Stories
Nifty Hits 18-Month Low As Bears Target 22000 Mark
M
Moneycontrol•08-10-2026, 16:58
Nifty Hits 18-Month Low As Bears Target 22000 Mark
- •The Nifty 50 dropped 1.6 percent to record its lowest closing level in 18 months, driven by intense selling pressure.
- •The India VIX surged above 15 to reach a four-month high, signaling heightened market fear and discomfort among bulls.
- •Market sentiment was further weighed down by rising crude oil prices, a weakening rupee, and continuous FII selling.
- •Experts warn that a sustained drop below the psychological 22,000 mark could trigger panic selling with support at 21,700.
- •Bank Nifty also faced downward pressure, with analysts noting that a break below 54,000 could lead towards the September low.
Key Questions Answered
The Nifty 50 nosedived over 1.6 percent to an 18-month closing low due to sharp selling pressure following the RBI policy meeting, Brent crude oil prices sustaining above $100 a barrel, a weakening rupee, and continued FII selling.
Experts note that immediate resistance stands at 22,400 followed by 22,600, while downside support is placed at the psychological 22,000 mark and 21,700 corresponding to the April 2025 low.
The India VIX surged 10.01 percent to reach 15.27, marking its highest closing level since June 11, 2026, and signaling growing discomfort among market bulls.
