Stock Market Today: Sensex Slides 380 Points, Nifty Holds 23,750; Adani Total Gas Jumps 14%

Overview

• Sensex opened sharply lower and plunged nearly 1,000 points intraday before recovering partially. At the same time, Nifty steadied near 23,750 amid geopolitical tensions.

• The main trigger for the market decline was Brent crude surging above $100 per barrel after Iran's attacks on fuel tankers near Iraq’s Basra port disrupted supply.

• Oil and gas stocks such as Adani Total Gas and Adani Power surged strongly as energy prices jumped. Meanwhile, auto and banking stocks faced heavy selling pressure.

The Indian stock market today, on Thursday, March 12, showed bearishness and signs of extreme caution. Brent crude surged amid the ongoing US-Iran war. Sensex opened over 950 points lower and crashed as far as 75,871.18, a drop of 992.53 points or 1.3% from its previous close. Nifty hit a low of 23,556.30, down 298.15 points or 1.25%. By midday, both indices had clawed back some ground.

Sensex recovered nearly 600 points from its low to trade around 76,481, still down roughly 380 points. Nifty steadied near 23,750, off about 0.5% at press time. Traders are no longer looking at charts for bullish patterns. They are glued to energy tickers and currency desks to see just how deep this correction will cut before the domestic bulls can build a credible defense.

Here’s everything you need to know about the stock market today based on Moneycontrol Updates. 

Why Markets Are Falling

The main driver pulling down the stock market today is crude oil. Brent crude oil price surged past $100 per barrel, up 8.82% to $100.09. The hike was a result of Iranian explosive-laden boats striking two fuel-oil tankers near Iraq's Basra port. Iraqi oil terminals completely halted operations following the attack. Even the International Energy Agency's announcement of a record 400 million barrel reserve release, along with a US commitment of 172 million barrels, failed to calm traders.

Foreign institutional investors (FIIs) continued heavy selling. On March 11 alone, FIIs net sold Rs. 6,267 crore worth of Indian equities. At the same time, domestic institutional investors (DIIs) net bought Rs. 4,966 crore. Hence, offering some cushion but not enough to reverse the trend. So far in 2026, FIIs have net sold Rs. 42,523 crore of Indian stocks.

Sectoral Performance

Nifty Auto index was the worst performer today, down nearly 3%. Mahindra & Mahindra fell 3.45%, leading the losses. Nifty Bank shed close to 2%, with IndusInd Bank falling 3.44%. On the brighter side, oil and gas stocks bucked the trend.

Adani Total Gas share price in intraday surged over 14% to Rs. 650, extending a 20% rally from the previous session. Adani Power stock gained 5.73%. In the power sector, Tata Power rose nearly 5% to Rs. 404.15, while NLC India gained 6.87% to Rs. 265.30.

Share Market News: Key Updates

Adani Enterprises shares rose 1.92% to Rs. 2,013.30. The hike came after its subsidiary Adani Defence Systems & Technologies completed the acquisition of a 14.2% stake in Air Works India, taking its total holding to 99.98%. Air Works is an aircraft maintenance, repair, and overhaul company.

TTK Prestige continued its strong run, rising nearly 9% to Rs. 582.90 on the third straight session of gains. The stock has surged nearly 30% over these three sessions, with volumes jumping over 1,200% above its five-day average.

Wipro signed a multi-year contract with US-based insurance and financial services firm TruStage. It is for the business and technology modernisation of its retirement services business. The stock traded marginally lower at Rs. 201.45.

Mahanagar Gas rose 2.32% to Rs. 1,072.60 on panic buying amid LPG shortage fears. Gas suppliers have curtailed deliveries due to geopolitical disruptions, impacting supplies to industrial and commercial customers. The Ministry of Petroleum has prioritised domestic and CNG gas supplies.

Borosil flagged that LPG supply curbs from oil marketing companies had disrupted production. Its Borosilicate Glass Furnace operations were temporarily suspended, while Opal Glass Furnaces in Jaipur were running at lower capacity.

Investors' total wealth on BSE fell by Rs. 14 lakh crore today. The overall BSE market capitalisation dropped to Rs. 436 lakh crore from Rs. 450 lakh crore witnessed on March 6.

Stocks in Focus on Nifty 50

Here is a table showing the most active stocks, top gainers and losers on Nifty 50 based on Moneycontrol market data.

Rupee, Gold, and Bond Markets

Indian rupee hit a fresh record low of 92.36 against the US dollar. It is down almost 31 paise from March 11th’s close of 92.01. A stronger dollar and heavy FII outflows are putting continued pressure on the currency.

Gold prices slipped marginally in the stock market today. Spot gold fell 0.1% to $5,172.86 per ounce, while MCX gold was down 0.4% to Rs. 1,61,081 per 10 grams. MCX silver dropped 0.86% to Rs. 2,66,174 per kg, with spot silver at $85.49 per ounce. Bond markets also felt the heat, with the benchmark 10-year yield spiking 5 basis points to 6.68%.

Also Read: US Stock Market Today: Wall Street Slides as Oil Prices Surge on Iran War Risks and Fed Rate Concerns

Investor and Market Outlook

Indian stock market today is under pressure due to concerns of fuel shortages amid escalating US-Iran war. As long as this continues, Nifty may be in a damage control phase. For long-term portfolios, the current panic selling in high-quality auto and banking stocks creates a massive value gap.

Technically, the 23,700 support for Nifty is the line in the sand; a failure here opens the door for a much deeper slide toward 23,300. Until the index can punch through the 24,100 resistance with heavy volume, the smart play is to stay light on leverage. Investors should ideally wait for the geopolitical dust to settle before making aggressive bets on a recovery.

Also Read: Nintendo Stock Rises as Pokémon Pokopia Boosts Switch 2 Demand

FAQs

1. Why is the stock market down today?

The stock market is down mainly because of rising crude oil prices and geopolitical tensions. Brent crude surged above $100 after attacks on oil tankers near Iraq disrupted supply. Higher oil prices often increase inflation and hurt economic growth. At the same time, foreign investors continued to sell Indian stocks heavily, adding further pressure to the market.

2. How did Sensex and Nifty perform today?

Sensex is trading around 76,481 after recovering from a steep early fall that pushed it below 76,000. Nifty is holding near the 23,750 level after dropping to around 23,556 earlier in the day. Both indices started the session sharply lower but recovered some losses as buying emerged in select energy stocks.

3. How are oil prices affecting the stock market?

Oil prices have a direct impact on many economies, including India, because the country imports a large amount of crude oil. When oil prices rise sharply, costs for businesses and transportation increase. This can push inflation higher and reduce company profits. As a result, investors often become cautious and sell stocks during sudden spikes in oil prices.

4. Which stocks gained in the stock market today?

Even though the broader market declined, some energy and power stocks performed strongly. Adani Total Gas surged more than 14% during intraday trading as investors bet on higher energy prices. Adani Power also gained over 5%, while Tata Power and NLC India rose significantly as the power sector benefited from rising energy demand.

5. Why are foreign investors selling Indian stocks?

Foreign institutional investors have been selling Indian equities because global uncertainty is rising. Higher oil prices, geopolitical tensions, and a stronger US dollar are making investors move money toward safer assets. On March 11 alone, FIIs sold more than Rs. 6,267 crore worth of stocks, bringing total outflows in 2026 to over Rs. 42,500 crore.