Markets Update: Sensex Cracks 770 Points, Nifty Slips Below 24,000 As Banking, Realty Stocks Drag

Last Updated:July 22, 2026, 12:38 IST

At 12:30 pm, the BSE Sensex was down 768.28 points, or 0.99%, at 76,701.83, while the NSE Nifty fell 214.70 points, or 0.89%, to 23,973, with the day’s low at 23,968.55.

Stock Market Today.

Stock Markets Today, July 22: Indian equity benchmarks remained firmly under pressure in afternoon trade on Wednesday, with the Sensex tumbling nearly 770 points and the Nifty slipping below the crucial 24,000 mark. Broad-based selling across banking, financial, realty and IT stocks overshadowed gains in select FMCG and auto counters, while elevated crude oil prices and geopolitical tensions continued to weigh on investor sentiment.

At 12:30 pm, the BSE Sensex was down 768.28 points, or 0.99%, at 76,701.83, while the NSE Nifty fell 214.70 points, or 0.89%, to 23,973, with the day’s low at 23,968.55.

Financials, realty remain under heavy selling pressure

Financial stocks extended their decline, emerging as the biggest drag on the market. The Nifty Financial Services index dropped 1.45%, while the Nifty Bank index fell 1.38%. The Nifty Private Bank index declined 1.54%, and the Nifty PSU Bank index tumbled 2.03%.

Real estate stocks witnessed the sharpest sectoral correction, with the Nifty Realty index plunging 2.83%.

Technology stocks also remained under pressure, with the Nifty IT index falling 1.18%, while the Nifty Media index slipped 1.42% and the Nifty Chemicals index declined 1.26%.

Pharmaceutical shares continued to trade weak following concerns over the US tariff roadmap for generic medicines. The Nifty Pharma index was down 1.52%, while the Nifty Healthcare index declined 1.34%.

Auto stocks continued to outperform the broader market. The Nifty Auto index rose 0.31%, while the Nifty FMCG index also traded in positive territory, gaining 0.20%.

Broader markets underperform benchmarks

Selling pressure remained widespread across the broader market. The Nifty Midcap 100 index fell 1.06%, while the Nifty Smallcap 100 declined 1.41%. The Nifty MidSmallCap 400 index also slipped 1.10%, indicating broad-based weakness beyond large-cap stocks.

India VIX climbs 4.9%

Meanwhile, India VIX climbed 4.86% to 13.21, reflecting heightened market volatility.

Top movers

Among Sensex constituents, Titan gained 0.53%, Hindustan Unilever advanced 0.49%, and Power Grid added 0.14%, making them the only notable gainers.

On the losing side, IndiGo plunged 3.50%, while SBI declined 2.20%, Infosys fell 1.96%, Axis Bank dropped 1.70%, ICICI Bank lost 1.50%, Kotak Mahindra Bank slipped 1.49%, Sun Pharma and HDFC Bank each fell 1.35%, Tech Mahindra declined 1.13%, Bajaj Finance lost 1.12%, Reliance Industries slipped 1.06%, UltraTech Cement fell 0.99%, Tata Steel and Adani Ports each declined 0.83%, while Maruti Suzuki, Eternal, Larsen & Toubro, HCLTech, TCS and ITC also traded in the red.

Global cues remain positive, but crude caps sentiment

Asian markets traded higher after Wall Street rebounded overnight, with investors taking comfort from gains in technology stocks despite escalating geopolitical tensions in the Middle East.

However, elevated crude oil prices continued to temper risk appetite. Brent crude hovered around $91.5 per barrel, supported by concerns over supply disruptions following Houthi threats against shipping in the Red Sea.

Global markets

Asian markets traded firmly higher after Wall Street rebounded overnight despite geopolitical concerns and elevated oil prices. South Korea’s Kospi surged more than 6%, Japan’s Nikkei 225 advanced about 1.9%, while MSCI’s broadest index of Asia-Pacific shares outside Japan gained 1.2%.

US stocks recovered overnight, with the S&P 500 rising 0.9% as semiconductor shares rebounded on strong export data from South Korea and better-than-expected Taiwanese export orders.

Brent crude remained elevated at around $91.55 per barrel, up 0.6%, after Houthi threats in the Red Sea intensified supply concerns.

Expert view

V K Vijayakumar, chief investment strategist at Geojit Investments, said the continuing US-Iran conflict and rising Brent crude prices are likely to weigh on markets despite positive domestic developments.

“The early automobile Q1 numbers are impressive and management commentary reflects optimism. Exports, too, are doing well. The price correction in some of the leading banking names appears to be over. There is value in this segment,” he said.

He added that the rupee is expected to remain stable, supported by strong FCNR deposit inflows exceeding $20 billion, while weakening momentum in other Asian markets has made India relatively attractive from a valuation perspective.

According to Vijayakumar, foreign portfolio investors are no longer aggressive sellers and have been turning buyers on some trading sessions. “Dips in the market will provide buying opportunities in fundamentally sound stocks. The outperformance of the broader market may continue in the near term,” he said.

About the Author

Mohammad HarisDeputy News Editor (Business)

Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalis…Read More

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