On Wednesday, the Indian stock market closed in red, with the Nifty 50 opening at 24,388.80, reaching a high of 24,602.45, and closing at 24,480.50, down 1.55%. Similarly, the BSE Sensex opened at 78,528.82, reached a high of 79,527.41, and ended at 79,116.19, down by 1.40%.Indian markets continued to decline amid broader selling pressure across sectors amid ongoing tensions in West Asia.Reasons for the negative sentimentThe following are the reasons for the negative sentiment in the stock market:Negative cues from global markets.FII fund outflows from the Indian markets.The India VIX rose 23.41% to 21.14, signalling increased volatility in the equity market.Rising crude oil prices put inflationary pressure on the Indian market.The rupee depreciated by 69 paise against the dollar, closing at 92.18.Major Indices Today IndicesLTPPrev closeChangeNifty 5024,480.5024,865.70-1.55%BSE Sensex79,116.1980,238.85-1.40%Next 5066,799.4068,650.25-2.70%Bank Nifty58,755.2559,839.65-1.81%Fin Nifty27,020.4527,564.10-1.97% The major indices, Nifty 50 and Sensex, traded in red, dragged by Banking, Metal, and Automobile stocks.Nifty Next 50 was trading lower, amid losses in FMCG, Metal, and Power stocks.Nifty Bank traded lower, dragged by losses in PSU Banking stocks amid worries that rising oil prices raise inflation and growth concerns for India.Sectoral Indices Today IndicesLTPPrev closeChangeNifty IT30,305.2530,272.950.11%Nifty Auto26,867.1527,540.10-2.44%Nifty FMCG49,797.5050,751.65-1.88%Nifty Pharma22,672.2022,956.70-1.24%Nifty Healthcare14,649.9514,857.35-1.40%Nifty Oil & Gas11,630.9012,001.30-3.09% Nifty IT traded in green, led by gains in Infosys stock after expanding strategic collaboration with Intel to help global enterprises adopt artificial intelligence (AI) pilots to full-scale production.Nifty Auto traded lower as automotive companies noted potential delays in auto parts supplies to the European Union (EU).Nifty Pharma traded lower amid selling pressure following the recent rally.Nifty Oil and Gas traded lower amid cautious investor sentiment amid the ongoing war between the U.S. and Iran.Market Movers Today Tourism-related stocks, namely India Tourism Development Corporation and Easy Trip Planners, fell 4% and 3%, respectively, amid ongoing tensions between the U.S and Iran.Shares of Metal companies, namely Tata Steel, JSW Steel, and Hindalco Industries, fell 7%, 5%, and 1%, respectively, due to selling pressure amid West Asia tensions.Natco Pharma shares rose by 2% after the company launched Pomalidomide Capsules in the U.S market, which is used to treat multiple myeloma in adults.City Gas distribution stocks like Mahanagar Gas dropped by 9% and Indraprastha Gas by 6% after reports that Qatar declared force majeure on deliveries following a halt in production due to an Iranian drone strike.Top Gainers Company NameLTPPrev CloseChangeSolar Industries14,523.0013,989.003.82%Swiggy297.75289.003.03%NALCO373.50362.852.94%Coal India435.15426.252.09%Bharti Airtel1,905.901,873.201.75% Top Losers Company NameLTPPrev CloseChangePetronet LNG280.00308.65-9.28%Steel Authority of India155.62165.59-6.02%Tata Steel196.73211.01-6.77%GAIL154.61165.07-6.34%Siemens3,161.003,341.60-5.40% 52W High Stocks Company NameLTP52W highChangeSundaram Finance5,440.005,642.002.62%Sai Life Sciences1,004.301,014.950.80%Acutaas Chemicals2,104.502,206.00-3.99%Pashupati Cotspin1,008.951,027.60-0.37%Manilam Industries54.9555.452.14% 52W Low Stocks Company NameLTP52W lowChangeWipro195.55194.51-1.52%DLF569.05562.75-3.58%IRFC97.7496.01-1.61%Shree Cement25,355.0024,955.00-2.95%REC328.75324.20-3.01% High Volume Stocks Today Company NameLTPPrev CloseChangeVodafone Idea9.9910.29-2.92%Yes Bank20.0120.18-0.84%Suzlon Energy39.9340.95-2.49%Eternal240.73242.87-0.88%IDFC First Bank70.0671.78-2.40% IPOsSEDEMAC Mechatronics IPO opened today and will close on 6th March. The price band set for the IPO is from ₹1,287 to ₹1,352 per share.Listed todayPNGS Reva Diamond Jewellery shares were listed today at a 3.63% discount on BSE, at ₹372 apiece, and at 2.85% discount on NSE, at ₹375. The price band set for the IPO was from ₹367 to ₹386 per share.Market AnnouncementsCipla shares dropped by 1.45% after the company entered into a joint venture agreement with Kemwell Biopharma to incorporate a JV company in India.Dev Information Technology shares rose by 3.75% after the U.S-Based Xduce Technologies acquired an additional equity stake of more than 9% in the company from promoters via open-market transactions on March 2.
