Sensex Prediction For Tomorrow, March 24: The BSE Sensex witnessed a sharp bearish session, declining significantly by over 1,800 points, reflecting intense selling pressure across the market. The index remained under pressure throughout the day and closed near the 72,700 levels, marking one of the steepest single-day declines in recent sessions.

The 30-share BSE Sensex dived 1,836.57 points, or 2.46 per cent, to settle at 72,696.39. During the day, it plunged 1,974.52 points, or 2.64 per cent, to 72,558.44.

The sharp fall was primarily driven by weak global cues, escalating geopolitical tensions in the Middle East, and a surge in crude oil prices, which dampened investor sentiment.

Additionally, continued FII selling and weakness in the Indian rupee further added to the negative momentum.

Sectorally, the decline was broad-based, with heavy selling seen across banking, financials, IT, and auto stocks. Index heavyweights such as private banks and large-cap leaders  dragged the market lower.

No major sector managed to stay resilient, indicating widespread risk-off sentiment across the board.

The broader markets also mirrored the weakness, with midcap and small-cap indices falling sharply (around 3–4 per cent), underperforming the benchmark and highlighting panic selling and reduced risk appetite among investors.

From a technical perspective, Aakash Shah, technical research analyst at Choice Equity Broking, said that Sensex has broken below the crucial 74,000–73,500 support zone, indicating a shift towards short-term bearish momentum.

"Sensex has immediate support placed near the 72,000–72,200 zone, which may act as a demand area in the near term.  On the upside, resistance is seen around the 73,000–73,200 range, and any pullback towards this zone may face selling pressure unless a strong recovery is observed," the analyst said.

Overall, the market sentiment has turned cautious to negative in the near term, and volatility is expected to remain elevated in upcoming sessions, the analyst added.