Stock Market Closing Bell: Sensex Drops 715 Points as Nifty Closes Below 24,000 Mark
Indian benchmark equity indices extended losses for the third consecutive session on Wednesday, July 22, 2026, with the Nifty 50 slipping below the crucial 24,000 mark. The BSE Sensex plunged 715.06 points, or 0.92%, to close at 76,755.05, while the NSE Nifty 50 dropped 191.45 points, or 0.79%, to settle at 23,996.25.
- Republic Business
- 3 min read
Indian equity benchmarks tumbled for a third straight session on Wednesday, with the headline Nifty 50 breaching the psychological 24,000 mark at the close as geopolitical conflicts in West Asia and fresh US tariff proposals dragged down investor sentiment.
Benchmarks Extend Losses for Third Straight Day
The BSE Sensex ended 715.06 points, or 0.92%, lower at 76,755.05 after volatile trading throughout the day. Meanwhile, the broader NSE Nifty 50 index slipped 191.45 points, or 0.79%, to settle at 23,996.25. The Nifty had opened the session at 24,150.45 and touched an intraday high of 24,166.30 before persistent selling pressure wiped out gains.
Broader markets also registered steep declines, with mid-cap and small-cap indices falling over 1%, reflecting widespread risk aversion across domestic equities.
Heavy selling in aviation, banking, IT, and pharmaceutical counters dragged the benchmarks lower during the session. Among the major index laggards, InterGlobe Aviation (IndiGo) plunged 3.40% to ₹5,130.50 per share as surging global crude oil prices heightened operational cost concerns. Financial heavyweights also exerted severe downward pressure, led by State Bank of India (SBI), which fell 2.07% to ₹1,024.30, and Infosys, which dropped 2.38% to ₹1,057.50. Other notable drag factors included Jio Financial Services, tumbling 2.19% to ₹236.40, and Kotak Mahindra Bank, losing 1.37% to ₹380.65. Healthcare stocks like Dr. Reddy’s Laboratories also suffered, sliding 1.63% to ₹1,188.80 following tariff-related headlines in overseas markets.
However, auto and consumer goods sectors didn’t follow the negative trend to provide support to the indices. Bajaj Auto emerged as the top gainer, surging 5.37%, following strong Q1 earnings and commentary. FMCG major Nestlé India gained 2.38% after reporting a 48% jump in its quarterly net profit. Other key index gainers included Tata Consumer Products, Oil & Natural Gas Corporation (ONGC), and Power Grid Corporation of India.
Sectoral performance remained low, with high-beta sectors witnessing intense profit-taking. The Nifty Media and Nifty Realty indices took the sharpest hit, tumbling over 2.6% each, while Nifty PSU Bank slipped 1.95% and Nifty IT dropped 1.45%.
Crude Oil Volatility, US Tariffs
The sell-off was attributed to adverse global and domestic macro factors. Crude oil prices advanced past $91 per barrel following renewed military strikes between the US and Iran in West Asia, intensifying worries over India’s import bill and inflation trajectory.
Compounding the pressure, sentiment in the pharmaceutical sector turned negative after US President Donald Trump announced plans for progressive tariffs on imported generic drugs, triggering a broad pullback in heavyweight pharma names.
FII Selling
Continued foreign institutional investor (FII) selling contributed further to the index downturn, with financial and technology stocks bearing a substantial share of the decline. The elevated US bond yields and a firming greenback continue to spur capital outflows from emerging market assets, keeping domestic equities under short-term pressure.
Published By : Shourya Jha
Published On: 22 July 2026 at 16:14 IST