Share Market Today: Sensex, Nifty Hit 2-Month Low

Indian Stock Market Today | Indian equity benchmarks ended sharply lower on Monday, June 8, 2026, extending their losing streak for a second consecutive session.

Aggressive, broad-based selling pressure dominated Dalal Street from the opening bell, dragging both the Sensex and Nifty 50 to their lowest closing levels in nearly two months.

At the Closing Bell:

• BSE Sensex: Fell 719 points to close at 73,524
• Nifty 50: Slipped 244 points to settle at 23,123
• Nifty Bank: Declined 432 points to finish at 54,064

Why Did the Indian Stock Market Fall Today?

The five factors driving the market crash today include:

1. US-Iran War Updates

The war in the Middle East intensified sharply on Monday after Israel struck key military targets in western and central Iran. A day earlier, Israel had also launched airstrikes in the Beirut area for the first time since the US announced a truce plan for Lebanon last week.

Iran responded by firing a barrage of missiles at Israeli targets, further raising fears that the ongoing US-Iran peace talks could collapse.

2. Rising Crude Oil Prices

Crude oil prices reacted sharply to the escalating tensions. Brent crude, the global oil benchmark, jumped over 4% to $98/barrel, as the conflict reduced hopes of an early resolution and raised concerns over potential disruptions to global oil supplies.

India, being a major crude oil importer, remains particularly vulnerable to higher oil prices. A sustained rise in crude prices can widen the import bill, pressure the balance of payments and add depreciation pressure on the rupee.

3. Weak Global Cues

Global markets came under pressure as Asian equities witnessed broad-based selling. In the US, Wall Street’s nine-week winning streak ended sharply on Friday, led by a steep fall in red-hot tech stocks, their biggest single-day decline since April 2025.

A strong May jobs report also revived concerns that the US Federal Reserve could adopt a more hawkish stance. The sell-off was largely concentrated in semiconductor and AI-linked stocks, with Broadcom’s earnings acting as the key trigger.

Read More: The Big Macro Triggers This Week

4. Weak Market Breadth

 The sell-off was broad-based, with 24 of the 30 Sensex constituents ending in the red and 40 Nifty stocks closing lower.

Market breadth remained firmly negative, with the NSE Advance-Decline ratio standing at nearly 1:3.

5. Rupee Weakens

The Indian rupee also came under pressure, closing at 95.71/$, compared with Friday’s close of 94.95/$.

The weakness was driven by a stronger US dollar overseas, firm US economic data and rising geopolitical uncertainty.

Nifty Today & Major Indices Overview

Technical Analysis: Nifty & Bank Nifty Levels

NIFTY 50: Opened 286 points lower at 23,080.70, reached a high of 23,267.30 and closed at 23,123.

The index formed a small-bodied bullish candle with a long upper wick, indicating selling pressure at higher levels.

• Immediate Support: 23,050
• Immediate Resistance: 23,200

BANK NIFTY: Opened 642.80 points lower at 53,853.45, reached a high of 54,455.20 and closed at 54,063.75.

The index snapped its four-day winning streak and formed a bullish candle with a long upper shadow, indicating pressure at higher levels.

• Immediate Support: 53,800
• Immediate Resistance: 54,300

Top Trending Stocks Today

• EMS: Stock surged over 10% after the company emerged as the lowest bidder (L1) for a sewer network project worth ₹102.85 crore in Varanasi.
• Dee Development: Stock hit the 5% upper circuit following a strong business update, with May order inflows at ₹632 crore and the total order book standing at ₹2,434 crore.
• H.G. Infra: Stock climbed nearly 3% after the company received a provisional completion certificate for a ₹4,970.99 crore project in Uttar Pradesh.

World Markets, Crude & Gold Prices

• Global Equities: Asian and European markets witnessed broad-based selling, pressured by escalating tensions in the Middle East and a global sell-off in AI-linked stocks.
• Crude Oil: Brent crude jumped over 4% to nearly $98 per barrel as fresh Israeli strikes on Iran and Lebanon raised fears of a wider conflict and potential oil supply disruptions.
• Gold Prices: The yellow metal fell to its lowest level in more than two months after strong U.S. jobs data increased expectations of a potential Federal Reserve rate hike.

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