Selloff Deepens As US-Israel-Iran War Enters 3rd Week

16 Mar 2026 , 12:25 PM

Weekly Market Wrap – Broad-Based Selloff Deepens Market Weakness

In the week ended 13 March 2026, the NIFTY 50 declined 5.31%, marking its fourth loss in the past five weeks amid widespread selling across sectors. Banking stocks witnessed another week of heavy selling. NIFTY BANK plunged 6.97%, reflecting pressure across both large and mid-sized lenders. Auto stocks also witnessed significant weakness, as NIFTY AUTO dropped 10.6%, extending its recent losing streak.

Selling pressure was visible across several other sectors as well. NIFTY FMCG declined 4.10%, and NIFTY IT slipped 3.54%, highlighting continued weakness across key segments of the market. Mid-cap stocks were also affected, with NIFTY MIDCAP SELECT falling 4.16% during the week. Meanwhile, NIFTY ENERGY edged modestly lower by 0.68%, and NIFTY PHARMA continued to outperform by declining only 0.60%.

NIFTY 50 – Sharp Weekly Decline Amid Broad-Based Selling

Weekly Performance: -5.3%

Date	Open	High	Low	Close
2026-03-06	24656.4	24700.9	24415.8	24450.5
2026-03-09	23868.0	24078.2	23697.8	24028.0
2026-03-10	24280.8	24303.8	24080.0	24261.6
2026-03-11	24231.8	24299.0	23834.3	23866.8
2026-03-12	23674.8	23833.2	23556.3	23639.2
2026-03-13	23462.5	23492.4	23112.0	23151.1

Source: NSE

Figure: Recent performance

Source: NSE

The NIFTY 50 declined 5.31% in the week ended 13 March 2026, marking the fourth loss in the past five weeks amid broad-based market weakness and persistent selling pressure across frontline stocks. Sharp declines in LT (-12.93%), M&M (-12.05%), AXISBANK (-9.01%), HDFCBANK (-4.69%), and ICICIBANK (-4.46%) emerged as the key drags on the index, with weakness in banking and infrastructure stocks weighing significantly on overall sentiment. On the upside, a few stocks provided limited support, as COALINDIA (+6.03%), along with NTPC, POWERGRID, WIPRO, and SUNPHARMA, posted gains that helped cushion part of the downside. However, the broader market remained under pressure, with 6 stocks advancing against 43 declining.

NIFTY MIDCAP SELECT – Sharp Weekly Decline Amid Weak Market Breadth

Weekly Performance: -4.2%

Date	Open	High	Low	Close
2026-03-06	13246.8	13324.5	13153.1	13166.9
2026-03-09	12910.9	12971.6	12681.1	12942.3
2026-03-10	13147.2	13242.2	13028.9	13209.5
2026-03-11	13237.1	13296.0	12936.6	12961.9
2026-03-12	12884.2	13068.6	12701.8	12961.1
2026-03-13	12884.6	12917.6	12579.5	12618.5

Source: NSE

Figure: Recent performance

Source: NSE

The NIFTY MIDCAP SELECT declined 4.16% in the week ended 13 March 2026, extending its ongoing downtrend and reflecting sustained selling pressure across the mid-cap segment. Significant declines in POLYCAB, BHARATFORG, MAXHEALTH, ASHOKLEY, and COFORGE emerged as the key drags on the index, with several of these stocks falling more than 12–15% during the week, exerting notable pressure on the benchmark. On the upside, a few stocks provided limited support, as BSE, DIXON, AUROPHARMA, and POLICYBZR posted gains that helped partly offset the decline. Market breadth remained extremely weak, with only 4 stocks advancing against 21 declining.

NIFTY IT – Pace of Selling Accelerated After a Modest Outperformance in the Prior Week

Weekly Performance: -3.5%

Date	Open	High	Low	Close
2026-03-06	30074.6	30664.9	30062.8	30138.4
2026-03-09	29688.1	30241.1	29533.9	30162.1
2026-03-10	30337.6	30360.2	29741.1	30024.1
2026-03-11	30043.8	30231.4	29598.3	29651.7
2026-03-12	29587.1	29790.8	29322.8	29579.4
2026-03-13	29381.7	29508.4	28936.8	29071.3

Source: NSE

Figure: Recent performance

Source: NSE

The NIFTY IT fell 3.54% in the week ended 13 March 2026, extending its losing streak to five consecutive weeks and reflecting sustained weakness across the technology sector. Major IT heavyweights TCS (-5.75%) and INFY (-4.78%) were among the key contributors to the decline, while additional pressure from COFORGE, HCLTECH, MPHASIS, and PERSISTENT further weighed on the index. However, a couple of stocks managed to post gains. WIPRO (+1.12%) and TECHM (+0.08%) offered modest support to the index. Market breadth remained negative, with only 2 stocks advancing compared with 7 declining, underscoring widespread weakness across the IT pack.

NIFTY BANK – Banking Stocks Slide as Sector-Wide Selling Intensifies

Weekly Performance: -7.0%

Date	Open	High	Low	Close
2026-03-06	58629.6	58807.1	57696.4	57783.2
2026-03-09	56121.4	56274.1	55270.6	56019.8
2026-03-10	56583.9	57097.1	56387.2	56950.8
2026-03-11	56790.4	56938.4	55631.9	55735.8
2026-03-12	55008.2	55636.9	54760.6	55100.9
2026-03-13	54592.1	54713.8	53675.7	53757.9

Source: NSE

Figure: Recent performance

Source: NSE

The NIFTY BANK declined 6.97% in the week ended 13 March 2026, extending the recent weakness for the third straight week in the banking sector. Heavyweight lenders HDFCBANK and ICICIBANK, which together account for more than 53% of the index, were among the major contributors to the decline, each falling around 4.5–4.7% during the week. Additional pressure came from mid-sized lenders, including FEDERALBNK, AUBANK, CANBK, PNB, and BANKBARODA, which also recorded notable losses. The weakness was widespread across the sector, with all 14 stocks in the index declining during the week.

NIFTY ENERGY – Mild Weekly Decline as Oil & Gas Stocks Weigh on Index

Weekly Performance: -0.7%

Date	Open	High	Low	Close
2026-03-06	36320.9	36606.6	36160.0	36319.6
2026-03-09	35854.4	35942.6	35289.0	35657.8
2026-03-10	36099.6	36118.4	35719.2	36038.9
2026-03-11	36167.2	36536.6	36070.1	36138.5
2026-03-12	36077.1	37007.1	35838.8	36834.4
2026-03-13	36922.4	37116.6	35996.1	36071.9

Source: NSE

Figure: Recent performance

Source: NSE

The NIFTY ENERGY edged lower by 0.68% in the week ended 13 March 2026, marking another week of mild weakness after the brief rally seen earlier. Declines in major oil and gas names ONGC (-5.3%), GAIL (-5.1%), and BPCL weighed on the index and outweighed gains from other constituents. On the gaining side, COALINDIA advanced over 6%, while ATGL surged more than 17%, providing notable support during the week. Smaller upticks in SUZLON, ABB, and TATAPOWER also contributed on the upside. Market breadth remained relatively weak, with 17 stocks advancing against 23 declining.

NIFTY FMCG – All Stocks Barring One End In Red

Weekly Performance: -4.1%

Date	Open	High	Low	Close
2026-03-06	49847.6	50173.6	49679.5	49970.6
2026-03-09	49299.4	49321.6	48740.9	49192.4
2026-03-10	49627.5	49717.6	49288.1	49603.6
2026-03-11	49649.6	49685.5	48964.9	49059.7
2026-03-12	48909.8	48929.0	48036.5	48189.1
2026-03-13	48047.8	48642.9	47852.2	47924.1

Source: NSE

Figure: Recent performance

Source: NSE

The NIFTY FMCG declined 4.10% in the week ended 13 March 2026, marking the fourth weekly fall in the past five weeks and reflecting increasing weakness across consumer stocks. The downturn was led by heavyweight ITC (-2.66%), which carries a substantial weight in the index, along with sharp declines in VBL (-10.35%) and HINDUNILVR (-2.95%). Additional pressure from DABUR (-5.24%), EMAMILTD (-9.25%), and GODREJCP (-7.94%) further pulled the index lower. Only RADICO (+0.54%) managed to close in positive territory, providing minimal support. Overall participation remained extremely negative, with just 1 stock advancing against 14 declining.

NIFTY AUTO – Sharp Weekly Decline Amid Widespread Selloff

Weekly Performance: -10.6%

Date	Open	High	Low	Close
2026-03-06	27247.2	27321.1	27042.4	27076.4
2026-03-09	26478.4	26478.4	25733.5	25965.9
2026-03-10	26462.8	26840.7	26200.4	26770.6
2026-03-11	26761.8	26851.7	25875.2	25926.0
2026-03-12	25688.3	25721.3	25046.0	25098.0
2026-03-13	24784.2	24918.2	24100.6	24195.1

Source: NSE

Figure: Recent performance

Source: NSE

The NIFTY AUTO declined 10.64% in the week ended 13 March 2026, extending its recent slide as selling pressure intensified across the automobile sector. Major contributors to the decline included M&M (-12.05%) and MARUTI (-11.07%), both of which carry significant weight in the index and exerted notable pressure during the week. Additional weakness in EICHERMOT, BAJAJ-AUTO, and TVSMOTOR, which also recorded declines, further weighed on the index. Losses in BOSCHLTD and HEROMOTOCO added to the downside momentum. Market breadth was extremely weak, with all 14 constituents ending the week in the red.

NIFTY PHARMA – A Modest Decline and Continued Outperformance

Weekly Performance: -0.6%

Date	Open	High	Low	Close
2026-03-06	23005.1	23131.7	22877.6	22970.2
2026-03-09	22638.8	22977.9	22506.2	22933.8
2026-03-10	23042.6	23305.1	23039.3	23253.7
2026-03-11	23311.8	23540.9	23283.1	23348.1
2026-03-12	23299.7	23388.0	23083.2	23275.2
2026-03-13	23198.8	23317.1	22780.7	22832.2

Source: NSE

Figure: Recent performance

Source: NSE

The NIFTY PHARMA slipped 0.60% in the week ended 13 March 2026, bringing an end to its four-week gaining streak. On the gaining side, AUROPHARMA (+5.24%) emerged as the top performer, while IPCALAB (+4.46%) and AJANTPHARM (+4.26%) also recorded notable gains during the week. However, losses in DIVISLAB (-4.08%), ALKYLAMINE (-3.16%), and DRREDDY (-0.88%) outweighed these advances and pulled the index lower. Market participation remained slightly negative, with 8 stocks advancing against 12 declining.

NIFTY REALTY – Weekly Slide Extends Losses in Real Estate Stocks

Weekly Performance: -4.3%

Date	Open	High	Low	Close
2026-03-06	756.4	757.4	740.6	742.0
2026-03-09	726.1	734.3	715.0	732.8
2026-03-10	742.5	747.0	734.5	744.1
2026-03-11	746.9	754.3	729.6	731.4
2026-03-12	727.2	731.2	714.2	719.5
2026-03-13	715.2	717.0	704.8	709.8

Source: NSE

Figure: Recent performance

Source: NSE

The NIFTY REALTY declined 4.34% in the week ended 13 March 2026, extending its recent losing streak and reflecting continued weakness across real estate stocks. Major contributors to the decline included DLF (-6.03%), GODREJPROP (-5.39%), and PRESTIGE (-5.88%), which exerted significant pressure on the index during the week. Additional declines in LODHA and PHOENIXLTD further weighed on the benchmark, while losses in RAYMOND (-7.68%) and OBEROIRLTY (-1.53%) added to the downside momentum. All 10 constituents of the index ended the week lower.