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Indices trade lower with cut of over 1.15% in late morning deals
Mar-13-2026

Domestic equity indices continued to witness bloodbath and were trading lower with cut of over 1.15 percent in late morning deals as market participants indulged in reducing their positions. Hectic selling in Larsen & Toubro, Tata Steel, Ultratech Cement, Bharat Electronics and Adani Ports companies’ stocks dragged frontline gauges below their crucial 23,350 (Nifty) and 75,200 (Sensex) levels. Rising crude oil prices and weak cues from the US markets weighed on the domestic sentiments. Traders were cautious after Iran’s new supreme leader Mojtaba Khamenei vowed to keep the Strait of Hormuz closed, the latest sign the market may face a prolonged supply disruption.

On the global front, Asian markets were trading in red following negative cues from the US markets overnight. Back home, most of sectoral indices on the BSE were trading in red led by Metal, Industrials, Basic Materials, Capital Goods and Auto.

The BSE Sensex is currently trading at 75154.54, down by 879.88 points or 1.16% after trading in a range of 75070.44 and 75576.20. There were 5 stocks advancing against 25 stocks declining on the index.

The only gaining sectoral index on the BSE was FMCG up by 0.36%, while Metal down by 3.77%, Industrials down by 3.06%, Basic Materials down by 3.01%, Capital Goods down by 2.44% and Auto down by 2.25% were the top losing indices on BSE.

The top gainers on the Sensex were Hindustan Unilever up by 2.30%, Trent up by 0.79%, Bharti Airtel up by 0.48%, Titan up by 0.09% and ITC up by 0.02%. On the flip side, Larsen & Toubro down by 4.29%, Tata Steel down by 3.90%, Ultratech Cement down by 3.35%, Bharat Electronics down by 3.32% and Adani Ports down by 2.38% were the top losers.

Meanwhile, the Indian Paper Manufacture Association (IPMA) has said that the ongoing geopolitical tensions in West Asia is likely to have a significant impact on Indian paper industry, creating various challenges, such as a rise in energy costs and a potential disruption in export markets, which will directly impact production costs for Indian paper mills.  

It noted that West Asia is a key export market for India, as the country exported about $980 million worth of paper and paperboard in FY25, of which nearly $290 million (close to 30 per cent) was shipped to West Asian markets. The exports primarily consist of uncoated writing and printing paper, coated paper and paperboard, and kraft paper. It said Paper Mills are facing problems in obtaining chemical supplies used in the manufacturing process, like hydrogen peroxide and binders, and downstream industries are likewise finding it difficult to manage their operations. 

IPMA also expressed significant concern that geopolitical instability in West Asia will lead to trade diversion by export-oriented paper-producing nations like China and Indonesia, which also rely heavily on West Asian markets. It said they may redirect surplus inventories to India as their exports to the region will also be affected. It said this could lead to an increase in imports in India at predatory prices, intensifying pressure on domestic manufacturers.  

The CNX Nifty is currently trading at 23335.95, down by 303.20 points or 1.28% after trading in a range of 23305.75 and 23492.40. There were 6 stocks advancing against 44 stocks declining on the index.

The top gainers on Nifty were Hindustan Unilever up by 2.18%, Tata Consumer up by 1.84%, Nestle up by 0.84%, Trent up by 0.69% and Bharti Airtel up by 0.44%. On the flip side, Hindalco down by 4.81%, Larsen & Toubro down by 4.29%, Tata Steel down by 3.99%, Tata Motors Passenger Vehicles down by 3.77% and Ultratech Cement down by 3.35% were the top losers.  

All Asian markets were trading lower; Nikkei 225 slipped 662.96 points or 1.22% to 53,790.00, Taiwan Weighted lost 181.54 points or 0.54% to 33,400.32, Jakarta Composite plunged 133.17 points or 1.84% to 7,228.95, Shanghai Composite weakened 16.09 points or 0.39% to 4,113.01, KOSPI dropped 107.17 points or 1.96% to 5,476.08, Hang Seng declined 187.76 points or 0.73% to 25,529.00 and Straits Times fell 2.29 points or 0.05% to 4,853.04.
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