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Informist, Monday, Jun. 8, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: May open lower on new West Asia war worries, higher oil prices

 

MUMBAI--0830 IST--Domestic benchmark indices may open lower Monday, on fresh escalations in the West Asia war and higher crude oil prices. They are also expected to track the early fall in all Asian markets. A renewed fight emerged between Iran and Israel, and the still clouded US-Iran peace deal talks may dampen market sentiment ahead. Analysts say market sentiment may get a boost only if there is some positive news regarding a peace deal between the US and Iran to end the war and crude oil prices fall.

 

According to the latest development, Iran Sunday reportedly fired missiles at Israel. The reports of missile fired from Iran came after the Iranian Parliamentary Speaker, M.B. Ghalibaf, posted on his X account that the US "naval blockade and violation of agreements regarding Lebanon" amounted to violations of the ceasefire, CNBC reported.

 

US President Donald Trump has been briefed on renewed fighting after Iran fired a missile at Israel for the first time since the start of the ceasefire, CNBC reported, as the White House confirmed to MS NOW. The report also said Trump Sunday told Fox News that the missile attacks were "certainly not going to help negotiations." Trump was going to call Israeli Prime Minister Benjamin Netanyahu to urge him not to strike back at Iran, the CNBC report said, quoting Axios. At 0827 IST, Brent crude oil August futures were over 3% higher at $96.12 a barrel. In a week, crude oil prices have risen nearly 6%.

 

According to media reports, Prime Minister Narendra Modi Saturday chaired a meeting with the members of the Economic Advisory Council to deliberate on strategies to further bolster India's economic growth amid global turmoil. The discussion focused on policy measures to support India's economic growth while making it resilient against external shocks, a media reported, quoting sources.

 

He also said in a social media post that the figures of GDP growth for the financial year 2025-26 (Apr-Mar), particularly the figures for the March quarter, show the "inherent strength" of India's economy and the success of reforms. He said the country's growth momentum is strong.

 

At 0826 IST, the June futures contract of GIFT Nifty was up 0.4% at 23188, lower than nearly 180 points from the Nifty 50's Friday close of 23366.70. "A fresh geopolitical escalation in the Middle East (West Asia) will take a toll on global equity markets," said Vipin Kumar, technical and derivatives analyst at Globe Capital Market. "Technically, the Nifty index is hovering in a consolidation phase (23000–24000 range), facing intraday resistance around the 23500–23550 spot levels and support near the 23150–23000 spot levels."

 

In the markets in Asia, South Korea's Kospi was the major loser, down almost 6%. All the three major US indices had settled significantly lower Friday, with the Nasdaq Composite down over 4%. The index was down for the third straight session.  (Arundathi A R)

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Equity Alert: Asian indices bleed following tech-led rout on Wall Street

 

MUMBAI--0825 IST--All the major indices in Asia were lower Monday morning, following the sharp sell-off in technology stocks on Wall Street Friday. South Korea's key index, KOSPI, fell the most in the region, and was followed by Japan's Nikkei 225. Further, Brent crude oil futures rising almost 4% from Friday's lows back to around $96 per barrel also likely worsened sentiment. Crude oil prices inched up after Israel and Iran exchanged fire, escalating tensions. 

 

Among the constituents of KOSPI, heavyweights Samsung Electronics Co. and SK Hynix were lower by 6% and 3%, respectively. Owing to heightened volatility, trading in the index was also briefly halted, the DowJones Newswires reported. South Korea's broader market, KOSDAQ, was also down nearly 7%. Japan's benchmark Nikkei 225 fell over 4%, with shares of key stocks Advantest Corp. down 5%, SoftBank Group Corp. down almost 8%, and Tokyo Electron down over 6%. Among others, semiconductor player Renesas Electronics Corp. fell over 10% and electronic component manufacturer Murata Manufacturing Co. was down nearly 9%. Japan's TOPIX, meanwhile, fell amost 3%. The Australian stock market was closed on Monday for the King's Birthday. 

 

"Blockbuster offerings have marked the peak of excess in past market cycles, so there seems to be an awkward silence around what this could signal for sentiment," Callie Cox, the chief market strategist at Ritholtz Wealth Management, told CNBC. 

 

In macroeconomic news, the second estimate of Japan's GDP showed the economy expanded 1.8% year on year for the quarter ended March. This figure has been revised lower from the preliminary estimate of a 1.8% rise on an annualised basis. On a quarterly basis, the Asian country's GDP rose 0.5% for the first three months of 2026. A Reuters poll had projected the GDP to grow 1.3% on year.

 

"My view is that the Jan-Mar GDP data show Japan's economy was still resilient before tensions in the Middle East escalated. Given incoming data for the Apr-Jun quarter, as well as government actions and economic policy, the economy is likely to remain firm. That suggests the BOJ may have to tilt more toward rate hikes," Kento Minami, senior economist at Daiwa Securities, told Reuters.

 

The following were the levels of major Asian indices at 0819 IST:

 

Index	Level	Change in %
CSI 300 Index	4764.3295	(-)1.09
Hang Seng Index	24747.68	(-)0.86
Nikkei 225 Day	64022.72	(-)3.85
TOPIX FIRST SECTION	3844.11	(-)2.66
KOSPI	7755.14	(-)4.97
FTSE Singapore Strait Times	4979.37	(-)1.40

 

(Ruchira Kagita)

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Equity Alert: US indices end sharply lower Fri, technology stocks tumble

 

MUMBAI--0745 IST--US indices ended sharply lower Friday, led by declines in technology stocks. The NASDAQ Composite slipped 4.2% to post its worst day since April. The S&P 500 fell 2.6%, while the Dow Jones Industrial Average was slightly better off, falling by just 1.4%. Further, the May jobs data made the case for a rate hike by the US Federal Reserve.

 

On Friday, shares of Advanced Micro Devices and Oracle Corp. fell by 10?ch, while those of Micron Technology declined by 14%, Intel Corp. and Qualcomm by 11?ch, Broadcom by 8%, and NVIDIA Corp. and Meta Platforms by 6?ch. The NASDAQ ended lower for the week after two straight weeks of gains, down about 5%. The S&P 500 snapped its nine-week run of advances, lower by almost 3%. The Dow Jones also closed in the red after advancing for two weeks in a row, down 0.3%. 

 

"The market reaction today (Friday) was more driven by positioning rather than fundamentals," Ohsung Kwon, chief equity strategist at Wells Fargo, told Reuters. "The semiconductor sector was way overbought. That's why we're seeing the selloff. I don't think it's the end of the semi bull market," Kwon said. 

 

The US added 172,000 jobs in May, topping expectations. The country's unemployment rate was unchanged at 4.3%. Economists had expected the US to add around 80,000 jobs in the previous month.  The recent data indicate some resilience in the labour market. The question of when the US Federal Reserve will raise interest rates has become more prominent in light of this data. "This is a labor market that is stronger than it was last year and is looking pretty darn solid, despite high energy prices and higher inflation generally," Gus Faucher, chief economist at PNC, told CNBC.

 

The following were the closing levels of major US indices on Friday:

 

US Indices	Levels	Change in %
Dow Jones Industrial Average	50866.78	(-)1.35
NASDAQ Composite	25709.43	(-)4.18
S&P 500	7383.74	(-)2.64

 

(Ruchira Kagita)

 

US$1 = INR 94.95

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Akul Nishant Akhoury

 

All prices from National Stock Exchange, unless otherwise specified.

All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.

All times are Indian Standard Time.

 

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