Markets at close: The domestic indices couldn’t keep up with their gaining streak, as by the end of the trade, bears took charge with the equity markets closing in deep red. BSE Sensex closed at 76,772.47, down 1342.37 points or 1.72%. The NSE Nifty too saw a sell-off, closing at 23,877.10, declining 384.5 points or 1.58%. The Nifty Bank index also slumped to 55,779.45, falling 1,171.35 points or 2.06%.
Markets at 1.40 PM: The domestic indices fell further as geopolitical tension in West Asia is yet to halt, which has led to a surge in crude oil prices, and fear of increased inflation. The Nifty 50 dropped 300 points or 1.24% to trade at 23,960, while the BSE Sensex fell 1,036 points or 1.32% to trade at 77,170.
Markets at 12 PM: Indian equity indices extended losses in Wednesday’s trade. The Nifty 50 struggled to defend 24,000, falling 262 points or 1.08% to trade at 23,999. The BSE Sensex was down 936 points or 1.20% to trade at 77,269.
Markets at open: Indian equity indices opened Wednesday’s trade on a muted note, with a bit of negative sentiment. The Nifty 50 dropped 5 points or 0.02% to open at 24,256, while the BSE Sensex opened 14 points or 0.02% lower at 78,191.
Markets ahead of opening: The big cue for the day is crude oil. Prices have seen wild swings from $117/bbl to below $85/bbl. Though crude is in green now, it is below $90/bbl. The GIFT Nifty indicated a muted start to trade, even as Asian markets are relatively upbeat.
Earlier on Tuesday, the NSE Nifty 50 closed the session 234 points or 0.97% higher at 24,262, while the BSE Sensex surged 640 points or 0.82% to close at 78,206.
Key global and domestic cues that affected on March 11, 2025
Crude oil
The crude oil prices traded higher on Wednesday morning, rebounding from lows, as the US flip-flopped on the Strait of Hormuz. WTI crude prices were trading at $83.43, falling 0.03%, while Brent crude prices were trading at $87.88, rising 0.05%. On COMEX, crude prices surged 1.12% to $84.420 a barrel.
The International Energy Agency (IEA) has proposed the largest release of oil reserves in its history to bring down crude prices after they soared during the war with Iran, according to a report by The Wall Street Journal.
This release would exceed the 182 million barrels of oil that IEA member countries put onto the market in two batches in 2022 when Russia launched its full-scale invasion of Ukraine.
Asian Markets
The Asian indices on Wednesday morning opened on a higher note as crude oil prices dropped from their heights. Japan’s Nikkei 225 jumped 1.36%, while the Topix added 1.22%. South Korea’s Kospi advanced 2.52%, while the small-cap Kosdaq rose 1.39%. Hong Kong Hang Seng index futures were at 25,936 compared with the index’s last close of 25,959.9.
US markets
The US equity markets closed in the red on Tuesday as oil prices pulled back and traders kept an eye on the Iran war. The S&P 500 dropped 0.21% to end at 6,781.48. The Dow Jones Industrial Average dipped 34.29 points, or 0.07%, and closed at 47,706.51. The Nasdaq Composite inched up 0.01% to settle at 22,697.10.
Gold rate today
The rate for 24-carat gold today is Rs 1,63,540 per 10 grams. The price of gold has risen by almost 1.76% from yesterday. The 24 kt gold rate today in Delhi is Rs 1,63,260 per 10 grams. The 18-carat gold price today in India is Rs 1,22,655. The 24-carat gold rate in Dubai today is Rs 1,49,590. On COMEX, the precious metal was trading at a price of Rs 5,220.90 an ounce, falling 0.40%.
Silver rate today
In India, the silver rate surged 3.52% at Rs 2.76 lakh per kilogram. On COMEX, Silver prices dropped 0.5% on Wednesday to trade at $89.150 per troy ounce. Silver had surged to record highs in January as well amid geopolitical tensions, economic uncertainty, and concerns over the Federal Reserve’s independence, with heavy speculative buying—especially from China—pushing prices higher.
FII, DII data
Foreign institutional investors (FII) were the net sellers of shares worth Rs 4,672.64 crore. On the other hand, the Domestic institutional investors (DII) were the net buyers of shares worth Rs 6,333.26 crore on March 10, 2025, according to the provisional data available on the NSE.
US dollar
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was down 0.11% at 98.83. The index evaluates the strength or weakness of the US dollar in comparison to major currencies. The basket contains currencies such as the British Pound, Euro, Swedish Krona, Japanese Yen, Swiss Franc, etc. The rupee appreciated 0.58% to close at 91.81 to the dollar on March 10.
Top sectors in Tuesday’s trade
The PSU Bank sector’s stocks fell the most in Tuesday’s trade, delining 4.2% in the market capitalisation. Further, cement stocks were followed by the automobile sector stocks, which were further followed by the plastic stocks. However, the sugar sector stocks rose the most, rising 0.51%.