Ahmedabad, 19 June: Nifty extended its rally for the fifth consecutive session, gaining 82 points to close at 24,168. Broader markets mirrored the strength, continuing their upward momentum for the fifth consecutive session. The Indian rupee remained the top performer among Asian currencies, appreciating by 20 paise to 94.33, its highest level since May 8, 2026, supported by renewed capital inflows and easing crude prices.
Technically, Nifty has closed above the crucial 100 DEMA resistance at 24,153 for the first time since the escalation of the West Asia conflict in February 2026, signaling a meaningful shift in the positional trend and reinforcing the bullish undertone. Following this breakout, Nifty is now poised to rally towards its 200 DEMA, placed near 24462.
On the downside, immediate support is placed in the 23,800–24,000 zone. Any corrective dip toward this region is likely to attract buying interest, provided the index sustains above it. Indian markets are likely to open lower with IT stocks expected to remain under pressure following Accenture’s weak outlook.
Wall Street Ends Higher as U.S.–Iran Peace Deal Lifts Sentiment
Wall Street closed higher on Thursday, with sentiment buoyed by an interim peace accord between the U.S. and Iran, signalling a halt to military operations and the immediate reopening of the Strait of Hormuz. The agreement sets the stage for a two-month negotiation period aimed at reaching a comprehensive deal.
The benchmark S&P 500 surged 1.1% to 7,497.86, while the Nasdaq Composite outperformed with a 1.9% jump to 26,517.93. The Dow Jones Industrial Average edged up 0.1% to 51,565.26. U.S. markets will remain shut today on account of the Juneteenth holiday.
Intel led the semiconductor rally, soaring 10.6% after former President Donald Trump announced a chip design partnership with Apple in the U.S. Peers followed suit, with Nvidia gaining around 3% and Micron Technology advancing nearly 9%, while the SOXX ETF rallied over 6%.
Oil prices dropped to their lowest levels since the onset of the Iran conflict after the agreement was signed, though they rebounded marginally after U.S. Vice President JD Vance cautioned Israel against escalating tensions with Iran-backed Hezbollah, raising questions over the durability of the ceasefire. Oil prices trading slightly lower today, with WTI July futures trading at $76.50 a barrel and Brent is trading around $79. 50 a barrel.
Asian markets are largely trading higher, with Japan’s Nikkei 225 and South Korea’s Kospi hitting fresh record highs, gaining 3% and 0.6% respectively. Meanwhile, markets in mainland China and Hong Kong remain shut for the Dragon Boat Festival.
In the U.S., Accenture reported weak earnings and trimmed its full-year revenue guidance to 3–4%, down from its earlier estimate of 3–5%. The stock plunged 18%, marking its steepest single-day decline on record. The weakness spilled over to peers, with Cognizant falling 11% and Capgemini declining nearly 9%. Consequently, Infosys ADRs dropped nearly 10%, while Wipro ADRs fell 3.6%.- Report by Mr. Nandish Shah – Deputy Vice President, HDFC Securities
(Disclaimer: The information provided here is investment advice only. Investing in the markets is subject to risks and please consult your advisor before investing.)
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