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EQUITY
Post Session: Quick Review
Jun-23-2026

A wave of heavy selling engulfed Indian equity markets on Tuesday, driving Sensex and Nifty down by more than 1% each. After a negative start, markets remained flat during the first half of the session, but witnessed a sharp fall in the second half and finally ended near day’s low points.

Some of the important factors in trade:

Eight key infrastructure sectors’ output growth slows to 7-month low of 0.5% in May: Traders got concerned after the Ministry of Commerce & Industry in its data has showed that eight key infrastructure sectors’ output growth slowed to a seven-month low of 0.5 per cent in May 2026 due to a fall in output of coal, crude oil and refinery products.  

June sees softer growth in India’s private sector: Adding more worries, 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. The HSBC Flash India PMI Composite Output Index fell down to 57.4 in June from a final reading of 59.3 in May.

Chinese tech, investments welcome, but trade opening needs caution: Some anxiety came with newly appointed CII President R Mukundan’s statement that Chinese investments and technology are welcome in India, but the country should adopt a careful and measured approach towards opening trade with Beijing.

Weak global cues: European markets were trading lower, while Asian markets ended mostly in red, 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 ended at 76200.68, down by 893.39 points or 1.16% after trading in a range of 76082.51 and 77194.83. There were 2 stocks advancing against 28 stocks declining on the index. (Provisional)

The only gaining sectoral index on the BSE was Healthcare up by 0.62%, while Metal down by 3.00%, IT down by 2.24%, TECK down by 1.95%, Basic Materials down by 1.90% and Telecom down by 1.88% were the top losing indices on BSE. (Provisional)

The only gainers on the Sensex were Power Grid up by 0.95% and Maruti Suzuki up by 0.07%. On the flip side, Infosys down by 3.37%, TCS down by 3.16%, Tata Steel down by 2.99%, Bharat Electronics down by 2.56% and Adani Ports & SEZ down by 2.22% were the top losers. (Provisional)

Meanwhile, an article titled State of the Economy published in the Reserve Bank of India’s (RBI’s) June Bulletin has stated that an adverse south-west monsoon could pose headwinds to the domestic growth and inflation outlook, even as the global economic landscape remains fragile. It also noted that geopolitical tensions and trade disruptions persisted despite the recent interim peace deal in West Asia.

The article observed that the global economic environment remains fragile, even after some respite from the interim US-Iran peace agreement. It further noted that ‘any breakdown of the agreement may reignite material risks in terms of inflation expectations, disruption of critical energy infrastructure, delayed investment spending, food security concerns, an adverse financial stability outlook, and structurally lower growth.’

Despite a challenging global backdrop, the Indian economy grew by 7.8 per cent in Q4 2025-26, supported by private consumption and fixed investment. It said high-frequency indicators for the first two months of 2026-27 suggest sustained economic momentum. Consumer Price Index (CPI) inflation remained anchored despite a pickup in May. India’s external sector also remained resilient, supported by strong FDI inflows and adequate foreign exchange reserves.

The article further noted that the Indian economy entered this period of turbulence with stronger fundamentals than many other economies, enabling it to better absorb external shocks. Meanwhile, the central banks said the views expressed in the Bulletin article are those of the authors and do not represent the views of the Reserve Bank of India.

The CNX Nifty ended at 23824.10, down by 278.80 points or 1.16% after trading in a range of 23784.95 and 24135.50. There were 9 stocks advancing against 41 stocks declining on the index. (Provisional)

The top gainers on Nifty were Cipla up by 1.23%, Dr. Reddy's up by 0.82%, Power Grid up by 0.76%, Axis Bank up by 0.36% and Apollo Hospital up by 0.22%. On the flip side, Infosys down by 3.39%, TCS down by 3.21%, Adani Enterprises down by 3.16%, Wipro down by 3.16% and JSW Steel down by 3.13% were the top losers. (Provisional)

European markets were trading lower; UK’s FTSE 100 decreased 26.34 points or 0.25% to 10,411.51, France’s CAC fell 45.21 points or 0.54% to 8,354.90 and Germany’s DAX lost 223.29 points or 0.89% to 24,916.40.

Asian markets settled mostly lower on Tuesday, triggered by a global unwind of the artificial intelligence and technology rally coupled with hawkish US Federal Reserve interest rate expectations. Asian markets’ massive sell-off was also led by South Korea's Kospi index, which plunged nearly 10% and triggered multiple circuit breakers. Investors also looked ahead to key inflation data due to be released on Thursday and weighed the latest developments in the US-Iran war negotiations. US Vice President JD Vance said Tehran had agreed to admit nuclear monitors into the country. But Iran denied making any new commitments. US President Donald Trump said preventing Iran from having a nuclear weapon outweighs the potential economic consequences of a prolonged war.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

4,106.25

-56.85

-1.37

Hang Seng

23,336.28

-432.24

-1.82

Jakarta Composite

6,101.33

-15.36

-0.25

KLSE Composite

1,679.92

-20.92

-1.23

Nikkei 225

69,788.38

-2,565.58

-3.55

Straits Times

5,205.74

1.73

0.03

KOSPI Composite

8,203.84

-910.71

-9.99

Taiwan Weighted

47,100.65

-640.86

-1.34
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