FII net sell shares worth Rs 1,628 crore, DIIs net buyers of Rs 1,510 crore

Indian benchmarks, the Nifty 50 and Sensex, recovered from intraday lows to end March 12’s volatile session near the flatline. Early gains faded amid heavy IT stock selling, but strength in Bajaj Finance, HDFC Bank, ITC, Tata Motors, and Reliance Industries helped pare losses.

Caution prevailed ahead of the US inflation report, as concerns grew that Trump's tariff hikes could drive prices higher, forcing the Federal Reserve to keep rates elevated. This stoked fears of a US recession and a broader global trade war, with the EU planning retaliatory tariffs on 28.33 billion dollars worth of US goods.

Weak global cues added to market jitters, with Wall Street extending losses and Asian equities under pressure. "Uncertainties around global trade and recession fears continue to weigh on sentiment," said Vinod Nair, Head of Research at Geojit Financial Services.

At close, the Sensex fell 72.56 points or 0.10 percent to 74,029.76, while the Nifty slipped 27.40 points or 0.12 percent to 22,470.50. Market breadth remained weak, with 1,440 shares advancing, 2,383 declining, and 129 unchanged.

On the technical front, Jatin Gedia of Mirae Asset Sharekhan noted that the Nifty held the 22,300 support level despite IT sector pressure. With a positive crossover on daily and hourly momentum indicators, he maintained a bullish short-term outlook, targeting 22,800 to 23,000, with key support at 22,300 to 22,250.

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