Sensex Falls Over 600 Points From Day’s High; Nifty Slips Below 23,400 On March 17

Equity markets declined on March 17, 2026, with the Sensex slipping by more than 600 points from its intra-day high, while the Nifty traded below 23,400, as profit-taking and FII outflows weighed on the market, as per Reuters.

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Indices Reverse Early Gains

The Sensex rose 511.46 points or 0.67% to hit an intraday high of 76,014.31 in early trade, while the Nifty touched 23,577.55. However, both indices pared gains and turned negative by mid-session.

At around 11:30 AM, the Sensex was down 104.93 points or 0.14% at 75,397.92, while the Nifty declined 16.90 points or 0.07% to 23,391.90.

On the previous day, i.e., March 16, during the last session, the Sensex had jumped by 938.93 points or 1.26% to close at 75,502.85, while the Nifty had risen by 257.70 points or 1.11% to close at 23,408.80.

Profit Booking At Higher Levels

There was selling pressure in all sectors, especially in IT, FMCG, and financial stocks. The IT index fell 0.8% ahead of the U.S. Federal Reserve's policy meeting scheduled for March 17–18.

Stocks such as Wipro, Cipla, and Bajaj Finance declined up to 3%, while Eternal Limited and Tata Steel gained up to 4%.

Continued Foreign Fund Outflows

Foreign institutional investors kept selling off their holdings in the market. They sold equities worth ₹9,365.52 crore on March 16, according to exchange data cited by Reuters. Total outflows in March have crossed ₹66,000 crore.

Rupee Weakness And Oil Prices

The Indian rupee weakened by 14 paise to 92.42 against the U.S. dollar during the session, impacted by rising crude oil prices and sustained capital outflows, according to Reuters.

Brent crude prices were hovering near $103 per barrel amid supply concerns linked to disruptions in the Strait of Hormuz, a key global oil transit route.

Geopolitical And Expiry-Driven Volatility

Meanwhile, the ongoing issues between the US, Israel, and Iran were still weighing on global market sentiments, with news of further escalations emerging from West Asia on March 17, according to Reuters.

Also, the expiry of Nifty derivatives contracts, which occur every week, led to high market volatility.

The overall market, meanwhile, remained strong, with the Nifty Midcap100 and Nifty Smallcap100 indices up by up to 0.2%, while market breadth remained strong with more stocks advancing compared to those declining.