Indian equities witnessed a sharp sell-off on Thursday, with benchmark indices declining amid weak global cues and stock-specific pressures. The Nifty 50 fell 2.24% to 23,245.45, while the BSE Sensex dropped 2.33% to 74,906.91 around 9:55 AM. The broader Nifty 500 also declined 2.14%, shedding 469.65 points to 21,447.75.
The fall was largely driven by HDFC Bank, which tumbled up to 8.66% after the resignation of its part-time chairman over ethical concerns. Rising crude oil prices, which surged to $112 per barrel after geopolitical tensions in the Middle East, along with a hawkish stance from the Federal Reserve, further dampened investor sentiment.
Adani Total Gas surged 9.12% to ₹562.7, gaining ₹47.05 with volume of 3,38,05,272 shares. The company is engaged in city gas distribution, supplying natural gas for domestic, commercial, and industrial use. Adani Total Gas share price rallied after the government classified PNG and CNG under Priority Sector I via the Natural Gas (Supply Regulation) Order, 2026. The surge was further supported by global LNG supply concerns due to West Asia tensions and disruptions near the Strait of Hormuz.
ACME Solar advanced 5.03% to ₹261.2, up ₹12.51 with volume of 54,45,870 shares. The company develops and operates solar power projects. Renewable energy stocks saw traction as higher fossil fuel prices improved the relative attractiveness of clean energy. ACME Solar’s subsidiary ACME Eco Clean Energy has commissioned an additional 8 MW of its 100 MW wind project in Gujarat, taking the total commissioned capacity to 84 MW. The milestone has been verified by GEDA and PGVCL, with the formal certificate expected soon.
Gujarat Fluorochemicals gained 3.67% to ₹3,258.10, rising ₹115.3 with volume of 2,16,653 shares. The company manufactures specialty chemicals and fluoropolymers. The stock movement may be linked to sectoral strength and demand outlook for specialty chemicals. Recently, the company informed that members have approved the revision in remuneration of Dr. Bir Kapoor, Deputy Managing Director. The company has not made any significant announcements of late. Hence, the rally in the share price could be driven purely by the market forces.
Hindustan Copper fell 4.93% to ₹465.05, down ₹24.1 with volume of 55,83,527 shares. The company is engaged in copper mining and production. The company said in exchange filings that BSE and the National Stock Exchange of India imposed ₹9,77,040 each as a penalty for non-compliance with board composition norms for the December 2025 quarter. The company stated that director appointments are pending with the Government and has sought an exemption from the fine.
Eternal slipped 5.03% to ₹230.35, losing ₹12.19 with heavy volume of 3,74,08,165 shares. The stock saw selling pressure amid broader market weakness and risk-off sentiment. The company said it received two GST orders on March 18, 2026. For FY20, authorities confirmed tax demand of ₹4,97,99,769 along with interest and equal penalty. For FY23, GST demand of ₹5,99,95,835 was confirmed with interest of ₹2,69,98,126 and penalty of ₹59,99,583.
Shriram Finance dropped 5.19% to ₹968.6, down ₹53 with volume of 42,33,905 shares. The company is a leading non-banking financial firm focused on retail lending. Financial stocks came under pressure following the sharp fall in HDFC Bank and concerns around governance risk in the sector. The company has not made any significant announcements of late. Hence, the decline in the share price could be driven purely by the market forces.
Indian shares fell sharply on Thursday, with the Nifty 50 down 2.24% and the Sensex losing 2.33%, dragged by a steep fall in HDFC Bank after its chairman resigned, citing ethical concerns. Weakness in financial stocks pulled the broader market lower, with all major sectors trading in the red.
Global cues also remained negative as crude oil surged to $112 per barrel after Iran attacked key energy facilities, while the Federal Reserve maintained a hawkish stance on interest rates. Rising oil prices and higher US rates reduced the appeal of emerging markets like India, further weighing on sentiment.
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