Pre-Market Update: Nifty 50 Set for Weak Opening on June 19; IT Stocks in Focus After Accenture Slashes FY26 Outlook

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The Indian stock market is likely to open lower on Friday, June 19, with information technology stocks expected to remain under pressure after Accenture reduced its FY26 revenue growth guidance and issued a weaker-than-expected outlook. The negative sentiment was reflected in the U.S. market, where the American Depository Receipts (ADRs) of Infosys and Wipro witnessed sharp declines.

At 7:31 AM, Gift Nifty was trading near 24,002, indicating a gap-down opening of around 166 points compared to the previous close of Nifty 50. Asian markets traded mixed, while Wall Street ended higher overnight, led by strong gains in technology stocks that pushed the Nasdaq nearly 2 per cent higher.

Investor attention remains on the implementation of the interim peace agreement between the U.S. and Iran. Officials from both countries are scheduled to meet in Switzerland to discuss the next steps of the agreement. The U.S. has lifted its maritime blockade on Iran, allowing shipping activity through the Strait of Hormuz to resume. However, geopolitical concerns persist as Israel has indicated reservations regarding the agreement and plans to maintain a military presence in parts of southern Lebanon.

Indian IT stocks may remain under pressure after Accenture lowered its FY26 revenue growth guidance. The company cited weaker client spending trends, softer deal bookings and limited near-term impact of artificial intelligence investments on customer budgets. Following the announcement, Infosys ADR fell nearly 10 per cent while Wipro ADR declined more than 9 per cent, raising concerns about growth prospects for the broader IT sector.

Accenture reported net income of USD 2.39 billion for the quarter ended May, compared with USD 2.24 billion a year ago. Revenue increased to USD 18.7 billion from USD 17.7 billion, while new bookings stood at USD 19.3 billion. Despite strong quarterly numbers, the company revised its FY26 revenue growth forecast to 3-4 per cent in constant currency terms from the earlier guidance of 3-5 per cent. Excluding the impact of its U.S. federal business, revenue growth is now expected at 4-5 per cent versus the previous estimate of 4-6 per cent. Accenture shares plunged nearly 18 per cent following the announcement.

In the U.S., initial jobless claims fell by 4,000 to 226,000 for the week ended June 13, broadly matching market expectations. Meanwhile, Japan's annual core inflation remained at 1.4 per cent in May, staying below the central bank's 2 per cent target for the fourth consecutive month.

Crude oil prices extended losses as concerns over disruptions in the Strait of Hormuz eased. Brent crude declined 0.84 per cent to USD 79.18 per barrel, while WTI crude fell 0.67 per cent to USD 76.09 per barrel. Gold prices also remained under pressure, with spot gold slipping 0.5 per cent to USD 4,189.26 per ounce and spot silver falling 0.8 per cent to USD 65.32 per ounce. The U.S. dollar index climbed 0.45 per cent to 100.80, its highest level since May 2025, following the Federal Reserve's hawkish commentary.

For the June expiry series, the Put-Call Ratio (PCR) stands at 1.11. On the put side, significant open interest addition and concentration were observed at the 24,000 strike. On the call side, the highest open interest and fresh additions were seen at the 24,500 strike.

From a technical perspective, Nifty 50 continues to hold above the crucial 24,000 mark, which remains an important support zone. Sustaining above this level could support further upside towards 24,300-24,450. However, a decisive breach below 24,000 may trigger profit booking and increase downside pressure, particularly if weakness in IT stocks intensifies.

Among stock-specific developments, Wipro will acquire an additional 20 per cent stake in Aggne Global IT Services and has completed a large multi-year data centre migration programme for METRO. HCL Technologies launched an AI Innovation Zone in Chennai to accelerate enterprise AI adoption using Intel-based solutions. Amber Enterprises India signed a manufacturing partnership with Oppo India to produce smartphones for Oppo, OnePlus and Realme.

HDFC Bank received RBI approval for a three-month extension of Keki Mistry's tenure as Interim Part-time Chairman until September 18, 2026. ImagicaaWorld Entertainment temporarily suspended operations at its Khopoli water park due to water shortage concerns and low dam levels. Diamond Power Infrastructure approved fundraising of up to Rs 2,000 crore through a qualified institutional placement (QIP), while TruAlt Bioenergy secured financial assistance of Rs 150 crore under the PM JI-VAN Yojana for its sustainable aviation fuel project.

General Insurance Corporation of India appointed Rajesh Laheri as Chief Financial Officer and Key Managerial Personnel. Bosch Home Comfort India's promoter exercised the oversubscription option in its offer-for-sale, increasing the total offer size to 7.97 per cent. Bharat Forge's Defence subsidiary entered a strategic partnership with AM General to expand mobile artillery solutions and export opportunities. Hindalco Industries announced a leadership transition in its copper business, appointing Kapil Agrawal as CEO (Designate).

Kaynes Technologies remains under the futures and options ban list for June 19.

Foreign Institutional Investors (FIIs) were net buyers of Indian equities worth Rs 1,025.20 crore on June 18. Domestic Institutional Investors (DIIs) purchased shares worth Rs 3,516.81 crore during the session.

Indian benchmark indices extended gains for a fifth consecutive session on June 18 despite Intraday volatility. Falling crude oil prices and easing geopolitical concerns helped offset the impact of the U.S. Federal Reserve's hawkish stance. The BSE Sensex rose 254 points, or 0.33 per cent, to close at 77,410, while the Nifty 50 gained 82 points, or 0.34 per cent, to settle at 24,168.

U.S. stock markets ended higher on Thursday, supported by strong gains in Semiconductor and technology stocks. Investor sentiment improved following the U.S.-Iran peace agreement and easing inflation concerns, although markets continued to factor in the possibility of further interest rate hikes by the Federal Reserve. The Dow Jones Industrial Average advanced 72.15 points, or 0.14 per cent, to 51,564.70. The S&P 500 gained 1.08 per cent to close at 7,500.58, while the Nasdaq Composite surged 1.91 per cent to 26,517.93.

Disclaimer: The article is for informational purposes only and not investment advice.

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