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Informist, Friday, Jun. 19, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: US indices end higher Thu led by gains in chip stocks

 

MUMBAI--0730 IST--US stock indices ended higher on Thursday, recovering from a sell-off seen in the previous session after the US Federal Reserve hinted at the possibility of rate hikes this year. All three major indices in the US ended higher, led by gains in semiconductor companies. The interim peace deal between the US and Iran also buoyed investor sentiment.

 

Of the three indices, the Nasdaq Composite saw the highest gains, ending nearly 2% higher and the Philadelphia Semiconductor index outperformed sectoral indices in the region and ended over 6% higher. This was after US President Donald Trump said Intel and Apple would collaborate to manufacture and design chips in the US. Shares of Intel ended the session nearly 13% higher, while those of Apple closed nearly 1% higher. Peer semiconductor names such as Nvidia and Micron Technology also ended higher, up nearly 3% and 9%, respectively. 

 

According to a report by Reuters, the first ships have started to sail through the Strait of Hormuz following the interim agreement signed between the US and Iran, which extends the ceasefire announced in April by another 60 days to allow the two parties to arrive at a final deal. Earlier in Thursday's session, oil prices had slid to their lowest level in three months. The surge in oil prices since the start of the West Asia conflict had stoked inflationary concerns among investors.

 

Further, commentary by Fed Chair Kevin Warsh after Wednesday's policy announcement also underscored policymakers' intention to curb inflation and hinted at rate hikes in the year. "Markets got spooked by Warsh yesterday essentially promising to contain inflation," Tony Welch, chief investment officer at SignatureFD told Reuters. However, Welch also highlighted easing oil prices and recent strength in earnings and economic data. "All together, the package of data is still supportive whether or not the Fed has become a little bit more hawkish."

 

On Friday, the market will be closed in observance of the Juneteenth holiday that commemorates the end of slavery in the US.

 

Following were the closing levels of major US indices on Thursday:

 

US Indices	Levels	Change in %
Dow Jones Industrial Average	51564.7	0.14
NASDAQ Composite	26517.93	1.91
S&P 500	7500.58	1.08

 

(Shruti Nair)

 

US$1 = INR 94.33

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

 

Edited by Avishek Dutta

 

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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