Sensex Falls 372 Points, Nifty Slips Below 24,000 As Auto, IT Stocks Drag Market
Indian stock markets ended lower on Monday, June 29, 2026, as selling pressure in auto, IT, and financial stocks pulled the benchmark indices down. The Sensex fell 372.10 points, while the Nifty slipped below the 24,000 mark amid cautious investor sentiment.
The BSE Sensex declined 0.48% to close at 76,728.37, while the NSE Nifty dropped 109.75 points, or 0.46%, to settle at 23,946.25. Weakness in heavyweight stocks and renewed concerns over geopolitical tensions in West Asia weighed on market mood.
Investor Wealth Drops By Over Rs 1 Lakh Crore
The fall in benchmark indices also led to a sharp erosion in investor wealth. The market capitalisation of BSE-listed companies declined by around Rs 1.08 lakh crore, reflecting broad pressure across several sectors.
Market sentiment remained cautious as investors tracked developments linked to Iran-US tensions and their possible impact on crude oil prices and global risk appetite.
Auto, IT And Financial Stocks Lead Losses
Auto stocks were among the biggest drags on the market. Mahindra & Mahindra, Maruti Suzuki, and InterGlobe Aviation were among the major losers. Heavyweights such as Reliance Industries, Hindustan Unilever, Infosys, State Bank of India, and Axis Bank also ended in the red.
Sector-wise, Nifty Auto fell more than 2%, while Nifty IT, Nifty Oil & Gas, Nifty Media, and Nifty Bank also closed lower. Profit booking after recent gains added to the pressure.
Pharma And Healthcare Stocks Offer Support
Despite the overall weakness, buying interest in defensive sectors helped limit deeper losses. Pharma, healthcare and metal stocks ended higher as investors moved towards relatively safer segments.
Bharat Electronics, Eternal, Trent, Power Grid, and NTPC were among the gainers. Nifty Pharma rose over 1%, while Nifty Healthcare and Nifty Metal also closed in positive territory.
Analysts See Caution In Near Term
Market analysts said the Nifty failed to sustain early gains and faced resistance near the 24,200 zone. The index may remain range-bound in the near term, with 23,800 seen as an important support level.
Investors are expected to closely track global cues, crude oil prices, West Asia developments, monsoon progress, and key economic data releases. Defensive sectors such as pharma, healthcare, and FMCG may remain in focus if uncertainty continues.
Market Outlook
The near-term market trend will likely depend on global risk sentiment, movement in crude oil prices, and macroeconomic data. While the broader outlook remains cautiously optimistic, volatility may continue until there is more clarity on geopolitical developments.
