Indian equity markets experienced a significant downturn on Wednesday, April 22, 2026, as both the BSE Sensex and NSE Nifty snapped their impressive three-day winning streak. The decline was largely attributed to intense selling pressure, particularly within the information technology (IT) sector.
At the close of trading, the 30-share Sensex plummeted 756.84 points, or 0.95 percent, settling at 78,516.49. Similarly, the broader Nifty 50 index slipped 198.50 points, an 0.81 percent drop, to conclude the session at 24,378.10.
IT Sector Leads the Decline
The IT sector bore the brunt of the selling, with the BSE IT index plunging 3.66 percent to close at 29,511.62. This sharp fall was a primary factor in dragging the overall market indices lower. Analysts noted that the broader market sentiment might have been influenced by the extension of the US-Iran ceasefire, though the direct impact on IT stocks was more pronounced.
Major Losers and Contributors to the Fall
- HCL Technologies emerged as the top loser among Sensex constituents, dropping a steep 10.76% to Rs 1286.50.
- Infosys followed with a 3.32% decline.
- Other significant contributors to the Sensex's fall included Mahindra & Mahindra (M&M), down 2.95%, Tata Consultancy Services (TCS), which slipped 2.83%, and Tech Mahindra, falling 2.42%.
- HDFC Bank also saw a notable decline of 1.50%.
Collectively, HDFC Bank, HCL Tech, Infosys, ICICI Bank, and M&M were identified as the five stocks that contributed most significantly to the Sensex's overall fall.
Sectoral Performance and Gainers
While the IT sector faced headwinds, the BSE Bankex index edged down a more modest 0.39% to close at 64,407.85. In contrast to the widespread selling, a few stocks managed to post gains on the 30-pack index:
- Hindustan Unilever (HUL)
- NTPC
- Eternal
These gainers rose by up to 2.56%, providing some limited counterweight to the broader market's negative momentum.