Stock Market Crash News Today Live Updates: Nifty Below 23,200, Sensex Drops Over 2,000 Points; HDFC Bank Cuts Losses After Falling 9%

DEE Development said it has started production at its seamless pipe manufacturing plant in Gujarat, according to an exchange filing.

Rajputana Stainless listed at Rs 123.95 on the BSE against the offer price of Rs 122, a premium of 1.6%.

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Indian equity benchmarks extended losses in trade. The NSE Nifty 50 fell as much as 2.5% to 23,180, while the BSE Sensex dropped 2.6%, or 2,018 points, to 74,685.
 

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• Keki Mistry's the resignation came at short notice and the letter was received yesterday evening, the lender said in a conference call.
• He said he was in Delhi yesterday.
• HDFC Bank added that board members met the RBI after receiving the resignation letter.

• HDFC Bank was a major drag on the benchmark index in early trade. The stock accounted for 150 points of the Nifty’s decline.
   

Indian equity benchmarks opened lower, ending a three-day gaining streak. The BSE Sensex fell as much as 2.6%, or 2,000 points, to 74,685, while the NSE Nifty 50 dropped as much as 1.7% to 23,378.

• Keki Mistry said no one on the board is aware of the specific issues raised by Atanu Chakraborty.
• He said the board had asked Chakraborty for details on the issues he referred to.

• HDFC Bank said its board has accepted Atanu Chakraborty’s resignation, according to comments made by Keki Mistry on the conference call.
• Keki Mistry said there were no material issues and no specific operational concerns highlighted in the resignation.
• The bank said its disclosures are in line with regulatory requirements and that governance, oversight and management remain in place.

• HDFC Bank fell 10% in the pre-market session.
• The move came after  HDFC Bank said part-time chairman Atanu Chakraborty has resigned, citing concerns over practices that were not aligned with his personal values and ethics.

 

• Rupee and bond market segments linked to bank settlement are closed today for Gudi Padwa, as banks are shut in key centres including Mumbai under the RBI holiday calendar. 
• Equity trading on the NSE and BSE will continue, but currency derivatives, NDS-RST and tri-party repo segments are closed for the day.

• Indian equity benchmarks came under pressure in pre-open trade. The Nifty fell near 23,200, while the Sensex dropped 2,000 points.
• The early moves indicated a weak start for the benchmark indices.

• HDFC Bank has a weight of 11.83% in the Nifty 50 and 19.69% in the Nifty Bank, according to the data shared.
• A 5% fall in HDFC Bank would pull the Nifty 50 down by 0.6%, or 141 points, and the Nifty Bank by 1.0%, or 545 points.
• A 10% fall in the stock would drag the Nifty 50 by 1.2%, or 281 points, and the Nifty Bank by 2.0%, or 1,089 points.

• Atanu Chakraborty’s exit followed differences with other management and board members, according to sources cited by NDTV Profit.
• Sources said the exit is not linked to any regulatory concerns.
• Sources also said there is no concern with the functioning of the bank.

• Uno Minda saw 14.1 lakh shares change hands in a block trade, according to Bloomberg data.
• The buyers and sellers were not known immediately.

• HDFC Bank will hold a conference call today at 9 am.
• The call comes after the bank disclosed the resignation of part-time chairman Atanu Chakraborty.

• QatarEnergy said several of its LNG facilities were hit by missile attacks in the early hours of March 19.
• The company said the attacks caused fires and further damage. It also said an earlier attack on March 18 had damaged the Pearl GTL facility at Ras Laffan Industrial City.
• Emergency response teams were deployed, and the company said there were no reported casualties.

• ONGC, Oil India and HOEC may be in focus after crude moved above $110 per barrel, while fertiliser, aviation, paint and oil marketing companies may also be tracked on the move in oil prices.

• Manappuram Finance will be watched after the RBI approved Bain Capital’s acquisition of joint control. GR Infraprojects emerged as the L-1 bidder for an NHAI construction project worth Rs 2,441 crore.

• Natco Pharma scheduled a board meeting on 24 March to consider the demerger of its agrochemicals division, UBL received environmental clearance for its Unnao brewery, and Vedanta will consider a third interim dividend on 23 March.

• HDFC Bank may remain in focus after part-time chairman Atanu Chakraborty resigned.

• Nazara Technologies may be tracked after brokerages turned cautious on its acquisition.

• PhysicsWallah, Delta Corp and Solara Active Pharma may also be watched on tax demand-related developments.

• Bharti Airtel converted 39.12 crore partly paid shares into fully paid shares, according to an exchange filing.
• The company received Rs 15,696 crore towards the first and final call.
• Its paid-up capital rose to Rs 3,047 crore.

• Hong Kong’s Hang Seng Index fell 1.82% to 25,552.86, down 472.56 points.
• Shanghai slipped 0.79% to 4,030.705, down 32.279 points.

• Oil prices rose further as strikes on energy infrastructure in the Middle East raised supply concerns.
• Brent crude May futures climbed 4% to $111.80.
• US West Texas Intermediate April futures rose more than 3% to $99.47.

• The Fed gave limited guidance on its next move, with the statement and projections showing only small changes and Chair Jerome Powell repeatedly flagging uncertainty.
• Powell said the war with Iran and the oil price shock have made the outlook harder to assess, while the dot plot continued to point to one cut this year and another next year.
• Powell rejected the term stagflation and said the US economy, with growth and low unemployment, is not in a situation like the 1970s.

• The Dow Jones Industrial Average fell 1.63% to 46,225.15 and closed at a new low for this year.
• The index also ended below its 200-day moving average.
• The S&P 500 dropped 1.36%, while the Nasdaq Composite declined 1.46%.

• GIFT Nifty is at 23,231 in early trade.
• This is below Wednesday’s Nifty 50 close of 23,777.
• The futures level indicates a possible gap-down start for the index.

• The US Federal Reserve kept the federal funds rate unchanged at 3.5%-3.75% after an 11-1 vote.
• The Fed said the impact of developments in the Middle East on the US economy remains uncertain.
• Policymakers also kept their outlook for one rate cut this year, while raising their 2026 inflation projection.

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• South Korea’s Kospi fell 2.87% to 5,755.08.
• Japan’s Nikkei 225 dropped 2.79% to 53,695.98.
• Australia’s ASX 200 declined 1.50% to 8,510.80.