Equity Alert
Positive bias seen next week; crude oil, peace talks eyed
This story was originally published at 17:39 IST on 19 June 2026
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Equity Alert: Positive bias seen next week; crude oil, peace talks eyed
MUMBAI--1700 IST--Most analysts expect positive momentum to return to the domestic equity market next week despite the nearly 1?ll Friday. However, some see investors taking a cautious stance as the cancellation of US-Iran peace talks in Switzerland hangs over market sentiment. Brent crude oil climbing back to $80 a barrel from the previous session's low of $76 a barrel added to the concern.
"Some bounceback can be seen next week if the Nifty 50 closes above 24000 points," Nandish Shah, senior derivative and technical analyst at HDFC Securities, said. Shah expects a further up move to the 24250-point level. The Nifty 50 is expected to find support at 23700 points, he said.
"Going forward, investors will closely monitor FII (foreign institutional investor) flows, monsoon progress, crude oil prices and management commentary from key corporates, particularly Reliance Industries' AGM, for further market direction," Vikram Kasat, head of advisory at PL Capital, said in a note.
Vinod Nair of Geojit Investments sees investors adopting a cautious tone, with participants awaiting more clarity on the peace deal and monitoring the slow progress of the southwest monsoon, he said in a note.
Friday, the Nifty 50 settled 0.6% lower at 24013.10, down 154.90 points. The BSE Sensex ended 0.8% lower at 76802.90, down 607.08 points. "In spite of good indications like decline in the prices of crude oil and improved geopolitics during the first part of the week, investors decided to take profit booking due to the rally in the past sessions," Kasat said in his note. "Nevertheless, overall market resilience, liquidity from within the country, and positive outlook regarding corporate earnings continue to favor the market."
The domestic currency settled at 94.32 a dollar Friday. "With risk-on sentiment back in the driver's seat, we expect the local rupee to march toward 94 on the back of dollar inflows," Dilip Parmar, research analyst at HDFC Securities, said in a note. (Arundathi A R)
Equity Alert: Nifty 50 June ends at premium of 63.90 points to spot index
MUMBAI--1647 IST--The June futures contract of the Nifty 50 closed at a premium of 63.90 points to the spot index Friday. Open interest in the contract rose 1% to 16.68 million, according to provisional data.
--Nifty 50 closed at 24013.10 points, down 154.90 points or 0.6% vs Thursday
--Nifty 50 June closed at 24077.00 points, down 115.50 points or 0.5% vs Thursday
Nifty 50 options, expiring Tue, with maximum change in open interest:
Call: 24000, Put: 23500
Nifty 50 options, expiring Tue, with maximum open interest:
Call: 25000, Put: 24000
(Simran Rede)
Equity Alert: Indices settle lower after 5 days of gains; IT cos major drag
MUMBAI--1550 IST--After remaining in a range for most part of the session Friday, benchmark equity indices settled off lows. The indices were down around 1%, but came off lows in the final 30 minutes of trade. Owing to a major decline in most information technology stocks, the indices closed lower after five straight sessions of gains. However, the Nifty 50 index ended the week with nearly 2% gains.
On Friday, the Nifty 50 settled 0.6% lower at 24013.10, down 154.90 points. The BSE Sensex ended 0.8% lower at 76802.90, down 607.08 points. More than half the Nifty 50 stocks ended the session lower. From being 7% higher earlier, volatility index India VIX came off highs and settled over 2% higher at 12.9700.
All the broader market indices were higher at the close. Small-cap indices were 0.5% higher, while mid-cap indices closed marginally higher. Most sectoral indices ended lower, with the Nifty IT being the worst performer, down nearly 4%.
IT companies fell after sector bellwether Accenture cut its revenue growth guidance for the financial year 2025–26 (Sept-Aug) and hinted at near-term growth pressure in its management commentary Thursday. Infosys was the key drag in the Nifty 50 index and closed nearly 7% lower. The stock has been down since Thursday, after rising for the past four sessions.
Other IT majors such as Tata Consultancy Services, Tech Mahindra, HCL Technologies, and Wipro ended 1.1–3.5% lower. In the Nifty 200, LTM closed over 4% lower, while Coforge was down over 1%.
In the Nifty 500 index, Fertilizers and Chemicals Travancore ended as the major laggard, down over 7%. Bata India, ICICI Prudential Life Insurance Co., and Balrampur Chini Mills ended 4-5% lower.
Index heavyweight Reliance Industries recovered for a brief period after news of the board's approval for its material subsidiary, Jio Platforms, to file a draft red herring prospectus for an initial public offering. However, shares of the company declined quickly and settled over 1% lower.
Its heavyweight peer Bharti Airtel rose further in the final hour of trade and settled around 2% higher, preventing the Nifty 50 index from falling more. The stock ended as the second-biggest gainer in the Nifty 50 index, while Eternal ended as the top gainer, up over 2%.
According to a report by NDTV profit, the Sensex rebalancing on Friday is expected to trigger significant passive fund flows, with Bharti Airtel emerging as the biggest beneficiary among index constituents. Eternal was also expected to attract inflows of $5 million, the report said. (Arundathi A R)
Equity Alert: European markets mixed amid uncertainties regarding US-Iran deal
MUMBAI--1505 IST--Indices in Europe were mixed in early trade amid uncertainties regarding the US-Iran peace deal. On Friday, talks scheduled in Switzerland between the US and Iran were called off after US Vice-President J.D. Vance pulled out of the scheduled trip to Geneva, with the White House citing unresolved logistical issues around negotiations.
The pan-European Stoxx 600 fell further from its opening levels, down 0.3% from 0.1?rlier. The technology and utilities sectors were among the main laggards in the region, with their sectoral indices shedding 0.5% and 0.2%, respectively. Italy's FTSE MIB index rose 0.8% and led the gains in the region. On the other hand, Switzerland's SLI PR was the worst hit among peers, down 0.2%.
The UK's FTSE 100 was also among the laggards in the region, down marginally. On Thursday, the Bank of England left interest rates unchanged at 3.75%, in line with expectations. However, in its commentary, the central bank indicated that inflationary pressures are likely to persist amid elevated energy prices. "The impact on the economy and inflation will depend on how long energy prices stay raised...monetary policy cannot affect global energy prices; our job is to make sure that higher inflation does not persist and have long-lasting effects on the economy," the central bank said, according to the minutes.
Following are the levels of major European indices at 1450 IST:
| Index | Level | Change in % |
| FTSE 100 Index | 10389.97 | (-)0.09 |
| CAC 40 | 8478.08 | 0.12 |
| FTSE MIB INDEX | 53124.71 | 0.83 |
| DAX PERFORMANCE-INDEX | 25075.12 | 0.19 |
| SLI PR | 2211.88 | (-)0.17 |
(Shruti Nair)
Equity Alert: Indices off lows; RIL falls 1?ter recovering on Jio IPO news
MUMBAI--1500 IST--The Nifty 50 came off lows as index heavyweight Reliance Industries recovered after news of the board's approval for its material subsidiary, Jio Platforms, to file a draft red herring prospectus for an initial public offering. However, after a brief period of recovery, Reliance Industries fell nearly 1% again. An over 1% rise in heavyweight peer Bharti Airtel, however, helped the index to remain off lows slightly.
At 1442 IST, the Nifty 50 was at 23972.65, down 195.35 points or 0.8%. The BSE Sensex was at 76689.13, down 720.85 points or 0.9%. India VIX came off highs and was up 4.5%.
Jio Platforms will file a draft red herring prospectus with the Securities and Exchange Board of India for an initial public offer comprising a fresh issue of 270 million shares. In its annual general meeting, RIL Chairman Mukesh Ambani said Jio Platforms would file the draft papers Friday.
Information technology stocks, which were the major laggards during the session, also came off lows. The Nifty IT index was over 4% lower. Barring Oracle Financial Services Software, all other stocks were trading lower in the sectoral index.
From the earlier fall of 8%, Infosys came slightly off lows but remained the key drag in the Nifty 50 index. Tata Consultancy Services, Tech Mahindra, HCL Technologies, and Wipro were down 2–5%. (Arundathi A R)
Equity Alert: Marico falls; FSSAI issues notice for food safety act violation
MUMBAI--1453 IST— Marico stock suddenly fell and hit an intraday low of INR 805.40, down nearly 2?ter the Food Safety and Standards Authority of India issued a notice to the company alleging violation of the Food Safety and Standards Act, 2006. At 1451 IST, shares of the company were off their day's low at INR 814.80, down 0.7% from the previous close.
The food safety authority flagged potential misleading heart-health claims and labelling issues for Marico's Saffola Total Heart Oil, according to a post on X by ET NOW. During the March quarter, the volume of Marico's Saffola edible oil grew in mid single digit and its value rose 8% on year.
The FSSAI also issued notices to multiple food companies, including Pluckk, Natural Paneer, Gaur Healthy Food, MasterChow Foods, Bikanervala, and Param Premium, alleging violation to the food safety act. The authority has questioned the "no added sugar" claim by Pluckk for its mango juice, the "natural" tag for a composite product by Natural Paneer, and claims of unsubstantiated anti-cancer for Gaur Healthy Food's silken tofu.
MasterChow Foods' noodles were questioned over "100% natural" and "organic" claims, Bikanervala was issued a notice over hygiene concerns, and Param Premium was flagged over alleged fungal contamination in dahi and rabri. (Simran Rede)
Equity Alert: Most Asian indices end lower after US-Iran talks called off
MUMBAI--1410 IST--Most stock indices in Asia closed lower on Friday as oil prices rose amid uncertainties regarding the peace deal in West Asia. Investor optimism around the peace deal was hit after US-Iran talks scheduled for Friday were called off. US Vice President J.D. Vance pulled out of a scheduled trip to Switzerland to meet Iranian negotiators. Strikes traded between Israel and Hezbollah in Lebanon also weighed on sentiment.
South Korea's Kospi ended marginally lower on Friday after hitting a record high earlier in the session. Index heavyweight Samsung Electronics, which was among the gainers in early trade, ended over 2% lower. Japan's Nikkei 225 closed modestly higher after hitting record intraday highs for five sessions in a row. Markets in China, Hong Kong, and Taiwan were closed on account of a holiday.
According to reports, oil tankers have started sailing through the Strait of Hormuz after the US lifted its blockade on Iran. However, oil prices resumed their climb, briefly crossing $80 per barrel during the day. "We concede that there will be a number of ships eager to leave the Gulf's warm waters, and we think crude will struggle to find its footing amid a flurry of 'open for business' headlines, and yet we question the durability of the deal," Reuters reported, citing a note by analysts at RBC Capital Markets.
Following are the levels of key indices in the region at 1405 IST:
| Index | Level | Change in % |
| Nikkei 225 Day | 71250.06 | 0.28 |
| TOPIX FIRST SECTION | 4044.96 | (-)0.57 |
| KOSPI | 9052.42 | (-)0.13 |
| FTSE Singapore Strait Times | 5183.01 |
(-)0.57 |
| SP /ASX 200 INDEX | 8828.7 | (-)0.92 |
(Shruti Nair)
Equity Alert: Indices largely unchanged; Nifty 50 dn 70 pts from 24000 level
MUMBAI--1320 IST--Domestic equity indices were largely unchanged for the first half of Friday's session, without moving significantly in either direction. The Nifty 50 index was some 70 points away from crossing the 24000 level. Only 14 constituents of the 50-stock index were uptrading with gains.
At 1301 IST, the Nifty 50 was at 23930.45, down 237.55 points and the BSE Sensex was at 76561.08, down 848.90 points. Small-cap indices remained marginally higher, while mid-cap indices were marginally lower. India VIX rose almost 7% to 13.5425.
The Nifty IT continued to be the key loser among sectoral indices, down over 5%. "Guidance cuts by Accenture has triggered sell-off in Indian IT majors' ADRs," V.K. Vijayakumar, chief investment strategist at Geojit Investments, said in a note. "This can cause correction in IT stocks in the domestic market, too. Buying can emerge at lower levels in IT since valuations are becoming attractive."
Vijayakumar also expects an underlying strength in the equity market on the back of improving macros helped by the sharp correction in crude prices. He sees short covering by foreign institutional investors to support recovery in the banking stocks and a scope for further up move in the segment. However, occasional profit booking is also expected.
All the banking and financial services indices were down. The Nifty PSU Bank fell over 1%, while Nifty Bank, Nifty Financial Services, and Nifty Private Bank were down nearly 1?ch. Nifty 50 heavyweight HDFC Bank was down 1%. State Bank of India, Kotak Mahindra Bank, and SBI Life Insurance Co. fell almost 1?ch.
Meanwhile, NTPC continued gaining the most in the index, along with select pharmaceutical stocks. NTPC remained 1% higher, and it was followed by Power Grid Corp. of India and Bharti Airtel, up almost 1?ch. Sun Pharmaceutical Industries and Apollo Hospitals Enterprise were marginally higher. (Arundathi A R)
Equity Alert: NTPC up 2%; begins installing 5 GW-hr battery system project
MUMBAI--1250 IST--Shares of NTPC gained nearly 2% and hit an intraday high of INR 368 amid reports that the state-owned energy company has begun installing battery energy storage systems of 5 gigawatt-hour capacity at its coal-fired power plants.
The initiative, with an estimated investment of INR 50 billion, seeks to reduce renewable energy curtailment, according to a report by The Economic Times. Further, the Central Electricity Regulatory Commission has approved a cost-plus tariff framework, allowing NTPC to recover fixed charges and returns while storing excess solar and wind power.
"It is supportive for companies involved in battery storage, power electronics, energy management systems, EPC and grid integration, while also improving renewable energy utilization and grid stability," ICICI Direct said in a report.
At 1243 IST, shares of the company traded 1% higher at INR 365.40. So far, around 7.33 million shares of the company has changed hands on the NSE, over 28% higher than the number of shares traded until the same time Thursday. (Shruti Nair)
Equity Alert: VA Tech Wabag up 5?ter co wins mega order from Kuwait govt
MUMBAI--1205 IST--Shares of VA Tech Wabag rose 5.3% and hit their highest level in over a year and a half at INR 1918.70 per share. The stock rose after the company announced that it has secured a 'mega' contract for Doha Seawater Reverse Osmosis Desalination plant from the Ministry of Electricity, Water & Renewable Energy, Kuwait. It classifies international orders above $150 million as 'mega.'
The company will design, construct, and commission a Seawater Reverse Osmosis Desalination Plant that will have a capacity of 60 million imperial gallons per day. The plant will also feature a state-of-the-art recarbonation system. The project is scheduled to be completed over a period of 36 months followed by five years of operation and maintenance.
At 1200 IST, shares of the company were 3% higher at INR 1,876.50 per share. So far in the day, 1.4 million shares of the company changed hands on the NSE, over three times the number of shares traded till the same time Thursday. (Shruti Nair)
Equity Alert: Indices remain lower; IT cos pull down Nifty 1%; Infosys dn 8%
MUMBAI--1110 IST--Benchmark equity indices remained lower, around 1?ch, with more than half the Nifty 50 stocks trading lower. Information technology stocks continued to shed the most, with the Nifty IT index down nearly 6%. IT major Infosys remained the key laggard in all the three Nifty indices, down 8%. Index heavyweight HDFC Bank also fell almost 1%.
At 1108 IST, the Nifty 50 was at 23943.10, down 224.90 points. The BSE Sensex was at 76580.57, down 829.41 points. India VIX rose 5.5% to 13.3625. In the broader market, smallcap indices recovered from their earlier losses and were now marginally higher. Midcap indices stayed lower, down 0.2?ch.
Apart from IT stocks, automobile stocks were also among the major drags in the 50-stock index. Mahindra & Mahindra, Tata Motors Passenger Vehicles, and Maruti Suzuki India were down 0.5–1.5%. The Nifty Auto index was down almost 1%.
Realty stocks were also down during the session, with the Nifty Realty falling over 1%. Barring Phoenix Mills, all stocks in the sectoral index were down 1–3%.
On the other hand, pharmaceutical stocks remained gainers in the Nifty 50. Apollo Hospitals Enterprise and Sun Pharmaceutical Industries rose marginally. (Arundathi A R)
Equity Alert: Rajesh Exports hits 5% upper band, gains 28% in five sessions
MUMBAI--1050 IST--Shares of Rajesh Exports hit the 5% upper band at INR 97.51 for the fifth straight session, during which they have gained nearly 28%. After the Securities and Exchange Board of India issued an interim order against the company's promoter earlier this month, the stock had shed over 30% over a week. Since then, it has recovered some of its losses and now remains only around 11% lower than the pre-order level.
Earlier this month, SEBI had issued an interim order against the company's promoter Rajesh Mehta on account of misrepresentation of the company's revenues between 2020–21 (Apr-Mar) and FY26. The company claimed that most of its sales came from its step-down arm, Valcambi SA, which is based in Switzerland. However, the market regulator said Valcambi's revenues were miniscule in comparison to Rajesh Exports' consolidated revenue.
Rajesh Exports has subsequently contested the allegations by SEBI, stating that the shortfall identified in the company's consolidated revenue by the regulator was because it had considered Valcambi's earnings before interest, tax, depreciation and amortisation figures for calculations instead of its revenue.
At 1026 IST, around 112,000 shares of the company were traded on the NSE, nearly 12 times lower than the 1.35 million shares traded until the same time Thursday. (Shruti Nair)
Equity Alert: IT stocks crash to multi-year lows on Accenture's weak guidance
MUMBAI--1008 IST--Domestic information technology stocks crashed Friday, hitting multi-year lows after IT bellwether Accenture scaled down its sales growth guidance for the financial year 2025-26 (Sept-Aug) and its management commentary signalled near-term growth pressure amid a challenging macroeconomic backdrop.
Overnight, the American Depository Receipts of domestic IT majors Infosys and Wipro ended nearly 10% and 4% lower, respectively, reacting to Accenture's May quarter results. The Irish technology consulting company revised downwards its sales growth guidance for the full year to 3-4% from 3-5?rlier. Excluding an estimated 1% impact from US federal business, Accenture now expects its revenue for the full financial year to grow 4–5%, compared to the earlier 4-6% guidance.
Later, in a post-earnings conference call with analysts, Accenture's management said it expects to see the indirect impact of the West Asia war on its revenues in the Jun-Aug quarter after the conflict resulted in a $100-million hit on the company's top line in Mar-May. It also noted that revenue growth from existing customers has been stagnant.
"Overall, ACN's (Accenture's) commentary suggests that AI (artificial intelligence) is becoming increasingly meaningful demand driver; however, it remains insufficient to offset near-term weakness from discretionary spending pressures, elongated deal cycles and delayed large-program conversions. Therefore, we continue to expect a gradual recovery trajectory for Indian IT rather than a broad-based acceleration in FY27," Choice Institutional Equities said in a report.
Based on Accenture's commentary, JM Financial Institutional Equities, noted the possibility of a slowdown in earnings of domestic IT companies in the June and September quarters, which are otherwise considered seasonally strong. "Given this backdrop, we believe there is a risk to (about) 3% YoY cc (on-year constant currency) industry growth for FY27," the brokerage said. Similarly, Nomura expects the West Asia conflict to have some impact on the revenues and deal bookings of domestic IT companies in the June quarter. "In our view, the indirect impacts can continue in 2QFY27F (Jul-Sept) as it is not clear how quickly spending behaviour will normalise, particularly in challenged sectors like automotive," Nomura said.
Another brokerage, Motilal Oswal Financial Services, noted that the AI implementation opportunity will materialise but may not accrue to traditional vendors like it did in the past and a new, platformised AI native vendor template will emerge. "This will not be a winner-takes-all market and multiple vendors would survive as seen in the past cycles, but this will not be without a painful period of transition for the existing book of business," the brokerage said.
The Nifty IT index plunged over 6% to an over-three-year low of 26634.50 points intraday. Shares of large-cap IT major Infosys shed around 9% intraday to INR 1,030, their lowest level since October 2020. Shares of Tata Consultancy Services dropped 6.5% to INR 2,059.90, their lowest level since June 2020. At 1004 IST, the Nifty IT index was at 26935.75 points, down over 5% from Thursday's close, dragged down by the fall in Infosys, TCS, Mphasis, and LTM, all down around 5-8%. (Arya S. Biju)
Equity Alert: Indices down after 5-day rally; IT cos down after Accenture earnings
MUMBAI--0955 IST--After rising for the past five sessions, headline stock indices opened around 1% lower each Friday, owing to a decline in information technology majors. IT companies fell after sector bellwether Accenture cut its revenue growth guidance for the financial year 2025–26 (Sept-Aug) and hinted at near-term growth pressure in its management commentary Thursday. Most equity indices in the Asia-Pacific region were also lower in early trade.
At 0927 IST, the Nifty 50 was at 23956.75, down 211.25 points, and the BSE Sensex was at 76643.68, down 766.30 points. The 50-stock index opened below 24000 points after two sessions. Investor worries rose, with India VIX up after six straight sessions. The volatility index rose almost 5% to 13.2775.
Broader market indices outperformed benchmark indices, as they fell 0.1–0.5%. Most sectoral indices were also lower in early trade with the Nifty IT falling the most. The IT index plunged almost 6% with all its constituents trading lower.
Infosys was the biggest laggard in the Nifty 50 index, down 8%. Tata Consultancy Services, Tech Mahindra, HCL Technologies, and Wipro were down 3–6%.
Accenture scaled down its sales guidance for FY26 to 3–4% from 3–5%, cutting the upper band of the guidance. The company Thursday reported revenue of $18.72 billion for the May quarter, up 6% on year in dollar terms and 3% in local currency.
In the Nifty 200 index, Mphasis was among the major losers, down 6%. LTM, Persistent Systems, and Coforge fell 4-6%. The Nifty 500 index was also dragged down majorly by IT stocks.
Only 12 stocks gained in the Nifty 50 index, with NTPC gaining the most at 1%. According to a report by The Economic Times, the company has begun the installation of 5 gigawatt hours of battery storage at its coal-fired power plants, with an estimated investment of about INR 50 billion.
Pharmaceutical and healthcare stocks were the other major gainers in the Nifty 50. Apollo Hospitals Enterprise, Sun Pharmaceutical Industries, and Cipla rose 0.1–0.7%. The Nifty Pharma and Nifty Healthcare indices gained 0.3?ch and were among the few gaining sectoral indices.
Waaree Energies was the highest gainer in the Nifty 200, up over 2%. Radico Khaitan, Phoenix Mills, and Bharat Heavy Electricals gained over 1?ch in the Nifty 200. Meanwhile, IFCI and Carborundum Universal gained over 5?ch in the Nifty 500 index. HFCL hit the 5% upper band in the Nifty 500. (Arundathi A R)
Equity Alert: Indices may open lower tracking mixed cues from Asian mkts
MUMBAI--0837 IST--Benchmark equity indices may open lower Friday, tracking mixed cues from Asian markets. Domestic information technology stocks are seen leading the losses Friday, after IT bellwether Accenture scaled down its sales growth guidance for the financial year 2025-26 (Sept-Aug) and its management commentary signalled near-term growth pressure amid a challenging macroeconomic backdrop.
Overnight, the American Depository Receipts of domestic IT majors Infosys and Wipro ended nearly 10% and 4% lower after Accenture's May quarter results. Accenture now expects its revenue for the full financial year to grow 4–5%, compared to the earlier 4-6% guidance, excluding an estimated 1% impact from US federal business. "ACN's (Accenture's) commentary suggests that AI (artificial intelligence) is becoming increasingly meaningful demand driver; however, it remains insufficient to offset near-term weakness from discretionary spending pressures, elongated deal cycles and delayed large-program conversions. Therefore, we continue to expect a gradual recovery trajectory for Indian IT rather than a broad-based acceleration in FY27," Choice Institutional Equities said in a report.
Major equity indices in Asia Pacific traded on a mixed note early Friday, Japan's Nikkei 225 Day and South Korea's KOSPI hitting record highs, while Singapore's FTSE Singapore Strait Times and Australia's S P/ ASX 200 Index were down 0.4-1.1%. Crude oil prices continued to fall Friday, with the August futures contract of Brent Crude hovering around $79 per barrel in early trade. Following the signing of a memorandum of understanding between the US and Iran, US forces lifted the naval blockade against Iranian ports and coastlines, the US Central Command said in a 'X' post.
Investors now assess the durability of the US-Iran interim agreement after US Vice President J.D. Vance said any economic relief for Tehran would depend on the country meeting its obligations under the deal."The United States isn't giving up a cent of money to Iran," Vance said. "The only way the Iranians get any of these resources ... is if they comply fully" with the terms of the deal, CNBC reported. Meanwhile, Iran's Supreme Leader, Ayatollah Mojtaba Khamenei, late Thursday said that he had approved the interim peace agreement despite having a "different view", elaborating no further, Al Jazeera reported.
The Gift Nifty indicates a negative start for the domestic market. At 0827 IST, the June futures contract of Gift Nifty was at 24004.50, around 164 points below from Nifty 50's previous close. The Nifty 50 has scaled up to nearly 24200 spot levels following its breakout from the price resistance of 24050 spot levels. "Going ahead, we reiterate our 'buy on dips' trading approach as long as the index remains above the 23750–23800 spot levels on a closing basis—which also serves as the gap and 2-month EMA confluence zone," Vipin Kumar, technical and derivatives analyst at Globe Capital Market, said. "A sustained trade below the 23750 spot level might drag it towards 23600–23500 spot levels in the near term," he added. (Arya S. Biju)
Equity Alert: Asian markets mixed as investors assess viability of US-Iran deal
MUMBAI--0815 IST--Major stock indices in Asia were mixed in early trade on Friday as investors assessed the viability of the peace deal between the US and Iran. While select indices tracked gains in their US peers, others were muted. Crude oil futures remained below $80 per barrel on Friday as the first ships sailed through the key Strait of Hormuz, which had effectively been shut since the start of the US-Iran war.
South Korea's Kospi hit a new record high of 9384.22 and led the gains in the region. The index was up over 2%, led by a rally in the stocks of chipmakers after their peers in the US soared on Thursday following the announcement of a partnership between Intel and Apple. Kospi heavyweights SK Hynix and Samsung Electronics hit record highs early in the session, Dow Jones Newswires reported. While SK Hynix gained over 6%, its peer Samsung Electronics was up nearly 2%.
Comments by US Vice-President J.D. Vance tempered some of the optimism that followed the declaration of the interim peace deal between Washington and Tehran. Vance said that any economic relief to Iran would depend on Tehran complying fully with the terms of the deal. The interim agreement between the two parties extends the ceasefire first announced in April by 60 days.
Australia's S P/ASX 200 shed 1% and led the losses among indices that lagged in the region. The index was lower for the second session in a row. Markets in China, Hong Kong and Taiwan are closed for a holiday. All three indices ended lower on Thursday.
Following are the levels of key indices in the region at 0813 IST:
| Index | Level | Change in % |
| Nikkei 225 Day | 71314.67 | 0.37 |
| TOPIX FIRST SECTION | 4053.07 | (-)0.37 |
| KOSPI | 9236.36 | 1.9 |
| FTSE Singapore Strait Times | 5194.27 | (-)0.36 |
(Shruti Nair)
Equity Alert: Infosys, Wipro ADRs slump on Accenture's weak sales, guidance
MUMBAI--0735 IST--The American Depository Receipts of domestic information technology majors Infosys and Wipro ended sharply lower after IT bellwether Accenture scaled down its sales growth guidance for the financial year 2025-26 (Sept-Aug) to 3-4% from 3-5%. Investors in Indian information technology services companies look towards Accenture's earnings as it gives them an idea of the demand and discretionary spending environment in the US.
Accenture Thursday reported a revenue of $18.72 billion for the May quarter, up 6% on year in dollar terms and 3% in local currency. Its May quarter revenue was slightly lower than analysts' projection, according to data by FactSet. Excluding an estimated 1% impact from US federal business, Accenture now expects its revenue for the full financial year to grow 4–5%, compared to the earlier 4-6% guidance. The New York Stock Exchange-listed company's financial year runs from Sept. 1 through Aug. 31.
Weak May quarter results sparked a sell-off in Accenture's shares, which ended nearly 18% lower at $127.98 per share on the New York Stock Exchange. This was the sharpest single-day decline in the company's shares. The fall sent shockwaves through the American Depository Receipts of Infosys and Wipro. Infosys' American Depository Receipts ended nearly 10% lower at $10.57 per share and those of Wipro ended nearly 4% lower at $2.39 per share.
The company's management said Accenture would continue to see the indirect impact of the West Asia war on its revenues in the ongoing Jun-Aug quarter after the military conflict resulted in a $100-million hit on the company's top line in Mar-May. It also said revenue growth from existing customers has been stagnant. "Although customers are spending into AI (artificial intelligence), but the overall spend hasn't really increased. That's why we are moving deeper into cybersecurity platform business and mid-market to capture larger total addressable market," the management said. The company will buy majority stake in Dragos and fully acquire runZero and NetRise in a combined deal valued at $4.18 billion. (Eshitva Prakash)
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 94.32
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Rajeev Pai
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.
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