Sensex falls 1,600 points to 75,100:Nifty drops 500 points, banking and auto stocks see heavy selling

The Indian stock market witnessed a significant downturn on 19 March. The BSE Sensex was trading nearly 1,600 points lower (2.01%) at around 75,100. Meanwhile, the Nifty 50 dropped by about 500 points (2.08%), slipping below the 23,300 mark. Selling pressure was particularly evident in banking and automobile stocks. HDFC Bank shares fall after Chairman’s resignation Shares of HDFC Bank declined by around 5% following the resignation of its part-time chairman and independent director, Atanu Chakraborty, late on Wednesday night. The stock fell by approximately ₹38, trading near ₹804. In a regulatory filing, the bank confirmed Chakraborty’s resignation, noting that he had raised concerns regarding the bank’s working methods. Following his exit, Keki Mistry has been appointed as interim chairman for a period of three months starting 19 March 2026, with approval from the Reserve Bank of India. Asian markets also trade lower The weakness was mirrored across major Asian markets- US Markets closed lower on 18 March US equities also ended in the red on 18 March- Markets ended on a positive note In contrast, the previous trading session on 18 March had seen strong gains. The Sensex rose by 633 points (0.83%) to close at 76,704, while the Nifty advanced by 197 points (0.83%) to settle at 23,778. Buying interest was observed in IT and real estate stocks during that session.