Sensex Sheds 893 Points, Nifty Slips Below 23,850 as Global Sell-off Drags Markets Lower

Mumbai | June 24, 2026 

The benchmark equity indices Sensex and Nifty declined sharply on Tuesday after a subdued start to trade, weighed down by weak trends across Asian markets. The Sensex settled 893.39 points, or 1.16 per cent, lower at 76,200.68, while the Nifty declined 278.80 points, or 1.16 per cent, to close at 23,824.10. 

In early trade, the Sensex had touched a high of 77,194.83, up 100.76 points or 0.13 per cent, while the Nifty advanced to an intraday high of 24,135.50, up 32.6 points or 0.13 per cent, before reversing course through the session. All Nifty sectoral indices traded in the red except pharma and realty. The broader Nifty Smallcap 100 and Nifty Midcap 100 indices fell 0.6 per cent and 0.75 per cent, respectively. 

Profit Booking Set the Stage 

The retreat followed a strong run. The Nifty and Sensex had gained 4.1 per cent and 4.4 per cent, respectively, over the past seven sessions, supported by lower oil prices and a moderation in foreign outflows. On Monday, the Sensex had risen 291.17 points, or 0.38 per cent, to settle at 77,094.07, while the Nifty advanced 89.80 points, or 0.37 per cent, to close at 24,102.90. Tuesday’s fall came with the cushion of that rally now largely given back, and coincided with the weekly Nifty derivatives expiry, a session that typically sees heightened activity as traders square off, roll over or adjust positions. 

India VIX, the volatility index, rose more than 9 per cent to the 14 level, indicating increased market uncertainty as the session progressed. 

Asian Markets Set the Tone 

South Korea’s stock exchange triggered a circuit breaker after the KOSPI plunged 8 per cent, halting trade for 20 minutes as investors booked profits following a record rally driven by semiconductor stocks and foreign inflows. SK Hynix fell more than 10 per cent intraday, while Samsung Electronics declined 7.5 per cent. After trading resumed, the KOSPI extended its losses and dropped more than 9 per cent. 

The weakness spread further. Japan’s Nikkei 225 declined 3.22 per cent, Shanghai’s SSE Composite fell up to 2 per cent, and Hong Kong’s Hang Seng traded 2 per cent lower. US futures also pointed to a weak opening later in the day, with Nasdaq futures down up to 2 per cent and futures linked to the S&P 500 and Dow Jones down up to 1 per cent. 

Outflows and the Rupee Added Pressure 

Foreign Institutional Investors sold equities worth Rs 635.91 crore on Monday, weighing on sentiment going into Tuesday’s session. The rupee weakened by 6 paise to 94.69 against the US dollar as the greenback strengthened further. At the interbank foreign exchange market, the rupee opened at 94.73 before recovering marginally to 94.69, still down 6 paise from its previous close. 

IT and Metal Stocks Led the Sectoral Fall 

The Nifty IT index fell up to 2 per cent on soft demand signals for the sector following a weak outlook from Accenture Plc. Infosys and TCS declined up to 3 per cent. The Nifty Metal index dropped up to 3 per cent, tracking a fall in global metal prices after the previous session’s gains on hopes of a US-Iran peace deal, with sentiment also affected by rising expectations of a possible US rate hike this year. 

Technical Outlook  

The Nifty closed near its 50EMA at the 23,800 level after a big red candle on the daily chart, with resistance positioned near the 24,150-24,200 zone. The Sensex closed near its 50EMA zone at 76,200 after a bearish candle. BankNifty closed near its 200-period moving average at 57,100, while Bankex failed to clear resistance at 65,400. 

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