Nifty closes below 23,850, Sensex plunges 893 points amid IT selloff and global market weakness

Indian equity markets closed sharply lower on Tuesday, with weakness centered on technology shares and broader global concerns about further U.S. monetary tightening. In Mumbai, the Nifty 50 ended at 23,824.10, down 278.80 points or 1.16%, while the BSE Sensex fell to 76,200.68, losing 893.39 points or 1.16%. Market participants attributed the decline to a broad-based IT selloff, a weaker rupee, and investors booking profits after a recent rally. Nifty IT dropped 2.23% and Nifty Media slid 3.22%, while Nifty PSU Bank fell 1.97% and Nifty Auto declined 0.77%. Nifty Pharma was the only sector to finish higher, gaining 0.92%. Brent crude was trading at $77.51 per barrel at the time of reporting. Asian markets also mostly fell, with South Korea’s KOSPI down more than 11%.