Stock Market close: Sensex sinks 1,837 pts, Nifty at 22,512 as US-Iran conflict escalates | Markets News

Stock Market LIVE Updates: The Nifty 50 ended the session on a weak note, continuing its broader downtrend amid sustained selling pressure. The index closed near the 22,500–22,450 zone, attempting to stabilize around immediate support levels after the recent sharp correction. However, a decisive close below 22,500 would confirm further weakness and may trigger an accelerated decline toward 22,200, followed by the critical support zone of 22,000–21,800, which remains a key psychological and historical demand area.

 

The overall market structure remains clearly bearish, with a consistent formation of lower highs and lower lows, indicating strong downward momentum. On the upside, the 22,650–22,700 range now acts as immediate resistance, while the 22,900–23,000 zone stands as a strong supply area aligned with previous breakdown levels. Any pullback toward these zones is likely to attract fresh selling unless supported by strong institutional buying.

 

Momentum indicators continue to reflect weakness, with RSI remaining in the oversold territory—indicating stretched conditions but no confirmed reversal signals yet—while MACD stays firmly in negative territory, reinforcing the bearish trend.

 

Stock Market LIVE Updates: Domestic markets witnessed a sharp decline, mirroring weakness across Asian markets amid escalating tensions in the Middle East and concerns over potential disruptions to global energy supplies. Investor sentiment turned cautious following Trump’s 48-hour ultimatum to Iran on the Strait of Hormuz. Rising global bond yields signalled heightened inflation and fiscal concerns, while the rupee falling to a record low further pressured markets and triggered FII outflows.

Broad-based selling was observed across sectors, with metals, realty, and consumer durables leading the losses, and mid- and small-cap stocks underperforming. In the near term, markets are likely to remain risk-averse until there is greater clarity on de-escalation, though the correction is offering selective long-term opportunities for investors.

View by: Vinod Nair, head of research, Geojit Investments.

Stock Market LIVE Updates: HCLTech, Power Grid and Tech Mahindra were the only gainers on Sensex. 

Stock Market LIVE Updates: Heavy selling was seen across counters. 

Stock Market LIVE Updates: Nifty Midcap 100 and Smallcap 100 closed over 3 per cent lower. 

Stock Market LIVE Updates: NSE Nifty50 closed at 22,512.65, down 601.85 points or 2.6 per cent. 

Stock Market LIVE Updates: BSE Sensex closed at 72,696.39, down 1,836.57 points or 2.46 per cent. 

Stock Market LIVE Updates: Shares of real estate companies fell as much as 7 per cent on Monday, March 23, as escalating tensions in West Asia triggered a broad-based selloff across sectors. Read more. 

Stock Market LIVE Updates: Share price of Gujarat Alkalies and Chemicals moved higher by 9 per cent to ₹586.35 on the BSE in Monday’s intra-day trade amid heavy volumes in an otherwise weak market. BSE benchmark Sensex was down 2.5 per cent at 72,695 at 01:34 PM. Read more.