis Bank (-1.5%), Bank of Baroda (-4.4%) dragged down the index.

14 March expiry

• Max Call OI (resistance) : 22,400
• Max Put OI (support) : 22,000
• Max Pain: 22,100
• PCR: 0.47

(Source; BSE)

India's benchmark indices – NIFTY50 (-1.10%) and SENSEX (-0.86%) – were trading marginally lower on Wednesday. Of the NIFTY50 universe, 46 stocks were declining, with Adani Enterprises, Adani Port and Power Grid being the top losers. In terms of broader markets, NIFTY Smallcap100 and NIFTY Midcap100 witnessed heavy selling. Both the indices were down more than 3%.

Shares of mining to metal giant Vedanta Ltd dropped more than 3% on Wednesday after the market regulator Securities and Exchange Board of India (SEBI) directed the company to pay ₹78 crore to Cairn UK Holdings while barring company board members from the capital market.

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Shares of Paytm on Wednesday hit lower circuit, down 4.99% or ₹18.45, to trade at ₹350.95.