Indian equities retreat as IT drags, Nifty drops 0.36% to 23,329
Indian equity benchmarks closed lower on Tuesday, with the Nifty 50 falling 85.30 points (0.36%) to 23,329 and the Sensex declining 329.91 points (0.44%) to 74,529, as profit-taking and caution ahead of the weekly…
Source: APAC News Network · The Hindu BusinessLine · CNBCTV18 · September 22, 2026 at 12:32 PM · AI-assisted report
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KUALA LUMPUR, 22 SEPTEMBER 2026 —
Indian equity benchmarks closed lower on Tuesday, with the Nifty 50 falling 85.30 points (0.36%) to 23,329 and the Sensex declining 329.91 points (0.44%) to 74,529, as profit-taking and caution ahead of the weekly derivatives expiry dampened sentiment.
Market Impact
The decline—following a 560-point (0.8%) rally in the prior session—reflects broader regional market weakness, though Malaysian investors may track spillover effects on Asian equities, particularly in tech-heavy sectors where Indian IT stocks influence regional trends. The Nifty IT index led declines amid concerns over demand conditions and earnings outlooks, according to APAC Media.
Among individual stocks, Bajaj Finserv, Trent, Bajaj Finance, Sun Pharmaceutical Industries, and Tata Consultancy Services were notable losers, while Coal India surged 3.1% after a Morgan Stanley upgrade and IndiGo rose 1.2% on domestic demand signals. Banking and mid-cap stocks also faced selling pressure, with sectoral indices closing in negative territory.
Global crude prices eased slightly amid reports of potential developments in the Strait of Hormuz, providing marginal relief to oil-importing economies like India. The Indian rupee strengthened to ₹95.59 against the US dollar, though geopolitical risks—including US-Iran tensions—kept investor sentiment fragile. Markets are expected to remain volatile ahead of upcoming economic data and Federal Reserve policy signals, with domestic equities remaining exposed to global risk flows.