On March 13, 2026, the Indian stock market faced a massive sell-off, wiping out approximately 10 lakh crore rupees of investor wealth in a single session. The Nifty 50 index dropped by 488.15 points, a 2.06 percent decline, to close at 23,151.10. The BSE Sensex also crashed by 1,470.50 points, ending the day at 74,563.92. This marks the worst weekly performance for the markets in nearly four years, driven by global tensions and heavy foreign selling.
Which Companies Were the Top Losers Today?
The market crash impacted multiple sectors, but metal, banking, and auto companies saw the heaviest falls. Larsen & Toubro (L&T) was the biggest drag on the Nifty index, dropping over 7 percent due to its heavy exposure to global projects. The metal sector was particularly weak, with the Nifty Metal index falling nearly 4.5 percent.
| Company | Closing Price | Decline |
|---|---|---|
| Larsen & Toubro (L&T) | 3,434.40 Rs | -7.67% |
| Hindalco Industries | 600.00 Rs | -5.16% |
| Tata Steel | 150.00 Rs | -5.00% |
| State Bank of India (SBI) | 720.00 Rs | -4.00% |
| JSW Steel | 840.00 Rs | -2.35% |
Why Did the Share Market Crash So Badly?
Market experts point to multiple global factors behind this severe drop. Geopolitical tensions in West Asia involving the US-Iran conflict and the closure of the Strait of Hormuz disrupted global trade sentiment. Additionally, Foreign Institutional Investors (FIIs) pulled out over 7,049 crore rupees from the Indian market, marking their 10th consecutive day of selling. The Nifty IT index also continued its 8-week fall amid weak demand for traditional services.
The Indian Rupee hit a record low of 92.46 against the US Dollar, putting further pressure on import-dependent sectors. Reports state that the Reserve Bank of India (RBI) had to step into the forex market to control the currency’s extreme volatility. Despite the heavy fall, no market-wide circuit breakers triggered as the 2.06 percent drop stayed within the 10 percent limit. Technical experts from SBI Securities identified immediate support for the Nifty in the 23,000 to 22,950 zone.
