Pre-Market Brief: Nifty 50 Dips Below 24050 as IT Majors See Sharp Sell-Off | 22 Jun 2026, 08:00 AM IST
By Sivam
The Nifty 50 closed at 24013.10, down 0.64%, primarily driven by significant declines in IT and banking heavyweights. Traders watch for potential follow-through selling in these sectors at the 9:15 AM open.
The Nifty 50 experienced a notable decline on Friday, closing at 24013.10, down 0.64% or 155 points. This downturn was largely concentrated, with major IT companies and HDFC Bank witnessing significant selling pressure. Infosys led the declines among Nifty 50 constituents, falling 6.75%, while TCS dropped 3.55%. HDFC Bank also contributed to the index’s fall, closing 2.40% lower.
| Index | Close | Change (%) |
|---|---|---|
| Nifty Bank | 57685.75 | −0.48% |
| NIFTY Midcap 100 | 62517.30 | +0.22% |
| Nifty 50 | 24013.10 | −0.64% |
Despite the Nifty 50’s overall decline, market breadth remained nearly balanced, with 26 advances and 24 declines. This indicates that the selling was specific to certain heavyweights rather than broad-based. The NIFTY Midcap 100, in contrast, showed resilience, posting a gain of 0.22%, closing at 62517.30, suggesting continued interest in broader market segments.
Sector Performance and Top Movers
The IT sector was clearly under pressure, as evidenced by the top losers list. Beyond Infosys and TCS, Tech Mahindra fell 2.63% and HCL Technologies declined 2.59%. The financial sector also saw weakness, with HDFC Bank’s significant drop impacting the Nifty Bank index, which closed 0.48% lower at 57685.75. While specific sector data was limited, the overall trend pointed to weakness in key large-cap segments.
Conversely, several stocks managed to post gains. Eternal Ltd. was the top gainer, up 2.22%. Other notable gainers included Bharti Airtel (+1.92%), Power Grid Corporation (+1.23%), NTPC (+1.06%), and Nestle India (+1.03%), indicating some defensive buying or sector-specific strength.
FII and DII Flows
Foreign Institutional Investors (FIIs) were net buyers in the last trading session (June 19, 2026), injecting ₹4859.07 crore into the market. This marks a shift, as FIIs had been net sellers in two of the preceding four sessions. Domestic Institutional Investors (DIIs), however, were net sellers on June 19, offloading ₹1159.64 crore. Over the past five sessions, FII activity has been mixed, while DIIs have largely been net buyers, with the exception of the most recent session.
What to Watch at 9:15
As markets open today, traders will closely monitor the continuation of the selling pressure observed in IT majors and HDFC Bank. The Nifty 50’s ability to hold above the 24000 mark will be a key technical level. The divergent performance between large-cap indices and the NIFTY Midcap 100 suggests a selective market, where stock-specific movements may continue to dominate. The interplay of FII buying and DII selling will also be a factor to watch.
The market opens with a focus on whether the IT and banking sectors can find support after Friday’s sharp declines.