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Indices trade deeply in red in late morning deals
Mar-11-2026

Domestic equity indices traded deeply in red in late morning deals as market participants indulged in reducing their positions. Hectic selling in Mahindra & Mahindra, Axis Bank, Bajaj Finance, HDFC bank and Bajaj Finserv companies’ stocks dragged both the Sensex and Nifty below their psychological 77,300 and 24,050 levels, respectively. Depreciation in Indian rupee against dollar too weighed down sentiments. Rupee weakened by 8 paise to 90.93 against the dollar on account of increased demand for the American currency from importers and banks. On the BSE sectoral front, traders were seen piling up positions in Utilities, Healthcare, Power, Oil & Gas and Metal, while selling was witnessed in Auto, Bankex, TECK, Consumer Discretionary and FMCG. 

On the global front, Asian markets were trading mixed as investors assessed the ongoing Middle East war. Back home, in the stock specific development, 3i Infotech surged as the company received an order worth around Rs 5.66 crore from a prominent Indian engineering and industrial solutions company specializing in power and industrial equipment for providing Managed IT services across multiple locations for three years.

The BSE Sensex is currently trading at 77277.80, down by 928.18 points or 1.19% after trading in a range of 77277.16 and 78324.37. There were 7 stocks advancing against 23 stocks declining on the index.

The top gaining sectoral indices on the BSE were Utilities up by 0.90%, Healthcare up by 0.70%, Power up by 0.60%, Oil & Gas up by 0.47% and Metal up by 0.41%, while Auto down by 1.72%, Bankex down by 1.44%, TECK down by 0.89%, Consumer Disc down by 0.81% and FMCG down by 0.54% were the top losing indices on BSE.

The top gainers on the Sensex were Sun Pharma up by 1.16%, NTPC up by 0.98%, Adani Ports up by 0.80%, Power Grid up by 0.67% and Tech Mahindra up by 0.57%. On the flip side, Mahindra & Mahindra down by 2.84%, Axis Bank down by 2.71%, Bajaj Finance down by 2.54%, Bajaj Finserv down by 2.27% and HDFC Bank down by 2.16% were the top losers.

Meanwhile, Minister of State for Finance Pankaj Chaudhary has said that the fiscal deficit as a percentage of GDP has been revised upwards for the fiscal years 2022-23, 2023-24, and 2024-25. This revision in fiscal deficit figures comes in light of adopting 2022-23 as the new base year for Gross Domestic Product (GDP) calculations, providing a refreshed perspective on the country's economic dynamics. 

According to the new GDP series, the fiscal deficit as a percentage of GDP is projected to be 4.9 per cent for FY25, 5.7 per cent for FY24, and 6.7 per cent for FY23. The fiscal deficit was earlier estimated at 4.8 per cent for FY25, 5.63 per cent for FY24 and 6.4 per cent for FY23. In absolute term, fiscal deficit stood at Rs 15.74 lakh crore in FY25, Rs 16.55 lakh crore in FY24 and Rs 17.38 lakh crore in FY23.   

On February 27, 2026, the government introduced the new series of GDP estimates with 2022-23 as the base year, replacing the previous series with a base year of 2011-12. Under the new GDP series, the Nominal GDP or GDP at Current Prices is estimated at Rs 318.07 lakh crore in 2024-25 and Rs 289.84 lakh crore for 2023-24.

The CNX Nifty is currently trading at 24033.55, down by 228.05 points or 0.94% after trading in a range of 24009.20 and 24299.00. There were 14 stocks advancing against 36 stocks declining on the index.

The top gainers on Nifty were JIO Financial up by 2.25%, Dr. Reddy's Lab up by 1.51%, Sun Pharma up by 1.29%, Coal India up by 1.16% and NTPC up by 0.98%. On the flip side, Mahindra & Mahindra down by 2.77%, Axis Bank down by 2.64%, Bajaj Finance down by 2.32%, Bajaj Finserv down by 2.09% and HDFC Bank down by 2.08% were the top losers.

Asian markets were trading mixed; Nikkei 225 surged 686.61 points or 1.25% to 54,935.00, Taiwan Weighted added 1342.32 points or 3.93% to 34,114.19, Shanghai Composite strengthened 7.96 points or 0.19% to 4,131.10 and KOSPI increased 28.29 points or 0.51% to 5,560.88. However, Hang Seng declined 41.9 points or 0.16% to 25,918.00, Straits Times fell 5.57 points or 0.11% to 4,855.07 and Jakarta Composite plunged 3.1 points or 0.04% to 7,437.81. 
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