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Trendlyne Marketwatch
13 Mar 2026
Market closes lower amid high oil prices and an all time low for the Indian rupee against the US dollar
By Trendlyne Analysis

 

Nifty 50 closed at 23,151.10 (-488.1, -2.1%), BSE Sensex closed at 74,563.92 (-1,470.5, -1.9%) while the broader Nifty 500 closed at 21,391.20 (-506.3, -2.3%). Market breadth is moving down. Of the 2,763 stocks traded today, 388 were on the uptick, and 2,343 were down.

Indian indices closed in the red as the Indian rupee hit an all-time low of Rs 92.5 against the US dollar amid Middle East tensions. The Indian volatility index, Nifty VIX, rose 5.2% and closed at 22.6 points. Society of Indian Automobile Manufacturers (SIAM) data showed a robust 29.8% YoY growth in total domestic vehicle sales to 23 lakh units in February. Exports also rose to 6.1 lakh units from 4.7 lakh units a year earlier.

Nifty Midcap 100 & Nifty Smallcap 100 closed in the red, following the benchmark index. BSE Metal and Nifty Metal were among the top index losers today. According to Trendlyne’s Sector dashboard, Telecommunications Equipment emerged as the worst-performing sector of the day, with a fall of 4.9%.

Asian indices closed in the red, while European indices are trading lower, except Russia’s MOEX & RTSI indices. US index futures traded higher as oil prices declined marginally after the US announced additional waivers allowing purchases of Russian crude to ease supply pressures caused by the Iran conflict. The US Treasury department issued a 30-day notice permitting countries to buy Russian oil already stranded at sea before March 12, offering some relief to markets rattled by fears of a potential oil shortage.

  • Money flow index (MFI) indicates that stocks like Coforge, Eternal and Manappuram Finance are in the oversold zone.

  • Krystal Integrated Services secures an order worth Rs 364 crore from Tamil Nadu Medical Services Corp to provide housekeeping, security and other services to government medical institutions.

  • Tata Motors secures cumulative orders for more than 5,000 buses and bus chassis from multiple State Transport Undertakings (STUs) across India.

  • Geojit BNP Paribas upgrades Muthoot Finance to a 'Hold' rating from 'Sell', with a higher target price of Rs 3,478 per share. This indicates a potential upside of 4.8%. The brokerage believes that visibility in loan book expansion and improving asset quality will drive net interest income (NII) and net profit growth. However, analysts remain cautious on the stock due to volatility in gold prices and a decline in gold collateral tonnage. It expects the firm to deliver an NII CAGR of 31.5% over FY26-28.

  • Centre for Research on Energy and Clean Air (CREA) believes India could absorb a significant share of the 6.9 million tonnes of Russian oil worth $2.9 billion currently stranded at sea. It notes that disruptions to oil flows in the Strait of Hormuz and a US waiver for Russian barrels could give Russia an advantage in finding buyers for its crude.

  • Balaji Amines is falling sharply as it reports that some methylamine plants are non-operational amid the supply shortage of ammonia due to the Israel-Iran war. Liquefied natural gas (LNG) is a raw material used to manufacture ammonia.

  • Caplin Point Laboratories' subsidiary, Caplin Steriles, gets US FDA final approval for its abbreviated new drug application (ANDA) for Potassium Phosphates injection. The drug is used to treat low phosphate levels in the blood to patients who cannot take supplements orally. It had sales of around $57 million in the 12 months ending January 2026, according to IQVIA.

  • Zydus Lifesciences receives approval from the US FDA for its Cevimeline Hydrochloride capsules, used to treat dry mouth associated with Sjögren’s syndrome. The drug had an estimated market size of $26.9 million, according to IQVIA.

  • Motilal Oswal maintains a 'Buy' rating on Maruti Suzuki with a target price of Rs 17,406. Despite relatively weak wholesale numbers and a softer-than-expected performance in Q3FY26, the brokerage remains positive on Maruti, citing strong retail demand after the GST rate cut, where the company outperformed peers in customer sales. It expects the company to outpace industry growth in FY27, supported by a robust pipeline of new launches.

  • PG Electroplast is falling sharply as its Managing Director (MD), Vikas Gupta, says that the company has lost nearly a week of AC production due to a liquefied natural gas (LNG) shortage at its plants amid the Middle East war.

  • Ramky Infrastructure is rising as its wholly-owned subsidiary, Maha Integrated Life Sciences City (MILEs City), secures a Rs 3,000 crore order from the Maharashtra Industrial Development Corporation (MIDC). The order involves developing a high-tech pharmaceutical park in the Raigad district.

  • Aurionpro Solutions secures a Rs 350 crore order from a leading hyperscale data centre operator to develop an AI-ready green data centre in India.

  • Anand Rathi initiates coverage on Emmvee Photovoltaic Power and Vikram Solar with a 'Buy' and 'Hold' ratings, respectively. The brokerage says Emmvee’s 9.3 GW order book provides multi-year revenue visibility. Meanwhile, it notes that Vikram Solar is transitioning from a pure module manufacturer to an integrated solar player by 2030, with plans to reach 15.5GW of module manufacturing capacity by Q1FY27 and a 12GW cell facility enabling significant backward integration.

  • Manorama Industries' board of directors approves raising Rs 500 crore by issuing equity or securities through a qualified institutional placement (QIP) or other modes.

  • Sigma Advanced Systems sells its entire 36.5% stake in Switzerland-based pharma company Extrovis AG for $15 million (~Rs 137.6 crore). The move is in line with the company's aim to expand its aerospace & defence business. The funds from the divestment will be used to expand manufacturing capacity and acquisitions in the business.

  • Godrej Properties acquires a 44-acre land parcel in Coimbatore to develop a premium plotted residential project with a developable potential of about 1.1 million sq. ft. and an estimated revenue potential of around Rs 450 crore.

  • The Society of Indian Automobile Manufacturers (SIAM) data reports a 29.8% YoY growth in total domestic vehicle sales to 23 lakh units in February. Exports also increased to 6.1 lakh units, up from 4.7 lakh units in February 2025. Rajesh Menon, Director General, SIAM, says festive demand in March could support sales, but the West Asia conflict remains a concern due to potential supply chain disruptions that may impact manufacturing and exports.

  • Smallcap World Fund Inc acquires 9.4 lakh shares in Shaily Engineering Plastics worth Rs 176.9 crore through a bulk deal at an average price of Rs 1,879 per share.

  • Gravita India plans to acquire a 99% stake in Rashtriya Metal Industries (RMIL) for Rs 559.1 crore to expand into copper and copper alloy products.

  • HFCL signs a five-year agreement worth $1.1 billion (around Rs 10,159 crore) with a multinational company to supply high-quality, high-fibre-count optical fibre cables.

  • UBS initiates coverage on Eureka Forbes with a 'Buy' rating and a target price of Rs 640. The brokerage believes Eureka Forbes has a long growth runway, supported by structural tailwinds in water purifiers, improving service-led profitability, and emerging opportunities in vacuum cleaners and air purifiers. It adds that the stock offers an attractive risk-reward profile, noting that the market underestimates the company’s scale advantages in water purifiers and services.

  • DCM Shriram's board of directors approves a Rs 130 crore capex to set up renewable energy infrastructure for a 48 MW project. The board also approves a Rs 87 crore investment to acquire a 26% stake in a special purpose vehicle (SPV) for a renewable energy project for its Bharuch plant.

  • Biocon's subsidiary, Biocon Pharma, receives approval from the US FDA for its abbreviated new drug application (ANDA) for liraglutide injection. The drug is used to treat type 2 diabetes and had an estimated market size of $6.9 billion in 2025.

  • Kalpataru surges as it signs a redevelopment project of Shree Mahalakshmi CHS in Andheri West, Mumbai. The project covers around 3 acres of land with an estimated gross development value (GDV) of Rs 1,400 crore.

  • Max Financial Services' board of directors approves raising Rs 2,000 crore by issuing equity or other securities through a qualified institutional placement (QIP) or other modes. The company will use the proceeds to fund the expansion of its subsidiary, Axis Max Life Insurance.

  • Nifty 50 was trading at 23,455.70 (-183.5, -0.8%), BSE Sensex was trading at 75,444.22 (-590.2, -0.8%), while the broader Nifty 500 was trading at 21,740.50 (-157, -0.7%).

  • Market breadth is sharply down. Of the 2,151 stocks traded today, 514 were on the uptrend, and 1,576 went down.

Riding High:

Largecap and midcap gainers today include L&T Technology Services Ltd. (3,430.10, 9.6%), Muthoot Finance Ltd. (3,333.20, 2.8%) and Tata Consumer Products Ltd. (1,083.60, 2.4%).

Downers:

Largecap and midcap losers today include Larsen & Toubro Ltd. (3,439, -7.5%), Adani Total Gas Ltd. (565.90, -6.9%) and IDBI Bank Ltd. (92.18, -6.7%).

Movers and Shakers

17 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included L&T Technology Services Ltd. (3,430.10, 9.6%), ACME Solar Holdings Ltd. (255.61, 6.5%) and IFCI Ltd. (57.21, 6.0%).

Top high volume losers on BSE were Craftsman Automation Ltd. (6,674, -9.3%), KPR Mill Ltd. (839.20, -7.7%) and Larsen & Toubro Ltd. (3,439, -7.5%).

Zydus Wellness Ltd. (404.25, 4.0%) was trading at 603.7 times of weekly average. Syngene International Ltd. (420.85, 4.2%) and Niva Bupa Health Insurance Company Ltd. (72.30, 3.2%) were trading with volumes 15.1 and 14.6 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

6 stocks made 52 week highs, while 73 stocks hit their 52 week lows.

Stocks touching their year highs included - Ajanta Pharma Ltd. (3,030.60, -2.9%), Coal India Ltd. (467, -0.7%) and Great Eastern Shipping Company Ltd. (1,459.90, -1.8%).

Stocks making new 52 weeks lows included - ACC Ltd. (1,376.40, -4.0%) and Alembic Pharmaceuticals Ltd. (677.95, -3.6%).

12 stocks climbed above their 200 day SMA including ACME Solar Holdings Ltd. (255.61, 6.5%) and IFCI Ltd. (57.21, 6.0%). 32 stocks slipped below their 200 SMA including Craftsman Automation Ltd. (6,674, -9.3%) and Ceat Ltd. (3,470.50, -8.8%).

 
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