Sensex falls 383 points, Nifty settles at 23,779; IT, metals among top drags
Among the major Sensex laggards were Infosys Ltd, Reliance Industries Ltd (RIL), State Bank of India (SBI), Tata Consultancy Services Ltd (TCS), Tata Steel Ltd, Eternal Ltd, UltraTech Cement Ltd and Kotak Mahindra Bank Ltd.
- Sep 7, 2026,
- Updated Sep 7, 2026 4:38 PM IST
Indian equity benchmarks resumed their decline on Monday after a single-session pause, with selling pressure seen across IT, metals, realty and banking stocks. The 30-share BSE Sensex pack fell 382.62 points or 0.50 per cent to settle at 76,132.81, while the NSE Nifty50 index declined 118.55 points or 0.50 per cent to close at 23,779.15.
Among the major Sensex laggards were Infosys Ltd, Reliance Industries Ltd (RIL), State Bank of India (SBI), Tata Consultancy Services Ltd (TCS), Tata Steel Ltd, Eternal Ltd, UltraTech Cement Ltd and Kotak Mahindra Bank Ltd.
"Markets remained in negative territory through the session led by selling in IT, metals, realty and banking stocks. Despite mixed Asian market cues, local investors reduced their equity exposure due to worries about a fresh escalation in US-Iran conflict. Elevated US bond yields have once again fuelled foreign fund outflows from domestic equities, which is also weighing on the sentiment," said Ankur Punj, Managing Director, Equirus Wealth.
Vinod Nair, Head of Research at Geojit Investments, said domestic benchmark indices and large-cap stocks remained influenced by developments in the Strait of Hormuz. He noted that the broader market showed a divergence, with small-caps and select mid-caps gaining on stronger earnings.
"Value buying has gained traction following the late-2025 and early-2026 sell-off, making valuations attractive as corporate earnings shifts from downgrades to upgrades," Nair said.
However, Nair cautioned that the broader market rally is becoming stretched, leaving equities exposed to supply-chain disruptions and weaker high-frequency macroeconomic indicators. He added that higher input costs had limited impact on corporate earnings in the first quarter amid stronger consumer demand and tax reduction gains, but said these supportive factors could potentially fade going forward.
Hariselvan Radhakrishnan, Founder & CEO of HST Wealth, said Indian equities ended lower despite a rebound in most Asian markets, with rising crude prices amid the escalating US-Iran conflict and renewed concerns over US interest rates weighing on sentiment.
India VIX, fear index, rose 5.62 per cent during the session, indicating increased market volatility.
Nifty outlook
Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, said the underlying trend of the Nifty remained negative with lacklustre movement.
"Having moved below the immediate support of 23,800, Nifty is expected to slide down to the next lower support of 23,600 (previous opening upside gap of June 15) in the near term. Immediate resistance is placed at 24,000 levels," Shetti said.
Indian equity benchmarks resumed their decline on Monday after a single-session pause, with selling pressure seen across IT, metals, realty and banking stocks. The 30-share BSE Sensex pack fell 382.62 points or 0.50 per cent to settle at 76,132.81, while the NSE Nifty50 index declined 118.55 points or 0.50 per cent to close at 23,779.15.
Among the major Sensex laggards were Infosys Ltd, Reliance Industries Ltd (RIL), State Bank of India (SBI), Tata Consultancy Services Ltd (TCS), Tata Steel Ltd, Eternal Ltd, UltraTech Cement Ltd and Kotak Mahindra Bank Ltd.
"Markets remained in negative territory through the session led by selling in IT, metals, realty and banking stocks. Despite mixed Asian market cues, local investors reduced their equity exposure due to worries about a fresh escalation in US-Iran conflict. Elevated US bond yields have once again fuelled foreign fund outflows from domestic equities, which is also weighing on the sentiment," said Ankur Punj, Managing Director, Equirus Wealth.
Vinod Nair, Head of Research at Geojit Investments, said domestic benchmark indices and large-cap stocks remained influenced by developments in the Strait of Hormuz. He noted that the broader market showed a divergence, with small-caps and select mid-caps gaining on stronger earnings.
"Value buying has gained traction following the late-2025 and early-2026 sell-off, making valuations attractive as corporate earnings shifts from downgrades to upgrades," Nair said.
However, Nair cautioned that the broader market rally is becoming stretched, leaving equities exposed to supply-chain disruptions and weaker high-frequency macroeconomic indicators. He added that higher input costs had limited impact on corporate earnings in the first quarter amid stronger consumer demand and tax reduction gains, but said these supportive factors could potentially fade going forward.
Hariselvan Radhakrishnan, Founder & CEO of HST Wealth, said Indian equities ended lower despite a rebound in most Asian markets, with rising crude prices amid the escalating US-Iran conflict and renewed concerns over US interest rates weighing on sentiment.
India VIX, fear index, rose 5.62 per cent during the session, indicating increased market volatility.
Nifty outlook
Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, said the underlying trend of the Nifty remained negative with lacklustre movement.
"Having moved below the immediate support of 23,800, Nifty is expected to slide down to the next lower support of 23,600 (previous opening upside gap of June 15) in the near term. Immediate resistance is placed at 24,000 levels," Shetti said.