Indian equity indices extended their losses for the second consecutive session on March 12 amid escalating geopolitical tensions that pushed crude oil prices above USD 100 per barrel. Weak global cues, rupee depreciation, and continued foreign institutional investor (FII) selling further weighed on investor sentiment.

After opening weak below 23,700, the Nifty extended its losses during the session to hit an intraday low of 23,556.30. The index later saw some recovery and hovered around the 23,700 level but amid final hour selling index closed near day's low.

At close, the Sensex was down 829.29 points or 1.08 percent at 76,034.42, and the Nifty was down 227.70 points or 0.95 percent at 23,639.15.

Broader indices fared better than the benchmarks, with the Nifty Midcap and Smallcap indices declining 0.4% and 0.7%, respectively.

The Indian rupee depreciated for the second consecutive session to hit a fresh record low of 92.36 against the US dollar. It settled at 92.19, down 16 paise from the previous close.

The market capitalisation of BSE-listed companies declined by Rs 1.77 lakh crore to around Rs 440 lakh crore in today’s session.

Biggest Nifty losers were Eicher Motors, M&M, Maruti Suzuki, Bajaj Finance, UltraTech Cement, while gainers included Coal India, Jio Financial, Adani Enterprises, NTPC, Power Grid Corp.

Among sectors, Auto index slipped more than 3%, FMCG index shed 1.7% and Private Bank index declined 1.6%, while Power index gained 2.5%, Energy index rose 2%, Oil & Gas, Metal, Capital Goods rose 0.5% each.

In stock specific, Omnitech Engineering share price rose 5.6% on bagging five-year contract worth Rs 920 crore, VA Tech Wabag shares gained 1.5% on winning order from Chennai Metropolitan Water Supply & Sewerage Board, KEC International share price rose 2.7% on winning new orders worth Rs 1,476 crore, Vascon Engineers shares added 1.7% on getting work order worth Rs 115.9 crore.

Enviro Infra Engineers share price advanced 5% on project win of Rs 411 crore, Borosil shares fell 6.5% after production impacted as LPG supply curbs hit operations amid Middle East conflict, Aarti Industries shares surged 3.5% on USD 150 mn contract win, Jagsonpal Pharmaceuticals shares rose 6% on share buyback approval.

More than 360 stocks touched their 52-week low, including Hexaware Technologies, Jubilant Foodworks, Five-Star Business, C E Info Systems, Varun Beverages, Jyothy Labs, Tata Motors Passenger Vehicles, ITC Hotels, Lemon Tree, Trent, KPIT Technologies, Jyoti CNC Auto, Swiggy, Colgate Palmolive, Cera Sanitary, Aegis Logistics, IRCTC, among others.