Indian Markets Close Sharply Lower
The Nifty 50 closed at 24,005.95 on July 22, 2026, down 181.75 points or 0.75%, extending losses for a second consecutive session. The BSE Sensex tumbled 673.27 points to close at 76,796.84, weighed down by heavy selling across banking and technology counters.
| Index | Close | Change | % Change |
|---|---|---|---|
| Nifty 50 | 24,005.95 | -181.75 | -0.75% |
| BSE Sensex | 76,796.84 | -673.27 | -0.87% |
Sectoral Drubbing Led by Banks and IT
Banking stocks bore the brunt of the selloff, with Nifty Bank plunging 705.80 points to close at 57,129.55, down 1.2%. The technology sector mirrored the weakness, as Nifty IT shed 422.45 points to finish at 28,561.95, dragged lower by broad-based profit booking.
The session was marked by risk aversion across sectors, with only pharmaceuticals and biotechnology showing relative resilience. Auto and telecom sectors also witnessed selling pressure, contributing to the benchmark's slide below the psychologically important 24,050 level.
GIFT NIFTY Tracks Domestic Weakness
GIFT NIFTY ended Session I at 23,975.50, down 128.0 points or 0.53% from the previous close of 24,103.50, tracking the weakness in the domestic cash market. The offshore derivative opened at 24,125.50 and tested an intraday high of 24,131.50 in early trade before sliding to a low of 23,926.0 amid sustained selling pressure.
| Parameter | Level |
|---|---|
| Open | 24,125.50 |
| High | 24,131.50 |
| Low | 23,926.0 |
| LTP | 23,975.50 |
| Change | -128.0 (-0.53%) |
The offshore index traded in a 205.50-point range through the session, witnessing sharp volatility during the midday period before stabilizing in afternoon trade. GIFT NIFTY lagged the cash market decline in percentage terms, closing 30.45 points below the spot Nifty 50.
Session II Outlook
GIFT NIFTY heads into Session II at 23,975.50, with attention likely to remain on global cues and any fresh domestic developments ahead of Thursday's opening bell.