March 6: Indian Stock Market Declines | Sensex Falls 1.37%, Nifty Slips Below 24,500

Mumbai, Mar 07, 2026: Benchmark equity indices declined on 6th March, reversing the previous session’s brief recovery, as persistent geopolitical tensions in West Asia, rising crude oil prices, and continued foreign fund outflows weighed on sentiment. Weak cues from US equities and a subdued trend across Asian markets further dampened investor confidence. Volatility index climbed more than 11 percent to 20 mark, signalling heightened uncertainty among investors. At close Sensex fell 1.37% to 78,918.9, while Nifty 50 declined 1.27% to 24,450.45.

Among broader markets, the Nifty Midcap index declined 0.7%, while the Small-cap index slipped 0.2%. Sectoral Indices ended on a mixed note. Auto, Realty, PSU Bank, and Private Bank indices declined 1–2%. On the other hand, the Defence index surged nearly 3%, while the Capital Goods index advanced 1.3% and the Power index gained 0.4%

Nifty Outlook

Nifty has formed a bearish candle with a lower high and a lower low signaling lack of follow through to previous session pullback and continuation of the overall corrective trend.

Volatility is likely to remain elevated amid uncertain global cues and escalating geo-political tension. Index holding above last week low of around 24,300 will led to consolidation in the range of 24,300-25,100 in the coming week

A weakness below last week low (24,305) can led to extension of the decline towards the major support area of 24,000-23,800 being confluence of the 100 weeks EMA which has historically acted as key support and trendline joining the major lows of CY23 and CY25. Do You Think Nifty will hold 24,300 support?

Bank Nifty Outlook

Index formed a sizable bearish candle with a lower high and lower low signaling continuation of the corrective trend. Index in the process closed below last month low highlighting downward bias. Volatility is likely to remain elevated amid uncertain global cues and escalating geo-political tension. 

Index sustaining below 58,000 levels will open further downside towards 57,000-56,600 levels in the coming weeks being the confluence of the 52 weeks EMA and the key retracement of the previous up move. On the higher side 59,000 is likely to act as immediate resistance sustaining below the same will keep the bias down.

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Courtesy: Bajaj Broking