MARKET UNDER PRESSURE; EUROPEAN MRKT ADVANCE

Published on Jun 19, 2026 13:40

The key equity benchmarks continued to trade with major losses in afternoon trade, weighed down by heavy selling in index-heavyweight IT stocks. Sentiment weakened after IT major Accenture trimmed its FY26 revenue growth forecast and highlighted revenue risks stemming from West Asia-related challenges. Further, investors remained cautious amid the U.S. Federal Reserve`s policy stance, with persistent inflation concerns and expectations of interest rates staying higher for longer weighing on market sentiment.

However, market participants will closely monitor monsoon developments, FII activity, and inflation trends for directional cues. Nifty dropped below the 23,950 mark.

IT, realty and PSU bank shares witnessed significant decline while pharma and media shares advcned.

At 13:25 IST, the barometer index, the S&P BSE Sensex tumbled 860.90 points or 1.11% to 76,553.26. The Nifty 50 index declined 235.85 points or 0.98% to 23,932.45.

In the broader market, the BSE 150 MidCap Index fell 0.24% and the BSE 250 SmallCap Index rose 0.01%.

The market breadth was positive. On the BSE, 1,858 shares rose and 2,208 shares fell. A total of 205 shares were unchanged.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 94.4600 compared with its close of 94.4025 during the previous trading session.

In the commodities market, Brent crude for August 2026 settlement jumped 32 cents or 0.40% to $80.17 a barrel.

Gainers & Losers:

NTPC (up 1.06%), PowerGrid Corporation of India (up 0.87%), Bharti Airtel (up 0.75%), Bajaj Fiannce (up 0.43%) and Adani Enterprises (up 0.42%) were the major Nifty50 gainers.

Infosys (down 7.78%), Tata Consultancy Services (TCS) (down 5.89%),Tech Mahindra (down 4.52%), HCL Technologies (down 3.80%) and Wipro (down 2.66%) were the major Nifty50 losers.

Stocks in Spotlight:

MSP Steel and Power hit an upper circuit of 5% after the company entered into a power purchase agreement (PPA) with Elevate Solar Energy to procure solar power, aiming to increase its renewable energy consumption.

Hiliks Technologies surged 9.74% after the company announced that it has entered into a subcontract agreement with KMC Constructions worth Rs 95.51 crore. The contract is for execution of signalling and telecommunication works in connection with the doubling of the railway track between Akanapet Junction and Medchal stations in Telangana. The project also includes the implementation of Kavach, the Indian Railways� indigenous train collision avoidance system, under South Central Railway.

Desco Infratech rose 3.26% after the company announced that it had received a Letter of Intent (LOI) worth Rs 15.06 crore from Sabarmati Gas. The contract involves laying, installation, testing and commissioning of 4-inch, 6-inch and 8-inch diameter steel gas pipelines for FDODO CNG station connectivity.

Imagicaaworld Entertainment fell 2.14% after the company announced temporarily closure of operations of Imagicaa Water Park located Khopoli. In a regulatory filing made post market hours yesterday, the company stated that it is in receipt of communication from the Irrigation Department, Government of Maharashtra, directing the company to refrain from utilizing water from the dams, highlighting low water levels in the dams in surrounding region, considering the prevailing El Nino effect.

VA Tech WABAG rose 3.13% after the company secured a �mega� Design, Build, Operate (DBO) contract from the Ministry of Electricity, Water & Renewable Energy (MEWRE), Kuwait, for the Doha SWRO Desalination Plant�Stage II.

Global Markets:

European market advanced while Most Asian markets declined on Friday even as peace in the Middle East with the reopening of the Strait of Hormuz pulled oil prices even lower and eased inflation fears.

Mainland China and Hong Kong`s stock markets are closed for the Dragon Boat Festival holiday. Taiwan was also on holiday.

The U.S. dollar was on a tear, hovering near a 13-month high on its major peers, after a hawkish turn from the Federal Reserve led markets to price in more than one rate hike this year.

As per reports, oil tankers have started sailing through the Strait of Hormuz after the United States lifted its blockade on Iran on Thursday as an interim deal to end the three-month war took effect.

Overnight on Wall Street, U.S. stocks rose on Thursday, staging a comeback after the Federal Reserve indicated the possibility of a rate hike this year � a move that sparked a sell-off in equities during the previous session.

The S&P 500 added 1.08%, closing at 7,500.58, and the Nasdaq Composite climbed 1.91% to 26,517.93. The Dow Jones Industrial Average rose by 72.15 points, or 0.14%, to end at 51,564.70.