Sensex Ended Lower, Falling 1677 Points
Gaurav Garg,
Research Analyst
Lemonn Markets Desk
Mumbai, July 8, 2026: The Indian stock market closed on a cautious note today, with the Nifty 50 settling at 23882.05 lower by -516.65 points or -2.11%. The session was characterized by the RISING WEDGE ,as the index opened at 24259.55, reached a high of 24300, and touched a low of 23805.2. The Sensex also ended lower, falling -1677.11 points, to close at a weaker level.
Sectoral trends were broadly negative during the session, with Information Technology (IT) emerging as the top-performing sector despite ending lower, followed by Healthcare, Nifty 500 Healthcare, Metals, Pharma, and REITs, reflecting relative resilience amid the broader market weakness. On the other hand, PSU Banks was the worst-performing sector, witnessing the sharpest decline, followed by Chemicals, Cement, Private Banks, Banking, FMCG, Financial Services 25/50, Financial Services, Media, Auto, Oil & Gas, Realty, MS Financial Services, MS IT Telecom, Midcap Select, and Consumer Durables, indicating broad-based selling pressure across financials, consumption, industrial, and cyclical sectors as investors remained risk-averse throughout the session.
Investor sentiment turned sharply cautious during today's session as renewed geopolitical tensions resurfaced after U.S. President Donald Trump stated at the NATO Summit that the ceasefire understanding with Iran was effectively over, reviving concerns over a potential escalation in the Middle East. The heightened uncertainty triggered a sharp rise in crude oil prices, fueling fears of higher inflation, increased import costs for India, and continued pressure on the Indian rupee. Weak global cues, coupled with broad-based profit booking following the recent market rally, further dampened risk appetite, leading to widespread selling across banking, auto, FMCG, aviation, paints, and oil marketing stocks. However, upstream oil producers outperformed the broader market, supported by expectations of stronger earnings amid elevated crude oil prices.
