Stock market crash 8 June 2026: Sensex, Nifty drop over 1% on global rout

Indian equities fell over 1% on Monday as Sensex and Nifty 50 tracked a sharp global tech selloff and rising West Asia tensions that pushed Brent crude near $97 a barrel. Selling was broad-based across sectors, with information technology and cyclicals under pressure and volatility spiking.

Market overview

Index	8 June 2026 Close*	Move & % Change	Comments
Sensex	approx. 73,520	approx. -725 pts (-1.0%)	Opened over 800 points lower; all constituents in red in early trade.
Nifty 50	23,138.60	-222.45 pts (-0.95%)	Slipped below 23,150; stayed under key moving averages.
Nifty Midcap 100	approx. level	down over 1%	Mirrored frontline weakness, indicating broad risk-off mood.
Nifty Smallcap 100	approx. level	down over 1%	Underperformed slightly, highlighting pressure in high beta names.
India VIX	around 18.0	+12–15%	Volatility jumped as risk sentiment deteriorated.

*Note: figures are approximate; final exchange data not available at time of publication.

• Market capitalisation of BSE-listed firms slipped to about ₹456 lakh crore, wiping out over ₹5 lakh crore intraday.
• Nifty opened near 23,080.70, down about 286 points (1.22%), and struggled to reclaim higher levels.
• Analysts flagged 23,100–23,000 as immediate Nifty support, with resistance around 23,500–23,700.
• Broader structure on Nifty remains a lower high, lower low pattern, signalling persistent selling.

Sectoral action

Sector / Index	Direction (approx.)	Key Drivers
Nifty IT	down about 2%	Hit by global tech and AI stock selloff, weak growth outlook.
Nifty Realty	down nearly 2%	Risk-off trade amid higher crude and geopolitical tensions.
Nifty Metal	down over 1%	Tracked global risk aversion and weaker Asian markets.
Nifty Auto	down over 1%	Growth worries and higher crude weighed on sentiment.
Nifty Pharma	up about 1.25–1.4%	Defensive buying, sector outperformed for fourth straight session.

*Note: figures are approximate; final exchange data not available at time of publication.

• All major NSE sectoral indices traded in the red except pharma.
• Nifty Consumer Durables, Nifty Private Bank, Nifty PSU Bank also fell over 1%, per intraday readings.
• Defensive rotation was visible as investors moved into pharmaceuticals amid global uncertainty.

Key movers

Top gainers (sectoral context)

Stock	Sector	Notable Factor
Tech Mahindra	IT	Rose 1.25% to ₹1,502, bucking sector weakness.
Mphasis	IT	Gained 0.86% to ₹2,350 despite global tech selloff.
Persistent Systems	IT	Added 0.33% to ₹5,055 on selective buying.
LTIMindtree	IT	Inched up 0.10%, helping limit Nifty IT downside.
OFSS	IT	Gained 0.09%, also resilient within IT basket.
JB Chemicals & Pharmaceuticals	Pharma	Jumped nearly 1.8%, among top pharma gainers.
Alkem Laboratories	Pharma	Advanced around 1.7%, supported Nifty Pharma.
Mankind Pharma	Pharma	Climbed about 1.7%, aided defensive rotation.
Torrent Pharma, Ajanta Pharma, Dr Reddy’s, Gland Pharma	Pharma	Rose up to 1.3%, extended sector outperformance.

*Note: figures are approximate; final exchange data not available at time of publication.

• Nifty Pharma logged its fourth consecutive positive session and is up about 7% year to date.
• Analysts cited consistent healthcare demand and rupee depreciation as supportive for export-focused pharma names.

Top losers

Stock	Sector	Notable Factor
Wipro	IT	Slumped 6.46% to ₹185.55 on heavy selling.
TCS	IT	Fell 1.47% to ₹2,166.50, tracking global tech weakness.
Coforge	IT	Lost 0.28% to ₹1,431.50 amid sector pressure.
Infosys	IT	Eased 0.11% to ₹1,196.20, relatively resilient.
Hindalco, Tata Steel, JSW Steel	Metal	Featured among major Nifty laggards as metals sold off.
Bajaj Finance, Shriram Finance	Financials	Declined sharply, reflecting risk-off in rate-sensitive names.
Trent	Retail	Dropped nearly 2%, leading early Sensex losses.
M&M, ICICI Bank, Tata Steel	Various	Fell around 2% each in early trade.

*Note: figures are approximate; final exchange data not available at time of publication.

• All Sensex constituents traded in the red during early trade, underscoring the breadth of the selloff.
• On NSE, about 2,073 stocks declined, 492 advanced, and 109 were unchanged, indicating weak market breadth.

IT and pharma: divergent sector stories

• Nifty IT corrected nearly 8% from its recent high of 31,291 hit on 2 June, according to technical estimates.
• The index slipped below key short- and long-term moving averages, signalling a weakening trend.
• Daily RSI for Nifty IT fell from 66 to 46, while weekly RSI stayed below 40, indicating negative momentum.
• 20-day EMA zone of 29,230–29,250 is seen as immediate resistance for Nifty IT.
• Most Tier-1 IT firms have guided for low single-digit FY27 revenue growth, with Tier-2 and Tier-3 targeting low double digits.
• Analysts said recent IT rebound was largely a technical recovery after valuation correction and short covering.
• They expect IT to remain range-bound over the next one to two quarters, with AI-led benefits visible more from FY28.

• In contrast, Nifty Pharma has rallied nearly 15% from its 2 April low of 21,150.
• The index trades comfortably above key moving averages, with RSI rebounding from 49 to around 57.
• Technical analysts highlighted 23,750–23,800 as a critical support zone, with 24,000 also an important near-term floor.
• Preferred picks cited by analysts include Laurus Labs, Zydus Lifesciences, Glenmark Pharma, Gland Pharma.

Global cues and macro drivers

Market / Asset	Movement	Notes
Nasdaq Composite	-4.2% (Friday)	Biggest one-day fall since April 2025, led by AI and chip stocks.
Philadelphia Semiconductor Index	Sharp fall	Lost over $1 trillion in value, largest drop since March 2020.
Kospi (South Korea)	-5% to -9% intraday	Tech-heavy index triggered circuit breaker after steep fall.
Nikkei (Japan)	-4% approx.	Hit by profit-taking in semiconductor and AI names.
Hang Seng, Shanghai Composite	down over 1%	Followed Wall Street weakness.
Brent crude	around +4% to $96.90–97	Spiked on West Asia tensions and supply concerns.
WTI crude	around +4.6% to $94.75	Rose on fears of disruption in Strait of Hormuz.
USD/INR	around 95.35	Rupee weakened 17 paise after prior session gains.

*Note: figures are approximate; final exchange data not available at time of publication.

• Escalating Israel–Iran tensions and reports of explosions in Tehran, Tabriz, Isfahan raised fears of a wider conflict.
• Concerns focused on possible disruption in the Strait of Hormuz, through which over one-fifth of global oil and gas flows.
• A stronger-than-expected US jobs print of 1,72,000 in May reduced hopes of early Federal Reserve rate cuts.
• Market strategists warned this could even raise the probability of a Fed rate hike, complicating the inflation outlook.
• Persistent FII selling continued, with foreign investors offloading over ₹31,000 crore in the first week of June, per provisional NSE data.
• Domestic institutions remained net buyers, partly cushioning the fall.

Technical outlook for headline indices

• Nifty continues to trade below key moving averages, reinforcing a cautious technical setup.
• The index is maintaining a lower high, lower low formation, typical of a corrective phase.
• Immediate support is seen in the 23,100–23,000 band; a breach could invite further downside.
• Resistance is clustered around 23,500–23,700, where supply has repeatedly emerged.
• India VIX near 18 suggests elevated but not extreme fear, with traders pricing in higher short-term swings.

Flexi-cap funds: outperformance but weak investor experience

• Over the past year, the Nifty 500 TRI fell 3.71%.
• 33 of 38 flexi-cap mutual funds beat this benchmark, with category average at -1.29%.
• Only 15 schemes delivered positive 1-year returns, managing about ₹88,000 crore of ₹5.43 lakh crore flexi-cap AUM.
• This implies only 16% of investor money sat in funds that actually made gains.
• Quant Flexi Cap Fund led with a 11.15% 1-year return, nearly 15 percentage points above Nifty 500 TRI.
• Large schemes like Parag Parikh Flexi Cap (-1.19%), HDFC Flexi Cap (-0.14%), Kotak Flexicap (-1.36%) shaped the average investor outcome.
• Just five flexi-cap funds underperformed the Nifty 500 TRI, with Samco Flexi Cap down 9.18%.

• “The past year produced a clear set of winners and losers among flexi cap funds. Yet history suggests those rankings can change quickly,” the analysis noted, highlighting the need to assess strategy, risk metrics and multi-cycle performance, not just 1-year returns.

Key market statistics

Statistic	Value / Change	Context
BSE market cap	₹456 lakh crore	Over ₹5 lakh crore wealth erased in Monday’s selloff.
India VIX	around 18	Jumped 12–15%, signalling heightened near-term volatility.
FII flows (first week June)	-₹31,120 crore approx.	Persistent foreign selling weighed on indices.
Rupee vs USD	95.35	Weakened 17 paise, reversing some prior RBI-driven gains.

*Note: figures are approximate; final exchange data not available at time of publication.

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