Nifty trades below 24,950 mark; realty shares drop

The key equity benchmarks continued to trade with major losses in mid-morning trade, weighed down by heavy selling in index-heavyweight IT stocks. Sentiment weakened after IT major Accenture trimmed its FY26 revenue growth forecast and highlighted revenue risks stemming from West Asia-related challenges. Further, investors remained cautious amid the U.S. Federal Reserve's policy stance, with persistent inflation concerns and expectations of interest rates staying higher for longer weighing on market sentiment.

However, market participants will closely monitor monsoon developments, FII activity, and inflation trends for directional cues. Nifty dropped below the 23,950 mark.

Realty shares declined after advancing in the past trading session.

At 11:25 IST, the barometer index, the S&P BSE Sensex tumbled 806.75 points or 1.04% to 76,603.23. The Nifty 50 index declined 219.70 points or 0.92% to 23,944.80.

In the broader market, the BSE 150 MidCap Index fell 0.15% and the BSE 250 SmallCap Index rose 0.21%.

The market breadth was positive. On the BSE, 1,978 shares rose and 1,897 shares fell. A total of 237 shares were unchanged.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 94.4550 compared with its close of 94.4025 during the previous trading session.

In the commodities market, Brent crude for August 2026 settlement jumped 17 cents or 0.21% to $80.02 a barrel.

Initial Public Offer(IPO):

TurtleMint received bids for 7,29,316 shares as against 3,29,01,878 shares on offer, according to stock exchange data at 11:12 IST on Friday (19 June 2026). The issue was subscribed 0.02 times.

The issue opened for bidding on 19 June 2026 and it will close on 23 June 2026. The price band of the IPO is fixed between Rs 144 and 152 per share. An investor can bid for a minimum of 98 equity shares and multiples thereof.

Buzzing Index:

The Nifty Realty index declined 1.09% to 811.25. The index rose 0.69% in the past trading session.

Prestige Estates Projects (down 2.76%), Brigade Enterprises (down 2.45%), Aditya Birla Real Estate (down 2.03%), Godrej Properties (down 1.66%), Anant Raj (down 1.63%), DLF (down 1.52%), Lodha Developers (down 1.13%), Sobha (down 1.09%) and Oberoi Realty (down 1.04%) declined.

Stocks in Spotlight:

B.R.Goyal Infrastructure rose 1.54% after the company announced that it had secured a work order worth Rs 13.05 crore for civil and construction works in Ratlam, Madhya Pradesh. The order has been awarded by LNJ for the execution of civil works related to its upcoming B2B project located at 29-30-31, Mega Smart Industrial Area, Ratlam. The scope of work includes the construction of roads, drains, culverts, and a pond, as per the approved bill of quantities (BOQ).

Global Markets:

Most Asian markets declined on Friday even as peace in the Middle East with the reopening of the Strait of Hormuz pulled oil prices even lower and eased inflation fears.

Mainland China and Hong Kong's stock markets are closed for the Dragon Boat Festival holiday. Taiwan was also on holiday.

The U.S. dollar was on a tear, hovering near a 13-month high on its major peers, after a hawkish turn from the Federal Reserve led markets to price in more than one rate hike this year.

As per reports, oil tankers have started sailing through the Strait of Hormuz after the United States lifted its blockade on Iran on Thursday as an interim deal to end the three-month war took effect.

Overnight on Wall Street, U.S. stocks rose on Thursday, staging a comeback after the Federal Reserve indicated the possibility of a rate hike this year ? a move that sparked a sell-off in equities during the previous session.

The S&P 500 added 1.08%, closing at 7,500.58, and the Nasdaq Composite climbed 1.91% to 26,517.93. The Dow Jones Industrial Average rose by 72.15 points, or 0.14%, to end at 51,564.70.

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