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What happened in the Indian stock market today?

Stock Market News Today (19-Mar-2024)

On March 19, 2024, Indian benchmark indices closed notably lower, with the Sensex shedding over 1%, opening at 72,462.94 and closing at 72,012.05, down by 736.37 points. 

The Nifty 50 also opened lower at 21,946.45, ranging between 21,978.30 and 21,793.10, and closed at 21,817.45, down 238.25 points. 

The BSE MidCap index closed 1.36% lower, while the BSE SmallCap index ended down 1.04%. The market’s decline came ahead of the key interest rate announcement by the US Federal Reserve, amplifying concerns among investors.

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Impact on the stock market

At the close, all sector indices were red, with IT, Pharma, and FMCG leading losses. Media followed, down 2.45%. Healthcare dipped 1.86%, while Oil & Gas declined 1.69%. The Bank index ended 0.41% lower, Auto fell 0.45%, and Realty dropped 0.58%.

Information Technology-2.90%
Oil & Gas-1.69%
PSU Banks-1.56%

Top gainers today

CompanyPriceChange (%)
Bajaj Finance6,596.25+1.41%
Bajaj Auto8,640.20+1.39%
Kotak Mahindra1,749.65+0.68%
Eicher Motors3,716.85+0.46%

Top losers today

CompanyPriceChange (%)
TATA Cons. Prod1,146.25-3.43%

Market aftermath: Impact on stocks

TCS stock drops 2%

Tata Consultancy Services (TCS) saw a 2% decline in its stock on March 19, with 2.02 crore shares traded at an average price of ₹ 4,043 each. Likely, Tata Sons, offering 2.34 crore shares, contributed to this. 

TCS shares were trading at ₹ 4,030.65, down by nearly 3% on the NSE. Promoters held a 72.41% stake, valued at ₹ 15 lakh crore, with Tata Sons owning 72.38% as of December 31, 2023.

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Sonata software’s stock rises 3%

Sonata Software’s shares surged over 3% after the company announced a partnership with Zones to enhance cost efficiency and data optimisation. The five-year agreement focuses on joint offerings and industry-specific solutions. 

Sonata’s stock opened at ₹ 749.50, marking a 0.71% increase on the BSE. This move aligns with Sonata’s recent expansion plans, including establishing a delivery centre in Kraków, Poland, to meet growing demands for business transformation and modernisation initiatives.

Paytm surges nearly 5%

One 97 Communications, Paytm’s parent company, saw its stock rise almost 5% on March 19, extending previous gains. NPCI’s approval to operate as a third-party UPI app provider boosted investor sentiment. 

Despite a 14% one-month rally, Paytm’s year-to-date performance shows a 36% decline. Analysts caution that discontinuing the wallets business may impact revenues, while stalled loan distribution adds growth concerns. 

Also Read: Home appliances sector in India

Crude oil futures declined

Crude oil futures dipped on Tuesday morning despite a tight supply outlook from key producers like Iraq, Saudi Arabia, and Russia. However, a Reuters report indicated Russia’s plan to boost oil exports in March. 

At 9:52 am, May Brent oil futures stood at $86.73, down by 0.18%, while May WTI crude oil futures were at $82.03, down by 0.16%.


In today’s stock market update for March 19, 2024, Indian indices closed notably lower amidst anticipation of the US Federal Reserve’s interest rate announcement. 

TCS witnessed a decline, while Sonata Software and Paytm showed positive movements on partnership announcements and regulatory approvals, respectively. Crude oil futures dipped despite supply concerns. 

Stay tuned on StockGro for further market updates and insights.

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Hunny Meghani

A curious mind, a love for writing, and a passion for all things finance - that's me in a nutshell. Whether I'm exploring the latest stock market trends or diving into the nitty-gritty of personal finance, marketing, and AI. I'm always on the hunt for the next big story.

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