📉 Why did the market fall suddenly today (23 June 2026)? $INFY $COFORGE

📉 Why did the market fall suddenly today (23 June 2026)? The sharp fall was mainly due to a combination of profit booking, weak economic data, and global concerns. The Nifty fell around 1.2% while the Sensex lost nearly 900 points. Key Reasons 🔹 1. Weak India PMI Data India's private sector growth slowed in June, with services activity hitting a 17-month low. This raised concerns about economic growth momentum. 🔹 2. Heavy Selling in IT Stocks IT stocks came under pressure after weak global tech sentiment and concerns over slower IT spending. The Nifty IT index was among the biggest losers. 🔹 3. Profit Booking After Recent Rally Markets had rallied strongly over the past few sessions due to easing geopolitical tensions and softer crude prices. Traders used today's weak news flow to book profits. 🔹 4. US Fed Rate Concerns Investors are worried that the US Federal Reserve may keep interest rates higher for longer, which can trigger foreign fund outflows from emerging markets like India. 🔹 5. Global Risk-Off Sentiment Weak global markets, especially in technology stocks, led to broad-based selling across Asian markets and impacted Indian sentiment. What to Watch Next? ✅ Nifty support: 23,700–23,800 zone ✅ Resistance: 24,100–24,200 zone ✅ Monitor FII activity, US bond yields, and upcoming Q1FY27 earnings. Market View At present, this looks more like a correction/profit-booking phase rather than the start of a major bear market. Domestic liquidity remains strong, but volatility may continue for a few sessions. Investors should focus on quality stocks and avoid leveraged positions. 📊