Stock market crash: HDFC Bank, ITC, TCS, Tata Motors PV among 509 stocks that hit 52-week low on NSE

NIFTY50 and SENSEX extended losses for the third consecutive day as both indices witnessed significant selling pressure on Friday, March 13.

NIFTY50 closed 488 points or 2.0% lower at 23,151, with a day low of 23,112. Meanwhile, BSE SENSEX is down 1470 points or 1.9% lower at 74,563. SENSEX hit a day low of 74,454 today.

Why are stock markets down today?

Markets have remained highly volatile since the start of the US, Israel and Iran war. NIFTY50 and SENSEX declined 5.31% and 5.52% lower this week amid weak global market sentiments, persistent selling by Foreign Institutional Investors (FIIs) and rising crude oil prices linked to the ongoing conflict in the Middle East.

Brent crude oil prices once again rose to trade above $100 per barrel amid fear of supply disruptions after Iranian missile strikes two oil tankers. Higher crude prices could add to inflationary pressures and risks to global economic growth.

Foreign Institutional Investors (FIIs) continued their selling in the domestic market. FIIs offloaded equities worth ₹7,049.87 crore on Thursday. So far in March, FIIs have sold shares worth over ₹46,166 crore.

Broader market indices like NIFTY Midcap100 (-2.6%) and NIFTY Smallcap100 (-2.5%) are also trading lower. More than 500 stocks hit their 52-week low today as investors did profit booking amid weak market sentiments.

The volatility index, or India VIX, is up 5.23% to 22.65. All the sectoral indices closed in the red with NIFTY Metal (-4.8%), NIFTY PSU Bank (-3.7%) and NIFTY Auto (-3.6%) are among the top sectoral losers.

Prominent stocks at 52-week low today