Indian stock market: India’s benchmark equity indices, the Sensex and Nifty 50, snapped their five-day winning run on Friday, June 19, as a steep decline in information technology stocks followed Accenture’s downward revision of its revenue growth forecast. Market sentiment was also led by weak global market trends, a return of foreign institutional investor (FII) selling, and ongoing geopolitical concerns.
The Sensex fell 607 points, or 0.78%, to close at 76,802.90, while the Nifty 50 declined 154.90 points, or 0.64%, ending the session at 24,013.10.
During intraday trading, the Sensex tumbled over 900 points, breaching the 76,500 level, while the Nifty 50 fell more than 200 points to slip below 23,950. The sharp sell-off followed a strong rally in the benchmark indices, which had gained nearly 5% over the preceding five trading sessions.
Stock Market Outlook next week
According to Ponmudi R, CEO at Enrich Money, investor attention in the week ahead is likely to remain firmly focused on developments surrounding the U.S.–Iran peace process.
“Reports that US and Iranian negotiators are once again heading to Switzerland for fresh talks, just a day after the planned negotiations were called off, coupled with the implementation of the Israel–Lebanon ceasefire, have revived hopes for a broader diplomatic breakthrough in the region. As a result, markets are likely to remain highly sensitive to developments on the geopolitical front, with any further progress expected to provide additional support to global risk sentiment,” Ponmudi said.
Top 5 triggers for the Indian stock market
1] US-Iran peace deal
Talks between the US and Iran aimed at securing a permanent ceasefire were scheduled to begin on Sunday in Switzerland, with senior officials, including US Vice President JD Vance, expected to participate. The discussions are proceeding despite Iran’s renewed directive to shut the Strait of Hormuz.
The long-time rivals are coming to the negotiating table after separate confrontations in southern Lebanon involving Israeli forces and Iran-backed Hezbollah delayed the talks. Negotiations are taking place within a 60-day framework established under a memorandum of understanding signed by Donald Trump during a visit to Paris on Wednesday, although the agreement includes provisions for an extension if needed.
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