Nifty ended below the 23,650 mark. Auto, FMCG and realty shares declined, while oil & gas, metal and media shares advanced.

As per provisional closing data, the barometer index, the S&P BSE Sensex tumbled 829.29 points or 1.08% to 76,034.42. The Nifty 50 index slumped 227.70 points or 0.95% to 23,639.15. In two consecutive trading sessions, the Sensex dropped 2.77% while the Nifty fell 2.56%.

The broader market outperformed the key equity indices. The S&P BSE Mid-Cap index slipped 0.24% and the S&P BSE Small-Cap index fell 0.32%.

The market breadth was negative. On the BSE, 1,724 shares rose and 2,508 shares fell. A total of 187 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, advanced 2.16% to 21.52.

IPO Update:

The initial public offer (IPO) of Innovision received bids for 13,19,571 shares as against 61,32,433 shares on offer, according to stock exchange data at 15:30 IST on Thursday (12 March 2026). The issue was subscribed 0.22 times.

The issue opened for bidding on 10 March 2026 and it will close on 12 March 2026. The price band of the IPO is fixed between Rs 521 and 548 per share.

Economy:

India's retail inflation stood at 3.21% in February, according to data released on Thursday. The Consumer Price Index (CPI)-based inflation had stood at 2.75% in January under the revised CPI series with 2024 as the base year. The latest inflation print comes at a time when tensions involving Iran, Israel and the United States have raised concerns about disruptions to global oil supplies. Year-on-year inflation rate based on All India Consumer Price Index (CPI) with base year 2024 for the month of February 2026 over February 2025 is 3.21% (provisional), the Ministry of Statistics & Programme Implementation stated.

Corresponding inflation rates for rural and urban are 3.37% and 3.02%, respectively. The year-on-year inflation rate based on All India Consumer Food Price Index (CFPI) for the month of February, 2026 over February, 2025 is 3.47% (Provisional). Corresponding inflation rates for rural and urban are 3.46% and 3.48%, respectively. Year-on-year Housing inflation rate for the month of February, 2026 is 2.12% (Provisional) and the corresponding inflation rates for rural and urban are 2.43% and 2.00%, respectively.

Buzzing Index:

The Nifty Auto index dropped 3.19% to 25,098. The index tumbled 6.24% in two consecutive trading sessions.

TVS Motor Company (down 5.08%), Mahindra & Mahindra (down 4.41%), Eicher Motors (down 3.72%), Maruti Suzuki India (down 3.7%), Ashok Leyland (down 3.57%), Hero MotoCorp (down 3.18%), Tata Motors Passenger Vehicles (down 3.18%), Bajaj Auto (down 1.73%), Bosch (down 1.26%) and Uno Minda (down 1.26%) declined.

Stocks in Spotlight:

Wipro rose 0.35%. The company has signed a multi-year agreement with TruStage, the Madison-based insurance and financial services provider, to modernize its retirement services division.

Shares of Eternal, the parent company of Zomato, declined 1.27%, while Swiggy slipped 1.63% during the session. Shares of food delivery companies fell on Thursday as a worsening shortage of commercial LPG cylinders raised concerns about disruptions in restaurant operations. The weakness follows reports that the LPG shortage could force some restaurants and eateries to temporarily shut operations or reduce menu offerings if the situation continues.

Raymond Realty declined 1.08%. The real estate arm of Raymond, said that it has launched Ten X District 9, a 9-acre residential development in Thane with an estimated revenue potential of Rs 2,000 crore.

Precision Wires India dropped 6.91% after the company announced that it is re-routing shipments and putting in place alternate logistics arrangements amid intensifying conflict in the Middle East.

KNR Constructions rose 0.67%. The company announced that it has received a Letter of Acceptance (LoA) worth Rs 50.47 crore from the Greater Hyderabad Municipal Corporation (GHMC) for the construction of a four-lane unidirectional flyover at Rasoolpura in Telangana.

Gopal Snacks shed 0.18%. The company said its manufacturing operations remain unaffected despite the ongoing gas supply shortage triggered by recent government restrictions on commercial gas usage.

The company added that it has already been using bio-coal as an alternative fuel at these facilities, reducing dependence on conventional gas supplies. This approach allows it to maintain production and ensure timely delivery of products. In a business update, the company said its manufacturing facilities at Modasa and Nagpur are operating normally and are capable of meeting current and future production requirements.

Aarti Industries (AIL) rallied 3.47% after the company has entered into a multi-year supply agreement with a top global agrochemical innovator for a critical agrochemical intermediate used in crop-protection formulations.

The agreement, valid through 31 March 2030, significantly increases volumes over the current annual engagement and is expected to generate revenue of approximately $150 million over the contract period, enhancing AIL’s revenue visibility in the medium to long term.

Uniparts India lost 3.58% after the company’s chief financial officer (CFO), Rohit Maheshwari has resigned with effect from 12 March 2026. Following his resignation the board approved the appointment of Sandeep Taneja as the group CFO, effective from 16 March 2026.

Enviro Infra Engineers rallied 4.84% after the company has secured a new project from Bihar Urban Infrastructure Development Corporation for the development of sewerage network and sewage treatment plant (STP) at Aurangabad. The project is valued at Rs 411.08 crore. The EPC work is scheduled to be completed within 15 months from the date of commencement, followed by an operation and maintenance (O&M) period of 5 years.

Diamond Power Infrastructure shed 0.18%. The company said that it has received an order from Tata Power Renewable Energy for the supply of 869 km of AL-59 Eco Conductors.

Shelter Pharma shed 0.29%. The company said it has secured an export order from First Vet Veterinary Medicines Trading LLC, UAE, for the supply of veterinary and animal healthcare products.

HDB Financial Services slipped 0.91%. The company said that its board has approved the allotment of 17,500 NCDs of face value of Rs 1 lakh each, aggregating to Rs 175 crore, on private placement basis.The debentures are proposed to be listed on the wholesale debt market segment of BSE.

The tenure of the instrument is 1,818 days and it bears a coupon of 7.6000% payable annually. They would be redeemed on maturity at par.

Aether Industries gained 3.64%. The company said a fire broke out at its external warehouse in Surat, adding that there were no casualties or injuries and that all facilities are operating normally without disruption.

Aurobindo Pharma added 0.49%. The company said that the United States Food and Drug Administration (USFDA) has issued an Establishment Inspection Report (EIR) for Unit-IV of APL Healthcare, a subsidiary of the company, located in SPSR Nellore district, Andhra Pradesh.

VA Tech Wabag rose 1.89% after the company said that it has secured a 'mega public-private partnership (PPP) contract from the Chennai Metropolitan Water Supply and Sewerage Board (CMWSSB), for a 45 MLD TTRO Plant in Chennai.

ACME Solar Holdings (ACME Solar) jumped 4.33% after the company announced, through its subsidiary ACME Greentech Seventh, it has signed two power purchase agreements (PPAs) with SJVN for a total capacity of 450 MW/1,800 MWh.

Vascon Engineers gained 1.08% after the company said that it has received a letter of intent (LoI) worth Rs 115.90 crore from the Ahmedabad Municipal Corporation for the development of Lotus Park in the city’s Southwest Zone.

Global Markets:

European market declined while most Asian markets ended lower on Thursday as investors grappled with volatile oil prices and escalating tensions in the Middle East, even after the U.S. and its allies announced an unprecedented emergency release of crude reserves to calm energy markets.

The International Energy Agency is looking to release 400 million barrels of oil following the supply disruption owed to the Iran war, the largest such action in the organization’s history. The IEA did not set out a timeline for when the stocks would hit the market.

The U.S. will release 172 million barrels of oil from the Strategic Petroleum Reserve to help lower energy costs, Energy Secretary Chris Wright reportedly said Wednesday evening stateside.

The announcement from the Energy Secretary came after President Donald Trump said earlier in the day that he would tap the Strategic Petroleum Reserve to keep a lid on energy prices.

Overnight in the U.S., the Dow Jones Industrial Average fell as investors continued to eye developments in the U.S.-Iran war and oil prices.

The 30-stock index shed 289.24 points, or 0.61%, to close at 47,417.27. The S&P 500 inched down 0.08% to settle at 6,775.80, while the Nasdaq Composite ticked up 0.08% to end the session at 22,716.13.