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Karuthodi Radhakrishnan dies aged 83 Stock Market Today Afternoon Updates (16 March 2026): Sensex Falls Over 350 Points, Nifty Slips Below 23,100 Amid Global Tensions – Top Gainers & Losers
The Indian stock market is trading under pressure, with the Sensex falling over 350 points and the Nifty slipping below 23,100, amid rising global tensions and oil prices. Check the latest market updates, including top gainers and losers, and expert analysis on the market outlook.
Indian Stock Market Afternoon Update (16 March 2026): Sensex drops over 350 points while Nifty trades below 23,100. Check latest index levels, top gainers, losers and market analysis.
The Indian stock market traded under pressure in afternoon trade on Monday, 16 March 2026, as global geopolitical tensions and rising crude oil prices weighed on investor sentiment. Both benchmark indices — the BSE Sensex and Nifty 50 — remained in negative territory during midday trading.
Market volatility increased after escalating tensions in the Middle East pushed oil prices higher, raising concerns about inflation and India’s import bill. Analysts also noted continued foreign investor selling in Indian equities.
Key Market Indices (12:30 PM IST)
| Index | Level | Change |
|---|---|---|
| Sensex | 74,208 | ▼ 355 pts (-0.48%) |
| Nifty 50 | 23,045 | ▼ 107 pts (-0.46%) |
| Nifty Bank | 53,700 | ▼ 150 pts |
| Nifty IT | 35,480 | ▼ 0.3% |
| Nifty Pharma | 18,950 | ▲ 0.4% |
Both benchmark indices opened flat but slipped soon after the opening bell as selling pressure intensified across financial, auto and metal stocks.
Top Nifty Gainers (Afternoon Trade)
Some defensive and energy stocks provided limited support to the market.
| Stock | Price Change |
|---|---|
| Sun Pharmaceutical Industries | ▲ 1.2% |
| NTPC Limited | ▲ 0.9% |
| Coal India Limited | ▲ 0.8% |
| Power Grid Corporation of India | ▲ 0.6% |
| Wipro | ▲ 0.5% |
Pharma and energy shares remained relatively stable as investors shifted toward defensive sectors.
Top Nifty Losers
Financial and auto stocks saw notable selling pressure.
| Stock | Price Change |
|---|---|
| Bajaj Finance | ▼ 3.8% |
| Axis Bank | ▼ 3.4% |
| Bajaj Finserv | ▼ 3.1% |
| Mahindra & Mahindra | ▼ 2.8% |
| Maruti Suzuki | ▼ 2.5% |
Why the Market Is Falling Today
1. Rising Oil Prices
Crude oil prices climbed above $100 per barrel, triggering fears of higher inflation and a widening current account deficit for India, which is heavily dependent on oil imports.
2. Global Geopolitical Tensions
The ongoing conflict involving Iran and Western allies has increased uncertainty in global markets and disrupted energy supply routes.
3. Foreign Investor Outflows
Foreign institutional investors (FIIs) continued selling Indian equities amid global risk aversion and rising commodity prices.
Sector Performance
Top Performing Sectors
- Pharma
- Power
- Energy
Weakest Sectors
- Banking
- Auto
- Metals
Defensive sectors such as healthcare and utilities remained resilient while rate-sensitive sectors like banking and auto stocks faced pressure.
Market Outlook
Market experts expect volatility to continue in the short term as investors track global geopolitical developments and crude oil prices. If tensions in the Middle East escalate further, analysts warn the Nifty could see additional downside pressure in the near term.
However, domestic institutional investors have continued to provide some support to the market, limiting deeper declines.
✔ Key Levels to Watch
- Nifty Support: 23,000
- Nifty Resistance: 23,300
- Sensex Support: 74,000
- Sensex Resistance: 75,000
