After opening the day lower, the benchmark indices continued their downward momentum and ended the session deep in the red.
The Indian benchmark indices resumed their declining streak after a one-day break as oil prices surged in the international markets after the US-Iran war intensified.
At the closing bell, the BSE Sensex closed lower by 1,342 points (down 1.7%).
Meanwhile, the NSE Nifty closed 394 points lower (down 1.6%)
Sun Pharma, Coal India and NTPC are among the top gainers today
Axis Bank, Eicher Motors and M&M, on the other hand, were among the top losers today.
The GIFT Nifty was trading at 23,907, lower by 458 points at the time of writing.
The Nifty MidCap 100 index ended 1.2% lower and the Nifty SmallCap 100 index ended 0.% lower.
Sectoral indices are trading mixed today with stocks in the realty sector, banking sector and IT sector witnessing selling pressure. Meanwhile, stocks in the oil & gas sector, energy sector and pharma sector ended on a positive note.
The rupee is trading at Rs 92.05 against the US$.
Gold prices for the latest contract on MCX are trading 0.6% lower at Rs 162,331 per 10 grams.
Meanwhile, silver prices were trading 2.5% higher at Rs 271,000 per 1 kg.
Here are three reasons why Indian share markets are falling:
#1 US-Iran war
Despite the US President Donald Trump signalling that the war in the Middle East, investors continued to take a cautious stance amid uncertainty and volatile global crude oil prices.
#2 FPI Selling
On Tuesday, foreign portfolio investors (FPIs) were net sellers of Indian equities amid continuous uncertainty. The FPIs pulled out Rs 46.7 billion (bn) worth of Indian equities.
#3 Selling in Heavyweights
Market breadth was negative, as only 15 stocks advanced and 35 declined from the frontline Nifty 50 index. The top laggards included heavyweights like Axis Bank, M&M, and Bajaj Finance, down more than 3%.
Why Waaree Renewable Shares Gained 4% Intraday?
In the news, Waaree Renewable Technologies' share price gained 4% in the opening trade on 11 March after the company signed a contract for the execution of engineering, procurement and construction (EPC) works of the ground mount solar PV plant of 300MWac/420MWp.
The project is scheduled to be completed during the financial year 2027-28.
In the month of January, the company signed a contract for the execution of EPC works of a Ground Mount Solar PV Plant in Uttar Pradesh of 10MWac/14MWp on a turnkey basis worth Rs 37.96 crore.
However, the shares of the company have been on a downward trend in the past 6 months.
Why HG Infra Shares Jumped 8% Today?
Moving on to the news from the engineering sector, HG Infra Engineering's share price rose 8% in the opening trade on Wednesday following an order win worth Rs 4 bn from Anuppur Thermal Energy.
HG Infra Engineering has received an order from Anuppur Thermal Energy (MP) in the state of Madhya Pradesh for the execution of civil (earthwork, bridges, and Station buildings), and P-way works for the development of the 2x800 MW Thermal Power Project at Anuppur, Madhya Pradesh.
The completion period for the said project is 18 months.
In the month of February, the company received a Letter of Award (LOA) from the National Highways Authority of India (NHAI) of Rs 18.3 bn.
Nifty Pharma Index Hits 52-Week High
Moving on, shares of pharmaceutical companies were trading firm with the Nifty Pharma index hitting a 52-week high at 23,540.90, gaining 1% an otherwise weak market.
The pharma index surpassed its previous high of 23,492.55 touched on 7 January 2026.
Ipca Laboratories, Aurobindo Pharma, Glenmark Pharmaceuticals, Ajanta Pharma, Biocon, Lupin, Laurus Labs, Sun Pharma Industries, Dr Reddy's Laboratories and Divis Labs were up in the range of 1% to 4%.
According to media reports, medicine prices in India may increase as the cost of key raw materials or active pharmaceutical ingredients (APIs) surged by nearly 30% in recent weeks.
Vessel shortages linked to disruptions in shipping routes from Iran have slowed the movement of raw materials from China, the largest supplier. Industry experts have urged the National Pharmaceutical Pricing Authority to allow price hikes beyond limits under the Drugs Price Control Order 2013 to offset rising costs.
As per reports, India's exports of APIs reached about Rs 415 bn in FY25, surpassing imports ofRs 392.2 bn.
The government has taken several steps over the past 11 years to strengthen domestic production
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