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Informist, Tuesday, Jun. 23, 2026

 

By Arya S. Biju

 

MUMBAI – Benchmark equity indices closed sharply lower, led by a sharp decline in information technology and metal stocks. After opening lower, both the indices edged higher but failed to maintain the gains as investors booked profit at higher levels, according to analysts. While easing geopolitical tensions amid progress in US-Iran peace negotiations and lower crude oil prices improved prospects for economic growth and recovery in corporate earnings in the second half of the current fiscal year, concern over the delayed southwest monsoon continues to be a key concern in the near term, analysts said.

 

The Nifty 50 closed at 23824.10, down 278.80 points or 1.2%. The BSE Sensex settled at 76200.68, down 893.39 points or 1.2%. "Benchmark Nifty (50) index is trading in a congestion range of 400 points i.e. 23800-24200 spot levels," Vipin Kumar, technical and derivatives analyst at Globe Capital Market, told Informist. "Indices witnessed profit taking from the upper band of the range. An either side break from the aforementioned range will start the next short term move in that direction."

The fall in the 50-stock index was led by IT stocks that were down tracking weakness across global technology stocks. This decline followed an overnight slump in the NASDAQ index, with sector giants such as SpaceX and Alphabet falling sharply. At 1555 IST, the September futures contract of NASDAQ-100 was 2.6% lower. Most Asian indices also closed lower Tuesday amid continued sell-off in IT stocks, with South Korea's KOSPI falling nearly 10%. 

 

"The selloff (in IT stocks) is being interpreted as a sign of growing caution around AI and technology-related stocks. Investors appear to be reassessing valuations after a strong run-up, leading to profit booking across the sector," Tej Shah, research analyst at Motilal Oswal Financial Services, wrote in a social media post. For Indian markets, the impact is largely sentiment-driven. While domestic fundamentals remain intact, periods of global risk aversion often result in pressure on technology stocks and broader emerging market flows, he added. 

 

All broader market indices ended in the red, with Nifty small cap indices down 0.4-0.6% and Nifty mid-cap indices down around 1?ch. "Market sentiment weakened as early gains proved unsustainable amid negative global cues and prevailing caution. Profit booking after the recent rally further intensified downside pressure, resulting in broad-based weakness across key sectors," Vinod Nair, head of research at Geojit Investments, said in a note. While stable crude prices and easing geopolitical tensions offered some support, investors maintained a cautious stance, focusing on the progress of the southwest monsoon and ongoing US-India trade discussions, he added. 

 

All sectoral indices, except for Nifty Pharma and Nifty Healthcare, ended lower, down 0.6-3.2%. Nifty Metal was the worst hit among sectoral indices, down over 3% at 12669.10, the lowest closing level in over two months. The Nifty IT index closed 2.2% lower at 27012.05 points, its lowest closing level since April 2023. Nifty Pharma and Nifty Healthcare were up 0.9% and 0.5%, respectively. 

 

Metal stocks plunged amid a fall in metal prices. Tuesday, the June futures of aluminium and July futures of silver fell around 3?ch. Aluminium prices declined amid rising Chinese exports and near record domestic production levels, Kotak Securities said in a report. "Aluminum (aluminium) touched a three-month low as progress in Middle East (West Asia) peace talks fuelled expectations of a return of supplies from the key metal-producing region," Nirmal Bang Institutional Equities said. Shares of aluminium companies Hindalco Industries, National Aluminium Co., and Vedanta Aluminium Metal fell 3-6%, and those of silver major Hindustan Zinc fell around 5%. 

 

Shares of Vedanta fell around 8% to an over one-month closing low of INR 281.7 after more than 67 million shares of the company were sold in a large deal on NSE at a discount of over 4% to the stock's closing price Monday. Reports said that promoter group entity Twin Star Holdings was looking to offload its shares in the company. 

 

Among gainers, most pharmaceutical companies rose after reports that the US Food and Drug Administration reached out to the Indian Drug Manufacturers' Association citing a shortage of Ifosfamide, a key drug used to treat testicular, bladder, and lung cancers. The Nifty Pharma index rallied around 1% to 24989.95 points Tuesday. The sentiment around these stocks was also supported by brokerage comments. Cipla rose over 1?ter global brokerage Citi reiterated its 'buy' call on the stock and placed it on a 90-day positive catalyst watch, according to media reports. Similarly, Dr Reddy's Laboratories rose 0.8?ter Nomura reiterated its bullish stance on the stock.

 

Shares of e-commerce major Meesho rose over 8?ter global brokerage Citi started coverage on the company with a 'buy' recommendaton and a target price of INR 210, indicating a 22% upside to the stock's closing price Monday. The brokerage said the company was poised to benefit from the next phase of growth in the domestic e-commerce market, particularly among value-conscious consumers outside major metropolitan centres, according to media reports.

 

* Of the Nifty 50 stocks, 10 rose, 40 fell

* Of the Sensex stocks, 4 rose, 26 fell 

* On the NSE, 1,020 stocks rose, 2,280 fell, and 99 were unchanged

* On the BSE, 1,496 stocks rose, 2,794 fell, and 157 were unchanged
* Nifty Metal: down 3.2%; Nifty IT: down 2.2%; Nifty Pharma: up 0.9%

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BSE                                             NSE

Sensex: 76200.68, down 893.39 points, or 1.2%     Nifty 50: 23824.10, up 278.80 points, or 1.16%

 

S&P BSE Sensitive Index	Nifty 50
Lifetime High: 86159.02 (Dec. 1, 2025)	: Lifetime High: 26373.20 (Jan. 5, 2026)
Record Close High: 85836.12 (Sept. 26, 2024)	: Record Close High: 26328.55 (Jan. 2, 2026)
2026 1st day close: 85188.60 (Jan. 1)	: 2026 1st day close: 26146.55 (Jan. 1)
2026 Closing High: 85762.01 (Jan. 2)	: 2026 Closing High: 26328.55 (Jan. 2)
2026 Closing Low: 71947.55 (Mar. 30)	: 2026 Closing Low: 22331.40 (Mar. 30)
2026 High (intraday): 85883.50 (Jan. 5)	: 2026 High (intraday): 26373.20 (Jan. 5)
2026 Low (intraday): 71545.81 (Apr. 1)	: 2026 Low (intraday): 22182.55 (Apr.2)
2025 1st day close: 78507.41 (Jan. 1)	: 2025 1st day close: 23742.90 (Jan. 1)
2025 Closing High: 85720.38 (Nov. 27)	: 2025 Closing High: 26215.55 (Nov. 27)
2025 Closing Low: 72989.93 (Mar. 4)	: 2025 Closing Low: 22082.65 (Mar. 4)
2025 High (intraday): 86159.02 (Dec. 1)	: 2025 High (intraday): 26325.80 (Dec.1)
2025 Low (intraday): 71425.01 (Apr. 7)	: 2025 Low (intraday): 21743.65 (Apr. 7)
2024 1st day close: 72271.94 (Jan. 1)	: 2024 1st day close: 21741.90 (Jan. 1)
2024 Closing High: 85836.12 (Sept. 26)	: 2024 Closing High: 26216.05 (Sept. 26)
2024 Closing Low: 70370.55 (Jan. 23)	: 2024 Closing Low: 21238.80 (Jan. 23)
2024 High (intraday): 85978.25 (Sep. 27)	: 2024 High (intraday): 26277.35 (Sept. 27)
2024 Low (intraday): 70001.60 (Jan. 24)	: 2024 Low (intraday): 21137.20 (Jan. 24)
2023 1st day close: 61167.79 (Jan. 2)	: 2023 1st day close: 18197.45 (Jan. 2)
2023 Closing High: 72410.38 (Dec. 28)	: 2023 Closing High: 21778.70 (Dec. 28)
2023 Closing Low: 59288.35 (Feb. 27)	: 2023 Closing Low: 17311.80 (Oct. 17)
2023 High (intraday): 72484.34 (Dec. 28)	: 2023 High (intraday): 21801.45 (Dec. 28)
2023 Low (intraday): 58699.20 (Jan. 30)	: 2023 Low (intraday): 17098.55 (Jan. 17)
2022 1st day close: 59183.22 (Jan. 3)	: 2022 1st day close: 17625.70 (Jan. 3)
2022 Closing High: 63284.19 (Dec. 1)	: 2022 Closing High: 18812.50 (Dec. 1)
2022 Closing Low: 51360.42 (Jun. 17)	: 2022 Closing Low: 15293.50 (Jun. 17)
2022 High (intraday): 63583.07 (Dec. 1)	: 2022 High (intraday): 18887.60 (Dec. 1)
2022 Low (intraday): 50921.22 (Jun. 17)	: 2022 Low (intraday): 15183.40 (Jun. 17)
2021 Closing High: 61305.95 (Oct. 14)	: 2021 Closing High: 18338.55 (Oct. 14)
2021 Closing Low: 46285.77 (Jan. 29)	: 2021 Closing Low: 13634.60 (Jan. 29)
2021 High (intraday): 61353.25 (Oct. 14)	: 2021 High (intraday): 18350.75 (Oct. 14)
2021 Low (intraday): 46160.46 (Jan. 29)	: 2021 Low (intraday): 13596.75 (Jan. 29)
2020 Closing High: 47751.33 (Dec. 31)	: 2020 Closing High: 13981.95 (Dec. 30)
2020 Closing Low: 25981.24 (Mar. 23)	: 2020 Closing Low: 7610.25 (Mar. 23)
2020 High (intraday): 47896.97 (Dec. 31)	: 2020 High (intraday): 14024.85 (Dec. 31)
2020 Low (intraday): 25638.90 (Mar. 24)	: 2020 Low (intraday): 7511.10 (Mar. 24)
2019 High (intraday): 41809.96 (Dec. 20)	: 2019 High (intraday): 12293.90 (Dec. 20)
2019 Low (intraday): 35287.16 (Feb. 19)	: 2019 Low (intraday): 10583.65 (Jan. 29)
2018 High (intraday): 38938.91(Aug. 28))	: 2018 High(intraday): 11760.20 (Aug. 28)
2018 Low (intraday): 32483.8 (Mar. 23)	: 2018 Low (intraday): 9951.9 (Mar. 23)
2017 High (intraday): 34005.37 (Dec. 26)	: 2017 High(intraday): 10515.10 (Dec. 26)

 

End

 

US$1 = INR 94.7350

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Akul Nishant Akhoury

 

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