The Indian stock market commenced trading on Tuesday, June 23, 2026, with key indices Sensex and Nifty opening in negative territory. This decline came amidst varied signals from global markets, impacting investor sentiment domestically.
The BSE Sensex registered a dip of 66 points, settling at 77,027 in early deals. Concurrently, the NSE Nifty 50 index also saw a decline, slipping 18 points to open at 24,027. This marks a cautious start to the trading day following a positive close in the previous session.
IT Sector Sees Significant Declines
Technology stocks were notably hit in early trading, with several major IT firms featuring among the top Sensex losers. Shares of Infosys, HCL Tech, TCS, Tata Steel, and Tech Mahindra experienced falls of up to 2.38%, contributing significantly to the overall market downturn.
Conversely, some stocks managed to buck the trend and posted gains. Top Sensex gainers included Trent, Sun Pharma, Bajaj Finserv, Adani Ports, PowerGrid, and SBI, with their shares rising by up to 1.47% during the initial hours of trading.
Analysts Offer Market Outlook
Market experts provided insights into potential trading strategies and key levels for investors.
Shrikant Chouhan, Head Equity Research at Kotak Securities, advised day traders to watch 24,200/77,500 as immediate resistance areas. He noted that support could be found between 23,900-23,800/76,500-76,200. Chouhan suggested a level-based trading strategy, anticipating a rally towards 24,325-24,350/77,800-78,000 if resistance is breached, or a gradual correction if support fails.
Rajesh Palviya, Head of Research at Axis Direct, identified the 24,150-24,200 range as an immediate hurdle for the Nifty. A decisive breakout above this zone could trigger fresh short covering and potentially lead the index towards 24,400. Palviya cautioned that a breach below 24,000 might weaken momentum, pushing the index towards 23,900-23,800. He maintained a strategy of "buy on dips" as long as the Nifty holds above the 24,000 mark.
Previous Session's Performance
In the preceding trading session, both major indices had closed positively. The Sensex had climbed 291.17 points (0.38%) to finish at 77,094.07, while the NSE Nifty50 index advanced 89.80 points (0.37%) to settle at 24,102.90.