Mumbai, India — April 22, 2026
Indian equity markets ended sharply lower on Wednesday, snapping a three-day winning streak as investor sentiment weakened due to foreign fund outflows and rising geopolitical tensions in West Asia.
The benchmark BSE Sensex plunged 756.84 points to close at 78,516.49, after falling as much as 831 points during intraday trade. Meanwhile, the Nifty 50 declined 198.50 points to settle at 24,378.10, reflecting broad-based selling pressure across sectors.
IT Stocks Lead Market Decline
The market downturn was largely driven by heavy losses in IT stocks, with HCL Technologies emerging as the biggest laggard. Its shares tumbled 10.85% after the company’s March quarter results failed to meet investor expectations.
HCL Tech reported a net profit of ₹4,488 crore, but the earnings disappointed the market, triggering sharp selling.
Other major losers included:
- Infosys
- Tata Consultancy Services
- Tech Mahindra
- Mahindra & Mahindra
- ICICI Bank
Select Stocks Show Resilience
Despite the broader market weakness, a few stocks managed to close in positive territory, including:
- Hindustan Unilever
- NTPC
- Trent
These gains provided limited support but were insufficient to offset the overall market decline.
Key Reasons Behind Market Fall
Market participants attributed the downturn to:
- Foreign Institutional Investor (FII) outflows
- Heightened geopolitical tensions in West Asia
- Weak global cues impacting investor confidence
Analysts noted that uncertainty in global markets continues to weigh on domestic equities, leading to cautious trading behavior.
Rupee Extends Losses for Third Straight Day
The Indian currency also remained under pressure, weakening for the third consecutive session against the US dollar.
The rupee closed 39 paise lower at 93.83 (provisional) against the dollar, after touching an intraday low of 93.87, according to forex traders.
Persistent foreign capital outflows and heavy selling in domestic equities contributed to the currency’s decline.
- Tuesday close: 93.44 (down 28 paise)
- Monday close: lower by 25 paise
Notably, the rupee had recently touched the 94 mark for the first time on March 23, signaling continued pressure on the currency.
Market Outlook
Experts suggest that near-term market direction will depend on global developments, institutional fund flows, and corporate earnings trends. Continued volatility is expected as investors remain cautious amid external uncertainties.
