Equity Alert
To move in range on West Asia truce, lower oil prices
This story was originally published at 08:37 IST on 9 June 2026
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Equity Alert: To move in range on West Asia truce, lower oil prices
MUMBAI--0820 IST--Headline equity indices are expected to move in a range Tuesday after the ceasefire announcement between Iran and Israel. Reacting to this, crude oil prices eased to $93 a barrel from its previous session high of $98 a barrel. The GIFT Nifty also indicated a muted opening for the benchmark indices. The indices are expected to track the early gains in the equity markets in Asia.
US President Donald Trump Monday announced a ceasefire between Israel and Iran, hours after Israel fired missiles at Iran in retaliation to an attack earlier in the day. "Both sides, Israel and Iran, are looking to do an immediate ceasefire!" Trump posted on Truth Social. "Final negotiations on 'peace' are proceeding, subject to ignorance or stupidity getting in its way." At 0822 IST, Brent crude oil August futures were 0.7% lower at $93.58 a barrel.
"From a technical perspective, Nifty continues to hover near a critical support zone placed at 23100, followed by a stronger support base around 23000," Sundar Kewat, technical and derivatives analyst at Ashika Institutional Equity Research, said. "These levels remain pivotal for maintaining the prevailing bullish structure. A decisive move above this level could trigger fresh momentum and open the door for an extension of the ongoing uptrend." Monday, the Nifty 50 closed 1% lower at 23123, down over 240 points. At 0801 IST, GIFT Nifty June futures were slightly lower at 23153. This was 30 points higher than the Nifty 50's Monday close.
Shares of PSU Banks will be in focus Tuesday after the Reserve Bank of India introduced a dollar-rupee forex swap facility for external commercial borrowings and overseas foreign currency borrowings with a concessional forex swap facility for public sector undertakings. This was opened to attract foreign capital inflows and strengthen the domestic currency. The Nifty PSU Bank index closed nearly 1% lower Monday.
Shares of Bharti Airtel and Vodafone Idea will also be in focus during the session, as the Bombay High Court Monday set aside the government's demand orders seeking payment of one-time spectrum charge from the telecom companies for the years 2008 to 2012. The high court said the government was not able to justify the decision and its action of levying one-time spectrum charge retrospectively upon Bharti Airtel and Vodafone Idea. Shares of Bharti Airtel ended nearly 1% higher Monday, while those of Vodafone Idea closed nearly 4% lower.
Most Asian equity markets were higher in early trade, with South Korea's KOSPI gaining the most. The index, which was up after falling for the past three sessions, gained over 3%. Barring the Dow Jones Industrial Average, the other two major US indices settled higher Monday. (Arundathi A R)
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Equity Alert: Indices in Asia gain, South Korea's KOSPI outperforms
MUMBAI—0818 IST--Most indices in Asia were up in early trade on Tuesday. South Korea's KOSPI rebounded strongly, gaining more than 3%. Japan's Nikkei 225 and TOPIX were also higher. Gains in technology stocks on Wall Street overnight, coupled with Iran and Israel holding off on further military action, supported sentiment. Brent crude oil futures slipped more than 4% from Monday's highs to $94 per barrel.
"Both sides, Israel and Iran, are looking to do an immediate CEASEFIRE! Final negotiations on "Peace" are proceeding, subject to ignorance or stupidity getting in its way," US President Donald Trump said in a post on Truth Social.
On the macroeconomic front, China's trade surplus was resilient at $105.4 billion, well above the expected $86.8 billion, according to Dow Jones Newswires. Its exports rose 19.4% on the year, while imports incerased 27.4%. Growth in exports and imports in May surpassed expectations. China's CSI 300 was up 0.1% and the SSE Composite gained 0.3%.
Meanwhile, business confidence in Australia remained weak in May at (-)14, compared with (-)23 in April, according to the survey conducted by the National Australia Bank. "... with global uncertainty persisting, the domestic backdrop softening and cost pressures remaining elevated, confidence remains very weak and in negative territory across all industries," the report said. Australia's benchmark S&P/ASX 200 was down 0.6%.
The following were the levels of major Asian indices at 0816 IST:
| Index | Level | Change in % |
| CSI 300 Index | 4728.4751 | 0.31 |
| Hang Seng Index | 24647.93 | (-)0.04 |
| Nikkei 225 Day | 64506.46 | 0.75 |
| TOPIX FIRST SECTION | 3871.65 | 0.50 |
| KOSPI | 7708.71 | 3.00 |
| FTSE Singapore Strait Times | 5010.86 | 0.95 |
| S&P/ASX 200 Index | 8580.70 | (-)0.55 |
(Ruchira Kagita)
Equity Alert: Chipmakers rebound on Wall Street; NASDAQ, S&P 500 gain
MUMBAI--0740 IST--Chipmakers rebounded on Wall Street on Monday after seeing an intense sell-off on Friday. The NASDAQ Composite and S&P 500 ended higher on Monday, even as the Dow Jones Industrial Average closed lower. Israeli Prime Minister Benjamin Netanyahu's comment that the country would hold off on further strikes against Iran aided the sentiment.
Shares of Micron Technology were up almost 10%, while Advanced Micro Devices rose 5%, ASML Holding over 6%, and Broadcom nearly 3%. Marvell Technology, which had closed 16% lower on Friday, advanced almost 10%. Intel Corp. soared around 11?ter The Information reported that Alphabet, the parent of Google, placed an order with Intel to manufacture over 3 million tensor processing units in 2028. Meanwhile, the Philadelphia Semiconductor Index, which tracks 30 major companies involved in semiconductor design and manufacturing, was up almost 6%. All constituents of the index closed in the green.
"This market has been priced for quite a while for perfection, and these are certainly imperfect times. In that environment, you are going to see some back-and-forth, and some fear of prices having gone too far," Rick Meckler, partner at Cherry Lane Investments, told Reuters.
In some other news, Apple rolled out an artificial intelligence-powered version of Siri at its annual Worldwide Developers Conference in Cupertino, California. "Some appear to be racing forward, seemingly pursuing AI for the sake of AI, without clear regard for the people, all of us, that it's ultimately meant to serve," Reuters quoted Craig Federighi, Apple's senior vice president of Software Engineering, as saying at the conference. Investors, however, were not so enthused about the new launch. Shares of the iPhone maker were down almost 2%.
The following were the closing levels of major US indices on Monday:
|
US Indices |
Levels |
Change in % |
|
Dow Jones Industrial Average |
50786.01 | (-)0.16 |
|
NASDAQ Composite |
25929.66 | 0.86% |
|
S&P 500 |
7405.73 | 0.30% |
(Ruchira Kagita)
US$1 = INR 95.71
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.
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