Sensex falls 900 pts intraday, Nifty below 23,100: Here are 4 key reasons

Indian benchmark indices tumbled on Monday, June 8, 2026, tracking a sharp sell-off in Asian equities as geopolitical tensions in West Asia intensified. The BSE Sensex fell 924.4 points or 1.24 per cent to an intra-day low of 73,318.94, while the Nifty50 dropped 210.2 points or 1.26 per cent to 23,070.15.

At 9:26 AM, TCS, Mahindra and Mahindra, Bajaj Finance, and HCL Technologies were among the top laggards on BSE, while Sun Pharma and Axis Bank bucked the trend.

In the broader market, the Nifty MidCap 100 and SmallCap 100 declined 0.85 per cent and 0.72 per cent, respectively. Nifty Auto, Metal, Realty, Oil and Gas, Chemical, Consumer Durables, and IT all fell over 1 per cent each.

Why did Sensex and Nifty fall today?

West Asia conflict and oil price surge

Geopolitical tensions escalated sharply after reports emerged that Israel struck military targets in western and central Iran on Monday — even as US President Donald Trump had reportedly urged Israeli Prime Minister Benjamin Netanyahu to hold back from further strikes. Trump separately said new strikes by Israel and Iran would not derail his administration’s peace talks with Tehran, adding that Netanyahu “doesn’t call the shots.”

The strikes followed Iran’s firing of missiles at Israel on Sunday, to which Israel retaliated, leaving a fragile ceasefire between Washington and Tehran hanging in the balance. The Iranian Parliamentary Speaker, MB Ghalibaf, had earlier said on X that the US naval blockade and alleged violations of agreements regarding Lebanon amounted to breaches of the ceasefire.

“The escalation of conflict in West Asia, with Iran firing missiles at Israel in retaliation for Israel’s aggression in Lebanon, has hardened crude prices,” said VK Vijayakumar, chief investment strategist, Geojit Investments.

Brent crude oil futures surged 3.66 per cent to $96.5 per barrel, driven by renewed strikes on Lebanon despite a truce between the two countries, eroding hopes for an end to the wider conflict and a resumption of crude flows through the Strait of Hormuz.

Global markets fall

Asian markets fell sharply on Monday amid escalating geopolitical concerns. South Korea’s Kospi plunged 4.93 per cent, Japan’s Nikkei declined 3.66 per cent, mainland China’s CSI 300 dropped 1.65 per cent, and Hong Kong’s Hang Seng fell 1.19 per cent.

Technology stocks across Asia-Pacific extended their sell-off, as investor appetite for artificial intelligence (AI)-linked plays soured following a more than 4.5 per cent decline in the US Nasdaq last week. On Friday, US markets tumbled after stronger-than-expected May jobs data stoked fears of higher financing costs — the Dow Jones lost 1.35 per cent, while the S&P 500 and Nasdaq dropped 2.64 per cent and 4.18 per cent, respectively.

FII outflows

Foreign institutional investors have been persistent sellers of Indian equities in June, offloading stocks worth ₹31,114.47 crore so far this month.

Rupee depreciates

The Indian rupee opened 38 paise weaker in early trade against the US dollar at 95.32, adding to broader market pressure.

Technical view

“The near-term bias remains cautious as long as the Nifty trades below the 23,500–23,550 resistance zone. Immediate support is placed around 23,100, and a sustained breach below this level could trigger further weakness towards the 23,000–22,800 zone. However, despite the negative opening indications, any stability in global markets and easing in crude oil prices could help the index find support at lower levels,” said Rajesh Palviya, head of research, Axis Direct.