Mumbai, September 24, 2026 (Yes Punjab News)
Indian equity benchmark indices witnessed a sharp selloff on Thursday, with the Sensex plunging 1,247.71 points and the Nifty declining below the 23,100 mark as firm crude oil prices and a global bond market rout triggered risk-off sentiment among investors.
The Sensex fell 1,247.71 points, or 1.67 per cent, to close at 73,580.54, while the Nifty declined 383.70 points, or 1.64 per cent, to settle at 23,063.10.
Banking and financial stocks bore the brunt of the selling pressure as rising bond yields and global uncertainty weighed on investor sentiment.
Market experts said a sustained close below the 23,000 level could extend the Nifty’s downside towards the 22,900–22,800 zone, while 23,200 could act as an immediate resistance level during recovery attempts.
“Momentum indicators remain weak, with the RSI around 31, reflecting strong negative momentum and approaching oversold territory. The MACD remains deeply in negative territory, confirming continued weakness,” market watchers said.
On the options front, analysts noted that Call Open Interest (OI) stood at around 23.84 crore compared with Put OI of around 17.23 crore. Significant Call OI was seen around the 23,200 and 23,500 levels, while Put OI was concentrated around the 23,000 zone.
Selling pressure extended to broader markets as well. The Nifty MidCap index ended 2.25 per cent lower, while the Nifty SmallCap index declined 1.53 per cent.
Among Nifty constituents, only three stocks managed to end the session in positive territory. Bajaj Finance, HDFC Life Insurance Company and Axis Bank were among the biggest laggards and contributed significantly to the benchmark indices’ decline.
Financial stocks were particularly affected, with the Nifty Financial Services, Nifty Bank and Nifty Private Bank indices among the worst-performing sectoral gauges.
Defensive sectors also ended lower, although their losses were comparatively smaller. The Nifty Media and Nifty Pharma indices showed greater resilience than the broader market.
Market experts said investors remained cautious amid concerns over elevated crude oil prices and a global bond selloff. The combination of these factors intensified risk aversion and prompted investors to reduce their exposure to equities.
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