The key equity benchmarks ended with major losses on Friday, snapping their five-session winning streak, weighed down by heavy selling in index-heavyweight IT stocks. Sentiment weakened after IT major Accenture trimmed its FY26 revenue growth forecast and flagged potential 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 ended below the 24,050 mark.

IT, oil & gas and realty shares declined while pharma, media and metal shares advanced.

As per provisional closing data, the barometer index, the S&P BSE Sensex tumbled 607.08 points or 0.78% to 76,802.90. The Nifty 50 index declined 154.90 points or 0.64% to 24,013.10. In the past five trading sessions, the Sensex jumped 4.85% and Nifty climbed 4.35%.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index jumped 0.27% and the BSE 250 SmallCap Index rose 0.51%.

The market breadth was positive. On the BSE, 2,234 shares rose and 1,995 shares fell. A total of 194 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 2.34% to 12.97.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 94.3425 compared with its close of 94.4025 during the previous trading session.

In the commodities market, Brent crude for August 2026 settlement declined 39 cents or 0.49% to $79.46 a barrel.

Initial Public Offer (IPO):

TurtleMint Fintech Solutions received bids for 1,46,43,160 shares as against 3,29,01,878 shares on offer, according to stock exchange data at 15:30 IST on Friday (19 June 2026). The issue was subscribed 0.45 times.

The issue opened for bidding on 19 June 2026 and it will close on 23 June 2026. The price band of the IPO is fixed between Rs 144 and 152 per share. An investor can bid for a minimum of 98 equity shares and multiples thereof.

Buzzing Index:

The Nifty IT index tanked 3.65% to 27,426.85 after Accenture now expects FY26 revenue growth of 3% to 4% in local currency, compared with its earlier forecast of 3% to 5%. Excluding the impact of its U.S. federal business, the company expects growth of 4% to 5%, down from 4% to 6% projected earlier. The index fell 4.80% in the two consecutive trading sessions.

Infosys (down 6.75%), LTM (down 4.14%), Tata Consultancy Services (down 3.55%), Mphasis (down 2.96%), Tech Mahindra (down 2.63%), HCL Technologies (down 2.59%), Persistent Systems (down 2.26%), Coforge (down 1.33%) and Wipro (down 1.12%) declined.

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. Under the agreement, MSP Steel & Power will procure power from a 10 MWp (DC) contracted solar capacity at a tariff of Rs 3.17 per unit for a period of 25 years from the date of execution of the PPA.

Hiliks Technologies surged 9.86% 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 hit an upper circuit of 5% 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 2.70% 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 surged 9.35% 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.

Bharat Forge advanced 1.45% after the company announced that its defence subsidiary, Kalyani Strategic Systems, has signed a strategic partnership with AM General, a leading military vehicle mobile defense capabilities solutions provider, at the Eurosatory defence exposition. The company said the strategic partnership between AM General and Kalyani Strategic Systems (KSSL) addresses the requirements of modern armies in an evolving combat scenario by providing compact, robust, lightweight, rugged, mobile, all-weather, all-terrain next-generation mounted artillery gun platforms with a distinct competitive edge.

3i Infotech rose 0.06% after the company received an order worth Rs 14.71 crore from National Commodity & Derivatives Exchange for renewal of managed services, onsite facility management services (FMS) and asset management services. The contract, awarded for a period of three years from 1 April 2026 to 31 March 2029, covers a wide range of IT infrastructure support services. These include infrastructure management, endpoint support, data centre operations, disaster recovery operations, server administration, database administration, network security administration, network administration, and end-user support services.

Global Markets:

European market advanced as easing geopolitical tensions following US 'Iran peace agreement boosted investor sentiment.

Asian markets ended mixed 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. US market will remain closed today on account of Juneteenth.

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.

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