Based on the OI percentage, 101 stocks including GAIL India, Power Grid Corporation of India, ABB India, Gujarat Gas, and Siemens witnessed a long unwinding.
The BSE Sensex on March 13, 2023, tanked 897 points or 1.52 percent to 58,238, while the Nifty50 plunged 259 points or 1.5 percent to 17,154, the lowest closing level since October 13 last year
Bears further tightened their grip over Dalal Street, dragging the benchmark indices significantly lower for the third day consecutive day on March 13. The turmoil in the US banking space with the collapse of Silicon Valley Bank and the closure of Signature Bank weighed down the market.
The selling was seen across sectors with major correction in banking & financial services, auto and realty stocks.
The BSE Sensex tanked 897 points or 1.52 percent to 58,238, while the Nifty50 plunged 259 points or 1.5 percent to 17,154, the lowest closing level since October 13 last year, and formed a big bearish candlestick pattern on the daily charts.
"The market broke all-important support levels and closed below the 17,250 level, which is negative. However, on the downside, the Nifty has major support between 17,000 and 16,900 levels," Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities said.
The BSE Sensex on March 13, 2023, tanked 897 points or 1.52 percent to 58,238, while the Nifty50 plunged 259 points or 1.5 percent to 17,154, the lowest closing level since October 13 last year
Bears further tightened their grip over Dalal Street, dragging the benchmark indices significantly lower for the third day consecutive day on March 13. The turmoil in the US banking space with the collapse of Silicon Valley Bank and the closure of Signature Bank weighed down the market.
The selling was seen across sectors with major correction in banking & financial services, auto and realty stocks.
The BSE Sensex tanked 897 points or 1.52 percent to 58,238, while the Nifty50 plunged 259 points or 1.5 percent to 17,154, the lowest closing level since October 13 last year, and formed a big bearish candlestick pattern on the daily charts.
"The market broke all-important support levels and closed below the 17,250 level, which is negative. However, on the downside, the Nifty has major support between 17,000 and 16,900 levels," Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities said.
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