Stock Market Updates, March 11: After gaining 32 points in morning trading today, the Sensex has now lost more than 1,000 points again. The Nifty is also seeing a significant decline.

Share Market Updates: The Indian stock market is once again witnessing a significant decline. The Sensex has lost its initial gains and is now down more than 1,000 points. It is currently trading between 77,100 and 77,200. Meanwhile, the Nifty has also fallen more than 300 points, falling below the crucial level of 23,900. Investors are worried about the energy crisis and the implementation of the Essential Commodities Act. Furthermore, selling by foreign investors is also adding to the pressure.

Top gainers and losers

Shares of Wipro, Tata Steel, Power Grid, Hindalco, and Tech Mahindra are all gaining during the day's trading. Meanwhile, banking stocks like Kotak Mahindra Bank, ICICI Bank, HDFC Bank, Axis Bank, and Bajaj Finserv are under pressure. In addition, auto stocks like Mahindra & Mahindra and TVS Motors are also seeing selling pressure. Reliance Industries and Bharti Airtel are also among the top losers.

Asian markets

Asian markets rose on Wednesday, supported by a drop in crude oil prices. Japan's Nikkei 225 jumped 1.36 percent, while the Topix gained 1.22 percent. South Korea's Kospi gained 2.52 percent, while the small-cap Kosdaq rose 1.39 percent. Meanwhile, Hong Kong's Hang Seng Index futures traded at 25,936, compared to its previous close of 25,959.9.

Trading on Wall Street

The US stock market, Wall Street, closed in the red on Tuesday. Investors focused on falling oil prices and the war situation in Iran. The S&P 500 fell 0.21 percent to close at 6781.48. Similarly, the Dow Jones Industrial Average fell 34.29 points, or 0.07 percent, to close at 47706.51. However, the Nasdaq Composite rose 0.01 percent to close at 22697.10.

Crude prices fell

Crude oil prices rebounded from their lows on Wednesday morning. WTI crude prices fell 0.03% to trade at $83.43 after US President Donald Trump hinted at an end to the war with Iran, while Brent crude fell from the previous session's high of $119.50 per barrel and is now trading in the $87-$90 per barrel range.  

According to a report in The Wall Street Journal, the International Energy Agency (IEA) has proposed the largest release of its Emergency Oil Reserve in history, amounting to more than 182 million barrels of oil, to help ease the surge in crude oil prices that have been fueled by the war with Iran.