Indian equity benchmarks extended their losing streak on Monday, June 23, amid renewed geopolitical jitters and a selloff in information technology stocks. The Sensex fell 511.38 points to close at 81,896.79, while the Nifty50 slipped 140.50 points, settling below the key 25,000 mark at 24,971.90.

Investor sentiment was rattled after reports of a U.S. airstrike on Iranian nuclear sites emerged over the weekend, triggering a jump in global crude oil prices. This development disrupted expectations of a de-escalation in the Israel-Iran conflict, which had supported markets late last week.

Vinod Nair, Head of Research at Geojit Financial Services, said the market was initially positioned for a diplomatic window after the U.S. hinted at a two-week cooling-off period. “However, the unexpected U.S. strike reignited tensions, leading to a spike in oil and consolidation in equities,” he explained.
He added that fears of immediate oil supply disruptions remained muted, which helped limit the downside as provided support.

The biggest drag on the session came from the , which saw renewed pressure after in its Q3 results. led the fall as investor concerns over global tech spending resurfaced.

Among the Nifty50 constituents, top gainers included . On the other hand, were the top losers.

On the sectoral front, IT, auto, FMCG, and banking stocks slipped 0.5–1.5 per cent, while media, metal, and capital goods sectors gained between 0.5–4 per cent, thanks to selective buying.

The BSE Midcap index ended higher by 0.2 per cent, and the Smallcap index advanced 0.6 per cent, indicating resilience in broader markets despite largecap volatility.

With volatility expected to persist amid global uncertainties, analysts advise staying cautious in rate-sensitive and export-linked sectors. The near-term focus will remain on global cues, crude movement, and upcoming macro data.