HOME > MARKETS > MARKET COMMENTARY
  MARKET COMMENTARY
EQUITY
Sensex, Nifty witness sharp fall in early noon deals
Jun-23-2026

A sharp fall witnessed in Indian equity markets during early afternoon session, with both Sensex and Nifty trading lower by over half percent, on the back of heavy selling at almost all counters except healthcare, amid weak cues from other Asian markets. The mood in the market remained cautious with investors assessing the Middle East situation amid conflicting reports about peace efforts. Adding more concerns, growth of India's private sector softened in the month of June, with slower demand for Indian goods and services, restricting the extent to which output levels were raised. Besides, Moody's Ratings has flagged risk of water shortage and sustained fiscal pressure due to India's fragmented water governance structure, highly subsidised pricing and slow reallocation among sectors.

On the global front, Asian markets were trading lower, amid continued uncertainty about the progress in the ongoing peace talks to end the Middle East war and the related complete opening of the Strait of Hormuz.

The BSE Sensex is currently trading at 76597.89, down by 496.18 points or 0.64% after trading in a range of 76501.52 and 77194.83. There were 5 stocks advancing against 25 stocks declining on the index.

The only gaining sectoral index on the BSE was Healthcare up by 0.97%, while Metal down by 2.45%, IT down by 1.98%, Basic Materials down by 1.64%, TECK down by 1.57% and Telecom down by 1.38% were the top losing indices on BSE.

The top gainers on the Sensex were Sun Pharma up by 1.12%, ICICI Bank up by 0.39%, Power Grid up by 0.22%, Larsen & Toubro up by 0.01% and Axis Bank up by 0.01%. On the flip side, Infosys down by 2.89%, TCS down by 2.84%, Tata Steel down by 2.39%, Adani Ports & SEZ down by 2.32% and Tech Mahindra down by 1.65% were the top losers.

Meanwhile, growth of India's private sector softened in the month of June, with slower demand for Indian goods and services, restricting the extent to which output levels were raised. Overall new orders volumes continued to rise strongly in June, despite the rate of expansion slowing to the weakest in three months. Growth eased at manufacturing firms and their services counterparts, as some companies struggled to secure new work. Competitive pressures, rising fuel prices and shortages of gas were often cited as hindrances.

According to the data report, the HSBC Flash India Manufacturing PMI eased from final reading of 55.0 in May to 54.5 in June, while HSBC Flash India Services PMI Business Activity Index also fell to 57.3 in June from May’s final reading of 59.8. Besides, the HSBC Flash India PMI Composite Output Index - a seasonally adjusted index that measures the month-on-month change in the combined output of India's manufacturing and service sectors - was down from a final reading of 59.3 in May to 57.4 in June.

Besides, the report noted that export trends were mixed in June, as faster growth in the service economy contrasted with the weakest increase at manufacturers since March 2023. At the composite level, international sales expanded at a solid pace that was nevertheless the slowest in 21 months. Further, there was a softer expansion in aggregate employment. Hiring activity at both goods producers and service providers was the least marked since December 2025.

The report also showed receding inflationary pressures and downgraded growth forecasts among survey participants. Companies remained confident of an increase in output over the coming 12 months relative to present levels, but the overall degree of optimism was the weakest since January and below the long-run series average. Notably, the level of positive sentiment at manufacturers fell to the lowest in close to four years.

The CNX Nifty is currently trading at 23948.85, down by 154.05 points or 0.64% after trading in a range of 23917.30 and 24135.50. There were 12 stocks advancing against 38 stocks declining on the index.

The top gainers on Nifty were Cipla up by 2.71%, Sun Pharma up by 1.22%, Dr. Reddy's Labs. up by 0.88%, Shriram Finance up by 0.62% and Apollo Hospital Ent. up by 0.37%. On the flip side, Infosys down by 2.99%, TCS down by 2.90%, Adani Enterprises down by 2.80%, Hindalco down by 2.62% and Tata Steel down by 2.40% were the top losers.

All Asian markets were trading lower; Jakarta Composite plunged 119.56 points or 1.95% to 5,997.13, KOSPI dropped 910.71 points or 11.1% to 8,203.84, Taiwan Weighted lost 640.86 points or 1.36% to 47,100.65, Hang Seng declined 459.52 points or 1.93% to 23,309.00, Nikkei 225 slipped 2093.96 points or 2.98% to 70,260.00, Straits Times fell 8.26 points or 0.16% to 5,195.75 and Shanghai Composite weakened 57.28 points or 1.38% to 4,105.82.
  RELATED NEWS >>
Most Viewed >>
EXPLORE
© CITRUS INTERACTIVE
Designed & Developed Accord Fintech Pvt. Ltd.