Home » Market Spotlight » What happened in the Indian stock market today?

What happened in the Indian stock market today?

On March 5, 2023, the Nifty 50 and Sensex, after four consecutive days of gains, saw a downturn amid global weakness.

share market news today

Nifty 50 closed 0.22% lower at 22,356.30, while Sensex ended down 0.26% at 73,677.13. Investors reacted to elevated valuations and a lack of fresh triggers, prompting selling across key stocks. 

China’s growth target of 5% for 2024 and the absence of indications for an early US Federal Reserve rate cut further dampened market sentiment. These factors contributed to a cautious approach among investors, reflecting a decline in risk appetite.

You may also like : India’s GDP growth surges to 8.4% in Q3: Key takeaways

Impact on the stock market

Most sectoral indices recorded losses, with Nifty IT, Media, and FMCG declining notably by 1.59%, 1.37%, and 1.05%, respectively. However, Nifty PSU Bank surged by 2.56%, and Nifty Auto rose by 1.35%. 

Although Nifty Bank closed with a modest gain of 0.26%, the Nifty Private Bank index saw a slight decline of 0.20%.

Information Technology-1.59%
Oil & Gas+0.52%
PSU Banks+2.56%

Top gainers today

CompanyPriceChange (%age)
Tata Motors1,021.90+3.51%
Bharti Airtel1,168.90+3.12%
Bajaj Auto8,351.75+1.76%

Top losers today

CompanyPriceChange (%age)
Bajaj Finserv1,550.50-4.25%
Bajaj Finance6,324.25-4.21%
SBI Life Insurance1,491.25-1.76%

Market aftermath: Impact on stocks

Infibeam avenues surge 8%

Infibeam Avenues Share  surged 8% as RBI granted final authorisation for its payment aggregator license. The stock soared 145% in six months, trading at ₹ 36.95 on the NSE. It crossed 50 lakh merchant onboarding in H1FY24 and obtained approval to operate under a Bharat Bill Pay license. 

The company also acquired a 20% stake in XDuce Corporation and established a wholly-owned subsidiary in IFSC, GIFT CITY. Additionally, it divested 85,000 equity shares in Fable Fintech Private Limited.

Also Read: SGX Nifty to GIFT Nifty brings new opportunities

Paytm shares drop 3%

Paytm’s parent company, One 97 Communications Ltd, witnessed a 3% decline in its shares as 58.2 lakh shares, worth ₹ 241 crore, changed hands, constituting 0.92% equity. The stock traded at ₹ 406.27 on the NSE. 

Over the past month, Paytm’s shares dropped by over 7% amid controversies surrounding its banking arm. Following RBI restrictions, its UPI market share fell to 11% in February. Founder Vijay Shekhar Sharma resigned from the bank’s board on February 26.

Exicom Tele-Systems shares surge 58% on debut

Exicom Tele-Systems witnessed a strong debut on March 5, with its shares surging 58% from the issue price of Rs 142. Despite opening at Rs 265, slightly lower than analysts’ expectations, the stock reached an intraday high of Rs 274.50.

However, profit booking ensued, leading to a closing price of Rs 224.95 on the NSE and Rs 225.65 on the BSE. The company raised Rs 429 crore through its IPO, subscribed 129.54 times, with a price band of Rs 135-142 per share. Exicom commands a 60% and 25% market share in residential and public EV charging segments, respectively.

Also Read: Exicom Tele-Systems IPO: Things you need to know before subscribing 

Crude oil futures dip

Crude oil futures declined on Tuesday morning as China’s underwhelming GDP growth target impacted market sentiment. At 9:10 am, May Brent oil futures were down 0.16% to $82.67, while April WTI crude oil futures dropped 0.32% to $78.49. 

March crude oil futures on MCX traded at ₹6511, a 0.25% decrease, and April futures traded at ₹6500, down 0.18% from the previous close.


In today’s market, the Nifty 50 and Sensex experienced a slight downturn after four consecutive days of gains, influenced by global weakness and investor caution. 

Despite this, Infibeam Avenues surged 8% following regulatory approvals, while Paytm witnessed a 3% decline amid ongoing controversies. 

Stay turned on StockGro for more market insights and updates.

Enjoyed reading this? Share it with your friends.

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.

Post navigation

Leave a Comment

Leave a Reply

Your email address will not be published. Required fields are marked *