Stock Market Opens Flat; Nifty Slips Below 23,150, IDBI Bank Shares Fall

Indian stock markets opened on a mixed note with Nifty initially slipping below 23,150 before hovering near 23,200. Shares of IDBI Bank dropped over 11% amid concerns related to divestment plans. Meanwhile, Bajel Projects surged more than 11% after securing a major EPC order.

Post Published By: Sona Saini

Updated : 16 March 2026, 9:31 AM IST

Market Opens Mixed as IDBI Bank Slides, Bajel Projects Surges

Mumbai: The Indian stock market opened with a slight decline on the first trading day of the week. The Sensex and Nifty witnessed fluctuations. The Nifty opened below 23,150 in early trade, but later recovered slightly, trading around 23,200. A cautious mood prevails among investors.

Slight Strength in Rupee

The rupee opened slightly stronger in the foreign exchange market on Monday. The rupee opened at 92.43 against the dollar, compared to 92.46 on Friday. Experts say global market cues and foreign investor activity play a key role in determining the rupee's direction.

IDBI Bank Shares See a Major Fall

IDBI Bank shares saw a significant decline in today's trading. The bank's stock fell by 11 to 12 percent in early trading. This decline is being attributed to growing concerns about the government's potential disinvestment plan. Investors began selling shares following this news.

Adani Total Gas Price Cut

Adani Total Gas was also in the news during Monday's trading. The company has decided to reduce the price of additional natural gas supplied to certain industrial customers. The company has reduced the price of gas from Rs. 119.90 per SCM to Rs. 82.95 per SCM. The new prices came into effect on March 16. This decision may also impact the company's shares.

Bazel Projects Shares Surge

Bazel Projects shares, on the other hand, saw a sharp rise, rising more than 11 percent in early trading. This surge is being attributed to a recent large EPC order received by the company. The new project acquisition has boosted investor confidence in the company.

Investors are keeping an eye on global cues

Experts say the market's direction in the coming days will depend on global economic cues, crude oil prices, and foreign investor activity. Currently, investors are investing cautiously and keeping an eye on the stocks of major companies.