HOME > MARKETS > MARKET COMMENTARY
  MARKET COMMENTARY
EQUITY
Key gauges end sharply lower amid global jitters
Mar-11-2026

Indian equity benchmarks ended over one and half percent lower on Wednesday after a day's breather following a spike in crude oil prices amid growing tensions in West Asia. Besides, sustained foreign fund outflows and selling in blue-chip bank stocks also drove the markets lower.  

Some of the important factors in trade:  

Middle East conflict may pose downside risks to India's FY27 GDP growth: The rating agency ICRA said escalating conflict in West Asia could pose downside risks to India's economic growth outlook if the conflict persists. It expects India's real GDP growth to be around 7.1% in FY27, slightly lower than the 7.6% estimated for FY26.

India remains engaged with US government: Minister of State for Commerce and Industry Jitin Prasada has said that the government is studying all the tariff-related developments in the US for their implications and remains engaged with America. 

Fiscal deficit as percentage of GDP revised upwards for FY23 to FY25 after GDP base revision: The government said that the fiscal deficit as a percentage of GDP for three financial years till 2024-25 has been revised upwards following the revision in base year for calculation of GDP. 

Pharma stocks remain in watch: Chemicals and Fertilizers Minister J P Nadda has said that India's active pharmaceutical ingredient (API) exports reached at Rs 41,493 crore in FY25, surpassing total API imports of Rs 39,215 crore. 

Global front: European markets were trading lower as a surge in global oil prices weighed on investor sentiment following an escalation in the US-Iran conflict. Asian markets settled mostly higher as traders await key U.S. CPI data for additional clues on the Federal Reserve's interest-rate outlook.

Finally, the BSE Sensex fell 1342.27 points or 1.72% to 76,863.71 and the CNX Nifty was down by 394.75 points or 1.63% to 23,866.85.           

The BSE Sensex touched high and low of 78,324.37 and 76,759.26 respectively. There were 2 stocks advancing against 28 stocks declining on the index.

The top gaining sectoral indices on the BSE were Oil & Gas up by 0.46%, Utilities up by 0.31%, Energy up by 0.12%, Healthcare up by 0.08% and Power up by 0.04%, while Auto down by 3.06%, Bankex down by 2.06%, Consumer Discretionary down by 1.89%, Realty down by 1.70% and TECK down by 1.63% were the top losing indices on BSE.

The few gainers on the Sensex were NTPC up by 0.72% and Sun Pharma up by 0.66%. On the flip side, Bajaj Finance down by 5.01%, Axis Bank down by 4.26%, Bajaj Finserv down by 3.95%, Mahindra & Mahindra down by 3.81% and Maruti Suzuki down by 2.65% were the top losers.

Meanwhile, the Electronics and Computer Software Export Promotion Council (ESC) has said the export of computer software and services, including ITeS and BPO, grew by 11% to $222 billion in 2024-25 as compared to $200 billion in 2023-24.

ESC Chairman, Veer Sagar, said that IT Software and Services alone account for $147 billion, which represents about 66.2% of the total exports. Sagar said engineering services crossed $11 billion, the fastest-growing sub-sector at 13.99%. BPO Services added $58 billion. 

Besides, ESC, Chairman for Global Outreach, Sandeep Narula, said that the largest share of Indian software exports goes to the United States, which imported $117.43 billion, representing 52.9% of the total exports. Narula stated the UK is a distant second at $34.41 billion, followed by Japan, Germany, and the Netherlands, which complete the top five. These are not easy markets to win. Holding that kind of share in the US and UK, year after year, says something about the quality and reliability of what Indian firms deliver.

CNX Nifty touched high and low of 24,299.00 and 23,834.30 respectively. There were 8 stocks advancing against 42 stocks declining on the index.    

The top gainers on Nifty were JIO Financial Services up by 1.06%, Coal India up by 0.76%, Sun Pharma up by 0.62%, Dr. Reddy's Lab up by 0.59% and ONGC up by 0.52%. On the flip side, Bajaj Finance down by 4.88%, Axis Bank down by 4.62%, Bajaj Finserv down by 3.81%, Eicher Motors down by 3.66% and Mahindra & Mahindra down by 3.51% and were the top losers.

European markets were trading lower; UK’s FTSE 100 decreased 55.51 points or 0.53% to 10,356.73, France’s CAC fell 27.36 points or 0.34% to 8,030.00 and Germany’s DAX lost 175.33 points or 0.73% to 23,793.30.

Asian markets settled mostly higher on Wednesday following the International Energy Agency is reportedly proposing the largest release of oil reserves in its history to bring down crude prices that have soared during the US and Israel’s war on Iran. Meanwhile, investors were awaiting the release of key US inflation data for fresh insights into the Federal Reserve's rate path. Market Sentiments were further lifted by Oracle's strong cloud revenue results. A rebound in South Korean and Taiwanese chip shares also helped Asian stocks recover from a sharp global sell-off earlier in the week caused by escalating Middle East tensions.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

4,133.43

10.30

0.25

Hang Seng

25,898.76

-61.14

-0.24

Jakarta Composite

7,389.40

-51.51

-0.70

KLSE Composite

1,708.78

7.10

0.42

Nikkei 225

55,025.37

776.98

1.43

Straits Times

4,863.81

3.17

0.07

KOSPI Composite

5,609.95

77.36

1.40

Taiwan Weighted

34,114.19

1,342.32

4.10
  RELATED NEWS >>
Most Viewed >>
EXPLORE
© CITRUS INTERACTIVE
Designed & Developed Accord Fintech Pvt. Ltd.