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Informist, Wednesday, Jun. 24, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Indices rise more; heavyweights HDFC Bank, ICICI Bk up 2?ch

 

MUMBAI--1100 IST--Benchmark equity indices gained more as Nifty 50 heavyweights HDFC Bank and ICICI Bank rose further. Information technology stocks also gained more. The Nifty 50 index was some 40 points short of the 24000 level.

 

At 1050 IST, the Nifty 50 was at 23946.80, up 122.70 points or 0.5% higher. The BSE Sensex was 0.7% higher at 76703.53, up over 500 points. More than 30 Nifty 50 stocks were trading higher, compared to 25 stocks earlier. India VIX fell nearly 2% to 13.6975 points.

 

In the broader market, barring the Nifty Midcap 50, all indices were marginally lower. Sectoral indices showed a mixed performance, with the Nifty Energy logging the biggest loss, down nearly 1%. The Nifty Private Bank and Nifty IT were the major gainers among sectoral indices, up over 1?ch.

 

While Dr. Reddy's Laboratories continued to be the top gainer in the Nifty 50 index, ICICI Bank rose over 2% and HDFC Bank gained almost 2%. Tech Mahindra, Trent, and InterGlobe Aviation were also up over 2?ch. Bajaj Auto continued to be the top laggard in the index, down almost 2%.

 

Tata Motors was the top gainer in the Nifty 200 index, up nearly 4%. Oracle Financial Services Software and Shree Cement were up over 3?ch in the index. On the other hand, Indian Railway Finance Corp. was the biggest loser in the Nifty 200 index, down 5%. Shares of the company fell after the government said it planned to sell up to 2% stake in the company via an offer for sale at a floor price of INR 91.

 

KPR Mill gained over 11% in the Nifty 500 index, and was the top performer. JSW Infrastructure and Pine Labs were up over 6% and 5%, respectively.  (Arundathi A R)

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Equity Alert: Banks rise; RBI says banks can lend against FCNR (B) deposits  

 

MUMBAI--1057 IST--Shares of banks traded positive Wednesday after the Reserve Bank of India clarified that lenders are allowed to extend loans to non-residents or issue stand-by letters of credit in favour of overseas lenders against FCNR (B) deposits. Large banks are expected to be the key beneficiaries, given their strong overseas network and established NRI franchise, an analyst said.

 

"The RBI's FCNR(B) lending clarification, coupled with the special swap window, is a timely measure to attract foreign currency inflows at a time when FY26 FCNR(B) mobilisation has remained subdued," Sweta Padhi, research analyst at IDBI Capital, said. Padhi expects State Bank of India, HDFC Bank, ICICI Bank, and Bank of Baroda to be the key beneficiaries, given their strong overseas networks. "Among lenders, SBI, HDFC Bank and ICICI Bank remain best positioned to capture incremental inflows given their extensive global reach and strong NRI customer base," she added. The rise in net interest margins for these large banks is seen modest at 2–6 basis points, given the relatively small share of these deposits in the overall liability mix, the analyst said. 

 

On Monday, the Nifty Private Bank and Nifty Bank gained around 1?ch to be the best performing sectoral indices. Shares of Nifty 50 heavyweights ICICI Bank and HDFC Bank rose over 2% and 1%, respectively. Their index peer SBI was marginally up. AU Small Finance Bank, YES Bank, Kotak Mahindra Bank, Federal Bank, IndusInd Bank, and Axis Bank rose around 1?ch.  (Adhithya Aji)

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Equity Alert: IRFC falls 6%; govt to sell 2% stake with floor price at INR 91

 

MUMBAI--1010 IST--Shares of Indian Railway Finance Corp. fell nearly 6% to a near-one-month low of INR 92.92 after the government decided to sell 2% stake in the company through an offer for sale. The floor price for the stake sale is set at INR 91, which is a nearly an 8% discount from the previous closing level. 

 

The President of India, promoter of the company, who is acting through and represented by the Ministry of Railways, proposed to sell up to 130.69 million shares, which represents 1% of the share capital of the company and another 1% as green shoe option. As of Mar. 31, the government held an 84.65% stake in the company. Post the stake sale, along with exercising the green shoe option, it would come down to 82.65%.

 

With the floor price at INR 91, the government is set to raise INR 11.89 billion, which represents 1% of the shareholding. Including the green shoe option, the government is estimated to raise INR 23.78 billion. The non-retail investors can bid for the shares on Wednesday, while retail investors can make their bids on Thursday.

 

At 1009 IST, shares of IRFC traded nearly 6% lower at INR 93.21. Over 23 million shares of the company changed hands on NSE, which is nearly 13 times higher than the number of shares traded till the same time Tuesday. The stock is among the worst hit in both the Nifty 200 and Nifty 500 indices.  (Adhithya Aji)

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Equity Alert: Nifty 50 gains after opening a tad lower, stays below 24000 pts

 

MUMBAI--0940 IST--The Nifty 50 index opened marginally lower on Wednesday after falling sharply in the previous session, while the Sensex opened with marginal gains. However, the 50-stock index turned positive soon after opening. The indices likely tracked mixed signals from Asia-Pacific markets. The Nifty 50 index, which closed below the 24000 level on Tuesday after four straight sessions, remained below this psychologically crucial point during Wednesday's open as well.

 

At 0918 IST, the Nifty 50 was at 23865.65, up 0.2% or 41.55 points higher. The BSE Sensex was also 0.2% higher at 76383.81, up 183.13 points from Tuesday's close. Almost half the Nifty 50 stocks were higher in early trade. Volatility index India VIX was 0.7% lower at 13.8450 points.

 

All mid-cap as well as small-cap indices were marginally higher. Barring four, all sectoral indices were also in positive territory. Sectoral indices were mixed, with the Nifty Pharma, Nifty Healthcare, and Nifty IT being the leading ones, up almost 1?ch. On the other hand, the Nifty Metal and Nifty Media were the major losers. Nifty 50 heavyweight ICICI Bank gained almost 2%, supporting the index.

 

Information technology stocks were the major gainers in the Nifty 50 index. Tech Mahindra was among the biggest gainers, up 2.5%, while Infosys rose almost 1%. Tata Consultancy Services gained marginally.

 

Dr. Reddy's Laboratories was the biggest gainer in the 50-stock index, up 2.6%. Apollo Hospitals Enterprise, Max Healthcare Institute, and Sun Pharmaceutical Industries were up 0.4-0.9%.

 

Meanwhile, Bajaj Auto was the key drag on the Nifty 50, down nearly 2%. The company and its wholly-owned subsidiary Bajaj Auto Technology was hit by a cyberattack involving ransomware. SBI Life Insurance Co., Maruti Suzuki India, and HDFC Life Insurance Co. were the other stocks down in the 50-stock index, over 1% lower each.  (Arundathi A R)

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Equity Alert: Indices may open flat as trend in Asian peers mixed, crude down

 

MUMBAI--0827 IST--Benchmark equity indices may open largely flat tracking a mixed trend in its Asian peers. Crude oil prices edged lower early Wednesday on signs of easing of supply disruptions through the Strait of Hormuz, though uncertainty surrounding the US-Iran ceasefire persists.

Over 11,000 seafarers stuck in the Persian Gulf will begin to exit through the Strait of Hormuz, CNBC reported, citing the International Maritime Organisation. "We have secured the necessary safety guarantees and have thoroughly verified the conditions for safe navigation to support these operations," Arsenio Dominguez, secretary general of the organisation said. The operations will be carried out in close cooperation with Iran, Oman, all other coastal states in the region, the US and the maritime industry, he added. At 0809 IST, the August futures contract of Brent Crude on the Intercontinental Exchange was 0.6% lower at $76.62 per barrel, the lowest price since the beginning of the West Asia war.  

 

In the latest development, US President Donald Trump Tuesday said he would "cancel meetings" as part of the peace talks with Iran if Tehran does not allow International Atomic Energy Agency nuclear inspections in the nation, asserting that the US has secured assurances on inspection access as part of ongoing talks. However, Iran said there were "no plans" for International Atomic Energy Agency inspectors to return to its bombed enrichment sites and Tehran's ballistic missile programme will not be included in negotiations with the US, CBS News reported. 

 

The US Senate Tuesday approved a measure instructing President Trump to halt the war in Iran or seek congressional approval before continuing military action, according to a BBC report. Meanwhile, Trump announced that Iran's unfrozen funds would be under Washington's control and that Tehran could only use those to get food and medical supplies from the US, addressing a major hurdle in peace negotiations that both sides say are making progress. 

 

Meanwhile, Commerce and Industry Minister Piyush Goyal Tuesday said India and the US are making progress towards a balanced and mutually beneficial trade agreement, following discussions with US Trade Representative Jamieson Greer and US Ambassador to India Sergio Gor. 

 

The Gift Nifty indicates a largely flat opening for the domestic market. At 0812 IST, the June futures of the GIFT Nifty were at 23858.50, around 34 points higher than the Nifty 50's previous close of 23824.10 points. The Nifty 50 index is trading on verge of break below the lower band of its 7-day long congestion range 23800-24200 points. Moving forward, a decisive close below 23800 points could drag it towards 23600-23500 spot levels in the near term, Vipin Kumar, technical and derivatives analyst at Globe Capital Market, said. In contrast, sustenance above 23950 points could take the index back to the upper band of the congestion range at 24200 spot levels, he added. (Arya S. Biju)

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Equity Alert: Asian mkts mixed; select chipmaking stocks recover; Kospi up 4%

 

MUMBAI--0815 IST--Stock indices in Asia were mixed in early trade on Wednesday as select technology stocks recovered from their lows in the previous session. Despite the losses seen in their US peers overnight, stocks of select chipmakers in the region rose during early trade. South Korea's Kospi, up roughly 4%, outperformed peers in the region, recovering some of its losses from the previous session. Japan's Nikkei 225 and the broader-market Topix were the worst performers in the region amid hawkish cues from the country's central bank.

 

Early gains in shares of index heavyweights pushed the Kospi into positive territory on Wednesday. Consumer electronics major Samsung Electronics was up nearly 8%, while semiconductor leader SK Hynix gained 3%. Both stocks had shed around 12?ch on Tuesday and dragged down the benchmark South Korean index, which ended around 10% lower.

 

Recent channel checks across Asia and enterprise-AI demand trends showed "no cracks in the armor," Dan Ives, senior equity research analyst at Wedbush Securities, told CNBC. Ives argued that the selloff in South Korean technology stocks was likely a pause after a near 100% rally in the Kospi this year, rather than a weakening of fundamentals. 

 

Nikkei 225 and Topix were down 0.4?ch during early trade. A summary of opinions from the Bank of Japan's meeting earlier this month released on Wednesday showed some board members called for further interest rate hikes to push the central bank's policy rate closer to levels deemed neutral to the economy, according to a Reuters report. Last week, the central bank raised interest rates to a 31-year high of 1.00%. 

 

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

 

Index	Level	Change in %
CSI 300 Index	4930.75	0.23
Hang Seng Index	23295.0.3	(-)0.18
Nikkei 225 Day	69523.79	(-)0.38
TOPIX FIRST SECTION	3975.37	(-)0.38
KOSPI	8490.39	3.49
FTSE Singapore Strait Times	5229.82	0.46
S&P/ASX 200 Index	8812.4	0.29

 

(Shruti Nair)

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Equity Alert: US indices end lower amid selling in chipmaker stocks

 

MUMBAI--0740 IST--US equity indices ended lower on Tuesday as selling of chipmaker stocks, which started in the previous session, continued. The tech-heavy Nasdaq was the worst performer among its peers, falling over 2%, followed by the S&P 500, which lost over 1%. The Dow Jones Industrial Average posted the smallest decline among the three major indices, closing 0.1% lower.

 

Shares of Micron Technology ended 13% lower and were among the worst-hit stocks ahead of the company's quarterly results, due after the close on Wednesday. Sector giant Nvidia ended over 4% lower, while other notable players such as Intel and Advanced Micro Devices closed around 6% lower each. On Tuesday, chipmakers' stocks suffered a major pullback globally as investors evaluated the growing debt-funded artificial intelligence sector.

 

Shares of Alphabet, which were among the major laggards in the previous session, ended 1% lower. The stock shed 5% on Monday amid AI-related concerns and recent departures of high-profile talent.

 

"The AI beneficiaries are the sell-off, and I don't think they're expensive, but they're crowded," Andrew Slimmon, a senior portfolio manager at Morgan Stanley Investment Management, said on CNBC's "Squawk Box" Tuesday. "It's captured kind of the zeitgeist of the momentum traders, and when that happens, you're going to have sharp sell-offs like we're having. I'd argue it's healthy."

 

Technology stocks outside chipmakers helped limit the losses in indices. Magnificent 7 members Microsoft and Amazon ended 1–2% higher, while stocks like Walmart, Procter & Gamble, and Johnson & Johnson also recorded gains, ending around 2% higher each. Notably, International Business Machines shares popped 5% following an upgrade to 'overweight' at JPMorgan, according to a CNBC report.

 

Market participants will watch out for the Personal Consumption Expenditures Price Index data, the US Federal Reserve's preferred inflation gauge, due Thursday. 

 

The following were the closing levels of major US indices on Tuesday:

 

US Indices	Levels	Change in %
Dow Jones Industrial Average	51666.84	(-)0.09
NASDAQ Composite	25587.04	(-)2.21
S&P 500	7365.46	(-)1.44

 

(Shruti Nair)

 

US$1 = INR 94.71

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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NYSE: New York Stock Exchange
NYMEX: New York Mercantile Exchange
SEBI: Securities and Exchange Board of India
RBI: Reserve Bank of India

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