Post Market Analysis | 23 June, 2026

Today's session erased a large part of the gains made over the last week. The pressure wasn't limited to India. Most Asian markets closed in heavy losses today, and the biggest shock came from South Korea. The KOSPI crashed more than 11%, triggering market-wide panic across the region. Concerns around the AI trade, heavy selling in technology stocks and uncertainty around South Korea's MSCI classification pushed investors to rush for the exit. That weakness quickly spread to other markets, including India. Selling started early and continued throughout the day. There was no meaningful recovery attempt, and Nifty closed near the day's low. IT, Metals, PSU Banks, Consumer Durables and Media stocks saw the biggest damage. Almost every major sector ended in red. Pharma and Healthcare were among the very few sectors that managed to stay positive. Market breadth was weak as well. Declining stocks heavily outnumbered advancing stocks, while both Midcaps and Smallcaps closed lower. Another sign of nervousness was the sharp jump in India VIX, which rose more than 10% during the session. The good news is that crude oil remains below $78, so at least that concern has cooled down for now. The rupee, however, weakened again and continues to remain on the weaker side. From a market structure point of view: • Most Asian markets closed in deep losses • KOSPI plunged more than 11% • Nifty closed near the day's low • Selling was visible across sectors • Volatility jumped sharply The next few sessions will tell us whether today's fall was just a reaction to global weakness or the start of a deeper correction. For now, sellers clearly had the upper hand throughout the day.