Market News: Sensex Falls 383 Points, Nifty Ends Below 23,800
Indian benchmark stock indices ended lower on Monday, September 7, 2026, as selling pressure in IT and other sectors weighed on the market. Rising crude oil prices, Middle East tensions and expectations of a possible US Federal Reserve rate hike also affected investor sentiment.
Sensex, Nifty Close Lower
The BSE Sensex fell 382.62 points, or 0.50%, to close at 76,132.81.
The NSE Nifty 50 declined 118.55 points, or 0.50%, to end at 23,779.15, moving below the 23,800 level.
The broader market was also weak, with several sectoral indices ending in negative territory.
IT Stocks Lead Selling
Information technology stocks were among the biggest drags on the market. The Nifty IT index fell about 2.28%.
Infosys was the biggest Nifty 50 loser, falling 3.76%. Tech Mahindra and Tata Consultancy Services also declined.
The selling followed stronger-than-expected US employment data, which increased concerns that the Federal Reserve could keep interest rates higher or raise rates at its September meeting. Higher US rates can also affect spending by American companies, an important market for Indian IT firms.
Crude Oil, Middle East Tensions
Rising crude oil prices were another major concern for Indian investors. Brent crude was trading near $97 a barrel as tensions between the United States and Iran raised fears of disruption to oil supplies through the Strait of Hormuz.
Higher oil prices are important for India because the country depends heavily on imported crude. A prolonged increase can raise import costs and add pressure to inflation.
Foreign Selling Adds Pressure
Market sentiment was also affected by continued foreign institutional investor selling, while concerns over the monsoon and IPO-related liquidity pressures added to the cautious mood.
Despite the broad market decline, pharma stocks gained about 0.75%, making the sector one of the few bright spots during the session. Apollo Hospitals was the biggest Nifty gainer, rising about 1.27%.