The Indian benchmark indices extended their decline for the second consecutive session on March 30, with the Nifty 50 closing below the 22,350 mark amid broad-based selling, led by banking stocks after the Reserve Bank of India tightened limits on banks’ dollar positions.

The market began the week and last session of FY26 on a negative note, as the Nifty 50 opened below the 22,600 level, weighed down by weak global cues, rising crude oil prices, and escalating geopolitical tensions. However, with extended selling it touched intraday low of 22,283.85, settling near day's low.

At close, the Sensex was down 1,635.67 points or 2.22 percent at 71,947.55, and the Nifty was down 488.20 points or 2.14 percent at 22,331.40. The Nifty 50 index declined more than 11 percent in March, marking its biggest monthly loss since March 2020.

Broader markets also witnessed sharp declines, with the Nifty Midcap and Smallcap indices shedding around 2.6 percent each.

The market will remain shut on March 31 (Tuesday) on account of Shri Mahavir Jayanti.

The market capitalisation of BSE-listed companies declined Rs 9.55 lakh crore to Rs 412.59 lakh crore against Friday's Rs 422.15 lakh crore.

The Indian rupee failed to hold on the opening gains of 134 paise and crossed the 95 mark for the first time, hitting a record low of 95.12. It eventually ended nearly flat at 94.83 per dollar against Friday’s close of 94.81.

Among the Nifty constituents, major losers included Bajaj Finance, Axis Bank, Bajaj Finserv, State Bank of India, and InterGlobe Aviation. On the other hand, gainers were Hindalco Industries, Coal India, ONGC, and Power Grid Corporation of India.

All the sectors ended in the red with auto, FMCG, consumer durables, capital goods, telecom, realty, private bank, PSU bank down 2-4%.

1500 stocks touched their 52-week low on the BSE, including Embassy Developments, Kirloskar Brothers, Jubilant Foodworks, Aegis Vopak Terminals, Kotak Mahindra Bank, Aditya Birla Lifestyle Brands, Newgen Software, Titagarh Rail Systems, CE Info Systems, Central Bank of India, EIH, Deepak Nitrite, Amara Raja, AAVAS Financiers, Mastek, Sterling Wilson, Cochin Shipyard, Blue Jet, ICICI Prudential, UCO Bank, among others.

In stock-specific, Avantel share price rose 2% on winning order of Rs 137 crore, KNR Constructions share price added 2% on bagging project of Rs 1,734 crore, Jubilant Foodworks shares slipped 4% as operations constrained due to LPG shortage, Aarti Pharmalabs shares fell 1.3% post USFDA observation for Maharashtra facility, Texmaco Rail share price slipped 5% despite order win worth Rs 22.91 crore.