Stock Markets Mid-day Report, June 19, 2026: Markets Slump as IT Stocks Lead Broad Selloff; Accenture Guidance Cut Amplifies Pain

Mumbai, June 19: Indian equity markets remained deep in the red at midday on Friday, with the BSE Sensex at 76,608.31 — down 801.67 points or 1.04 per cent — and the NSE Nifty 50 at 23,950.75, shedding 217.25 points or 0.90 per cent as of 12:06 pm, with the previous close of Nifty at 24,168.00 and Sensex at 77,409.98. A technology-sector meltdown, triggered by Accenture’s overnight guidance cut, drove the session’s tone as IT heavyweights collapsed across the board, more than offsetting any cheer from the landmark US-Iran peace deal signed earlier this week. 

Opening Bell 

The BSE Sensex had tumbled 748.26 points or 0.97 per cent to 76,661.72 at 9:25 am, while the NSE Nifty 50 had shed 209.15 points or 0.87 per cent to 23,958.85 at the open, breaking below the psychologically critical 24,000 mark. India VIX, the market’s fear gauge, spiked 5.20 per cent to 13.33 at the open, signalling a sharp uptick in investor anxiety after five consecutive sessions of declining volatility. 

Top Gainers and Losers 

On the gainers’ side, NTPC (NSE: NTPC) rose 1.06 per cent, with its last traded price at Rs 365.80 against a previous close of Rs 361.95, as the power sector drew defensive buying interest. Bharti Airtel (NSE: BHARTIARTL) added 0.93 per cent, its LTP at Rs 1,892.30 versus the prior close of Rs 1,874.80, while Jio Financial Services (NSE: JIOFIN) climbed 0.89 per cent to Rs 246.28 from Rs 244.10. Power Grid Corporation (NSE: POWERGRID) inched up 0.54 per cent to Rs 290.25 from Rs 288.70, and Adani Enterprises (NSE: ADANIENT) rose 0.53 per cent to Rs 3,029.30 against a previous close of Rs 3,013.40.  

On the losing end, Infosys (NSE: INFY) bore the heaviest blow, crashing 7.93 per cent to Rs 1,038.10 from Rs 1,127.50 — its sharpest single-session decline in years — on the back of Accenture’s guidance downgrade. TCS (NSE: TCS) fell 5.96 per cent to Rs 2,072.00 from Rs 2,203.30, Tech Mahindra (NSE: TECHM) dropped 4.75 per cent to Rs 1,378.90 from Rs 1,447.70, and HCL Technologies (NSE: HCLTECH) shed 4.20 per cent to Rs 1,113.00 from Rs 1,161.80. Wipro (NSE: WIPRO) declined 2.95 per cent to Rs 177.45 from Rs 182.84. 

Broad and Sectoral Markets 

Across the broader market, the Nifty 100 shed 0.82 per cent to 25,026.30 from 25,233.65, the Nifty 200 fell 0.69 per cent to 13,873.35 from 13,970.35, and the Nifty 500 declined 0.55 per cent to 23,078.45 from 23,206.45, reflecting broad-based selling pressure even beyond the large-cap space. Against the tide, the Nifty Smallcap 100 edged up 0.25 per cent to 18,753.05 from 18,705.60, the Nifty Smallcap 250 rose 0.33 per cent to 17,670.55 from 17,612.60, and the Nifty Microcap 250 advanced 0.46 per cent to 25,015.95 from 24,901.20, suggesting retail-oriented smaller counters held up better than their larger peers.  

On the sectoral front, the Nifty IT index was by far the worst performer, crashing 5.43 per cent to 26,919.85 from 28,466.45 — its steepest single-day fall in recent memory. Nifty Realty fell 1.13 per cent to 810.95 from 820.20, and Nifty PSU Bank slipped 0.95 per cent to 8,687.20 from 8,770.70. Bucking the trend, Nifty Pharma advanced 0.42 per cent to 24,383.65 from 24,282.20, Nifty Healthcare Index rose 0.39 per cent to 15,614.95 from 15,553.60, and Nifty India Defence gained 0.54 per cent to 9,574.65 from 9,523.05 — the latter underpinned by sustained government-led capital expenditure narratives. 

Middle East: US-Iran Peace Deal 

The overarching macro backdrop for the session was the signing of a landmark 14-point interim US-Iran peace deal on Wednesday by US President Donald Trump and Iranian President Masoud Pezeshkian at Versailles, on the sidelines of the G7 summit — the first accord between American and Iranian presidents since Iran’s 1979 Islamic Revolution. The deal extends a ceasefire by 60 days, including in Lebanon, and includes a phased lifting of US sanctions on Iranian oil, raising expectations of a significant surge in global crude supply. Analysts estimate the agreement could release more than 85 million barrels of oil stranded in the Middle East Gulf into global markets — a development broadly positive for India as one of the world’s largest crude importers. However, the energy-side tailwind was overwhelmed on Friday by the sharp selloff in IT stocks triggered by Accenture’s warning of slowing discretionary tech spending and US federal business weakness. 

Asian Markets 

Asian markets traded mostly lower on Friday morning, mirroring the cautious global mood. The Hang Seng Index fell 1.59 per cent to 23,924.81, the S&P ASX All Ordinaries slipped 0.90 per cent to 9,044.70, and the Shanghai Composite shed 0.43 per cent to 4,090.48; the Nikkei 225 was an outlier, adding 0.37 per cent to 71,314.67, supported by yen weakness and tech-related buying in Tokyo. 

US Markets — Previous Close 

Wall Street closed on a mixed-to-positive note on Thursday, with the Nasdaq Composite surging 1.91 per cent to 26,517.93 and the S&P 500 gaining 1.08 per cent to 7,500.58, while the Dow Jones Industrial Average added a modest 0.14 per cent to 51,564.70. The divergence between US and Indian IT stocks reflects differing investor positioning — US markets saw selective buying in domestic tech names, while Indian IT exporters bore the brunt of Accenture’s commentary on client spending restraint and a $100 million revenue drag from the Middle East conflict. 

Oil Prices 

Crude oil prices fell sharply on Friday as tankers — including three Saudi-flagged vessels carrying 6 million barrels of crude — began moving through the Strait of Hormuz following the signing of the US-Iran deal. Brent crude futures fell 54 cents or 0.68 per cent to $78.31 a barrel, while US West Texas Intermediate slipped 46 cents or 0.60 per cent to $76.14 a barrel; the more actively traded August WTI contract stood lower at $75.06 a barrel. Both benchmarks touched their lowest levels since early March on Thursday, and analysts expect continued downward pressure as Iranian oil exports resume and supply builds in global markets. 

Source:

• nseindia.com
• bseindia.com