{"id":14812,"date":"2026-06-08T12:40:57","date_gmt":"2026-06-08T12:40:57","guid":{"rendered":"https:\/\/lemonn.co.in\/blog\/?p=14812"},"modified":"2026-06-08T12:40:59","modified_gmt":"2026-06-08T12:40:59","slug":"sensex-nifty-close-two-month-lows","status":"publish","type":"post","link":"https:\/\/lemonn.co.in\/blog\/market-updates\/sensex-nifty-close-two-month-lows\/","title":{"rendered":"Sensex Today | Nifty 50 | Stock Market Highlights: Benchmarks hit two\u2011month lows as crude spikes, tech reels"},"content":{"rendered":"
\"Sensex<\/figure>\n\n\n

Indian equities fell for a second straight session on Monday, with the Sensex<\/strong> dropping 719 points<\/strong> and the Nifty 50<\/strong> losing 244 points<\/strong> to close at their lowest levels in nearly two months, as a global tech selloff, surging crude oil and renewed West Asia tensions triggered broad-based risk aversion. Market breadth weakened sharply across large- and mid-cap segments, even as pharma stocks and a few defensives managed to resist the slide.<\/p>\n\n\n\n

Market overview<\/h2>\n\n\n\n
Index<\/strong><\/th>8 Jun Close<\/strong><\/th>Move & % Change<\/strong><\/th>Comments<\/strong><\/th><\/tr><\/thead>
Sensex<\/strong><\/td>73,524.26<\/strong><\/td>-719 pts (-0.97%)<\/strong><\/td>Hit intraday low of 73,318; second straight decline.<\/td><\/tr>
Nifty 50<\/strong><\/td>23,123.00<\/strong><\/td>-244 pts (-1.04%)<\/strong><\/td>Slipped to 23,070 intraday; two\u2011month closing low.<\/td><\/tr>
Nifty Bank<\/strong><\/td>54,064.00<\/strong><\/td>-433 pts (approx. -0.8%)<\/strong><\/td>Financials dragged by ICICI Bank, other heavyweights.<\/td><\/tr>
Nifty Midcap index<\/strong><\/td>59,906.00<\/strong><\/td>-849 pts (approx. -1.4%)<\/strong><\/td>Broader markets underperformed, reflecting risk-off mood.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Note: figures are approximate; final exchange data not available at time of publication.<\/p>\n\n\n\n

    \n
  • Sensex<\/strong> declined for the second session after Friday’s 117\u2011point fall.<\/li>\n\n\n\n
  • Nifty 50<\/strong> extended losses from Friday’s 49\u2011point drop, closing below 23,150 support.<\/li>\n\n\n\n
  • Around 24 of 30 Sensex<\/strong> and 40 Nifty<\/strong> stocks ended lower, per exchange data.<\/li>\n\n\n\n
  • NSE advance\u2011decline ratio was near 1:3<\/strong>, indicating broad-based selling.<\/li>\n\n\n\n
  • Market capitalisation of BSE-listed firms fell by over \u20b95 lakh crore<\/strong> in early trade.<\/li>\n<\/ul>\n\n\n\n

    Key movers: index heavyweights<\/h2>\n\n\n\n
    Stock<\/strong><\/th>Sector<\/strong><\/th>Notable factor<\/strong><\/th><\/tr><\/thead>
    Reliance Industries<\/strong><\/td>Oil & gas<\/td>Among key drags on indices as crude spiked.<\/td><\/tr>
    ICICI Bank<\/strong><\/td>Banking<\/td>Contributed to Nifty Bank weakness.<\/td><\/tr>
    Mahindra & Mahindra<\/strong><\/td>Auto<\/td>Featured among major losers on Sensex.<\/td><\/tr>
    Larsen & Toubro<\/strong><\/td>Capital goods<\/td>Weighed on benchmarks amid broad selling.<\/td><\/tr>
    TCS<\/strong><\/td>IT<\/td>Fell around 2% as IT index corrected further.<\/td><\/tr>
    Wipro<\/strong><\/td>IT<\/td>Slumped 6.46%<\/strong> to \u20b9185.55 on heavy selling.<\/td><\/tr>
    Jio Financial Services<\/strong><\/td>Financials<\/td>Among top Nifty losers.<\/td><\/tr>
    Eternal<\/strong><\/td>Diversified<\/td>Cited among biggest laggards on Sensex\/Nifty.<\/td><\/tr>
    Shriram Finance<\/strong><\/td>NBFC<\/td>Listed among notable losers in Nifty pack.<\/td><\/tr>
    Power Grid<\/strong><\/td>Utilities<\/td>One of the few Sensex gainers.<\/td><\/tr>
    Tech Mahindra<\/strong><\/td>IT<\/td>Rose 1.25%<\/strong> to \u20b91,502, bucking IT weakness.<\/td><\/tr>
    Bharat Electronics<\/strong><\/td>Defence electronics<\/td>Closed in the green on Sensex.<\/td><\/tr>
    Bharti Airtel<\/strong><\/td>Telecom<\/td>Featured among Sensex winners.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
      \n
    • Downstream OMCs IOC<\/strong>, HPCL<\/strong>, BPCL<\/strong> fell up to 4%<\/strong> on margin worries from higher crude.<\/li>\n\n\n\n
    • In the broader market, Muthoot Finance<\/strong> dropped over 6%<\/strong>, Kalyan Jewellers<\/strong> about 5%<\/strong> on weaker bullion prices.<\/li>\n<\/ul>\n\n\n\n

      Sectoral action<\/h2>\n\n\n\n
      Sector \/ Index<\/strong><\/th>Direction (approx.)<\/strong><\/th>Key drivers<\/strong><\/th><\/tr><\/thead>
      Nifty IT<\/strong><\/td>down 2%<\/strong><\/td>Hit by global tech and AI-led selloff; Wipro, TCS weak.<\/td><\/tr>
      Nifty Metal<\/strong><\/td>down (underperforms)<\/strong><\/td>SAIL, NALCO<\/strong> slid, NALCO down around 4%.<\/td><\/tr>
      Downstream OMCs<\/strong><\/td>down up to 4%<\/strong><\/td>Brent near $97 raised concerns on marketing margins.<\/td><\/tr>
      Nifty Pharma<\/strong><\/td>up 1.4%<\/strong><\/td>Fourth straight gain as investors rotated to defensives.<\/td><\/tr>
      Nifty CPSE<\/strong><\/td>up (modest)<\/strong><\/td>One of few indices closing positive.<\/td><\/tr>
      Nifty Healthcare<\/strong><\/td>up (modest)<\/strong><\/td>Benefited from defensive buying.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

      Note: figures are approximate; final exchange data not available at time of publication.<\/p>\n\n\n\n

        \n
      • Nifty IT<\/strong> has corrected nearly 8%<\/strong> from its 2 June high of 31,291.<\/li>\n\n\n\n
      • Nifty Pharma<\/strong> is up about 7%<\/strong> year\u2011to\u2011date and has outperformed over the past month.<\/li>\n\n\n\n
      • Mid- and small-cap indices lost more than 1%<\/strong>, signalling risk-off in broader markets.<\/li>\n<\/ul>\n\n\n\n

        IT stocks under pressure<\/h2>\n\n\n\n
          \n
        • Wall Street’s Nasdaq<\/strong> fell 4.18%<\/strong> on Friday, its steepest one-day drop since April 2025.<\/li>\n\n\n\n
        • The Philadelphia Semiconductor Index<\/strong> saw its biggest one-day fall since March 2020, erasing over $1 trillion in value.<\/li>\n\n\n\n
        • Asian tech indices followed: Kospi<\/strong> fell between 5% and 8%<\/strong>, Nikkei 225<\/strong> nearly 4%<\/strong>, Taiwan’s main index around 4%<\/strong>.<\/li>\n\n\n\n
        • “The rotation thesis is real, but selective. The Broadcom-triggered sell-off has exposed the fragility of hyper-concentrated AI markets in Korea and Taiwan,” said Khushi Mistry, Research Analyst, Bonanza<\/strong>.<\/li>\n\n\n\n
        • Infosys<\/strong> slipped 0.11%<\/strong> to \u20b91,196.20, Coforge<\/strong> eased to \u20b91,431.50.<\/li>\n\n\n\n
        • Mphasis<\/strong>, Persistent Systems<\/strong>, LTIMindtree<\/strong> and OFSS<\/strong> posted small gains, cushioning Nifty IT.<\/li>\n\n\n\n
        • Analysts noted most Tier\u20111 IT firms are guiding for low single\u2011digit FY27 revenue growth, with Tier\u20112\/3 expecting low double digits.<\/li>\n<\/ul>\n\n\n\n

          Pharma outperforms in volatile trade<\/h2>\n\n\n\n
            \n
          • Nifty Pharma<\/strong> rose 1.25\u20131.4%<\/strong>, extending its winning streak to a fourth session.<\/li>\n\n\n\n
          • JB Chemicals & Pharmaceuticals<\/strong> gained nearly 1.8%<\/strong>; Alkem Laboratories<\/strong> and Mankind Pharma<\/strong> advanced around 1.7%<\/strong> each.<\/li>\n\n\n\n
          • Torrent Pharma<\/strong>, Ajanta Pharma<\/strong>, Dr Reddy\u2019s<\/strong>, Gland Pharma<\/strong> added up to 1.3%<\/strong>.<\/li>\n\n\n\n
          • Wockhardt<\/strong> fell over 2.3%<\/strong>; Lupin<\/strong>, Cipla<\/strong>, Piramal Pharma<\/strong>, Laurus Labs<\/strong> slipped up to 0.8%<\/strong>.<\/li>\n\n\n\n
          • Analysts highlighted pharma’s defensive appeal and support from a weaker rupee for exporters.<\/li>\n<\/ul>\n\n\n\n

            Global cues and macro drivers<\/h2>\n\n\n\n
            Market \/ Asset<\/strong><\/th>Movement<\/strong><\/th>Notes<\/strong><\/th><\/tr><\/thead>
            Nasdaq Composite (Fri)<\/strong><\/td>-4.18%<\/strong><\/td>Tech-led selloff, largest fall since April 2025.<\/td><\/tr>
            S&P 500 (Fri)<\/strong><\/td>-2.64%<\/strong><\/td>Broad US weakness; Dow down 1.35%.<\/td><\/tr>
            Kospi (Mon)<\/strong><\/td>-8 to -9% intraday<\/strong><\/td>Circuit breaker triggered; semiconductor-heavy index hit.<\/td><\/tr>
            Nikkei 225 (Mon)<\/strong><\/td>-3.85 to -4%<\/strong><\/td>Tech and export stocks sold off.<\/td><\/tr>
            Hang Seng \/ Shanghai<\/strong><\/td>down >1%<\/strong><\/td>Followed Wall Street weakness.<\/td><\/tr>
            Brent crude<\/strong><\/td>around +4.1% to $96.91<\/strong><\/td>Near $97 on West Asia tensions.<\/td><\/tr>
            WTI crude<\/strong><\/td>+3.5% (approx.)<\/strong><\/td>Approached $94 per barrel.<\/td><\/tr>
            USD\/INR<\/strong><\/td>around 95.35<\/strong><\/td>Rupee weakened 17 paise in early trade.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

            Note: figures are approximate; final exchange data not available at time of publication.<\/p>\n\n\n\n

              \n
            • Israel and Iran exchanged missile strikes for the first time since a ceasefire announcement, raising supply risks.<\/li>\n\n\n\n
            • Concerns grew over disruptions near the Strait of Hormuz<\/strong>, through which over one\u2011fifth of global oil and gas flows.<\/li>\n\n\n\n
            • “Global sentiment has weakened amid a flare-up of tensions in West Asia, pushing crude towards $100\/bbl,” said Vinod Nair, Head of Research, Geojit Investments<\/strong>.<\/li>\n\n\n\n
            • US non-farm payrolls showed 172,000<\/strong> jobs added in May, above expectations of around 80,000.<\/li>\n\n\n\n
            • Strong US data reduced hopes of near-term Federal Reserve rate cuts, keeping global yields elevated.<\/li>\n\n\n\n
            • Foreign Institutional Investors sold \u20b98,776.25 crore<\/strong> of Indian equities on Friday, per exchange data.<\/li>\n<\/ul>\n\n\n\n

              Technical and sentiment snapshot<\/h2>\n\n\n\n
                \n
              • Both Sensex<\/strong> and Nifty 50<\/strong> are now trading near two\u2011month lows after breaking recent support zones.<\/li>\n\n\n\n
              • Nifty IT<\/strong> has slipped below key short- and long-term moving averages; daily RSI has dropped from 66 to 46.<\/li>\n\n\n\n
              • Analysts see the 29,230\u201329,250<\/strong> band as immediate resistance for Nifty IT; bias remains sideways to bearish below this.<\/li>\n\n\n\n
              • For Nifty Pharma<\/strong>, the 23,750\u201323,800<\/strong> region is seen as critical support, with the index holding above major moving averages.<\/li>\n\n\n\n
              • Market participants flagged elevated volatility and a shift to defensives such as pharma and select CPSE names.<\/li>\n<\/ul>\n\n\n\n

                FAQs<\/h2>\n\n\n\n

                Q: Why did Sensex and Nifty fall today?<\/strong><\/p>\n\n\n\n

                  \n
                • Global tech selloff, higher crude near $97, renewed Israel\u2011Iran tensions and continued FII selling dragged both indices to two\u2011month lows.<\/li>\n<\/ul>\n\n\n\n

                  Q: Which sectors were hit the most in today\u2019s session?<\/strong><\/p>\n\n\n\n

                    \n
                  • IT, metals and downstream oil marketing companies underperformed, while broader mid- and small-caps also saw sharper declines than the benchmarks.<\/li>\n<\/ul>\n\n\n\n

                    Q: Which pockets of the market held up despite the selloff?<\/strong><\/p>\n\n\n\n

                      \n
                    • Pharma, CPSE and healthcare indices closed in positive territory, with stocks like JB Chemicals, Alkem and Mankind Pharma gaining as investors sought defensives.<\/li>\n<\/ul>\n\n\n\n

                      Frequently Asked Questions<\/h2>\n\n\n\n

                      Why did Sensex and Nifty fall on 8 June 2026?<\/h3>\n\n\n\n

                      Sensex and Nifty fell due to a global tech-led selloff, crude oil nearing $97 per barrel, renewed Israel-Iran tensions and sustained FII selling, which together triggered broad-based risk aversion across Indian equities.<\/p>\n\n\n\n

                      How did IT and pharma stocks perform in today\u2019s market?<\/h3>\n\n\n\n

                      IT stocks underperformed, with Nifty IT down about 2% and names like Wipro and TCS declining, as global technology shares corrected. Pharma outperformed, with Nifty Pharma up around 1.4% and stocks such as JB Chemicals, Alkem and Mankind Pharma gaining.<\/p>\n\n\n\n

                      What role did crude oil prices play in today\u2019s market move?<\/h3>\n\n\n\n

                      Brent crude rose about 4% to near $97 a barrel on escalating West Asia tensions and potential Strait of Hormuz disruptions, hurting sentiment in oil-sensitive sectors like downstream OMCs and contributing to the broader equity selloff.<\/p>\n","protected":false},"excerpt":{"rendered":"

                      Sensex falls 719 pts to 73,524 and Nifty 244 pts to 23,123 amid global tech selloff, West Asia tensions and crude near $97; IT, metals, OMCs slide while pharma outperforms.<\/p>\n","protected":false},"author":15,"featured_media":14813,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_ayudawp_aiss_exclude":false,"_ayudawp_aiss_summary":"Indian equities fell for a second straight session on Monday, with the Sensex dropping 719 points and the Nifty 50 losing 244 points to close at their lowest levels in nearly two months, as a global tech selloff, surging crude oil and renewed West Asia tensions triggered broad-based risk aversion. Sensex and Nifty fell due to a global tech-led selloff, crude oil nearing $97 per barrel, renewed Israel-Iran tensions and sustained FII selling, which together triggered broad-based risk aversion across Indian equities. Pharma outperformed, with Nifty Pharma up around 1.4% and stocks such as JB Chemicals, Alkem and Mankind Pharma gaining.","_ayudawp_aiss_summary_provider":"extractive","_ayudawp_aiss_summary_hash":"c72b8aca5a3ebe3cceb95e10842a076ae1940c75","footnotes":""},"categories":[512],"tags":[],"class_list":["post-14812","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-updates"],"blocksy_meta":[],"uagb_featured_image_src":{"full":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/sensex-nifty-close-two-month-lows-banner.png",1200,640,false],"thumbnail":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/sensex-nifty-close-two-month-lows-banner-150x150.png",150,150,true],"medium":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/sensex-nifty-close-two-month-lows-banner-300x160.png",300,160,true],"medium_large":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/sensex-nifty-close-two-month-lows-banner-768x410.png",768,410,true],"large":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/sensex-nifty-close-two-month-lows-banner-1024x546.png",1024,546,true],"1536x1536":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/sensex-nifty-close-two-month-lows-banner.png",1200,640,false],"2048x2048":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/sensex-nifty-close-two-month-lows-banner.png",1200,640,false],"web-stories-poster-portrait":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/sensex-nifty-close-two-month-lows-banner-640x640.png",640,640,true],"web-stories-publisher-logo":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/sensex-nifty-close-two-month-lows-banner-96x96.png",96,96,true],"web-stories-thumbnail":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/sensex-nifty-close-two-month-lows-banner-150x80.png",150,80,true]},"uagb_author_info":{"display_name":"Team Lemonn","author_link":"https:\/\/lemonn.co.in\/blog\/author\/yudh\/"},"uagb_comment_info":0,"uagb_excerpt":"Sensex falls 719 pts to 73,524 and Nifty 244 pts to 23,123 amid global tech selloff, West Asia tensions and crude near $97; IT, metals, OMCs slide while pharma outperforms.","_links":{"self":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts\/14812","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/comments?post=14812"}],"version-history":[{"count":1,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts\/14812\/revisions"}],"predecessor-version":[{"id":14814,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts\/14812\/revisions\/14814"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/media\/14813"}],"wp:attachment":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/media?parent=14812"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/categories?post=14812"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/tags?post=14812"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}