Benchmarks trade near flat line; IT shares tumble
The key domestic indices traded near flat line with positive bias in morning trade, despite ongoing escalating geopolitical tensions between Israel and Iran. Further impacting sentiment was the US Federal Reserve's decision to hold interest rates, with the central bank projecting elevated inflation and slower economic growth ahead. Market direction will likely continue to be shaped by these geopolitical developments, with investors closely tracking crude oil prices and broader global events. The Nifty traded above the 24,800 level.
IT shares declined for the second consecutive trading session.
At 10:25 IST, the barometer index, the S&P BSE Sensex advanced 45.01 points or 0.06% to 81,495.06. The Nifty 50 index rose 20.15 points or 0.08% to 24,832.75.
In the broader market, the S&P BSE Mid-Cap index fell 0.49% and the S&P BSE Small-Cap index shed 0.32%.
The market breadth was positive. On the BSE, 1,406 shares rose and 2,003 shares fell. A total of 211 shares were unchanged.
Buzzing Index:
The Nifty IT index fell 0.98% to 38,650.05. The index declined 1.79% for the two consecutive trading sessions.
Tech Mahindra (down 2.51%), LTIMindtree (down 2.24%), Oracle Financial Services Software (down 1.65%), Persistent Systems (down 1.52%), Mphasis (down 1.43%) Coforge (down 1.34%), Infosys (down 0.94%), HCL Technologies (down 0.64%) and Tata Consultancy Services (down 0.52%) declined.
Stocks in Spotlight:
Tata Elxsi fell 1.40%. The company announced that it has signed a memorandum of understanding (MoU) with Infineon Technologies to jointly develop application-ready EV solutions tailored to the Indian market.
Marksans Pharma fell 0.64%. The company announced that its wholly owned subsidiary Relonchem has received marketing authorization for the product Oxybutynin hydrochloride Oral Solution from UK Medicines & Healthcare Products Regulatory Agency (UKMHRA).
Puravankara rallied 3.16% after the companys, wholly owned subsidiary, Starworth Infrastructure & Construction, received a letter of intent (LoI) worth Rs 272 crore from Tru Dwellings.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Indian Express
an hour ago
- New Indian Express
Sensex, Nifty end lower on Thursday amid Middle East tensions
CHENNAI: Indian equity benchmarks ended marginally lower on Thursday as investor sentiment remained subdued amid escalating geopolitical tensions in the Middle East, volatility in crude oil prices, and global economic uncertainty. The looming deadline for the US to impose former President Donald Trump's reciprocal tariffs, along with the US Federal Reserve's decision to keep interest rates unchanged at 4.25–4.5%, added to market caution. The BSE Sensex declined by 82.79 points or 0.10% to settle at 81,361.87, after trading in a narrow range of 81,583.94 to 81,191.04 during the day. The broader NSE Nifty50 ended 18.80 points or 0.08% lower at 24,793.25. Selling pressure was broad-based, with 22 of the 30 Sensex stocks ending in the red. Key laggards included Adani Ports, Bajaj Finance, Tech Mahindra, IndusInd Bank, and Nestle India, falling between 2.50% and 1.28%. On the other hand, Mahindra & Mahindra, Titan Company, Larsen & Toubro, Bharti Airtel, and Maruti Suzuki India provided some support, gaining between 0.45% and 1.69%. In the broader markets, the Nifty Midcap100 and Nifty Smallcap100 underperformed the benchmarks, closing down by 1.63% and 1.99%, respectively. Sectorally, the Nifty Auto index bucked the trend to emerge as the sole gainer, rising 0.52%, driven by gains in Eicher Motors, Mahindra & Mahindra, and Bajaj Auto. In contrast, the Nifty PSU Bank index led sectoral declines, shedding 2.04%, followed by losses in the Metal, Media, and Realty indices—all down more than 1%. Most other sectoral indices also ended in negative territory. Volatility remained subdued, with the India VIX easing 0.14% to 14.26, signaling a relatively stable risk environment despite global headwinds. Market breadth was firmly negative, with 2,363 stocks declining on the NSE compared to 516 advances, while 75 stocks remained unchanged.
Time of India
an hour ago
- Time of India
Iran Israel war turning into World War 3? Global stock markets, dollar rate today show shocking hints
World War 3 fear seems to grip the prominent stock markets today even though President Donald Trump is yet to take the final decision as concerns mounted over possible US involvement in the Iran-Israel air war. Global stocks fell and the dollar rose on Thursday and the strikes and counter strikes between Tehran and Tel Aviv have ignited a rally in the oil price this week. Gold Price, USD Dollar Rate Gold, which tends to struggle when the dollar gains, pared earlier losses to trade at $3,372 an ounce, up 0.1 per cent on the day. The US dollar itself rose broadly, leaving the euro down 0.1 per cent at $1.1466 and the Australian and New Zealand dollars - both risk-linked currencies - down 0.7 per cent and 1 per cent, respectively. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Pamiers: Cette aide auditive fait fureur auprès des seniors Bonne audition En savoir plus Undo Much of the recent nervousness in markets has been centred around crude supply shocks from the Middle East, which has driven the price of crude oil up by 11 per cent in a week. Brent crude rose by as much as nearly 1 per cent to $77.40 a barrel, close to its highest since January. US Stock Market, Share Market in Europe Live Events U.S. S&P 500 futures fell 0.5 per cent, although most U.S. markets - including Wall Street and the Treasury market - will be closed on Thursday for a public holiday. In Europe, stocks fell for a third day, leaving the STOXX 600 down nearly 2.5 per cent on the week, set for its biggest week-on-week decline since the tariff-induced turmoil of April. Central Banks On the geopolitical front, President Trump kept the world guessing about whether the United States would join Israel's bombardment of Iranian nuclear sites, telling reporters outside the White House on Thursday; "I may do it. I may not do it." A flurry of central bank decisions in Europe highlighted how Trump's erratic approach to trade and tariffs has complicated the job of central bankers in setting monetary policy, Reuters reported. Overnight, the Federal Reserve delivered mixed signals to markets. Much to Trump's displeasure, policymakers held rates steady as expected and retained projections for two quarter-point rate cuts this year. The Bank of England left UK rates unchanged, as expected, and policymakers said trade policy uncertainty would continue to hurt the economy, triggering a drop in the pound. The Norges Bank surprised markets with a quarter-point cut that weighed on the crown currency, while the Swiss National Bank cut interest rates to zero, as expected, but the fact it did not go below zero gave the franc a lift, leaving the dollar down 0.1 per cent at 0.8184 francs. FAQs Q1. Who is President of USA? A1. President of USA is Donald Trump. Q2. Are US Stock Markets closed today? A2. Most U.S. markets - including Wall Street and the Treasury market - will be closed on Thursday for a public holiday.
Business Standard
2 hours ago
- Business Standard
Barometers extend losses for 3rd day; PSU bank shares decline
The domestic equity benchmarks ended with minor cuts today, extending their losing streak for third day in a row, amid ongoing escalating geopolitical tensions between Israel and Iran. Further impacting sentiment was the US Federal Reserve's decision to hold interest rates, with the central bank projecting elevated inflation and slower economic growth ahead. Market direction will likely continue to be shaped by these geopolitical developments, with investors closely tracking crude oil prices and broader global events. The Nifty settled below the 24,800 level. Barring auto index all the sectoral indices on the NSE ended in the red with PSU bank, media and realty shares declining the most. As per provisional closing data, the barometer index, the S&P BSE Sensex shed 82.79 points or 0.10% to 81,361.87. The Nifty 50 index fell 18.80 points or 0.08% to 24,793.25. in the past three trading sessions, the Sensex and Nifty declined 0.53% and 0.61%, respectively. The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index declined 1.64% and the S&P BSE Small-Cap index dropped 1.77%. The market breadth was weak. On the BSE, 966 shares rose and 3,011 shares fell. A total of 140 shares were unchanged. The initial public offer (IPO) of Arisinfra Solutions received bids for 1,20,92,026 shares as against 1,30,84,656 shares on offer, according to stock exchange data at 15:30 IST on Thursday (19 June 2025). The issue was subscribed 0.92 times. The issue opened for bidding on Wednesday (18 June 2025) and it will close on Friday (20 June 2025). The price band of the IPO is fixed between Rs 210 and 222 per share. An investor can bid for a minimum of 67 equity shares and in multiples thereof. Buzzing Index: The Nifty PSU Bank index dropped 2.04% to 6,734.30. The index declined 3.14% for the three consecutive trading sessions. Central Bank of India (down 3.81%), Punjab & Sind Bank (down 3.75%), UCO Bank (down 3.36%), Bank of India (down 3.31%), Union Bank of India (down 3.07%), Canara Bank (down 3.06%), Indian Overseas Bank (down 3%), Punjab National Bank (down 2.46%), Indian Bank (down 2.16%) and Bank of Baroda (down 2.04%) declined. Stocks in Spotlight: Tata Elxsi fell 3.27%. The company announced that it has signed a memorandum of understanding (MoU) with Infineon Technologies to jointly develop application-ready EV solutions tailored to the Indian market. Markolines Pavement Technologies rose 1.61% after the company announced that it has secured a maintenance contract worth Rs 18.88 crore from Varanasi-Aurangabad NH-2 Tollway. AAVAS Financiers shed 0.35%. The companys board executive committee has approved raising up to Rs 200 crore through a private placement of non-convertible debentures (NCDs). Garware Technical Fibres declined 2.45%. The company announced that it has incorporated a wholly owned subsidiary (WOS), Garware Technical Fibres AS (GTF AS), in Norway. Marksans Pharma slipped 1.24%. The company announced that its wholly owned subsidiary Relonchem has received marketing authorization for the product Oxybutynin hydrochloride Oral Solution from UK Medicines & Healthcare Products Regulatory Agency (UKMHRA). Puravankara advanced 1.18% after the companys wholly owned subsidiary, Starworth Infrastructure & Construction, received a letter of intent (LoI) worth Rs 272 crore from Tru Dwellings. Elcid Investments fell 0.89%. The company announced that Ragini Vakil, chief financial officer (CFO) of the company has tendered her resignation with effect from 18 June 2025. Global Markets: US Dow Jones futures were down 187 points. Wall Street will be shut on Thursday for the Juneteenth holiday, with regular trading set to resume Friday. European shares declined on Thursday, as investors awaited the Bank of Englands rate decision due at midday. Norways central bank has cut interest rates by 25 basis points to 4.25% for the first time since the start of the Covid-19 pandemic. Norges Bank had in March suggested it was expecting to cut its key sight deposit rate in June, and followed through. The Swiss National Bank has cut interest rates by a further 25 basis points to 0% adding to concerns over a potential return to negative rates. Most Asian stocks ended lower as investors digested the U.S. Federal Reserves widely expected decision to keep interest rates unchanged. Adding to the cautious mood, ongoing tensions between Israel and Iran continued to weigh on sentiment. Taiwans central bank kept its policy rate unchanged at 2% on Thursday, as widely expected, given the islands robust tech-driven economy and moderating inflation, and maintained its economic growth outlook for the year. The Philippine central bank cut its key interest rate by quarter percentage point to 5.25% for a second time this year and signaled theres scope for further easing with inflation likely to remain modest and economic growth at risk from global uncertainties. As expected, the Fed held its benchmark rate steady at 4.25%-4.5% on Wednesday, marking no change since December. Fed Chair Jerome Powell indicated the committee would wait to assess the inflationary impact of President Trumps tariff measures before considering any policy shifts. Despite the hawkish pause, the Fed still pointed to two rate cuts by the end of the year. Geopolitical concerns remain front and center. Investor nerves were further rattled after Iran's Supreme Leader Ayatollah Ali Khamenei dismissed President Trump's calls for unconditional surrender. His remarks, delivered via a televised statement on Wednesday, were his first since Friday, when Israel escalated its offensive against Iran. Back on Wall Street, US equities ended mixed on Wednesday. The Dow slipped 0.10%, the S&P 500 edged down 0.03%, while the Nasdaq bucked the trend with a 0.13% gain.
