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Markets extend losses in late trade
Jun-23-2026

Benchmarks have extended losses in late afternoon session amid weakness in market heavy weights like HDFC Bank, Infosys and Reliance Industries. Further, investors took a cautious stance as Asian equity markets were trading mostly in red, while European equity markets were trading lower weighed by heavy sell off among technology stocks. Back home, risk sentiments were dimmed as foreign institutional investors were the net sellers on Monday’s session, offloading securities worth Rs 635.91 crore. Meanwhile, growth of India's private sector softened in the month of June, with slower demand for Indian goods and services, restricting the extent to which output levels were raised. Overall new orders volumes continued to rise strongly in June, despite the rate of expansion slowing to the weakest in three months. 

The BSE Sensex is currently trading at 76515.95, down by 578.12 points or 0.75% after trading in a range of 76371.70 and 77194.83. There were 4 stocks advancing against 26 stocks declining on the index.

The alone gaining sectoral index on the BSE was Healthcare up by 0.84%, while Metal down by 3.23%, Basic Materials down by 2.00%, IT down by 1.89%, Telecom down by 1.82% and TECK down by 1.55% were the top losing indices on BSE.

The top gainers on the Sensex were Sun Pharmaceutical Industries up by 0.85%, Axis Bank up by 0.79%, Power Grid Corporation up by 0.76% and Maruti Suzuki up by 0.21%. On the flip side, Tata Steel down by 2.84%, TCS down by 2.81%, Infosys down by 2.67%, Adani Ports & SEZ down by 2.11% and Bharat Electronics down by 1.58% were the top losers.

Meanwhile, with an aim to protect domestic manufacturers from cheap imports, India has imposed an anti-dumping duty on Sulphenamides Accelerators, a chemical widely used in the rubber and tyre industries, imported from China, the European Union (EU), and the United States (US), for a period of five years.  According to a Finance Ministry notification, the move follows recommendations by the Directorate General of Trade Remedies (DGTR). The duty ranges from $75 per tonne to $1,748 per tonne. 

The DGTR has recommended the duty on the imports of Sulphenamides Accelerators from the three regions, as it has been exported at a price below the normal value in Indian markets, which has resulted in dumping and material injury to the domestic industry here. India has also extended the levy of anti-dumping duty on 'Aluminium Foil imported from China, Malaysia, Thailand and Indonesia. The duty will be in force till December 15, 2026. 

Anti-dumping investigations are carried out to determine whether domestic industries have been hurt because of a surge in cheap imports. As a countermeasure, they impose these duties under the multilateral regime of the Geneva-based World Trade Organization (WTO). The duty is aimed at ensuring fair trading practices and creating a level-playing field for domestic producers vis-a-vis foreign producers and exporters.

The CNX Nifty is currently trading at 23914.50, down by 188.40 points or 0.78% after trading in a range of 23862.65 and 24135.50. There were 9 stocks advancing against 41 stocks declining on the index.

The top gainers on Nifty were Cipla up by 1.58%, Dr. Reddy's Laboratories up by 0.93%, Axis Bank up by 0.88%, Sun Pharmaceutical Industries up by 0.85% and Power Grid Corporation up by 0.79%. On the flip side, JSW Steel down by 3.69%, Hindalco down by 3.26%, Wipro down by 2.85%, TCS down by 2.85% and Adani Enterprises down by 2.83% were the top losers.

Asian equity markets were trading mostly in red; Nikkei 225 slipped 2093.96 points or 2.98% to 70,260.00, Taiwan Weighted lost 640.86 points or 1.36% to 47,100.65, Hang Seng declined 417.52 points or 1.79% to 23,351.00, KOSPI dropped 910.71 points or 11.1% to 8,203.84, Jakarta Composite plunged 56.08 points or 0.93% to 6,060.61 and Shanghai Composite weakened 56.85 points or 1.38% to 4,106.25, while Straits Times rose 3.21 points or 0.06% to 5,207.22.

European equity markets were trading lower; UK’s FTSE 100 decreased 57.11 points or 0.55% to 10,380.74, France’s CAC fell 67.91 points or 0.81% to 8,332.20 and Germany’s DAX lost 328.39 points or 1.31% to 24,811.30.
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