{"id":15317,"date":"2026-06-24T00:49:47","date_gmt":"2026-06-24T00:49:47","guid":{"rendered":"https:\/\/lemonn.co.in\/blog\/finance\/sensex-nifty-fall-tech-rout-2026-06-24\/"},"modified":"2026-06-24T00:51:09","modified_gmt":"2026-06-24T00:51:09","slug":"sensex-nifty-fall-tech-rout-2026-06-24","status":"publish","type":"post","link":"https:\/\/lemonn.co.in\/blog\/market-updates\/sensex-nifty-fall-tech-rout-2026-06-24\/","title":{"rendered":"Sensex drops 893 pts, Nifty slips to 23,824 on tech rout"},"content":{"rendered":"
\"Sensex<\/figure>\n\n\n

Indian equities fell over 1 percent on Tuesday as a global technology selloff, weak macro data and monsoon concerns dragged the Nifty 50<\/strong> below 23,850<\/strong> and pulled the Sensex<\/strong> down nearly 900 points<\/strong>. Metals and IT shares led the decline, while a softer rupee and fears of prolonged high US interest rates added to risk aversion.<\/p>\n\n\n\n

Market overview<\/h2>\n\n\n\n
Index<\/strong><\/th>23 Jun Close<\/strong><\/th>Move & % Change<\/strong><\/th>Comments<\/strong><\/th><\/tr><\/thead>
Sensex<\/strong><\/td>76,200.68<\/td>-893 pts (-1.16%)<\/td>Broad-based selling, heavy IT and metal drag.<\/td><\/tr>
Nifty 50<\/strong><\/td>23,824.10<\/td>-279 pts (-1.16%)<\/td>Settled below 23,850 after expiry-led volatility.<\/td><\/tr>
Nifty Midcap<\/strong><\/td>N\/A<\/td>-1.05% (approx.)<\/td>Midcaps under pressure, mirroring largecaps.<\/td><\/tr>
Nifty Smallcap<\/strong><\/td>N\/A<\/td>-0.48% (approx.)<\/td>Smaller decline versus midcaps and benchmarks.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
    \n
  • BSE market capitalisation fell to \u20b9475 lakh crore<\/strong> from about \u20b9480.6 lakh crore<\/strong>.<\/li>\n\n\n\n
  • Investors lost nearly \u20b96 lakh crore<\/strong> in equity wealth in one session.<\/li>\n\n\n\n
  • Nifty had risen in six of the previous eight sessions before Tuesday’s fall.<\/li>\n<\/ul>\n\n\n\n

    Key market statistics<\/h2>\n\n\n\n
    Statistic<\/strong><\/th>Value \/ Change<\/strong><\/th>Context<\/strong><\/th><\/tr><\/thead>
    Rupee close<\/strong><\/td>94.74 per US dollar<\/td>Weakened 11 paise<\/strong>, tracking stronger dollar.<\/td><\/tr>
    Rupee intraday move<\/strong><\/td>94.7350 vs 94.6775<\/td>About 0.1%<\/strong> decline, near key resistance zone.<\/td><\/tr>
    BSE m-cap<\/strong><\/td>\u20b9475 lakh crore<\/td>Down from \u20b9480.6 lakh crore, broad selloff impact.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
      \n
    • Rupee softness reflected higher US yields and dollar strength against Asian currencies.<\/li>\n\n\n\n
    • Domestic institutional investors were net buyers, while foreign investors posted marginal inflows.<\/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 Metal<\/strong><\/td>down 3.2%<\/td>Global price weakness, demand concerns, strong dollar.<\/td><\/tr>
      Nifty IT<\/strong><\/td>down 2.2%<\/td>Renewed selling after cautious global IT guidance.<\/td><\/tr>
      Nifty PSU Bank<\/strong><\/td>down 2.0%<\/td>Broad risk-off, profit booking in financials.<\/td><\/tr>
      Nifty Bank<\/strong><\/td>down 1.3%<\/td>Pressure from rate fears and domestic data worries.<\/td><\/tr>
      Financial Services<\/strong><\/td>down 1.0%<\/td>Linked to broader risk sentiment and profit taking.<\/td><\/tr>
      Consumer Durables<\/strong><\/td>down 1.5%<\/td>Demand concerns amid weak macro and monsoon worries.<\/td><\/tr>
      Media<\/strong><\/td>down 1.5%<\/td>Part of broad-based decline.<\/td><\/tr>
      Realty<\/strong><\/td>down 1.1%<\/td>Sensitive to rates and growth outlook.<\/td><\/tr>
      Nifty Pharma<\/strong><\/td>up 0.9%<\/td>Only major gainer, defensive buying.<\/td><\/tr>
      Healthcare<\/strong><\/td>up 0.5%<\/td>Benefited from rotation into defensives.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
        \n
      • Metals fell as a stronger US dollar raised costs for buyers and global prices softened.<\/li>\n\n\n\n
      • IT remained under pressure from concerns over AI-led disruption and slower tech spending.<\/li>\n\n\n\n
      • Weekly options expiry on the NSE added to intraday volatility.<\/li>\n<\/ul>\n\n\n\n

        Key movers<\/h2>\n\n\n\n

        Top gainers (Nifty 50)<\/h3>\n\n\n\n
        Stock<\/strong><\/th>Sector<\/strong><\/th>Notable Factor<\/strong><\/th><\/tr><\/thead>
        Cipla<\/strong><\/td>Pharma<\/td>Benefited from defensive rotation as broader market fell.<\/td><\/tr>
        Power Grid<\/strong><\/td>Utilities<\/td>Outperformed amid risk-off trade into defensives.<\/td><\/tr>
        Dr. Reddy’s Labs<\/strong><\/td>Pharma<\/td>Pharma index was the only sector closing higher.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

        Top losers (Nifty 50)<\/h3>\n\n\n\n
        Stock<\/strong><\/th>Sector<\/strong><\/th>Notable Factor<\/strong><\/th><\/tr><\/thead>
        Infosys<\/strong><\/td>IT<\/td>Fell over 3%, part of global tech selloff; AGM scheduled.<\/td><\/tr>
        Wipro<\/strong><\/td>IT<\/td>Declined over 3%, hit by renewed IT sector selling.<\/td><\/tr>
        TCS<\/strong><\/td>IT<\/td>Dropped over 3%, tracking cautious global IT commentary.<\/td><\/tr>
        Tata Steel<\/strong><\/td>Metals<\/td>Weighed by weaker metal prices and strong dollar.<\/td><\/tr>
        Vedanta<\/strong><\/td>Metals<\/td>Declined after \u20b92,150 crore<\/strong> block deal in the stock.<\/td><\/tr>
        Reliance Industries<\/strong><\/td>Energy<\/td>Shares slipped about 2% amid broad market weakness.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
          \n
        • Vodafone Idea, Vedanta group entities and some ETFs were among the most traded names by volume.<\/li>\n<\/ul>\n\n\n\n

          Global cues and macro triggers<\/h2>\n\n\n\n
          Market \/ Asset<\/strong><\/th>Movement<\/strong><\/th>Notes<\/strong><\/th><\/tr><\/thead>
          Kospi (South Korea)<\/strong><\/td>about -10%<\/td>Semiconductor-led selloff, circuit breaker triggered.<\/td><\/tr>
          US tech futures<\/strong><\/td>sharply lower<\/td>Nasdaq futures reportedly down about 800 points.<\/td><\/tr>
          US dollar index<\/strong><\/td>above 101<\/td>Stronger dollar weighed on metals and EM currencies.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
            \n
          • Kospi slump followed profit booking in Samsung Electronics<\/strong> and SK Hynix<\/strong>, both down over 12 percent.<\/li>\n\n\n\n
          • Weakness in US tech shares in the previous session further hurt sentiment toward global technology stocks.<\/li>\n\n\n\n
          • Rising crude oil prices linked to Middle East tensions revived inflation and US rate hike worries.<\/li>\n<\/ul>\n\n\n\n
              \n
            • Bank of America now expects the US Federal Reserve to raise rates three times in 2026<\/strong>.<\/li>\n\n\n\n
            • Higher US yields raised concerns about potential portfolio outflows from emerging markets like India.<\/li>\n<\/ul>\n\n\n\n

              Domestic data and monsoon concerns<\/h2>\n\n\n\n
                \n
              • India’s services activity fell to a 17\u2011month low<\/strong> in June.<\/li>\n\n\n\n
              • Manufacturing growth slowed, with the HSBC Flash Manufacturing PMI Output Index at 57.4<\/strong>, down from 58.0<\/strong> in May.<\/li>\n\n\n\n
              • Flash Services Business Activity Index eased to 57.3<\/strong> from a revised 59.8<\/strong> in May.<\/li>\n\n\n\n
              • Agriculture ministry flagged a 43 percent<\/strong> rainfall deficit versus normal.<\/li>\n\n\n\n
              • Over 450 districts<\/strong> reportedly faced deficient rainfall, raising risks for kharif sowing and rural demand.<\/li>\n\n\n\n
              • The Centre has prepared contingency plans for 12 states<\/strong> heavily dependent on monsoon rains.<\/li>\n<\/ul>\n\n\n\n

                Technical outlook for Nifty 50<\/h2>\n\n\n\n
                  \n
                • Nifty closed at 23,824.10<\/strong>, near the lower end of its recent 23,800 to 24,200<\/strong> congestion band.<\/li>\n\n\n\n
                • The 100\u2011day moving average near 24,200<\/strong> remains a key resistance zone.<\/li>\n<\/ul>\n\n\n\n
                    \n
                  • Sudeep Shah of SBI Securities sees 23,650 to 23,630<\/strong> as crucial support, aligning with 50 percent retracement.<\/li>\n\n\n\n
                  • A decisive break below 23,630<\/strong> could extend the correction toward 23,500<\/strong>.<\/li>\n\n\n\n
                  • Immediate resistance is pegged at 23,930 to 23,950<\/strong>, likely to cap near-term pullbacks.<\/li>\n\n\n\n
                  • Vipin Kumar of Globe Capital Market notes a close below 23,800<\/strong> could drag Nifty to 23,600 to 23,500<\/strong>.<\/li>\n\n\n\n
                  • Sustained trade above 23,950<\/strong> may open a move back toward 24,200<\/strong>.<\/li>\n<\/ul>\n\n\n\n

                    Policy and corporate developments<\/h2>\n\n\n\n
                      \n
                    • The government announced an OFS in Indian Railway Finance Corporation (IRFC)<\/strong>.<\/li>\n\n\n\n
                    • It plans to sell a 1 percent<\/strong> stake, with another 1 percent<\/strong> via greenshoe.<\/li>\n\n\n\n
                    • The OFS extends a series of divestment and stake sale moves since May.<\/li>\n\n\n\n
                    • Enforcement Directorate searched premises linked to Rajesh Exports<\/strong> after a SEBI allegation of overstated revenues.<\/li>\n\n\n\n
                    • The company has denied wrongdoing and maintained its financial reporting is accurate.<\/li>\n<\/ul>\n\n\n\n

                      Nifty outlook and next session watch<\/h2>\n\n\n\n
                        \n
                      • Nifty is attempting to hold the 23,800<\/strong> support after expiry-led selling.<\/li>\n\n\n\n
                      • Market participants will track global tech moves, US rate expectations and monsoon progress.<\/li>\n\n\n\n
                      • Domestic institutional buying and marginal foreign inflows provided some cushion to Tuesday’s decline.<\/li>\n<\/ul>\n\n\n\n

                        Q: Why did the Sensex and Nifty fall over 1 percent today?<\/strong><\/p>\n\n\n\n

                          \n
                        • Weak global cues from a 10 percent<\/strong> Kospi crash, renewed IT selling, metal weakness, monsoon worries and US rate hike fears triggered broad-based profit booking.<\/li>\n<\/ul>\n\n\n\n

                          Q: Which sectors were most affected in the market decline?<\/strong><\/p>\n\n\n\n

                            \n
                          • Metals and IT led losses, with PSU banks, banks, financials, consumer durables, media and realty also falling, while pharma and healthcare gained.<\/li>\n<\/ul>\n\n\n\n

                            Q: What key levels should traders watch on the Nifty 50 now?<\/strong><\/p>\n\n\n\n

                              \n
                            • Analysts highlight support around 23,650 to 23,630<\/strong>, with downside risk to 23,500<\/strong>, and resistance near 23,930 to 23,950<\/strong> and then 24,200<\/strong>.<\/li>\n<\/ul>\n\n\n\n

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

                              Why did the Sensex and Nifty fall over 1 percent today?<\/h3>\n\n\n\n

                              Weak global cues from a sharp Kospi crash, renewed IT stock selling, metal weakness, monsoon concerns, softer macro data and revived US rate hike fears led to broad-based profit booking and dragged both indices lower.<\/p>\n\n\n\n

                              Which sectors were most affected in the market decline?<\/h3>\n\n\n\n

                              Metals and IT were the biggest drags, with PSU banks, banks, financial services, consumer durables, media and realty also falling, while pharma and healthcare indices closed higher as defensives.<\/p>\n\n\n\n

                              What key technical levels should traders watch on the Nifty 50?<\/h3>\n\n\n\n

                              Analysts flag support around 23,650\u201323,630 and then 23,500 on the downside, with resistance near 23,930\u201323,950 and the upper congestion band around 24,200.<\/p>\n","protected":false},"excerpt":{"rendered":"

                              Indian equities fell over 1 percent on Tuesday as a global technology selloff, weak macro data and monsoon concerns dragged the Nifty 50 below 23,850 and pulled the Sensex down nearly 900 points. Metals and IT shares led the decline, while a softer rupee and fears of prolonged high US interest rates added to risk […]<\/p>\n","protected":false},"author":15,"featured_media":15320,"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 over 1 percent on Tuesday as a global technology selloff, weak macro data and monsoon concerns dragged the Nifty 50 below 23,850 and pulled the Sensex down nearly 900 points. Nifty closed at 23,824.10, near the lower end of its recent 23,800 to 24,200 congestion band. Weak global cues from a sharp Kospi crash, renewed IT stock selling, metal weakness, monsoon concerns, softer macro data and revived US rate hike fears led to broad-based profit booking and dragged both indices lower.","_ayudawp_aiss_summary_provider":"extractive","_ayudawp_aiss_summary_hash":"145e4aa3952876c9cd5d2d9c0b8bd558fbc16144","footnotes":""},"categories":[512],"tags":[],"class_list":["post-15317","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-fall-tech-rout-2026-06-24-banner.png",1200,640,false],"thumbnail":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/sensex-nifty-fall-tech-rout-2026-06-24-banner-150x150.png",150,150,true],"medium":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/sensex-nifty-fall-tech-rout-2026-06-24-banner-300x160.png",300,160,true],"medium_large":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/sensex-nifty-fall-tech-rout-2026-06-24-banner-768x410.png",768,410,true],"large":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/sensex-nifty-fall-tech-rout-2026-06-24-banner-1024x546.png",1024,546,true],"1536x1536":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/sensex-nifty-fall-tech-rout-2026-06-24-banner.png",1200,640,false],"2048x2048":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/sensex-nifty-fall-tech-rout-2026-06-24-banner.png",1200,640,false],"web-stories-poster-portrait":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/sensex-nifty-fall-tech-rout-2026-06-24-banner-640x640.png",640,640,true],"web-stories-publisher-logo":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/sensex-nifty-fall-tech-rout-2026-06-24-banner-96x96.png",96,96,true],"web-stories-thumbnail":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/sensex-nifty-fall-tech-rout-2026-06-24-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":"Indian equities fell over 1 percent on Tuesday as a global technology selloff, weak macro data and monsoon concerns dragged the Nifty 50 below 23,850 and pulled the Sensex down nearly 900 points. Metals and IT shares led the decline, while a softer rupee and fears of prolonged high US interest rates added to risk…","_links":{"self":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts\/15317","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=15317"}],"version-history":[{"count":1,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts\/15317\/revisions"}],"predecessor-version":[{"id":15321,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts\/15317\/revisions\/15321"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/media\/15320"}],"wp:attachment":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/media?parent=15317"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/categories?post=15317"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/tags?post=15317"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}