Indian Markets Crash Over 3% in Broad-Based Selloff
Indian benchmark indices suffered their worst single-day decline in months on March 19, with the Nifty 50 crashing 775.65 points or 3.26% to close at 23,002.15. The BSE Sensex tumbled in tandem, with the selloff wiping out ₹12 trillion in market capitalisation in a single session.
| Index | Close | Change | % Change |
|---|---|---|---|
| Nifty 50 | 23,002.15 | -775.65 | -3.26% |
The sharp decline marked a dramatic reversal from Tuesday's session, when the Sensex had jumped 633 points and the Nifty closed above 23,750. Weakness was broad-based across sectors, with the selling pressure intensifying through the afternoon.
GIFT NIFTY Tracks Cash Market Lower
GIFT NIFTY mirrored the domestic market's collapse, closing at 23,108.50, down 100 points or 0.43% from its previous close of 23,208.50. The contract opened at 23,289.50 and touched an intraday high of 23,369.50 in early trade before succumbing to sustained selling pressure.
| Parameter | Level |
|---|---|
| Open | 23,289.50 |
| High | 23,369.50 |
| Low | 22,925.00 |
| LTP | 23,108.50 |
| Change | -100.00 (-0.43%) |
The derivative contract witnessed a violent selloff in late afternoon trade, plunging to a session low of 22,925.00 between 17:25 and 17:30 IST before recovering partially. The 444.50-point intraday range reflected extreme volatility as the market grappled with the sharp downturn.
GIFT NIFTY now stands at 23,108.50 heading into Session II, positioning below the psychological 23,200 mark as global uncertainty weighs on sentiment.