Share Market News Today: Domestic benchmark equity indices opened lower on June 19.The Sensex opened 40.72 points or 0.049 per cent lower at 81,403.94 levels. On the other hand the Nifty 50 opened 8.8 points or 0.03 per cent lower at 24803.25. In the early hours of June 19, the Nifty Midcap 100 declined 0.03 per cent and the the Nifty Smallcap 100 declined around 0.01 per cent. The Nifty Auto, Nifty Realty and the Nifty Consumer Durables index traded in the green up by as much as 0.31 per cent at the time of writing. Other key indices such as the Nifty IT and the Nifty Bank traded in the red.
D-Street is expected to factor in several macroeconomic developments in trade on June 19 ranging from US Federal Reserve’s Policy decision to esclating tensions between Iran and Israel. Notably on June 19, the conflict between the two countries has stretched for the seventh day. Amid the rising tensions US President Donald Trump held a ‘Situation Room’ meeting to deliberate upon America’s stance on the situation. On the other hand the US Federal Reserve announced its decision on June 18 to keep interest rates steady. So far the interest rates have been kept unchanged for four consecutive meetings. However the US Fed still anticipates two rate cuts by the end of 2025.
Nifty Gainers and Losers
In early trade IT stocks such as Tech Mahindra and Infosys emerged as the top-losers among Nifty constituents as they traded lower by as much as 1.43 per cent. Shares of IndusInd Bank, Dr Reddy’s Laboratories and HDFC Bank also traded lower. On the other hand shares of Jio Finance, Hero Motocorp and Eicher Motors gained in early trade, rising as much as 0.71 per cent.
Nasdaq Composite Bucks Trend
Key US market indices finished Wednesday’s session mixed as the Dow Jones Industrial Average ended at 42,171.66 lower by 44.14 points or 0.1 per cent. The S&P 500 also finished the session lower by 0.03 per cent or 1.85 points at 5,980.87 levels. However amid the weak global cues the Nasdaq Composite finished in the green up by 25.18 points or 0.13 per cent.
Asian Markets Decline In Early Trade
In the early hours of June 19, key Asian market indices traded in the red amid the escalating tensions between Israel and Iran. Japan’s Nikkei 225 index traded at 38,597.16 down by 287.99 points or 0.75 per cent. Hong Kong’s Hang Seng index also fell 336.73 points or 1.42 per cent. The KOSPI and the Shanghai Composite index also slipped as much as 0.49 per cent.
Commodity Prices On June 19
In the early hours of June 19, crude oil prices fell as the developing situation in West Asia increased caution amid investors regarding probable disruptions in global supply chains. Brent crude declined 0.34 per cent to $74.88 per barrel on the other hand the WTI declined 0.74 per cent to $76.13 per barrel.
The demand for safe haven assets increased amid the rising tensions which in turn increased gold prices. The price of one gram of gold with a purity of 24 karat is Rs 10,107, the price for a gram of 22 karat gold is Rs 9,266 22 and the price of one gram of 18 karat gold is Rs 7,582 as per the Goodreturns website.
