Indian benchmark equity indices traded sharply lower on Tuesday afternoon, reversing early gains amid weak global market sentiment and broad-based selling across sectors.
As of 2:15 PM on June 23, 2026, the Nifty 50 was trading at 23,908.60, down 0.81%, while the Sensex had declined 675.04 points, or 0.88%, to 76,419.03. During the intraday session, the Sensex touched a low of 76,371.70, falling over 700 points from the previous day's closing level.
The following reasons led to the market coming under pressure today:
Global markets came under pressure after South Korea's stock exchange triggered a circuit breaker as the KOSPI index plunged more than 9%, resulting in a temporary trading halt.
The decline in South Korea was led by semiconductor stocks, with SK Hynix falling over 10% and Samsung Electronics declining 7.5%.
Other Asian markets also traded lower. Japan's Nikkei 225 fell 3.22%, while Hong Kong's Hang Seng Index and China's Shanghai Composite Index declined around 2%.
US index futures also indicated weakness, with Nasdaq futures falling up to 2%, signalling a cautious start for Wall Street.
Foreign Institutional Investors (FIIs) remained net sellers in Indian equities, offloading shares worth ₹635.91 crore on Monday.
Meanwhile, the Indian rupee weakened against the US dollar and traded at 94.69, reflecting continued strength in the greenback.
Market participants are factoring in expectations of a tighter monetary policy stance in the United States, which has supported the dollar and impacted emerging market currencies.
Selling pressure was visible across sectors, with the Nifty IT index emerging as one of the worst performers, declining 2.08%.
The weakness followed concerns around demand trends after Accenture's outlook and cautious commentary from global brokerages. Major IT stocks such as Infosys and TCS traded lower during the session.
The Nifty Metal index fell 3.39%, tracking weakness in global metal prices and concerns over higher interest rates.
In contrast, defensive sectors outperformed, with Nifty Pharma rising 1.03% and Nifty Healthcare gaining 0.64%.
The broader markets also traded lower, with the Nifty Midcap 100 falling 0.89% and the Nifty Smallcap 100 declining 0.45% as of 2:15 PM.
Meanwhile, the Nifty 100, Nifty 200, Nifty 500, and Nifty Total Market indices were down between 0.82% and 0.88%, indicating broad-based selling pressure across the Indian market.
Before today’s correction, Nifty and Sensex had gained approximately 4.1% and 4.4%, respectively, over the previous 7 trading sessions, supported by easing crude oil prices and moderation in foreign outflows.
On Monday, the Sensex had risen 291.17 points to close at 77,094.07, while the Nifty settled 89.80 points higher at 24,102.90.
India VIX, often referred to as the market's fear gauge, rose more than 9% to trade above the 14 level, indicating increased uncertainty and higher expectations of market volatility in the near term.
Indian equity markets traded lower on June 23 amid weak global cues, continued FII selling, rupee weakness, and broad-based sectoral declines. IT and metal stocks led to the losses, while pharma and healthcare stocks bucked the trend. Investors will continue to monitor global market developments, currency movements, and institutional flows for further direction.
Want to read stock market updates in Hindi? Angel One News gives comprehensive share market news in Hindi.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Jun 23, 2026, 2:44 PM IST
Rakesh Deshmukh
Rakesh Deshmukh is a financial content specialist with around 3 years of experience writing impactful content across equities, mutual funds, IPOs, and personal finance. At Angel One, he decodes real-time market trends and breaking news, helping investors and traders stay updated. He also helps investors make informed decisions by simplifying market fundamentals and technical analysis. He holds a bachelor’s degree in commerce.
Know MoreWe're Live on WhatsApp! Join our channel for market insights & updates
Get the link to download the App
EN