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Indian equities closed sharply lower on Friday, with the Sensex tumbling 1,471 points and the Nifty slipping below 23,150. The selloff capped the steepest weekly fall in nearly four years as West Asia tensions unnerved investors. hereIndian equity benchmarks extended their losing streak for a third straight session on March 13, with the Nifty 50 slipping below 23,200 and the BSE Sensex tumbling 1,380 points.Among the biggest losers on the Nifty were Hindalco Industries Ltd, Larsen & Toubro Ltd, Tata Steel Ltd, UltraTech Cement Ltd and JSW Steel Ltd, while Tata Consumer Products Ltd, Hindustan Unilever Ltd and Bharti Airtel Ltd were among the gainers.Sectoral indices ended broadly lower, with auto, PSU banks, metals, media and pharma declining 3–4%, while the Nifty Midcap and Smallcap indices dropped about 2.5% each.Ashi Anand, Founder and CEO of IME Capital, said investors may be better off paying a premium for high-quality private bank franchises rather than opting for most public sector lenders.He added that while stronger PSU banks such as State Bank of India often operate with characteristics similar to private banks, the broader PSU banking space still has considerable ground to cover in terms of overall performance.

Chandan Taparia of Motilal Oswal Financial Services Ltd said the Aarti Drug‘s structure has turned weak in recent weeks with a pattern of lower highs and lower lows, but strong support remains in the ₹310–₹315 zone. He noted the stock has taken support at these levels multiple times and could recover towards ₹385–₹400 if the support holds.

On Reliance Industries Ltd, Taparia said the stock has shown resilience despite broader market pressure, repeatedly holding above ₹1,300. He sees ₹1,300–₹1,500 as the near-term trading band and suggests buying on dips in two tranches with a gradual move towards ₹1,500 possible.

(Disclosure: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)Shahina Mukadam, Independent Market Expert, said the near-term outlook for Indian Oil Corporation Ltd remains weak as crude prices near $100 per barrel and oil marketing companies may struggle to pass on higher costs. She expects pressure on margins for the next three to six months and advises investors to consider booking profits on about half their holdings.On Muthoot Finance Ltd, Mukadam said operational performance remains strong, with assets under management rising over 45% to above ₹1.6 lakh crore, largely driven by gold loans. She recommends accumulating the stock gradually rather than buying in one go.

Goldman Sachs has raised its 2026 India inflation forecast to 4.2% from 3.9%. It has also lowered its 2026 GDP growth estimate for India to 6.5% from 7%. (Bloomberg)Fitch Ratings expects India’s GDP to grow 7.5% in FY26, supported by strong domestic demand, while forecasting inflation to rise steadily to 4.5% by December, with higher oil prices posing upside risks.The agency also sees growth moderating to 6.7% in FY27 and 6.5% in FY28.

“Valuations are looking very attractive but sentiment can remain depressed for some time, so investors should avoid going all in at once,” said Gurmeet Chadha, Managing Partner and CIO at Complete Circle Wealth. “We are gradually adding banks as most private lenders are available below twice book value at around 12–13 times earnings,” Complete Circle’s Gurmeet Chadha said.

“A large part of the market is trading close to COVID-era valuations. We have added names like Mahindra & Mahindra Ltd and telecom players such as Bharti Airtel Ltd, while BFSI remains one of the most attractive pockets from a valuation perspective. If you look 12–24 months ahead, this period could offer good opportunities,” he added.

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Nifty 50 is currently down 460 points.

L&T is down 7%.

L&T, Hindalco, Tata Steel, UltraTech Cement, JSW Steel are the top Nifty losers.

Barring Tata Consumer, HUL and Bharti Airtel, the remaining stocks in the index are trading with losses.

Stocks continued to decline on Thursday (March 12) amid concerns that the ongoing West Asia crisis could slow earnings growth, which had shown some signs of improvement in the previous quarter.

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Here are a couple of stock recommendations by Ajit Mishra, SVP – Research, Religare Broking

Buy NTPC with a stop loss of ₹383 and a target of ₹401

Sell ITC with a stop loss of ₹309 and a target of ₹294

Shares of Britannia Industries Ltd. are trading higher on Friday, March 13, after the company clarified that it has not experienced any significant disruption to operations at its manufacturing facilities due to the supply of industrial gas.

Britannia said it has adequate levels of finished goods available across its supply chain network to meet market demand.

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Shares of Nifty 50 heavyweight Reliance Industries Ltd. will remain in focus on Friday, March 13. The stock has risen in four of the last six trading sessions.

Global brokerage Jefferies has maintained a ‘Buy’ rating on Reliance Industries with a price target of ₹1,750 per share, implying a potential upside of about 26% from current levels.

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The Nifty 50 index has declined over 5% this week. This has turned out to be the worst week for the markets in the last four years. The previous instance of the index declining over 5% in a week was back in June 2022.

As a result of this market meltdown, the BSE-listed companies have cumulatively lost ₹20 lakh crore in market capitalisation this week. Since the start of the war in West Asia, BSE-listed companies have lost over ₹33 lakh crore in market capitalisation.

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The stock is currently down 6.9%.

L&T’s market cap has now fallen below Rs 5 lakh crore.

Nifty 50 Continues Extending Its Losses

It is currently down 500 points.

Meanwhile, Nifty Bank has slipped 1,400 points.

Here are a couple of stock recommendations by Manish Hathiramani, Proprietary Trader & Technical Analyst, Deen Dayal Investments:

Sell IndusInd Bank with a stop loss of ₹910 and a target of ₹760

Sell Trent with a stop loss of ₹3,850 and a target of ₹3,300

Nifty Bank down over 2% or 1,300 points, making an intraday low of 53,733.65.

Nifty Metal falls over 4.5% or 550 points to hit an intraday low of

11,297.30.

Nifty 50 extends losses, falling over 500 points and hitting a new intraday low of 23,136.50.

Krystal Integrated Services Bags Order Worth ₹364 crore From Tamil Nadu Medical Services Corp

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Energy Costs Not Significantly Affecting Biz, Oil Price Swings Not Hitting Bottom Line

Mixed Impact Due To Tariffs, Continue Advocating For Low Trade Barriers

More Cos Expected To Adjust Sourcing To Boost Economic Independence

India Is Not Yet A Top Market, But Aim To Make It One By 2030

Investing In All Three Divisions In India

Consumer Health, Pharmaceuticals, Crop Science Are Capable Of Faster Growth

2026 Is A Critical Year, Final Year Before Crop Science Blockbuster Launches

Expect Strong Growth Starting 2027, Restructuring Payoff Visible From 2027

No Decision Yet On Splitting Company Into Three

Direct-seeded Rice, Phase 3 Pluripotent Stem Cell Therapy For Parkinson’s Are The New Innovations

Not Pursuing GLP Drugs, Existing Solutions Already Widely Available

Urban Company shares were down 3% on Friday, snapping their four-day gaining streak. The decline has pushed it closer to its IPO price.

Brokerage Kotak Institutional Equities has maintained its ‘add’ rating and has a target price of Rs 135 per share, an upside potential of 21% from its previous close.

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Here are a couple of stock recommendations by Somil Mehta, Head Retail Research, Mirae Asset Sharekhan

Sell Persistent Systems with a stop loss of ₹4,700 and a target of ₹4,400

Sell UPL with a stop loss of ₹630 and a target of ₹580

Britannia Says:

Not Experienced Any Significant Disruptions To Mfg Facilities

Have Adequate Levels Of Goods To Meet Market Demand

Use Various Types Of Fuel In Mfg Facilities By Making Technical Adjustments

Nifty continues to extend its losses. It is down 400 points to its day’s low

Market at Day’s Low, Nifty Slips Below 23,300

The index is down 362 points at the moment and has slipped to the day’s low.

Barring Tata Consumer, HUL, Trent, Apollo Hospitals and Bharti Airtel, the remaining 45 stocks in the index are trading with losses.

Hindalco, L&T, Tata Steel, Tata Motors PV, Eicher Motors are the top losers.

Tata Motors CV wins pan-India orders of >5,000 buses from multiple state transport undertakings

The stock is down for the third consecutive day today.

It is down 6% at the moment.

It has declined for five out of the last six trading sessions.NewsLive TVMarketPopular CategoriesCalculatorsTrending NowLet's Connect with CNBCTV 18Network 18 Group :©TV18 Broadcast Limited. All rights reserved.