Market Update: Sensex plunges over 750 points; Nifty slips below 24,000; sell-off in IT stocks

June 19, 2026

After Thursday’s gains, the Indian stock market got off to a very poor start on Friday. Heavy selling was witnessed right at the opening bell, causing the Sensex and Nifty to plummet sharply. However, analysts remain hopeful of a market recovery ahead, driven by expectations of a US-Iran agreement and the rupee strengthening against the dollar. Let us understand in simple terms what happened in the market today and what the signals are for investors going forward.

How severe was the stock market’s initial drop?
Disappointment gripped investors as soon as the market opened. Following a five-day rally, benchmark indices—Sensex and Nifty—fell in early trade due to heavy selling in IT companies. This downturn followed Accenture’s downward revision of its revenue growth forecast.

In early trade, the 30-share BSE Sensex dropped 786.58 points to 76,624.90, while the 50-share NSE Nifty fell 210.95 points to 23,959.80.

Which sector dragged the market down the most during this steep decline?
The Information Technology (IT) sector played the biggest role in this market turmoil. According to available data, the IT index recorded a massive 6% drop, severely dampening overall market sentiment.

Among the 30 Sensex-listed companies, Infosys shares fell over 8%, Tata Consultancy Services (TCS) shares slid 6%, Tech Mahindra shares dropped 5%, and HCL Tech shares fell 4.9%. HDFC Bank and Tata Steel were also among the decliners, while NTPC, Bharti Airtel, Trent, and Power Grid were among the gainers. The BSE IT index fell by 5.38%.