Taking Stock | Bears back in action; Sensex down 502 points, Nifty near 17,300

More than 100 stocks touched their 52-week low on the BSE.

After seeing a relief run in the previous session, the Indian equity market again came under pressure on March 2 with the Nifty ending near 17,300 amid selling seen in the information technology, auto, FMCG and financial names.

At close, the Sensex was down 501.73 points or 0.84 percent at 58,909.35, and the Nifty was down 129 points or 0.74 percent at 17,321.90.

Amid mixed global cues, the market started on a muted note and witnessed selling as the day progressed, erasing all the previous session's gains and finishing near the day's low levels.

Also Read: Adani stocks gain after multiple block deals, SC order

Stocks and Sectors

Maruti Suzuki, Axis Bank, TCS, SBI Life Insurance and M&M were among the biggest losers on the Nifty, while gainers included Adani Ports, Adani Enterprises, Coal India, BPCL and Hero MotoCorp.

Among sectors, the Nifty information technology index fell more than 1 percent, while FMCG, auto and bank indices were down 0.5-0.8 percent.

The BSE midcap and smallcap indices ended with marginal losses.

Index	Prices	Change	Change%
Sensex	84,237.18	-541.66	-0.64%
Nifty 50	25,824.25	-141.80	-0.55%
Nifty Bank	57,958.45	-155.80	-0.27%

Nifty 50 25,824.25 -141.80 (-0.55%)

Tue, Oct 28, 2025

• 1D
• 5D
• 1M
• 3M
• 6M
• 1Y
• 2Y

Biggest Gainer	Prices	Change	Change%
JSW Steel	1,179.50	28.90	+2.51%

Biggest Loser	Prices	Change	Change%
Bajaj Finserv	2,124.70	-45.50	-2.10%

Best Sector	Prices	Change	Change%
Nifty Metal	10566.00	98.80	+0.94%

Worst Sector	Prices	Change	Change%
Nifty IT	35684.10	-445.00	-1.23%

On the BSE, the information technology index shed 1 percent, the auto index was down 0.85 percent, banks fell 0.87 and the FMCG index dipped 0.44 percent. On the other hand, the realty index added 2 percent, while oil and gas and power indices were up 0.2 percent each.

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More than 100 stocks touched their 52-week low on the BSE, including Den Networks, Cipla, Greenply Industries, Suven Life Sciences, Thyrocare Technologies, and Vikas WSP.

Among individual stocks, a volume spike of more than 100 percent was seen in Siemens, Laurus Lab and Bajaj Finserv.

A short build-up was seen in Siemens, Intellect Design Arena, and ICICI Prudential Life Insurance Company, while a long build-up was seen in Ambuja Cements, Adani Ports and Adani Enterprises.

Also Read - Supreme Court directs Sebi to probe Adani fallout, Gautam Adani responds

Outlook for March 3

Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas

The Nifty opened on a weak note and continued to drift lower to close around the lows for the day, down 129 points. After a positive close in the previous trading session, the Nifty did not witness follow-through buying interest. In fact, it has closed below the low (17,345) of the previous trading session which is a sign of weakness.

On the hourly charts, we can observe that the rise from the lows of 17,255 has been impulsive in nature indicating that a short-term bottom is in place and this dip is a retracement of that rise. It is trading in the crucial Fibonacci support zone of 17,336 – 17,300, which are 61.82 percent (17,336) and 78.6 percent retracement levels (17,300) respectively, and we expect the Nifty to hold on to this support and resume its next leg of up move. Overall, we believe that the Nifty is in a counter-trend pullback mode and the pullback is not complete yet.

Deepak Jasani, Head of Retail Research, HDFC Securities

The Nifty continued its down move on March 2 after a one-day rise, pulled down by weak Asian cues. At close, the Nifty was down 0.74 percent or 129 points at 1,7321.9. Volumes on the NSE were higher than the recent average, helped by bulk deals in Adani group stocks. Broad market indices fell less than the Nifty even as the advance-decline ratio fell to 0.75:1.

Adani group stocks ended in positive territory after a series of bulk deals and an order from the Supreme Court that directed the Securities and Exchange Board of India (SEBI) to investigate allegations raised in PILs in the Adani issue. A six-member panel has been appointed for assessing if there has been a regulatory failure.

A rally in global shares sputtered, pressured by a pullback in Chinese stocks (as analysts look for more evidence to gauge the pace of economic recovery) and higher US yields (10-year yield crossed 4 percent) amid fears that the Federal Reserve will keep raising interest rates to combat sticky inflation.

The Nifty needs to protect 17,255 in the near term to avoid further acceleration in selling. On upmoves, the 17,440-17,468 band could offer resistance.

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