The Reserve Bank of India will conduct a Rs 1 lakh crore variable rate repo auction on June 19. This move aims to manage liquidity in the banking system. The auction will help keep overnight money market rates stable. This follows recent liquidity infusions by the central bank. The RBI is actively managing funds to ensure smooth financial operations.
Infosys and Wipro ADRs plunged following Accenture’s reduced FY26 revenue forecast. This downgrade highlights enterprise caution regarding discretionary IT spending, impacting Indian IT giants despite their AI investments and ongoing transformation projects, overshadowing recent cybersecurity acquisitions.
SEBI has proposed reforms to the Margin Trading Facility, including increasing broker net-worth requirements to Rs 5 crore, permitting LLPs to offer MTF, and expanding funding avenues. These changes aim to enhance operational efficiency and strengthen risk management for brokers.
Charles Ellis highlights how stocks often decline together during market stress, challenging the perceived safety of diversification. The piece explains how investor sentiment drives correlations higher in crises and why long-term investors should remain disciplined, as such phases are temporary and often followed by recovery led by fundamentally strong companies.
The Sensex rose 254 points to close at 77,409 on Thursday, lifting broader markets. Ten BSE 150 MidCap stocks touched fresh 52-week highs, signalling strong investor confidence. GE Vernova T&D India led gains, while banking, infrastructure and industrial stocks also advanced.
Accenture has lowered its annual revenue growth forecast. Companies are still cautious about spending on technology. This is happening even as they invest in artificial intelligence and cybersecurity. Accenture is acquiring cybersecurity firms to boost its capabilities. The company expects revenue for the fourth quarter to be below estimates. This signals a broader trend in the consulting industry.
While benchmark indices moved steadily, broader market momentum surged, with many BSE 500 stocks delivering double-digit gains, several rallying 25–50% in a month, highlighting strong stock-specific performance beneath calm markets.
The Nifty has crossed the 24,000 mark, with analysts seeing potential for a move towards 24,600. Support is seen around 23,800, making dips attractive for buyers. However, the IT sector continues to face selling pressure, with a neutral to bearish outlook. Investors are advised to watch for buying opportunities in the broader market and sell rallies in IT stocks.
Redington shares surged over 10% after Apple CEO Tim Cook signalled potential price hikes due to rising memory and storage costs driven by AI demand. Investors bet on improved margins for Redington, a key Apple distributor, even as the company reported a year-on-year decline in quarterly profit despite strong revenue growth.
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