Stock markets go into tailspin; Sensex, Nifty drop over 1%

Stock market benchmark indices Sensex and Nifty faced heavy selling pressure on Tuesday (June 23, 2026), dropping over 1%, tracking a bearish trend in global markets along with weakness in HDFC Bank and IT firms.

Fresh foreign fund outflows also led to the weak trading in equities. The 30-share BSE Sensex tanked 893.39 points, or 1.16%, to settle at 76,200.68. During the day, it plunged 1,011.56 points, or 1.31%, to 76,082.51.

The 50-share NSE Nifty dropped 278.80 points, or 1.16%, to end at 23,824.10. Last week, the benchmark indices rallied in four trading sessions out of five. In the previous trading session also, the benchmarks registered gains.

From the 30-Sensex firms, Infosys and Tata Consultancy Services declined over 3% each. Bharat Electronics, Tata Steel, Adani Ports, Eternal, HCL Tech, and State Bank of India were also among the laggrads.

Power Grid, Axis Bank, Sun Pharma, and Maruti Suzuki were the winners. Foreign Institutional Investors (FIIs) offloaded equities worth ₹635.91 crore on Monday (June 22), according to exchange data.

In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225 index, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng index ended sharply lower. The Kospi tanked 10%.

European markets were trading in negative territory. “Indian equity markets snapped their recent oil-driven rally and declined sharply alongside global peers as a broad technology-led selloff weighed on sentiment.

“Losses were led by the IT sector, which declined more than 2%, while a weaker rupee and growing expectations of further U.S. monetary tightening added to investor caution and weighed on overall sentiment,” Ponmudi R., CEO of Enrich Money, an online trading and wealth tech firm, said.

Brent crude, the global oil benchmark, declined 0.67% to $77.46 per barrel. On Monday (June 23), the Sensex climbed 291.17 points, or 0.38%, to settle at 77,094.07. The Nifty surged 89.80 points, or 0.37%, to end at 24,102.90.