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Informist, Tuesday, Jun. 23, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Challenges for NBFCs ease with W Asia peace talks - Jefferies

 

MUMBAI--0839 IST--Global brokerage Jefferies is of the view that sectoral challenges for non-banking financial companies have eased, with growth and asset quality holding up well. The overall sentiment has improved as the West Asia war shows signs of ending with the US and Iran nearing a deal, NDTV Profit reported, citing Jefferies. 

 

The growth and collection of NBFCs are well ahead of last year, Jefferies said. Softer bond yields and delayed interest rate hikes are seen supporting net interest margins. The brokerage expects healthy growth in the sector with easing credit costs and range-bound net interest margins. "Valuations have rebounded from post-conflict lows but are near average," Jefferies said. 

 

A weak monsoon and El Nio effects are the major risks Jefferies sees for NBFCs ahead. Diversified NBFCs are better placed in the near term, it said. Jefferies prefers Bajaj Finance, Aditya Birla Capital, Cholamandalam Investment and Finance Co., and Shriram Finane in the NBFC universe. On Monday, shares of Nifty 50 constituents Bajaj Finance and Shriram Finance closed nearly 1% higher and 1% lower, respectively. Aditya Birla Capital ended over 4% higher and Cholamandalam Investment and Finance Co. closed nearly 2% higher.  (Adhithya Aji)

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Equity Alert: Indices may open largely flat as market assesses US-Iran talks

 

MUMBAI--0835 IST--The benchmark equity indices may open largely flat or marginally up as investors assess the progress in the peace negotiations between the US and Iran. While easing crude oil prices are seen supporting the positive sentiment, expectations of a poor southwest monsoon continue to be a key concern as a prolonged delay could add to inflationary pressures and affect demand across sectors related to agriculture.

The August futures contract of Brent Crude on the Intercontinental Exchange inched up slightly to $78.2 per barrel early Tuesday amid mixed signals from the US-Iran talks and concern over progress of oil tankers moving through the Strait of Hormuz. Both US and Iranian officials described the first round of negotiations, which ended Monday, as constructive, though differences remain. US Vice-President J.D. Vance said Iran had agreed to allow international nuclear inspectors into the country, a claim Tehran subsequently disputed.

 

Further, there is concern that the surge in oil tankers passing through the strait may not be sustainable, Dow Jones Newswires reported, citing a report by ANZ Research. Iran said any transit would require mandatory insurance policies, which are currently free but could be charged for down the line, the analysts noted. 

 

The US Treasury Monday issued a 60-day waiver from sanctions on Iranian oil as part of the interim agreement to end the war in West Asia. The waiver includes the production, delivery, and sale of Iranian oil till Aug. 21. The announcement came after Vance said his talks with senior Iranian officials in Switzerland had created a "good foundation for a successful final deal".

 

Monday, foreign institutional investors turned net sellers once again and sold domestic equities worth over INR 6 billion. Meanwhile, domestic investors were net buyers after being net sellers in Friday's session. They net brought shares worth over INR 10 billion. 

 

At 0825 IST, the June futures contract of GIFT Nifty was at 24111.50, around nine points higher than the Nifty 50's previous close of 24102.90 points. "The broader trend remains positive as Nifty (50) continues to hold above its recent swing lows, indicating that the bullish market structure is intact," Sundar Kewat, technical and derivatives analyst at Ashika Institutional Equties, said. "As long as the index sustains above key support levels, the upward momentum is likely to continue, with the next major resistance placed around 24500 (points), which could be tested in the coming sessions," he added.  (Arya S. Biju)

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Equity Alert: Tech stocks drag down Asian indices; Kospi sheds 4%

 

MUMBAI--0825 IST--Most stock indices in Asia were down in early trade on Tuesday. Investors in the region assessed the viability of a peace deal in West Asia after the first session of peace negotiations between the US and Iran concluded on Monday. While the fall in crude oil futures provided some relief, technology stocks in the region tracked losses seen in their US peers and dragged down their respective indices.

 

Monday, mediators Qatar and Pakistan said the US and Iran had agreed on a road map to reach a final deal within 60 days. Further, the US authorised sales of Iranian oil through August after "productive talks" with Tehran in Switzerland. Subsequently, August futures of Brent crude oil closed over 3% lower at nearly $78 per barrel on Monday.

 

Losses in several 'Maginificent 7' technology stocks in the US on Monday seeped into the performance of their Asian counterparts. Monday, shares of Alphabet closed around 7% lower amid artificial-intelligence-related concerns. South Korea's Kospi was the worst hit index in the region, down 4%. Index heavyweights SK Hynix and Samsung Electronics were down 5–6% during early trade. Japan's Nikkei 225 was also among the worst performers, erasing its marginal gains seen at the open. The index shed nearly 1%, dragged down by the losses in technology and electronics stocks. Shares of technology-focused lender SoftBank Group were down nearly 8%, while electronics major Murata Manufacturing fell nearly 5% during early trade.

 

"These are far from dull markets," Chris Weston, head of research at Pepperstone Group Ltd in Melbourne told Reuters. "The former generals of the market appear to have lost momentum, and investors are rotating into other areas of the market that are more defensive, less AI-focused and offer more predictable cash flows."

 

Following are the levels of key indices in the region at 0812 IST:

 

Index	Level	Change in %
CSI 300 Index	5025.84	(-)0.67
Hang Seng Index	23649.91	(-)0.5
Nikkei 225 Day	71711.67	(-)0.89
TOPIX FIRST SECTION	4060.9	(-)0.83
KOSPI	8732.43	(-)4.19
FTSE Singapore Strait Times	5229.93	0.5
S&P/ASX 200 Index	8823.5	0.1

 

(Shruti Nair)

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Equity Alert: US indices end mixed Mon; tech stocks drag down S&P, Nasdaq

 

MUMBAI--0725 IST--US equity indices ended mixed on Monday, with losses in major technology players dragging the S&P 500 and the tech-heavy Nasdaq into negative territory. On the other hand, gains in the industrial and healthcare sectors allowed the Dow Jones to close higher as market participants assessed the conclusion of the first session of peace negotiations between the US and Iran.

 

On Monday, several 'Magnificent 7' stocks ended lower, with Alphabet leading the losses, ending over 5% lower. The stock fell amid growing concerns around artificial intelligence and as two high-profile researchers exited the company for rivals in recent days, according to a CNBC report. Its peers Meta, Amazon, and Microsoft ended 3–5% lower. Elon Musk's SpaceX also ended over 16% lower, down for the third straight session, during which it shed 24%, according to a report by CNBC. On the other hand, shares of chipmaker Micron Technology ended nearly 7% higher, ahead of the company's quarterly results due post market hours on Wednesday. Other chipmakers also saw gains, with Advanced Micro Devices and Intel, around 3% and 5% higher, respectively.

 

Investors continued to assess the durability of peace in West Asia after the first session of peace talks between the US and Iran in Switzerland concluded on Monday. Mediators Qatar and Pakistan said the US and Iran had agreed on a road map to reach a final deal within 60 days. Subsequently, crude oil prices fell over 3% to close at around $78 per barrel on Monday. 

 

Market participants will also keep an eye out for the release of the personal consumption expenditures price index for May, the US central bank's preferred inflation gauge, due Thursday. Even excluding volatile food and energy prices, core expenditure is seen up from April, CNBC reported, citing economists polled by FactSet.

 

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

 

US Indices	Levels	Change in %
Dow Jones Industrial Average	51712.71	0.29
NASDAQ Composite	26166.60	(-)1.32
S&P 500	7472.79	(-)0.37

 

(Shruti Nair)

 

US$1 = INR 94.68

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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