Equity Alert
Indices hit over-1-month high as metal cos recover losses
This story was originally published at 11:36 IST on 17 June 2026
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Equity Alert: Indices hit over-1-month high as metal cos recover losses
MUMBAI--1110 IST--Domestic stock indices gained further with both benchmarks hitting their respective over-one-month highs. Metal stocks recovered from their earlier losses and helped the Nifty 50 index gain slightly. After opening lower, the Nifty Metal index recouped and was up 1%. Meanwhile, information technology stocks continued to rise. A nearly 1% gain in the index heavyweight HDFC Bank also supported the 50-stock index.
At 1048 IST, the Nifty 50 index was at 24077.75, up 88.60 points, or 0.4%. The BSE Sensex was at 77096.77, up 288.29 points, or 0.4%. Among the Nifty 50 stocks, 30 of them were trading higher, and so were the 20 stocks in the 30-stock Sensex. Intraday, both Nifty and Sensex hit over-one-month high at 24097.40 points and 77176.51 points, respectively.
Barring Nifty Realty, Nifty Healthcare, and Nifty Pharma, all sectoral indices were in the positive territory. Among the pack of gainers, the Nifty Consumer Durables gained the most, over 2%. India VIX, the fear gauge of the domestic equity market, however, signalled a rise in investor nervousness. The volatility index rose nearly 1% to 13.4475.
Trent remained the biggest gainer in the Nifty 50 index, up over 4%. It was followed by Eternal with over 2% gains, rising for the fourth session in a row. Metal companies Hindalco Industries, Tata Steel, and JSW Steel helped the index to gain slightly. The stocks were up 0.7-1.6%.
Major healthcare stocks Cipla and Dr.Reddy's Laboratories fell nearly 1% in the 50-stock index. The Nifty Healthcare and Nifty Pharma indices were marginally down among the sectoral indices. (Arundathi A R)
Equity Alert: Realty stocks fall after 3-day rally; view on sector bullish
MUMBAI--1109 IST--Realty stocks traded on a negative note Wednesday after gaining for three consecutive sessions, during which the Nifty Realty gained 10%. This was higher than the gains of nearly 4% in the benchmark Nifty 50 over the last four sessions. A technical analyst maintains a buy-on-dip approach to the realty sector and indicates a bullish trend ahead.
"Nifty Realty index is trading on the verge of breakout from inverted head & shoulder formation," said Vipin Kumaar, senior technical and derivatives analyst at Globe Capital Market. A decisive close above 820 may take the Nifty Realty to 860 and more in the near term, according to Kumaar. "Considering the current chart structure, we suggest traders to maintain buy on dips trading approach in realty space," he added.
At 1102 IST, the Nifty Realty was at 813.30, down 0.6%. Seven constituents of the 10-stock index were down, with Lodha Developers the worst hit, down nearly 3%. Anant Raj, Oberoi Realty, Prestige Estates Projects, Aditya Birla Real Estate, Godrej Properties, and DLF fell 1-2%. On the other hand, Phoenix Mills and Brigade Enterprises rose over 1% and nearly 5.5%, respectively. Brigade Enterprises was the top gainer among Nifty 500 constituents as the stock is traded excluding its bonus issue of shares. (Adhithya Aji)
Equity Alert: Pine Labs up after analyst meet, brokerages maintain 'buy'
MUMBAI--1033 IST--Pine Labs, in its meeting with analysts Tuesday, touched upon its business model, vision, and growth opportunities. The management said there is good scope for the company in the global and Indian financial technology space. Shares of the company rose over 4% to INR 156.6 and at 1029 IST, the stock was up 1.3% with trading volumes of over 16 million. Brokerages have maintained their 'buy' recommendation on the stock.
The company is seeing strong traction in its online business, and said it beat competition to win more than 25 large enterprise deals. The management expects profitability to be driven by operating leverage. While Pine Labs' market share in online payments stands at 5%, the management sees this growing going forward. Affordability also remains a key growth driver for the company.
Employee benefits, gaming, and expansion into the US are some of the key growth levers for the company, brokerages highlighted. The company also sees growth opportunity among small retailers and premium high-street merchants. The management said that Amrish Rau will continue to be the chief executive officer of the company.
Emkay Global Financial Services expects the company's revenue to grow at a compounded annual rate of 20.3% over 2025-26 (Apr-Mar) and FY28. Its earnings before interest, tax, depreciation, and amortisation are expected to increase at a compounded annual rate of 41.8%. "...we believe the risk-reward remains compelling," the brokerage said. Emkay Global maintains a 'buy' call on the stock with a target price of INR 225.
The company may also have opportunities for acquisitions in international markets, Citi said in a report. The brokerage expects Pine Labs' revenue to grow at a compounded annual rate of 18.5% over FY26-28, and adjusted EBITDA margin to rise to 26% in FY27 and to 30% in FY28. Citi has a 'buy' stance on the stock with an unchanged target price of INR 235. "Pine Labs has opportunities to increase attach rates (new monetization streams) across its merchant, bank and brand partnerships," the brokerage said. (Ruchira Kagita)
Equity Alert: Cyient down nearly 6% on record date of co's share buyback
MUMBAI--1022 IST--Shares of Cyient shed nearly 6% and hit an intraday low of INR 855.15 on Wednesday, the record date for its share buy back. In April, the company's board had approved the buyback of 6.4 million shares at INR 1,125 per share, amounting to INR 7.2 billion. Last week, the company received shareholders' approval for the same and set the record date.
At 1000 IST, shares of the company were down over 5% at INR 859.10 and the stock was the worst-hit Nifty 500 constituent. Over 490,000 shares of the company have exchanged hands so far Wednesday on the NSE, nearly twice the number of shares traded until the same time Tuesday.
Of the nine brokerage recommendations available with Informist on the company, four have a "hold" recommendation on the stock with an average target price of INR 1,106, up nearly 29% from the current market price. Of the remaining five, three have a "buy" recommendation and two have a "sell" recommendation on the stock. (Shruti Nair)
Equity Alert: Most IT cos rise for 3rd day amid optimism over US-Iran deal
MUMBAI--1020 IST--Most information technology stocks rose for the third consecutive session amid optimism over a US-Iran peace deal likely to be signed Friday, easing inflation concerns globally. Further, valuations of these stocks have become cheap post their recent sharp fall, making them attractive for investors, two analysts covering the sector at domestic brokaerges said.
Recent acquisition announcements, including HCL Technologies' plan to invest INR 14.27 bln to buy 10.5% stake in artificial intelligence startup Sarvam AI, is also keeping the stocks in the sector in focus, Rishubh Vasa, research analyst at Indsec Securities, said.
On Tuesday, the Nifty IT index rose as much as 1.5% to a high of 29007 points. At 1012 IST, the IT index was 0.7% higher at 28777.20 points, among the top gaining sectoral indices. This marked the third consecutive session of rise for the index, during which it gained 4.4%.
Except for Mphasis and Oracle Financial Services, all constituents of the IT index traded with gains, up 0.1-1.4% at 1012 IST. Gains in the sectoral index was led by large-cap IT majors such as Tech Mahindra, Infosys, Wipro, and Tata Consultancy services, which rose around 1?ch. (Arya S. Biju)
Equity Alert: Indices open higher for 4th day with marginal gains; IT cos up
MUMBAI--0940 IST--Domestic benchmark indices extended their gains to a fourth session Wednesday amid a significant fall in crude oil prices to $78 a barrel and hopes of a possible US-Iran deal on Friday. The indices, however, opened with only marginal gains, tracking mixed signals from Asian markets.
At 0947 IST, the Nifty 50 was 0.3% higher at 24063.45, up 74.30 points. The BSE Sensex was also 0.3% higher at 77055.51, up 247.03 points. Over half the Nifty 50 constituents were trading higher during the open.
Broader market indices showed a slightly better performance than their benchmark peers, up 0.3–0.6%. All the broader indices also extended their gains to a fourth straight session Wednesday. Meanwhile, sector-wise performance was mixed during the early hours of trade.
The Nifty Consumer Durables and Nifty IT were the top gaining sectors, up 1.5-2.0%. On the other hand, the Nifty Realty index fell nearly 1?ter three straight sessions of rise. The Nifty Metal index continued its fall for the second session, and was also among the top losers.
Trent gained the most in the Nifty 50 index, up over 3%, and information technology stocks were also among the biggest gainers in the Nifty 50 index. Infosys, Tech Mahindra, and Tata Consultancy Services gained 1?ch, while Wipro and HCL Technologies were almost 1% higher each. The Nifty IT gained for the third straight session, with all its constituents up.
Fast-moving consumer goods stocks Hindustan Unilever and Nestle India also gained around 1?ch. The Nifty FMCG index was higher for the fourth session in a row, though only marginally.
In the Nifty 200 index, consumer durables stocks gained the most. Dixon Technologies (India), Trent, and Voltas were the major gainers, up nearly 4?ch. Newgen Software Technologies, Brigade Enterprises, and CarTrade Tech gained 6–7% in the Nifty 500 index.
In the Nifty 50, Tata Motors Passenger Vehicles was the biggest drag, down almost 1%. Oil and Natural Gas Corp. and NTPC were the other losers, shedding around 1%. Realty companies declined more in the Nifty 200 index. Lodha Developers and Oberoi Realty fell 2–2.5%. Meanwhile, in the Nifty 500 index, Cyient declined 5% as the stock traded without the value of the buyback issue. (Arundathi A R)
Equity Alert: Indices may open largely flat on mixed cues from global mkts
MUMBAI--0829 IST--The domestic equity market may open largely flat Wednesday, tracking mixed global market cues, as investors await the US Federal Reserve's policy meeting outcome later in the day. Crude oil prices hovered around $79 per barrel, the lowest price since early March, when the US-Iran war started.
According to the 14-point draft memorandum between US and the Iran seen by Bloomberg News, the warring parties will negotiate and reach a final agreement within 60 days, extendable by mutual consent, remove naval blockade, neutralise Iranian mines, the US and its partners will fund $300 billion for rehabilitation and economic development of Iran, and Iran will never produce nuclear weapons, among others.
While the US-Iran memorandum of understanding to end the conflict is "clearly positive, we need to see evidence that it holds," Dow Jones Newswires cited members of HSBC Global Investment Research as saying in a report. "Even if traffic of navigation is restored, normalising flows (through Strait of Hormuz) will take time," they say.
In Asia, major stock indices were largely mixed in early trade as investors awaited the outcome of the US Fed policy meeting, the first under newly appointed Chair Kevin Warsh. While the Fed is widely expected to hold the benchmark interest rate steady, market participants will pay close attention to the forward guidance and commentary on the trajectory of monetary policy, Siddhartha Khemka, head of research, wealth management, at Motilal Oswal Financial Services, said in a note. US stock futures were largly flat in early trade.
The June futures contract of the Gift Nifty indicates a largely flat opening for the domestic market. At 0813 IST, the contract was at 24001.50 points, just around 12 points higher than the Nifty 50's previous close. As long as the Nifty 50 sustains above key support level of 24000 points, the momentum is likely to remain favorable, with the next major resistance placed around 24500 points, which could be tested in the coming sessions, Sundar Kewat, technical and derivatives analyst at Ashika Institutional Equity Research, said.
Currently, the Nifty 50 index is trading in a narrow congestion range of 200 points, specifically between the 23800 and 24000 spot levels. A decisive close above the 24050 spot level could lead it toward 24400 points in the immediate near term, Vipin Kumar, technical and derivatives analyst at Globe Capital Market, said. On the lower side, sustained trading below 23800 points could drag the index down to the 23600–23500 levels, he added. (Arya S. Biju)
Equity Alert: Most Asian indices gain as crude oil prices stay below $80/bbl
MUMBAI--0830 IST--Most Asian stock indices were up after broadly opening lower on Wednesday, with crude oil prices remaining below $80 per barrel amid expectations of the peace deal between the US and Iran to be finalised on Friday. Global investors await the decision of the US Federal Reserve at the end of its two-day meeting, with most expecting the regulator to hold interest rates unchanged at the target range of 3.5–3.75%.
On Tuesday, US President Donald Trump said he would be open to sharing details of a new US-Iran peace deal with the Congress, after some key members called for an opportunity to review the deal before it is finalised, CNBC reported. Earlier, Trump had said that the agreement with Iran would ensure that the Strait of Hormuz will remain permanently toll-free. However, he warned that if Iran failed to arrive at a final nuclear accord with the US, he would resume military attacks on Tehran.
Japan's Nikkei 225 and its broader market peer Topix were among the top gainers in the region, up nearly 1?ch. On Tuesday, the Nikkei 225 hit a record intraday high after the Bank of Japan decided to increase the policy interest rate to 1% amid inflationary pressures.
Australia's S&P/ASX 200 was also among the gainers in the region after the Reserve Bank of Australia held rates at 4.35% on Tuesday. The central bank stated that it was ready to raise rates to manage price stability and full employment. Taiwan's Taiex and Hong Kong's Hang Seng remained the only laggards in the region, down 0.4% and 0.7%, respectively.
Following are the levels of key indices in the region at 0828 IST:
| Index | Level | Change in % |
| CSI 300 Index | 4899.87 | 0.32 |
| Hang Seng Index | 24314.37 | (-)0.73 |
| Nikkei 225 Day | 69926.08 | 0.75 |
| TOPIX FIRST SECTION | 4021.16 | 0.75 |
| KOSPI | 8739.58 | 0.15 |
| FTSE Singapore Strait Times | 5181.93 | 1.27 |
| S&P/ASX 200 Index | 8972.5 | 0.61 |
(Shruti Nair)
Equity Alert: US mkts mixed; Dow Jones hits new high, chip cos pull Nasdaq dn
MUMBAI--0745 IST--US indices ended mixed on Tuesday as oil prices continued to decline on expectations of the US and Iran finalising their peace deal. Some investors moved out of technology stocks in preference of cyclical stocks. While the blue-chip Dow Jones Industrial Average touched a new intraday high and ended higher, its tech-heavy peer Nasdaq ended lower, as did the S&P 500.
Oil prices continued to fall and closed at their lowest levels since Mar. 2. At 0741 IST, Brent crude futures were at $78.98 per barrel, flat from Tuesday, having shed over 15% this week. US President Donald Trump had said that the Strait of Hormuz will reopen on Friday and will be toll-free. "We're not out of the woods yet," Andy Goldberg, chief investment strategist at Nomura Asset Management International told CNBC. "If all of a sudden oil prices were to come down quickly, the headline inflation number will come down, but at the same time, it'll put a lot of money back in consumers' pockets right at a time where they're feeling pretty good, and that's how you can get some more inflation," he added. "[Federal Reserve Chair Kevin] Warsh has a balancing act on his hands."
Wednesday's Federal Open Market Committee meeting will be the first with Kevin Warsh as the chairman of the US Federal Reserve. Investors are largely expecting the central bank to keep interest rates unchanged in a target range of 3.5% to 3.75%.
As oil prices slid, construction major Caterpillar led the gains among industrials and closed over 1% higher, according to the CNBC report. Meanwhile, JPMorgan Chase led the gains among banks, ending nearly 4% higher. The stock rose amid investor expectations that lower energy prices would trigger a re-acceleration in the US economy. Elon Musk's SpaceX continued its rally since going public and ended nearly 5% higher at $201.80 per share, up nearly 50% from its issue price of $135 per share.
On the other hand, chip stocks suffered losses on Tuesday. Sector giant Nvidia ended more than 2% lower, while peers Advanced Micro Devices, Broadcom, and Micron Technology ended 4–7% lower.
Following were the closing levels of US indices on Tuesday:
|
US Indices |
Levels |
Change in % |
|
Dow Jones Industrial Average |
51999.67 | 0.64 |
|
NASDAQ Composite |
26376.34 | (-)1.15 |
|
S&P 500 |
7511.35 | (-)0.57 |
(Shruti Nair)
US$1 = INR 94.44
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Deepshikha Bhardwaj
All prices from National Stock Exchange, unless otherwise specified.
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