Stock Market at Close: Sensex, Nifty Tumble Amid Broad-based Selling; ITC Jumps 4%

The Indian stock market ended deep in the red on March 13, 2024. At close, Sensex was down 906 points at 72,761.89 while Nifty ended the session down 338 points at 21,997.70.

Around 405 stocks advanced and 3,510 declined while 61 stocks remained unchanged.

The Association of Mutual Funds in India (AMFI), an industry body, has requested asset management companies (AMCs) to implement a policy aimed at safeguarding investors in the small-cap and mid-cap segments due to the growing speculation in the broader markets.

All other sectoral indices ended in the red, with Realty, Media, PSU Bank, Telecom, Power, Oil & Gas, and Metals down 4-6 percent.

Top Nifty50 Gainers

Top Nifty50 Losers

Most Active Stocks on NSE in Terms of Volumes

Asian Markets End Mixed

Asia-Pacific markets were mixed after Wall Street jumped overnight, following US inflation data that largely met expectations. Japan’s Nikkei 225 reversed gains to fall 0.26%, closing at 38,695.97. South Korea’s Kospi climbed 0.44% to 2,693.57.

Also read: HUL, Narayana Hrudayalaya Top 2 Stocks Which Can Fetch Good Returns

European Markets Trade Lower

European markets were lower on Wednesday morning as investors digested the latest US inflation report and UK gross domestic product figures, according to a CNBC.com report. The benchmark Stoxx 600 index opened slightly higher before dipping to a 0.24 percent loss. FTSE added 0.21 percent at 7,763.88 while CAC was up 0.48 percent at 8,126.16. German DAX gained 0.06 percent at 17,975.15.

Stocks That Moved the Most

ITC: Up 4.49%

On March 13, 2024, ITC’s share price jumped over 4 percent following a 3.5 percent stake sale by its top shareholder, British American Tobacco (BAT). BAT executed a Rs 17,491-crore block deal, selling a 3.5 percent stake in ITC. In this deal, BAT, the largest ITC shareholder, sold approximately 43.7 crore shares at an average price of Rs 400, representing a 1 percent discount compared to the previous session’s closing price of Rs 404.45.

Marcotech Developers: Down 9.62%

Promoter Sambhavnath Infrabuild and Farms sold 49.7 lakh shares, equivalent to a 0.5 percent stake, in the real estate developer Marcotech Developers at an average price of Rs 1,180.02 per share. This sale resulted in the share price of Marcotech Developers tumbling over 9 percent. The transaction was valued at Rs 586.72 crore.

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