Share Market Today: Nifty Snaps 5-Day Rally as IT Stocks Crash
Sensex plunged 607 points and Nifty closed at 24,013 on June 19, snapping a 5-day rally. A 3.7% crash in IT stocks following Accenture's weak guidance and delayed US-Iran peace talks dragged benchmarks lower. Read the full market analysis here.
Indian Stock Market Today | The Indian equity benchmark indices ended sharply lower on Friday (June 19), snapping their five-session winning streak.
Both the BSE Sensex and NSE Nifty 50 remained under selling pressure throughout the trading session as investors aggressively booked profits following the recent market run-up.
Market sentiment turned cautious as sudden diplomatic hurdles over the highly anticipated US-Iran peace treaty triggered a fresh wave of risk aversion.
At the Closing Bell:
- BSE Sensex: Tanked 607.08 points to close at 76,802.90
- Nifty 50: Fell 154.90 points to settle at 24,013.10
- Nifty Bank: Declined 278.05 points to finish at 57,685.75
Broader Market Outperforms
Despite the cuts in the headline indices, risk appetite in mid and small-cap segments remained intact.
The Nifty Smallcap 100 advanced 0.4% and the Nifty Midcap 100 rose 0.2%, signaling that the sell-off was concentrated in large-caps.
Why Did the Indian Stock Market Fall Today?
The major triggers driving today's market fall include:
- US-Iran Peace Pact Delayed
Geopolitical uncertainty flared up after Switzerland officials confirmed that the scheduled Friday talks to sign the permanent Middle East peace pact between the US and Iran would not take place.
The sudden delay occurred as US Vice President JD Vance cancelled his travel plans to the European summit, putting the timeline for a lasting truce on shaky ground.
Compounding the diplomatic hitch, Israel's military launched intensive overnight air strikes targeting infrastructure throughout southern Lebanon following reports of heavy ground friction with Hezbollah.
- Accenture Guidance Cut Triggers IT Sell-Off
IT stocks faced a massive blow after global tech consulting giant Accenture slashed its annual revenue growth guidance. The warning sent shockwaves through Dalal Street, making Nifty IT the worst-performing sectoral gauge of the day, tumbling 3.7%.
Tech heavyweights like Infosys, TCS, HCL Tech and Tech Mahindra witnessed aggressive selling to finish among the top losers on the Nifty 50.
Nifty Today & Major Indices Overview
Technical Analysis: Nifty & Bank Nifty Levels
NIFTY 50: Opened 176.80 points lower at 23,991.20, reached a high of 24,047.20 and closed at 24,013.10.
- Immediate Support: 23,900
- Immediate Resistance: 24,050
BANK NIFTY: Opened 208.85 points lower at 57,754.95, reached a high of 57,804.90 and closed at 57,685.75.
- Immediate Support: 57,500
- Immediate Resistance: 57,800
World Markets, Crude & Gold Prices
- Global Equities: Asian markets traded mixed on Friday, with Hong Kong and China closed for a holiday. European equities were mildly positive, supported by gains in energy and healthcare stocks.
- Crude Oil: Oil prices steadied on Friday but remained on track for a weekly decline of over 8%. Brent crude futures were largely unchanged at around $79.78 per barrel.
- Gold Prices: The yellow metal declined on Friday and was headed for a third consecutive weekly loss, weighed down by a stronger U.S. dollar and hawkish signals from the Federal Reserve.
Turn Market Insights into Action
Discover stocks, analyze opportunities and trade securely in your own broker account with Liquide. Get expert trade setups from our research desk along with real-time market tracking and commentary.
You can also get instant stock insights and answers to your queries using LiMo, our AI-powered stock assistant.
Download the Liquide App now from the Google Play Store and Apple App Store.
This document has been issued by Liquide Solutions Private Limited for information purposes only and should not be construed as
i) an offer or recommendation to buy or sell securities, commodities, currencies or other investments referred to herein; or
ii) an offer to sell or a solicitation or an offer for the purchase of any of the baskets of Liquide Solutions; or
iii) investment research or investment advice. It does not have regard to specific investment objectives, financial situation and the particular needs of any specific person who may receive this document. Investors should seek personal and independent advice regarding the appropriateness of investing in any of the funds, securities, other investment, or investment strategies that may have been discussed or referred to herein and should understand that the views regarding future prospects may or may not be realized. In no event shall Liquide Life Private Limited and/or its affiliates or any of their directors, trustees, officers and employees be liable for any direct, indirect, special, incidental or consequential damages arising out of the use of information/opinion herein.