Stock Market Today | Opening Bell: Why Is The Stock Market In The Red Today? Sensex Drops 400 Points, IT Stocks Drag Markets Lower

Stock Market Today, June 11, 2026: Dalal Street opened on a weak note on Thursday. On the back of selling in IT stocks, the benchmark indices turned red, which wiped off some of the gains of a few banking & telecom stocks. While the BSE Sensex opened in the negative at 73,615.99, it turned out to be weak in the first half-hour trade as it closed at 73,983.18 yesterday. It is trading 406.55 points (0.55 per cent) lower at 73,576.63 at 9:36 AM. Similarly, the NSE Nifty 50 started with a downside. The index is trading 96.95 points (0.42 per cent) lower at 23,118.00 compared to the opening at 23,104.40 and closing at 23,214.95 yesterday. The market sentiment is subdued, as most of the stocks are losing their ground, declining far ahead of advancing stocks. In the Nifty 50, where 13 stocks were trading higher, 37 stocks in the red represented overall weakness across the sectors.

Gift Nifty signals proves accurate

GIFT Nifty futures signalled a dull start on Dalal Street, and the market was not different after the opening bell. At 7:47 am, GIFT Nifty was trading lower by 87 points, or 0.38 per cent, at 23,053.50 as against 23,140.50. This shows a weak start expected in domestic equities.

The benchmark indices were in the red, as expected, at the opening. Sensex opened at 73,615.99, down almost 367 points from the previous close at 73,983.18, while Nifty 50 opened at 23,104.40 against the previous close of 23,214.95. The indices managed to recover some of their opening losses but remained in the red as selling pressure was sustained on the technology stocks.

IT stocks bore the maximum brunt

The technology stocks remained the largest drag on the market in early trade. The nifty IT index was the worst-performing sector in NSE and ended the morning trades down 2.47 per cent.

HCLTech fell 3.28 per cent, Infosys 2.96 per cent, Tech Mahindra was down 2.67 per cent, TCS was trading at 1.76 per cent below the previous day’s closing as major heavyweight tech stocks pull benchmark indices down.

The BSE Focused IT index was also trading down 2.53 per cent dragged by the technology pack.

Banking stocks offered little relief

Banking shares were providing some cushion to the falling benchmark indices. ICICI Bank gained 0.72 per cent to become the top gainer on the Sensex, followed by Axis Bank, which gained 0.19 per cent. Bharti Airtel was up 0.44 per cent and IndiGo was trading 0.49 per cent higher.

The Nifty Bank index is trading just 0.10 per cent lower at 55,042.60, with the Nifty Private Bank index trading higher, indicating that private banking shares were showing a better momentum compared to the broad markets.

Which sectors were in the green?

Otherwise, the market was weak with defensive segments clinging to the positive territory.

Nifty Pharma was trading 0.52 per cent higher, Nifty Healthcare gaining 0.29 per cent and Nifty Media 0.13 per cent higher. These sectors witnessed buying interest from the investors due to the defensive nature, while technology stocks bled.

Nifty Auto slipped by 0.71 per cent, Nifty Realty also registered a fall of 0.57 percent, Nifty PSU Bank was trading 0.51 per cent in the red and Nifty Financial Services dipped by 0.28 per cent.

Top Movers in Sensex

Winners

ICICI Bank +0.72%
Power Grid +0.70%
IndiGo (+0.49%).
Bharti Airtel (+0.44%) 
Axis Bank (+0.19 per cent)

Losers.

HCLTech (-3.28%) 
Infosys (-2.96 %)
Tech Mahindra (-2.67%) 
Trent (-2.01 per cent)
TCS (-1.76 %)

What traders are watching

Markets appear to be consolidating after Wednesday’s largely range-bound session. Investors are watching global cues, crude oil prices, and developments in West Asia, while early market direction is being dictated by sector-wise selling in technology stocks.

Dalal Street is still in the red, and traders are waiting to see if support from banks and defensive sectors can help avoid a deeper slide for the rest of the session.

(Disclaimer: This article is for informational purposes only and should not be considered investment advice. The views, opinions, and recommendations expressed herein are those of the respective experts. Readers are advised to consult a qualified financial advisor before making any investment decisions.)

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