The Nifty ended 228 points lower, while the Sensex was down by 829 points.
Shrikant Chouhan,
Head Equity Research,
Kotak Securities
Mumbai, March 12, 2026: Today, the benchmark indices continued profit booking at higher levels. The Nifty ended 228 points lower, while the Sensex was down by 829 points. Among sectors, the Auto Index lost the most, shedding over 3 percent, whereas despite weak market momentum, the Energy index outperformed and rallied 1.85 percent.
Technically, after a gap-down open, the market trimmed some losses but again corrected sharply due to profit booking at higher levels. On intraday charts, the market is forming a lower top, which suggests that the correction wave is likely to continue in the near future.
For day traders, 23850/76700 would act as a trend decider level. Below this, the market could slip to 23500-23350/75700-75300. On the flip side, above 23850/76700, a pullback move could extend to 24000-24100/77000-77500. The intraday market texture is volatile and non-directional; hence, level-based trading would be the ideal strategy for traders.
