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Sensex Prediction for Today – 24 June 2025 | IT Stocks Lead the Slide as Market Sentiment Weakens
The Indian stock market witnessed a sharp correction on Monday, 23 June 2025, with the BSE Sensex plunging by 511.38 points, or 0.62%, to close at 81,896.79. This marked a reversal of Friday’s bullish momentum as fresh worries emerged around the global technology sector. Investors turned cautious following Accenture’s disappointing earnings report, which triggered a sharp sell-off in Indian IT stocks.
The weakness was led by Infosys (-2.40%), Larsen & Toubro (LT) (-2.14%), HCL Technologies (-2.11%), and Hindustan Unilever (-1.35%), dragging down the benchmark index. Despite the downturn, some pockets of strength remained in the financial and consumer space with Bajaj Finance (+1.20%), Kotak Mahindra Bank (+0.66%), and Bajaj Finserv (+0.57%) among the few gainers. Market breadth on the Sensex remained weak, with 24 of 30 stocks ending in the red, signaling risk-off sentiment across sectors.
Sensex Performance Recap – 23 June 2025
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Closing Level: 81,896.79
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Change: -511.38 points
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Percentage Change: -0.62%
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Market Breadth: 6 Advances | 24 Declines
Top Losers on Sensex
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Infosys: -2.40%
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LT (Larsen & Toubro): -2.14%
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HCL Tech: -2.11%
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HUL: -1.35%
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ITC: -1.10%
Top Gainers on Sensex
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Bajaj Finance: +1.20%
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Kotak Bank: +0.66%
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Bajaj Finserv: +0.57%
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Trent: +3.57%
Despite a weak session, the presence of buying in select financial names shows that not all sectors are under pressure, and some investor confidence persists in the broader market.
Also Read-https://bytethenews.in/stock-market-predictions-for-tomorrow-india-24-june-2025/
Why Did the Market Fall on 23 June 2025 ?
The decline was primarily due to the following reasons :
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Global IT Weakness: Accenture’s poor quarterly numbers spooked global tech investors. Since Indian markets have a large weightage of IT majors, the impact was immediate and heavy.
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Profit Booking: After a strong rally on 21 June, many traders chose to lock in profits, especially in frontline stocks.
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Mixed Global Sentiment: Despite decent US data, geopolitical tensions and inflation uncertainties remain a concern.
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Sectoral Rotation: Investors are gradually shifting focus from IT and FMCG to banking, energy, and select consumer stocks.
Technical Outlook for Sensex – 24 June 2025
From a technical standpoint, Sensex remains above the critical 20-day EMA, which suggests that buying support exists at lower levels. However, the index formed a bearish candle pattern, which signals a pause in the bullish trend.
Key Support Levels :
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81,526 – Minor support from recent intraday lows
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81,155 – Key psychological and trendline support
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80,833 – Strong base, must hold to retain bullish structure
Key Resistance Levels :
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82,219 – First hurdle to reclaim upside
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82,541 – Swing resistance
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82,912 – Psychological level and target for bullish traders
A sustained move above 82,219 could invite more buying and potentially retest the recent highs.
Trading Strategy for 24 June 2025
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Hold with Caution: Traders who went long during last week’s breakout should now trail their stop-loss to 81,108on a closing basis.
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Buy-on-Dips Approach: New positions can be considered only near the 81,526–81,155 support zone, provided global cues remain stable.
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Avoid Shorts: Short-selling is discouraged unless the index decisively breaks below 80,833.
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Sector Focus: Prefer financials, autos, and telecom. Avoid fresh entries in IT or defensive FMCG stocks for now.
FAQs – Sensex Outlook for 24 June 2025
1. Why did Sensex fall on 23 June 2025 ?
The drop was mainly due to a sell-off in tech stocks after Accenture reported weak earnings. Global cues were also mixed, and many investors booked profits after last week’s rally.
2. Is the Sensex still in an uptrend ?
Yes, the medium-term trend remains bullish. However, the current price action shows consolidation. As long as the index holds above 81,108, the trend remains intact.
3. Which sectors are showing strength now ?
Financial services, auto, and select consumer-facing stocks like Trent and Bajaj Finance are performing well. IT and FMCG continue to lag.
4. Should traders be cautious today ?
Absolutely. With key resistance at 82,219 and geopolitical uncertainty in the background, it’s better to trade with stop-losses and limit high-leverage positions.
5. Is this a good time for long-term investors ?
Yes, especially in sectors like banking, auto, and consumption. Use dips as opportunities to accumulate quality stocks in a phased manner.