Mumbai, March 30: The Indian stock market experienced a significant downturn on the last trading session of the financial year 2025-26. By the end of the day, the Sensex closed at 71,947.55, down by 1,635.67 points or 2.22%. The Nifty also fell, closing at 22,331.40, a decline of 488.20 points or 2.14%.
The market witnessed widespread losses, with nearly all indices finishing in the red. The Nifty PSU Bank index dropped by 4.56%, while the Nifty Financial Services index fell by 3.49%. Other sectors such as Nifty Private Bank (3.37%), Nifty Realty (2.84%), Nifty India Defense (2.80%), Nifty Services (2.72%), Nifty Consumer Durables (2.58%), Nifty Media (2.50%), and Nifty Auto (2.39%) also reported declines.
Both mid-cap and small-cap stocks followed suit, with the Nifty Midcap 100 index falling by 1,447.80 points or 2.68%, closing at 52,650. The Nifty Smallcap 100 index decreased by 416.20 points or 2.66%, ending at 15,203.80.
Out of the 30 stocks in the Sensex pack, only two managed to close in positive territory. Bajaj Finance, SBI, Indigo, Axis Bank, Kotak Mahindra Bank, HDFC Bank, Trent, Bharti Airtel, UltraTech Cement, Mahindra & Mahindra, ITC, ICICI Bank, Sun Pharma, and Asian Paints were among the notable losers. Only Tech Mahindra and Power Grid ended the day with gains.
The sharp decline in the stock market resulted in a significant drop in the market capitalization of all companies listed on the Bombay Stock Exchange (BSE), which fell by approximately ₹10 lakh crore to ₹412 lakh crore, down from ₹422 lakh crore on Friday.
The primary reason for the market’s downturn is the escalating tensions in the Middle East, which show no signs of abating. This situation has weakened investor sentiment.
Sudeep Shah, head of Technical and Derivatives at SBI Securities, noted that the market opened with a gap down on the last day of the financial year. Although there was a slight recovery later, persistent selling pressure from higher levels exacerbated the decline, leading to the Nifty closing down by 2.14%.
He further indicated that support for the Nifty is around 22,200 to 22,150. If the decline continues from this point, the Nifty could drop to 22,000 and then 21,800. However, resistance levels are seen at 22,450-22,500.
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