Equity Alert
Nifty 50 June ends at premium of 20.55 points to spot index
This story was originally published at 15:54 IST on 10 June 2026
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Equity Alert: Nifty 50 June ends at premium of 20.55 points to spot index
MUMBAI--1550 IST--The June futures contract of the Nifty 50 closed at a premium of 20.55 points to the spot index Wednesday. Open interest in the contract fell 0.8% to 19.26 million, according to provisional data.
--Nifty 50 closed at 23214.95 points, down 27.15 points or 0.1% from Tuesday
--Nifty 50 June closed at 23235.50 points, down 95.60 points or 0.4% vs Tuesday
Nifty 50 options, expiring Tue, with maximum change in open interest:
Call: 23400, Put: 22500
Nifty 50 options, expiring Tue, with maximum open interest:
Call: 24000, Put: 21200
(Simran Rede)
Equity Alert: Most mkts in Europe fall, escalation in West Asia war weighs
MUMBAI--1512 IST--Most indices in Europe were down Wednesday amid a fresh escalation in the West Asia war with the US and Iran attacking each other. Indices in the UK, France, and Germany fell while those in Italy and Switzerland oscillated between gains and losses. The UK's FTSE 100 index continued its fall for the second day. The pan-European STOXX 600 was down 0.4%.
"We remain optimistic that a deal will be reached in the coming weeks, even if it's a fudge that will get some traffic flowing (through) the strait (Strait of Hormuz)," Mohit Kumar, chief financial economist for Europe at Jefferies, told Reuters. "Both the US and Iran do not want to go back to a full-scale war, hence we hope that the ceasefire, though fragile, will eventually hold," Kumar said.
In France, food and beverage major Danone was among the key stocks helping the main CAC 40 index limit its fall. Shares of energy giant Total Energies were up 1% as crude oil prices inched up slightly. Some luxury companies, such as the likes of Hermes International, EssilorLuxoticca, fell around 1?ch. In Germany, technology stocks fell taking cues from their US and Asia peers. Shares of Aixtron were down 3% and those of SAP 4%. The STOXX Europe 600 Technology index was down more than 1%. Dutch technology companies BE Semiconductor Industries, ASM International, and ASML Holding were lower by about 1?ch.
On the macroeconomic front, market participants are expecting the European Central Bank to hike rates by 25 basis points this time around. The central bank's two-day meeting on monetary policy starts Wednesday. "A quarter-percent interest rate rise appears baked-in for Thursday, with economists almost unanimous in their predictions," Michael Field, the chief European markets strategist at Morningstar, said in an article.
"Assuming that oil prices do not return to preconflict levels anytime soon, inflation estimates for 2026 and 2027 will need to be revised significantly upward," Ulrike Kastens, senior economist at DWS, also told Morningstar.
The following were the levels of major European indices at 1510 IST:
| Index | Level | Change in % |
| FTSE 100 Index | 10174.40 | (-)0.52 |
| CAC 40 | 8175.97 | (-)0.33 |
| FTSE MIB INDEX | 50203.17 | (-)0.12 |
| DAX PERFORMANCE-INDEX | 24251.34 | (-)0.74 |
| SLI PR | 2138.33 | 0.03 |
(Ruchira Kagita)
Equity Alert: Oil India dn 11%; Morgan Stanley downgrades co to 'underweight'
MUMBAI--1505 IST--Shares of Oil India fell further, declining over 11% to a three-month low of INR 422.55. Global brokerage Morgan Stanley downgraded the stock to 'underweight' from 'overweight' and trimmed the target price over 28% to INR 404. The brokerage sees delayed hikes in natural gas prices and weaker refinery margins until downstream companies recover from losses as major negatives for the company.
Morgan Stanley also sees potential diesel discounts as India shifts into a diesel surplus by the second half of 2027, as a headwind for Oil India. The slow growth in domestic production was factored in as well to downgrade the stock, CNBC-TV18 reported, citing Morgan Stanley. The brokerage also flagged a 6–7% downside risk to the upstream oil company's earnings estimate once crude oil prices ease after the West Asia war stops.
At 1456 IST, shares of the company traded over 9% lower at INR 431. Nearly 15 million shares of the company changed hands on the NSE, nearly seven times the number of shares traded till the same time Tuesday. The stock was the worst hit in both the Nifty 200 and Nifty 500 indices. (Adhithya Aji)
Equity Alert: Most indices in Asia down on West Asia woes, tech sell-off
MUMBAI--1410 IST--All the benchmark indices in Asia barring those of Australia and Indonesia fell Wednesday. South Korea's KOSPI, which had outperformed the markets in the region Tuesday, closed 4.5% lower. Japan's Nikkei 225 and the broader market TOPIX fell 2% and over 1%, respectively. The US' fresh attack on Iran sparked concern among market participants. US President Donald Trump said Iran struck down an American Apache helicopter. Markets in Asia also mimicked the sell-off in technology stocks on Wall Street to some extent.
In Japan, shares of the Nikkei 225 heavyweight SoftBank Group Corp. ended over 8% lower. Bloomberg reported that the company's plans to secure a margin loan worth $6 billion for OpenAI fell through. SoftBank Group could move forward with the margin loan at a later stage, the media agency said, citing sources. Among others, shares of Advantest Corp. declined 4%, Murata Manufacturing Co. 10%, and those of Shin-Etsu Chemical Co. 2%. In the 225-stock index, 126 stocks declined while 99 gained.
Meanwhile, in South Korea, the KOSPI was dragged by key constituents SK Hynix and Samsung Electronics Co. The stocks were down over 7% and 6%, respectively. Trading in the index was briefly halted once again when futures tumbled more than 5%, the DowJones Newswires reported. The country's broader market index, KOSDAQ, fell around 2%.
In Australia, gains in shares of consumer staples and discretionary stocks led to the S&P/ASX 200 closing higher by 0.6%. Technology stocks fell here too; the S&P/ASX 200 Information Technology index was down over 2%. Australia's benchmark index closed higher after falling for three sessions in a row. The index had lost 1.5% over this period.
The following were the levels of major Asian indices at 1409 IST:
| Index | Level | Change in % |
| CSI 300 Index | 4748.5932 | (-)1.11 |
| Hang Seng Index | 24407.96 | (-)0.64 |
| Nikkei 225 Day | 64179.27 | (-)1.89 |
| TOPIX FIRST SECTION | 3847.60 | (-)1.25 |
| KOSPI | 7730.82 | (-)4.52 |
| FTSE Singapore Strait Times | 4963.83 | (-)1.18 |
| S&P/ASX 200 Index | 8653.30 | 0.57 |
(Ruchira Kagita)
Equity Alert: Indices maintain gains; bks, FMCG cos up, select metal cos down
MUMBAI--1352 IST--Headline stock indices remained higher, with shares of banks and fast-moving consumer goods companies continuing to lead the gains in the Nifty 50 index. On the other hand, select metal and energy companies remained a drag on the 50-stock index. Broader market indices continued to underperform their benchmark peers, with the Nifty mid-cap and Nifty small-cap indices shedding 0.5–0.7%.
At 1348 IST, the Nifty 50 was at 23378.80, up 0.6%, while the BSE Sensex was at 74456.66, up 0.7%. Kotak Mahindra Bank, up 2.2%, was the highest gainer in the Nifty 50. Index heavyweight stocks HDFC Bank and ICICI Bank, up 2.1% and 1.9%, respectively, also helped the index maintain its gains. FMCG companies ITC, Nestle India, and Hindustan Unilver were up 1.7–2% and remained among the top gainers.
Hindalco Industries, down 2.9%, remained at the bottom of the index. Select state-owned energy plays such as Oil and Natural Gas Corp. and Coal India also stayed lower, down 2.1?ch. The rules regarding the establishment of regulated coal exchanges in India published by the government could be a negative for Coal India, according to a report by ICICI Securities. "The introduction of regulated coal exchanges could gradually shift coal transactions from the company's e-auction channel to exchange-based trading platforms. This may impact e-auction volumes, which remain one of Coal India's higher-margin sales segments," according to the report.
In the Nifty 200, Coromandel International remained the top gainer, up 4.2%, amid media reports that the government might double fertiliser subsidy in financial year 2026-27 (Apr-Mar) to INR 3.4 trillion compared to the Budget estimate of INR 1.7 trillion. Its small-cap peer, Chambal Fertilisers and Chemicals, was up 5% in the Nifty 500 index.
Oil India, down 6.9%, remained the worst performer in the Nifty 200. With gold prices shedding 2% Wednesday, stocks of allied businesses were among the laggards in the Nifty 200 index. At 1358 IST, the August contract of gold on the Multi Commodity Exchange was down 2.1% at INR 149,305 per 10 grams. Prices of the same month gold contract on the COMEX were down 2.1% at $4,195.2 per ounce. Muthoot Finance and Kalyan Jewellers were down 4% and 3%, respectively. Hindustan Zinc, the largest primary silver maker in the country, was down 3.1%. (Shruti Nair)
Equity Alert: Gold loan cos down as gold prices fall amid West Asia war
MUMBAI--1344 IST--Shares of gold loan providers Muthoot Finance and Manappuram Finance declined amid a fall in gold prices globally due to escalation in the West Asia war. Muthoot Finance fell 4% to a six-month low of INR 2,870, while its peer Manappuram Finance was down over 5% to an intraday low of INR 291.55.
Gold extended losses as the US launched retaliatory strikes on Iran after the latter attacked a US military helicopter, Bloomberg reported. At 1314 IST, the August futures of gold on the COMEX were down nearly 2% at $4,219 per ounce. The August futures of gold on the Multi Commodity Exchange were 1.8% lower at INR 149,780 per gram.
At 1333 IST, shares of Muthoot Finance traded nearly 4% lower at INR 2,882.60 and Manappuram Finance was nearly 5% lower at INR 293.10. Typically, a fall in gold prices is a headwind for these companies as it reduces the value of the collateral and impacts their margins. (Adhithya Aji)
Equity Alert: Aegis Logistics up, FY27 gas distribution margin seen steady
MUMBAI--1308 IST--Shares of Aegis Logistics were in focus after brokerages released positive commentary on the company's growth trajectory after it held a post-earnings conference call with analysts Tuesday. The company, meanwhile, said it expects its margins from the gas division to sustain at INR 7,000 per tonne in 2026-27 (Apr-Mar) even amid supply disruptions of liquefied petroleum gas. At 1309 IST, shares of the company traded 3% higher at INR 807 on the NSE. They had earlier risen as much 6.4% to their highest level this year at INR 832.9.
Aegis Logistics' gains in the distribution segment's volumes and profit are expected to offset the hit in its LPG logistics division in FY27, JM Financial said. Despite disruptions in the global supply of LPG, the company's distribution segment is at a competitive advantage given the re-routing of propane towards domestic oil marketing companies. The US emerging as an alternate destination for India's energy imports is also seen lending support to the company in the first half of FY27, according to the brokerage. Supply disruptions are seen stabilising only in the March quarter of the ongoing financial year.
The management of Aegis Logistics expects distribution margins to sustain at least at INR 7,000 per tonne level, which is similar to what was reported in FY26, and its volumes to increase strongly, JM Financial noted in its report. The broking firm raised its consolidated earnings before interest, taxes, depreciation, and amortisation margin estimates by 36% for FY27 and by 15% FY28. JM Financial maintained its 'buy' call on the stock with an upwardly revised target price of INR 1,200. The target price was raised by around 28%.
Motilal Oswal Financial Services highlighted the company's ambition for its gas distribution volumes, inclusive of ammonia, to reach two million tonnes by FY28. The company also plans to incur capital expenditure worth INR 5 billion by December 2030, with most of it allocated over FY29-FY31. The current estimates for the company already factor in its capacity expansion and earnings, the brokerage said. Motilal Oswal retained its ‘neutral' call with a target price of INR 706, up from INR 638.
Aegis Logistics' consolidated net profit for the March quarter jumped 45.7% on year to INR 4.1 billion. Revenue from operations for the quarter, meanwhile, rose 52.2% to INR 25.94 billion. (Ruchira Kagita)
Equity Alert: Indices remain higher; most bks extend gains, broader mkts dn
MUMBAI--1245 IST--Benchmark indices maintained their gains as Brent crude oil prices remained flat around $91 per barrel. Most constituents of the Nifty 50 were in the positive territory. While fast-moving consumer goods companies remained higher, shares of banks extended their gains during the second half of the trading session. Select metal and energy companies remained among the laggards though a few among them came off earlier lows.
At 1242 IST, the Nifty 50 was at 23366.55 points, up 0.5%, while the BSE Sensex was up 0.6% at 74379.17 points. All broader market indices underperformed their benchmark peers. The Nifty mid-cap indices were down 0.3–0.4%, while all small-cap indices were down 0.4-0.6%.
Hindustan Unilever, up 2.7%, remained at the top of the Nifty 50 index. Its peers Nestle India and ITC, up 2.2% and 1.5% respectively, were also among notable gainers. Axis Bank, Kotak Mahindra Bank, and ICICI Bank all extended their gains and were up 1.8–2.2%. Hindalco Industries, down 2.5%, came off earlier lows but remained at the bottom of the Nifty 50 index. Sector peer, Tata Steel, down 1.3%, also remained among the worst laggards. Notably, however, JSW Steel bucked the trend among its peers and gained nearly 2%, joining the top gainers in the 50-stock index.
Agrochemicals player Coromandel International gained 4.1% and was the top gainer in the Nifty 200 index. The stock rose amid news reports that the government may raise the fertiliser subsidy by 100% in 2026-27 (Apr-Mar) to address the supply shortages arising from disruptions due to the West Asia war. Fertiliser subsidy is seen at around INR 3.4 trillion from the Budget estimate of INR 1.71 trillion, a top government official told Informist.
Upstream player Oil India shed 4.2% and plunged to the bottom of the Nifty 200 index. Muthoot Finance, Bharat Heavy Electricals, and Kalyan Jewellers, down 3–3.4%, were also among the laggards. CarTrade Tech was up 8.5% and remained the top gainer in the Nifty 500 index. The stock hit its four-month high at INR 2393.70 during the session. HFCL remained the worst hit stock in the index after hitting its 5% lower circuit at INR 169.11. (Shruti Nair)
Equity Alert: Concord Biotech up 6%; US FDA OKs co's Tofacitinib tablets
MUMBAI--1200 IST--Shares of Concord Biotech rose 6% Wednesday to touch an over four-month high of INR 1,349.90 after the company received US Food and Drug Administration approval for its Tofacitinib tablets. The stock was up for the second session and gained nearly 13% during this period.
The company got US FDA approval for the abbreviated new drug application Tofacitinib tablets in strengths of 5 milligrams and 10 milligrams. The drug is indicated for the treatment of adults with active rheumatoid arthritis, psoriatic arthritis, ankylosing spondylitis, and ulcerative colitis, the company said Wednesday in a filing with the bourses. After this approval, the company plans to capitalise attractive market opportunities, enhance product offerings, and support growth in the US and international markets.
At 1157 IST, shares of Concord Biotech were almost 6% higher at INR 1,348 on the NSE. So far in the day, nearly 716,000 shares of the company have changed hands on the exchange, higher than over 217,000 shares traded till the same time Tuesday. (Arundathi A R)
Equity Alert: Fertiliser cos up as subsidy seen doubling in FY27
MUMBAI--1125 IST--Shares of fertiliser companies were up Wednesday on the back of news on the government may raise subsidy by 100% for the sector in 2026-27 (Apr-Mar). Shares of Chambal Fertilisers and Chemicals, Tata Chemicals, Fertilizers and Chemicals Travancore, Coromandel International, and National Fertilizers rose 2.1-4.2%.
Fertiliser subsidy is seen doubling in FY27 to around INR 3.4 trillion from the Budget estimate of INR 1.71 trillion, a top government official told Informist. The support for the fertiliser ministry through a hike in subsidy is in consideration due to a severe supply crunch owing to the closure of the Strait of Hormuz amid the ongoing West Asia war. The subsidy on each bag of urea went up to INR 4,500 from INR 2,900, The Hindu Business Line reported Wednesday, citing government sources. The global fertiliser supply has "narrowed," the media agency's source said, while adding that China has started supplying fertilisers after eight months.
The government's finances came under strain because of the ongoing war in West Asia. In April, the government's fiscal deficit nearly doubled on year to INR 3.62 trillion. However, the government's capital expenditure plans will continue as planned in FY27, the official told Informist. (Ruchira Kagita)
Equity Alert: Afcons Infra up; co bags INR-53-bln order from Vadhvan Port
MUMBAI--1115 IST--Shares of Afcons Infrastructure rose as much as 10% to hit an intraday high of INR 346.50 on the NSE. The stock was also among the top volume buzzers on the bourse. Over 19 million shares of the construction company changed hands, compared to merely about 67,000 shares till the same time Tuesday. The stock was one of the top gainers among the Nifty 500 constituents.
Afcons Infrastructure was in focus after the company bagged an order worth INR 53 billion to build a 10.14 kilometre-long breakwater at the upcoming Vadhvan Port in Maharashtra. Upon completion, this will be the second-longest breakwater in the world. A breakwater is a structure meant to protect the port from intense waves and currents.
"The Vadhvan breakwater project will be a strategic enabler for India's ambition to become a global maritime hub," Krishnamurthy Subramanian, the executive chairman at Afcons Infrastructure said in a press release. For the quarter ended March, the company posted a consolidated net loss of INR 884 million and revenues of INR 26.14 billion. At 1119 IST, shares of Afcons Infrastructure were off highs and up 5% at INR 331.55. (Ruchira Kagita)
Equity Alert: Indices remain higher; FMCG lead gains, metal cos main laggards
MUMBAI--1111 IST--Benchmark indices broadly maintained their gains seen in early trade. With majority of the constituents in the Nifty 50 in the positive territory, the benchmark index inched higher towards the 23400 level. Despite the latest escalations in West Asia, with the US launching retaliatory strikes against Iran, Brent crude Oil prices hovered around $91 per barrel, slightly down from Tuesday. While most Asian indices were down on Wednesday, taking cues from the sell-off in US technology stocks, domestic indices were marginally higher, buoyed by gains in fast-moving consumer goods companies. Metal and select financial services companies, however, limited the gains seen in the Nifty 50.
At 1110 IST, the Nifty 50 was at 23377.40, up 0.6, while peer BSE Sensex was at 74437.18, up 0.7%. Nestle India was up nearly 3% and was top gainer in the Nifty 50 index, while peers Hindustan Unilever and Tata Consumer Products rose 2.5% and 1.1%, respectively. The improvement in demand and pricing-led sales growth are expected to bode well for the sector at large, according to a report by brokerage Nomura. The brokerage has a positive view on Nestle India driven by a rise in its distribution reach, enhanced channel-wise assortment, and improved value-added product launches, among other reasons. FMCG stocks were also among the top gainers in the Nifty 200 index, with shares of Colgate-Palmolive India, Dabur India, and Marico gaining 1.4–3%.
Hindialco Industries shed 3.1% and was the worst hit stock in the Nifty 50, while sector peer Tata Steel shed 0.7%. Select financial services companies such as Shriram Finance and Jio Financial Services, down 0.4–0.5%, were also among notable laggards. Similarly, metal companies Hindustan Zinc, Vedanta, and National Aluminium Co. shed around 2–3% and were the worst performers in the Nifty 200 index.
CarTrade Tech gained 6.8% and was the top gainer in the Nifty 500 index, while HFCL hit its 5% lower circuit limit at INR 169.11 per share and plunged to the bottom of the index. (Shruti Nair)
Equity Alert: FMCG cos gain; Nomura sees volume growth, demand improvement
MUMBAI--1110 IST--Fast-moving consumer goods companies gained the most Wednesday and the Nifty FMCG index was the top gainer among sectoral indices. The sectoral index gained over 2% in the last seven days after logging a fall of nearly 4% in the last 30 days. Barring Radico Khaitan, all Nifty FMCG constituents traded higher.
Nestle India and Hindustan Unilever were the top two gainers in the Nifty 50 index. The stocks were up 2.0–2.5%. Shares of Tata Consumer Products and ITC were up around 1?ch in the index.
Broking firm Nomura Financial Advisory and Securities expects goods and services tax-led benefits to continue supporting volume growth of consumer companies. "While staples performed well during 4Q(Jan-Mar) vs 3Q(Oct-Dec) due to GST-led product price cuts along with grammage increases, companies also highlighted an improvement in the demand environment," the brokerage said in its report.
Nomura says the mid-single-digit price hikes taken by the consumer companies and the overall inflation are manageable and
may not materially pressurise their volumes as the staple categories are relatively less price elastic. The brokerage also expects a pricing growth return with no pushback on volumes to drive higher sales growth. However, a double-digit pricing growth could start pressurising volumes, the brokerage said.
The sequential recovery of volume growth is likely to continue, led by lower prices after the GST rate cuts, it said in the report. Summer-centric categories such as packaged water, cold coffees, cold drinks, juices, glucose, cooling hair oils, soaps, deodorants and sunscreens should benefit during a strong summer, Nomura said.
Meanwhile, the brokerage flagged some headwinds as well for the consumer goods companies. The El Nino and below-normal monsoon could impact rural agricultural yields this year and may add to the pressure on overall demand. Input cost inflation is likely to impact near-term margins and a harsh summer can lead to limited movements and impact out-of-home consumption categories.
At 1102 IST, the Nifty FMCG index was over 1% higher. Colgate Palmolive (India), Dabur India, Marico, Godrej Consumer Products, and United Spirits were 1.1–3.0% higher. (Arundathi A R)
Equity Alert: RIL rises 2%; co partners with Meta for data centre in Gujarat
MUMBAI--1015 IST--Index heavyweight Reliance Industries rose over 2% to hit an intraday high of INR 1,300.50. The conglomerate announced a partnership with the global tech giant Meta Platforms to set up a 168 megawatts data centre in Jamnagar, Gujarat. This is the first built-to-suit data centre capacity in India for Meta.
Reliance Industries will design, construct, and manage utilities such as renewable power supply and network connectivity while Meta will lease out the facility for operations, according to a release. "This world-class facility in Jamnagar will help us scale our AI infrastructure globally while deepening our long-term investment in India's economy," said Mark Zuckerberg, founder and chief executive officer of Meta Platforms.
At 1012 IST, shares of Reliance Industries traded over 1% higher at INR 1,286.50. Over 4 million shares of the company changed hands on the NSE, which is two times higher than the number of shares traded till the same time Tuesday. The stock rose for the second consecutive session after falling for nine consecutive sessions. During this nine-day losing streak, the company shed nearly 8%. (Adhithya Aji)
Equity Alert: CMR Green Tech lists at 43% premium to IPO price on BSE
MUMBAI--1010 IST--Shares of CMR Green Technologies listed at a premium of over 43% at INR 275.40 on the BSE Wednesday. At 1000 IST, the stock was over 36% higher at INR 261.85 on the bourse and over 1 million shares of the company changed hands so far in the session.
The initial public offer of CMR Green Technologies saw significant traction and was subscribed 127 times, closing on Friday. Around 2.93 billion bids were placed against the 23.04 million shares on offer. Prior to the bidding, the company raised INR 1.88 billion from anchor investors at INR 192 per share.
The company operates as a non-ferrous metal recycler, with most of its revenue generated by its aluminium business. For the nine months ended Dec. 31, the company reported a consolidated net profit of INR 1.48 billion on revenues of INR 62.76 billion. (Shruti Nair)
Equity Alert: Indices rise after muted opening; West Asia tensions escalate
MUMBAI--0937 IST--Benchmark indices were largely muted at open following an escalation in tension in West Asia. The US launched retaliatory strikes against Iran after Tehran downed a US military Apache helicopter. US President Donald Trump termed the attack as self-defence. The indices gained later. At 0935 IST, the Nifty 50 was at 23346.80, up 104.70 points or 0.5%, and the BSE Sensex was at 74330.49, up 411.73 points or 0.6%.
Fast-moving consumer goods companies Hindustan Unilever and Nestle India were the top gainers among the Nifty 50 constituents, up around 2?ch. Index heavyweight Reliance Industries rose nearly 2%. The conglomerate entered into a partnership with Meta Platforms to develop a 168 megawatt data centre in Gujarat.
On the other hand, Hindalco Industries was the worst-hit among the Nifty 50. The stock fell nearly 4%. Adani Enterprises, Tata Steel, Coal India, Eternal, and Tata Motors Passenger Vehicles fell around 1?ch.
The broader market indices were in the red. The Nifty smallcap indices fell 0.1-0.3%, and the Nifty midcap indices were down 0.2-0.3%. Among the sectoral indices, Nifty FMCG was the top gainer, up nearly 2%. Meanwhile, Nifty Metal fell over 1%, making it the worst-hit.
Colgate Palmolive (India) rose 3% and was the top gainer in the Nifty 200. Dabur India and ICICI Prudential Asset Management rose over 2?ch. Hindalco Industries was the biggest laggard in the Nifty 200 as well. Hindustan Zinc fell over 3%. In the Nifty 500, Afcons Infrastructure was the top gainer, up over 8%. The company received an order worth INR 53 billion to build a breakwater in Vadhvan Port. HFCL was the worst hit in the Nifty 500, down 5%. (Adhithya Aji)
Equity Alert: Seen in range; escalation in West Asia war to dampen sentiment
MUMBAI--0840 IST--Domestic stock indices are likely to move in a range Wednesday after new strikes and retaliatory attacks between the US and Iran earlier in the day. The GIFT Nifty levels also indicated a rangebound movement for the session. On other hand, US Vice-President J.D. Vance said the US-Israel war on Iran could conclude in a week or a few months, which is expected to give room of hope for investors. However, crude oil prices continued to hover near $92 a barrel, though it rose over 1% from its previous close. All Asian equity markets were down in the early trade. At 0836 IST, Brent crude oil August futures were 1% higher at $92.29 a barrel.
US Central Command said its "forces began launching self-defense strikes against Iran" in response to "yesterday's downing of a US Army Apache helicopter," Al Jazeera reported. US President Donald Trump earlier said that the US "must respond" to the alleged attack, but later seemed to downplay it, saying it "wasn't a big deal." The "self-defense strikes" are "a proportional response to unjustified Iranian aggression," CNBC reported, citing Centcom as said in an X post.
"The latest clash undermines the US ceasefire with Iran — which remains nominally active despite numerous outbreaks of fighting — and could put even a temporary peace deal even farther out of reach," CNBC reported. According to Iran's Tasnim News Agency, Iran will respond to the US military actions, according to the report.
Prior to these attacks, US Vice President Vance, in an interview with CBS News, has said the war would conclude in a week or a few months. "Vance claimed the US was "very close to achieving" a peace deal with Iran, adding that it could "absolutely" come before the midterm elections," according to a report by The Guardian. "Right now, I feel that we are in a position to get a deal that is good for the United States economically and that really does deal with the Iranian nuclear program," The Guardian reported, quoting Vance.
At 0835 IST, GIFT Nifty June futures were 0.3% higher from the previous close at 23256.50. This was 14 points higher than the Nifty 50's previous close of 23242.10. Analysts see the Nifty 50 to find support at 23100–23150 levels and to face resistance at 23300–23500 levels. "Markets are expected to trade with optimism led by the banking space," said Ruchit Jain of Motilal Oswal.
Among the Asian equity indices, South Korea's KOSPI was the top loser, down 3.5%. TAIEX, Nikkei 225, and FTSE Singapore Strait Times were down over 1%. Among the US indices, the Nasdaq Composite and S&P 500 indices closed lower Tuesday, while the Dow Jones Industrial Average settled marginally higher. (Arundathi A R)
Equity Alert: Most Asian mkts dn on US tech cos fall, escalation in Iran war
MUMBAI--0814 IST--Most indices in Asia fell, taking cues from the sell-off in technology stocks on Wall Street overnight. The South Korean benchmark index KOSPI, which ended over 8% up Tuesday, slipped 3% during the initial hours of trade Wednesday morning. Further, the US launching a fresh attack against Iran in what it called self-defence worsened sentiment in the region. Brent Crude Oil futures inched up slightly and hovered near $92 per barrel.
"CENTCOM (US Central Command) forces struck Iranian air defense, ground control stations, and surveillance radar sites near the Strait of Hormuz with precision munitions from U.S. Air Force and Navy fighter jets. The operation was a proportional response to recent attacks on U.S. forces," the US Central Command said in a statement. US President Donald Trump had said in a post on Truth Social that Iran struck down a US Apache Helicopter.
Meanwhile, China's producer prices rose for a third straight month in May by 3.9% on year to their highest level since July 2022. Consumer prices rose 1.2% on year and was lower than expected. Economists had projected retail inflation climbing 1.3% on an annualised basis in May. The recent inflation print indicates that high energy prices continued to increase costs for businesses and households, as per Reuters. China's CSI 300 index was down almost 1% and the SSE Composite around 0.5%.
In Japan, producer prices climbed 6.3% on year in May, according to data from the Bank of Japan. This is much higher than the 5.3% on-year increase posted in April and was also significantly more than the 5.3% rise polled by Reuters. "The continued strength in producer price inflation makes it all but certain that the Bank of Japan will hike rates at its meeting next week," Abhijit Surya, senior Asia-Pacific economist at Capital Economics, told Reuters. The country's benchmark Nikkei 225 index was down 1%.
The following were the levels of major Asian indices at 0812 IST:
| Index | Level | Change in % |
| CSI 300 Index | 4750.1757 | (-)1.08 |
| Hang Seng Index | 24349.87 | (-)0.88 |
| Nikkei 225 Day | 64714.86 | (-)1.07 |
| TOPIX FIRST SECTION | 3864.09 | (-)0.82 |
| KOSPI | 7804.98 | (-)3.61 |
| FTSE Singapore Strait Times | 4969.49 | (-)1.07 |
| S&P/ASX 200 Index | 8634.80 | 0.36 |
(Ruchira Kagita)
Equity Alert: Tech stock sell-off resumes on Wall Street, NASDAQ down 1%
MUMBAI--0735 IST--The breather for technology stocks on Wall Street lasted only a day as selling resumed in the sector Tuesday. The NASDAQ Composite closed 1% lower, while the S&P 500 ended 0.3% lower. The Dow Jones Industrial Average, meanwhile, ended in the green. Shares of Advanced Micro Devices fell 3%, Micron Technology declined over 1%, and Qualcomm fell almost 6%. Marvell Technology, which advanced as much as 9.6% Monday, fell almost 8%. The CBOE Volatility Index, often referred to as the Wall Street fear gauge, hit its highest level since Apr. 7 on Tuesday, according to Reuters.
The Philadelphia Semiconductor Index fell nearly 2?ter closing almost 6% higher Monday. The S&P 500 Information Technology index was also down nearly 2%. On the other hand, retail stocks in the Dow Jones displayed positive momentum. Shares of Home Depot and paint maker Sherwin-Williams rose almost 4?ch. Johnson & Johnson, Procter & Gamble, and Coca-Cola also advanced around 2?ch.
"If we're talking about the substance of what we've seen over the past few weeks, it's really been concentrated in that memory, semiconductor area that's lifted the market. It's been the real force behind everything, and really it's run so hard that it feels very toppy at this moment," Marta Norton, chief investment strategist for Empower Investments, told CNBC.
In other news, Anthropic said it launched a new model, Claude Fable 5, for general use ahead of its initial public offering. The company said it will deploy the model through Project Glasswing, in collaboration with the US government, as an upgrade to Claude Mythos Preview. The model has the strongest cybersecurity capabilities, the company said. Project Glasswing is Anthropic's partnership with over 40 organisations which use its artificial intelligence to secure software.
The following were the closing levels of major US indices on Tuesday:
|
US Indices |
Levels |
Change in % |
|
Dow Jones Industrial Average |
50872.11 | 0.17 |
|
NASDAQ Composite |
25678.82 | (-)0.97 |
|
S&P 500 |
7386.65 | (-)0.26 |
(Ruchira Kagita)
US$1 = INR 95.27
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Akul Nishant Akhoury
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