Stock market crash: IndusInd Bank, Titan, IDFC First Bank hit 52-week low; here’s why

NIFTY50 and SENSEX traded lower on Tuesday reacting to a broad sell-off in the Asian markets in the morning hours. The decline in US markets in the previous trading session impacted the overall market sentiments. As of 12:05 pm, the benchmark NIFTY50 fell 40 points, or 0.23%, to 22,405. The BSE SENSEX, meanwhile, dropped over 200 points, or 0.30%, to 73,891.

US markets fell sharply on Monday over fear that US President Donald Trump’s trade tariffs could push the country into recession. Economic uncertainty and fear of potential recession heightening investor concerns leading to board-based sell-off in global markets.

In the domestic market, as many as 152 stocks hit their lowest levels in 52 weeks on Tuesday, March 11. The volatility index, or India VIX, rose 1.5% to 14.20.

The NIFTY IT and the NIFTY Bank indices were the top sectoral losers, down 1.4% and 0.8%, respectively. NIFTY Realty and NIFTY Oil & Gas were the biggest gainers, up 2.9% and 0.62%.

IndusInd Bank (52-week low: ₹670)

In the previous session, IndusInd Bank was in the news after the Reserve Bank of India (RBI) had cut short the approval for the re-appointment of the lender’s managing director and CEO Sumant Kathpalia for a period of one year instead of three years.

Titan Company (52-week low: ₹3,010)

Titan is in focus as analysts fear that shares of US-export centric companies in India are likely to be on edge if the US President Donald Trump decides to impose reciprocal tariffs on countries including India with effect from April 2, 2025. Diamonds and gold jewellery are among the largest exported goods to the US from India.

IDFC First Bank (52-week low: ₹55.03)

The stock is trading lower today amid a broad-based sell-off in the banking stocks as NIFTY Bank tumbled over 1% after IndusInd found discrepancies in the derivative account balances. IDFC First Bank stock has been struggling over the past one month after the lender reported a 15% year-on-year decline in net profit due to higher bad loan provisions in microfinance. This was despite a 14% increase in its net interest income (NII).

Shoppers Stop (52-week low: ₹483.2)

Last week, large format department store chain Shoppers Stop unveiled Shoppers Stop 2.0, a reimagined luxury shopping experience, at its flagship store in Inorbit Mall at Malad in Mumbai. Also, on Monday, SS Beauty by Shoppers Stop launched its first exclusive store for fragrances at the Nexus Mall in Koramangala, Bengaluru.