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Sensex Dips 400 Pts from Day's High, Nifty Near 23,350 Amid IT Sell-Off
M
Moneycontrol•22-09-2026, 11:00
Sensex Dips 400 Pts from Day's High, Nifty Near 23,350 Amid IT Sell-Off
- •Indian benchmark indices Sensex and Nifty traded lower on Tuesday, paring early gains due to sharp selling pressure in IT shares.
- •The Sensex fell 186.80 points (0.25%) to 74,672.19, while the Nifty declined 46.80 points (0.2%) to 23,367.50.
- •Key factors contributing to the market decline include a 1.5% drop in the IT index, rising Brent crude oil prices (up 0.8% to USD 101.1 per barrel), and Foreign Institutional Investor (FII) selling worth Rs 576.20 crore on Monday.
- •Profit booking emerged at higher levels after an early sharp rise, with investors cashing in gains following previous sessions' uptrends.
- •All major Nifty sectoral indices declined except Metal and Realty, while Nifty Smallcap 100 fell 0.13% and Nifty Midcap 100 remained flat.
Key Questions Answered
The market decline was driven by sharp selling in IT shares due to subdued demand and cautious management commentary, a rise in global crude oil prices, FII equity offloading, and profit booking at higher levels after an early sharp rise.
Foreign Institutional Investors contributed to the downward market pressure by offloading equities worth Rs 576.20 crore on Monday.
Brent crude traded 0.8 percent higher at USD 101.1 per barrel, which weighed on Indian markets by increasing the country's import bill and putting pressure on corporate costs and profit margins.
