Indian equity markets extended their winning streak for the fifth consecutive session on Thursday, marking a positive trend amid supportive global cues. As per ETMarkets, the Nifty has surpassed another important hurdle -- its medium-term moving average, the 100-day EMA, near the 24,150 mark and now appears poised to inch towards the 24,500–24,600 zone. The ongoing buoyancy in banking majors, coupled with rotational buying across heavyweight stocks, continues to support the prevailing uptrend. Gift Nifty trading above 23 points to 24,012 in early morning indicates a positive opening for Friday's session, with investor sentiment further supported by the Iran-US peace agreement that has eased global energy tensions. The peace deal has US forces removed naval blockade on Iran, paving the way to open the Strait of Hormuz, the chokepoint through which over 20% of global oil and gas goes. Following the agreement, crude oil prices eased sharply to come down near pre-war levels, with WTI and Brent crude oil prices falling to $76 and $79 per barrel, respectively.
IT stocks are likely to remain in focus after global IT consulting major Accenture lowered its revenue growth forecast and projected quarterly sales below Wall Street estimates. As per Upstox, Accenture shares tumbled more than 17% following the announcement, triggering a sell-off across the IT sector. The Dublin-headquartered firm now expects annual revenue growth of 3% to 4%, compared with its earlier forecast of 3% to 5%. Accenture said the ongoing conflict in Iran weighed on its consulting business in the Middle East, resulting in a $400 million hit to its regional operations during the third quarter. The company also warned of further impact in the fourth quarter, highlighting the broader disruption the conflict has caused for businesses globally. Infosys ADRs came under pressure on June 18 after Accenture lowered its annual revenue growth forecast, with the company's American Depository Receipts declining more than 7%, reflecting concerns over demand trends in the global IT services sector.
According to latest technical analysis, Sensex formed a bullish candle on daily charts and an uptrend continuation formation on intraday charts, indicating further uptrend potential. As per Kotak Securities, for trend-following traders, 77,200 and 77,000 would act as key support zones, with the index likely to continue its uptrend as long as it trades above these levels. On the higher side, it could bounce back to 77,800 - 78,000, while falling below 77,000 would make the uptrend vulnerable. Nifty 50 formed a positive candlestick pattern on daily timeframe and managed to close above the important 100-Day DEMA level of 24,153, with technical analysts suggesting a decisive breakout of 24,150 could open sharp buying in the market and pull Nifty 50 towards 24,400 - 24,500 levels in the near term. The ongoing buoyancy in banking majors, coupled with rotational buying across heavyweight stocks, continues to support the prevailing uptrend.
Reliance Industries will hold its annual general meeting today, with investors tracking commentary on new energy initiatives, the proposed listing of Jio Platforms, and capital allocation plans across businesses. As reported by Business Standard, IT stocks are likely to remain in focus after Accenture shares fell over 14% following the company's narrowed annual revenue growth forecast and weaker-than-expected fourth-quarter guidance. Infosys ADRs declined over 7%, while Wipro ADRs fell more than 8% following Accenture's guidance revision, despite steady quarterly earnings. Wipro announced a significant development as it will increase its overall shareholding in Aggne Global IT to 80% following the completion of a cash transaction expected by June 30, 2026. This follows the company's earlier announcement regarding the acquisition of 20% additional stake in the US-based affiliate for $28.5 million. HCL Technologies launched an AI Innovation Zone in Chennai to support enterprises in developing and deploying Intel-based AI solutions at scale, combining Intel-based AI products with HCLTech's AI offerings to enable businesses to move from pilot projects to production-ready AI deployments.
HDFC Bank received positive news as the Reserve Bank of India has extended the tenure of Keki Mistry as interim part-time chairman until September 18, 2026. In a regulatory filing on June 18, HDFC Bank said the RBI granted approval for the extension of Mistry's tenure for a further period of 3 months until September 18, 2026. Mistry, a veteran of the HDFC Bank Group, was appointed as the interim chairman on March 18, following the resignation of the bank's non-executive chairman, Atanu Chakraborty. Bosch Global Software Technologies has decided to exercise the oversubscription option in the ongoing offer-for-sale (OFS), selling an additional 2.02 lakh shares, equivalent to a 0.75% stake, over and above the base offer of 19.63 lakh shares. As a result, the total OFS size will increase to 21.66 lakh shares, representing a 7.97% stake, with the issue closing on June 19. Amber Enterprises India has entered into a manufacturing partnership with OPPO Mobiles India, with Amber Group manufacturing mobile phones for the OPPO, OnePlus and Realme brands in India, strengthening its presence in the electronics manufacturing space.
Kalyani Strategic Systems, the defence arm of Bharat Forge, has signed a strategic partnership with AM General at the Eurosatory defence exposition. The collaboration aims to expand global distribution of advanced artillery systems and strengthen export opportunities, with AM General also submitting a proposal for the US Army's Mobile Tactical Cannon programme. TruAlt Bioenergy has secured approval for financial assistance of ₹150 crore under the Centre's PM JI-VAN Yojana to support its proposed commercial-scale Sustainable Aviation Fuel (SAF) project aimed at promoting cleaner fuel alternatives. Brigade Enterprises announced a strategic partnership with a landowner for a project site in Bangalore, with the company emphasizing that the land has been in continuous possession since 1985 and no objections were received during the regulatory process. Diamond Power announced that its board has approved the schedule for its 32nd annual general meeting and determined the payment date for its final dividend for the 2025-26 financial year.
ACME Solar Holdings received a positive rating as ICRA assigned a long-term rating of [ICRA]AA- (Stable) to its subsidiary ACME Heergarh Powertech's term loan and credit enhancement limits. According to Business Standard, Bosch Home Comfort India Ltd saw promoter Bosch Global Software Technologies exercise the oversubscription option in the ongoing OFS, increasing the offer size to 21.67 lakh shares. Additionally, Mahindra Industrial Park Chennai announced that YKK India will set up a new manufacturing facility at Origins by Mahindra, Chennai. Diamond Power announced that its board has approved the schedule for its 32nd annual general meeting and determined the payment date for its final dividend for the 2025-26 financial year.
