GIFT Nifty

The GIFT Nifty, an early indicator for the benchmark Nifty 50, is down 0.28% at 23,107 as of 6:40 a.m. US equity-index futures (S&P 500) and European futures (Euro Stoxx 50) are lower by 0.32% and 0.67%, respectively.

India Market Recap

Indian equity benchmarks extended losses for the second consecutive session amid broad-based selling pressure across sectors. The BSE Sensex declined 0.97% to close at 73,524.26, while the NSE Nifty 50 fell 1.04% to settle at 23,123. Weak investor sentiment weighed heavily on large-cap, mid-cap and small-cap stocks alike. Broader markets underperformed the benchmark indices, highlighting the depth of the correction. The Nifty Midcap 150 index declined more than 1.5%, while the Nifty Smallcap 250 dropped over 2%. On the technical front, Nifty support is placed in the 22,800–23,000 range, while resistance is seen between 23,500–23,550.

US Market Recap

US markets rebounded strongly as renewed optimism around artificial intelligence supported technology stocks following the biggest selloff since 2020. Chipmakers led the recovery, with Nvidia and Micron Technology surging 5.6%. The Nasdaq 100 jumped 1.6%, helping the broader market continue its rebound from recent geopolitical-driven lows. However, gains remained uneven across sectors, with Apple shares declining 1.9%.

Asian Market Update

Asian markets traded higher on Tuesday as investor sentiment improved following signs of easing geopolitical tensions between Israel and Iran. Japan’s Nikkei 225 rose more than 1% at the open, while South Korea’s Kospi rebounded sharply by 4% after heavy losses in the previous session. Australia’s S&P/ASX 200, however, declined 1.33%. Hong Kong’s Hang Seng futures indicated a slightly weaker opening compared with the previous close.

Commodity Check

Crude oil prices steadied after Israel and Iran reportedly agreed to halt attacks, reducing fears of a broader conflict that could disrupt global energy supplies. Brent crude traded near $94 per barrel after ending the previous session marginally higher, while WTI hovered above $91 per barrel. Gold prices also remained steady, with bullion trading near $4,320 per ounce.

Stocks In News

• JSW Energy: The company successfully commissioned its Halol Wind Blade Manufacturing Plant in Gujarat.
• Titan Company: The jewelry and watchmaker redeemed Commercial Papers worth Rs 1,000 crore.
• Aye Finance: The board approved the issuance of Non-Convertible Debentures (NCDs) worth $15 million on a private placement basis.
• Goldiam International: Announced the opening of its 25th retail store for lab-grown diamond jewellery under its brand name "ORIGEM".
• JNK India: Secured a "large" order (which the company classifies as Rs 100-300 crore) from CC7 Emirates Engineering Solutions. It also secured another large export order for an Incinerator Package and Waste Gas Handling Systems.
• Shanti Gold International: Commenced commercial production at its new manufacturing facility in Mumbai.
• HCLTech: The IT services giant launched a dedicated AI Innovation Zone in collaboration with Google Cloud in the United States.
• RVNL: Secured an Rs 221 crore Letter of Acceptance (LoA) from the South East Central Railway for the replacement of panel interlocking with electronic interlocking systems.
• Nibe: Allotted 3.2 lakh shares upon the conversion of warrants at an issue price of Rs 1,258 per share to the Eminence Global Fund.
• Grasim Industries: The company plans to invest a massive Rs 3,094 crore to expand its Lyocell capacity at its facility in Karnataka.
• Panacea Biotec: Launched the "DENSTAR" project aimed at developing a dengue vaccine specifically for Africa.
• Aditya Birla Fashion and Retail: Its digital arm, TMRW, acquired an additional 10% stake in its subsidiary, Bewakoof.
• Lemon Tree Hotels: Signed a new franchise agreement for a Key Prima hotel in Rajasthan, which will feature 88 rooms alongside restaurants and other amenities.
• Adani Enterprises: A step-down subsidiary acquired a 100% stake in Portus Ventures to undertake new real estate activities.
• Electronics Mart: Commenced operations at a newly opened store in Telangana.
• TCS: The IT major launched a specialized business unit to help global enterprises build and scale Global Capability Centres (GCCs).
• Avenue Supermarts: The operator of D-Mart invested Rs 150 crore into its subsidiary, Avenue E-Commerce.
• Motilal Oswal Financial Services: Successfully incorporated a new subsidiary, Motilal Oswal Pension Fund Management.
• Amber Enterprises: Received final approval from the NCLT Chandigarh Bench for the merger of its subsidiary, AmberPR Tech, into the parent company.
• Persistent Systems: Approved the transfer of a 100% stake in Persistent Systems UK to the Aepona Group. The board also approved the merger of its subsidiary, MediaAgility India, into the parent company.
• Ather Energy: The board will meet on June 12 to consider a potential fundraise via the issuance of bonds.