South Indian Bank, one of India's leading private sector banks has revised their interest rate on its Foreign Currency Non-Resident (Bank) [FCNR(B)] USD Deposits to 6.50% per annum for deposits with a maturity period of three to five years, offering Non-Resident Indians (NRIs) a rewarding opportunity to earn favourable returns on their foreign currency savings.

The rate revision follows the Reserve Bank of India's recent introduction of a USD/INR Forex Swap Facility for fresh FCNR(B) deposits mobilised for a tenure of three to five years. Under the facility, banks can swap eligible FCNR(B) deposits with the RBI in US dollars, enabling them to mobilise stable foreign currency deposits while effectively managing currency risk.

The RBI scheme is available for eligible FCNR(B) deposits accepted up to September 30, 2026, with the swap facility remaining open till October 16, 2026.

Reliance Industries reported capital expenditure of Rs 1,44,271 crore ($15.2 billion) in FY26. Over the last five years, cumulative capex reached Rs 6,48,428 crore (over US$68.4 billion), the highest by any Indian company, accounting for nearly one-third of total capital invested by India's top 50 corporates.

Aviation, logistics, chemicals, paints, tyres and cement companies are among the sectors that are likely to benefit when fuel prices decline. Read full report here

Persistent Systems (BSE: 533179 and NSE: PERSISTENT), a global Digital Engineering and Enterprise Modernisation leader, has been recognized as the winner of the CII Award for Excellence in Disability Inclusion 2026 in the category "Best Employer - Physical Accessibility." The recognition acknowledges the Company's approach to embedding accessibility across workplaces, digital platforms and talent programs through governance, leadership accountability and the implementation of global accessibility standards.

Stock Market Today: Nearly 1,500 stocks declined on the NSE, outnumbering gainers by a significant margin. Read full report here

Mohit Gurjar, Founder, BrainWing

The recent US-Iran ceasefire and the subsequent decline in crude oil prices are encouraging developments for the Indian real estate sector. Lower oil prices can help ease inflationary pressures, stabilize construction and logistics costs, and support a more favorable interest rate environment, all of which strengthen overall market confidence.

At BrainWing, we closely track buyer engagement across real estate projects, and one consistent trend is that purchasing decisions accelerate when economic uncertainty reduces. Improved sentiment often translates into higher inquiry volumes, stronger buyer confidence, and faster sales conversions for developers.

While real estate demand is ultimately driven by project quality, location, and affordability, sustained stability in global energy markets can act as a meaningful catalyst by improving both consumer confidence and business sentiment. This creates a more supportive environment for developers looking to drive sales and for homebuyers planning long-term investments."

Generative AI (GenAI) has the potential to drive significant performance gains in India's real estate sector, with EY-Parthenon-CREDAI latest report titled, GenAI in Indian Real Estate indicating that developers could see a 30-50% improvement in sales velocity and around 30% faster product launches. These possibilities stem from AI-driven customer intelligence, automated design workflows and predictive project monitoring, signaling a shift from scale-driven operations to a more intelligence-led approach to real estate.

Early adopters could experience strong operational benefits, including 20-50% improvement in workforce productivity, 20-50% lower customer acquisition costs, and decision cycles that may compress from "months to weeks or days." The EY Parthenon- CREDAI report notes that such advancements have the potential to reshape how developers assess feasibility, plan projects, manage construction and engage with customers. 

The rupee appreciated 20 paise to 94.20 against the US dollar in early trade on Friday on optimism that trade negotiations between India and the United States are set to gain momentum. 

As of 11:00 am, the Nifty50 was down 224.15 points or 0.93 per cent at 23,943.85, and the Sensex fell 817.64 points or 1.06 per cent to 76,592.34.

Ajeet Kumar Singh, MD & Co-Founder, SAVE Group

"The extension of CGSMFI 2.0 is a timely and progressive step that reinforces the Government's commitment to strengthening financial inclusion and supporting underserved communities. By enhancing credit guarantees for the microfinance sector, this initiative will encourage responsible lending, improve access to formal finance for low-income households and micro-entrepreneurs, and provide greater confidence to financial institutions serving the last mile.

At a time when millions of aspiring entrepreneurs and families are seeking opportunities for economic advancement, such policy support will play a crucial role in expanding credit outreach while maintaining the sustainability of the microfinance ecosystem. We believe the extension of CGSMFI 2.0 will further accelerate inclusive growth and contribute meaningfully to India's vision of building a financially empowered and self-reliant society."

Yashank Wason, Managing Director, Royal Green Realty

"The opening of the Strait of Hormuz under the recently signed U.S.-Iran MoU is a positive development for India's real estate sector. Stable oil prices and smoother trade movement can help reduce uncertainty around construction and transportation costs. This creates a more predictable environment for developers and investors. Improved global stability also strengthens economic confidence, which can encourage higher investment activity. As India continues to witness strong demand for residential and commercial spaces, positive investor sentiment could support growth across major cities and emerging real estate markets in the coming years."

Avinash Shekhar, Co-Founder & CEO, Pi42

"Bitcoin and the broader crypto market remain under pressure after the Federal Reserve struck a more hawkish tone, prompting investors to reassess exposure. While the immediate reaction has been cautious, the market's focus is increasingly shifting from macro headlines to whether demand can continue absorbing supply at current levels.

What stands out is that despite the correction, on-chain data suggests larger market participants are not aggressively exiting. CryptoQuant data points to stable whale activity and emerging accumulation by larger capital pools, indicating that selling pressure may be gradually easing beneath the surface. This divergence between price action and accumulation trends is often worth monitoring closely.

The $64,000 level is now the key area to watch. Holding this zone could open the path toward a recovery back to the $69,000 region, while a failure to defend it may lead to renewed downside pressure. However, the market's response around this level will be more important than the level itself, as it will offer insight into the strength of underlying demand.

For investors, the current environment reinforces the importance of looking beyond short-term volatility. Markets often experience periods where sentiment weakens before underlying demand becomes visible in price. The coming sessions will be crucial in determining whether this phase develops into a stronger accumulation period or extends the market's consolidation cycle." 

The Thesis

Brent's collapse to $78 on US-Iran ceasefire optimism is the single most important macro print for India today - it lifts the domestic-capex and commodity-input beneficiaries while IT reels under Fed hawkishness. DIIs absorbed FII outflows (Rs 3,130 cr in vs Rs 855 cr out), keeping the Nifty 500 above its 100-DEMA as VIX collapsed to 12.67. The tilt is hard into defense, T&D capex, cement and steel - sectors that compound when crude is benign and rates can drift lower.

Where We're Concentrated

The basket sits in domestic infrastructure capex - defense order books, transmission build-out, cement - alongside commodity-input beneficiaries in steel that gain from cheaper energy and freight. Healthcare premiumization is the consumption hedge: rate-insensitive and DII-favoured. The thesis breaks if the Iran MOU unravels and crude snaps back through $90, or if a Fed surprise drives the dollar high enough for FII selling to overwhelm the Rs 3,130 cr DII bid.

Conviction Picks

Highest Conviction

Bharat Electronics

Defense order book momentum runs independent of Iran de-escalation; PSU capex visibility insulates from Fed-driven rate noise.

Power Grid Corporation

T&D capex compounder with defensive yield; falling crude eases input costs across the transmission build-out cycle.

JSW Steel

Crude at $78 cuts energy and freight costs while DII flows rotate into domestic cyclicals over export-weighted IT.

Shree Cement

Cement leverages the infrastructure capex push; lower fuel costs widen margins as the housing and roads pipeline accelerates.

Apollo Hospitals

Healthcare premiumization stays inelastic to Fed noise; domestic consumption resilience is what DII flows are buying.

One Thing to Watch

Brent at $78. Hold here and the domestic-capex rotation runs further; a snap back to $90 on Iran-deal slippage reverses the IT-versus-cyclicals trade and re-prices the entire basket.

The sharp decline highlights a growing concern on Dalal Street: if Accenture is seeing weak demand, Indian IT companies could face similar challenges. Read Our Full Report Here

Divya Kumar Gulati, Chairman, CLFMA of India

"The emerging monsoon shortfall is a growing concern for the agriculture and livestock ecosystem. With India reportedly facing a rainfall deficit of nearly 35% during the current monsoon phase, Maharashtra recording rainfall nearly 75% below normal, Goa witnessing a deficit of around 59%, and Gujarat continuing to experience delayed monsoon progression and subdued rainfall activity, the risk of disruptions to crop sowing and agricultural productivity cannot be overlooked.

Rainfall patterns play a critical role in determining the availability of maize, soybean and fodder resources that support the livestock and aquaculture sectors. Prolonged deficits or uneven distribution of rainfall can create supply-side pressures, increase feed costs and impact productivity across dairy, poultry, fisheries and shrimp farming value chains. The impact extends beyond farm output, as constrained availability of feed raw materials can increase production costs across the food chain, affecting both farmer profitability and food security.

At a time when the sector is focused on enhancing efficiency and resilience, it is important to strengthen preparedness through better feed resource management, water conservation measures and climate-smart agricultural practices. Building resilience across the agriculture, livestock and aquaculture ecosystem will be crucial to safeguarding farmer incomes, supporting seafood production and ensuring stable food supplies in the months ahead."

Mphasis, Persistent Systems, and KPIT Technologies were the top losers in the Nifty MidCap 100.

IT index lost 5.1% with all 10 constituents declining. TCS, Infosys, HCLTech, and Wipro lost ​between 3.3% ​and ⁠6%.

Shares of Indian IT companies, ​including ​Tata ⁠Consultancy Services, opens new tab, Infosys, opens new tab, ​and HCL ​Technologies, opens new tab ⁠fell between 5% and 7%.

Rajesh Palviya, Head of Research, Axis Direct

The Nifty 50 extended its winning streak to a fifth consecutive session, ending 82 points higher at 24,168, as strength in financials, pharma and realty stocks outweighed persistent weakness in the IT pack. Optimism surrounding the NSE's draft IPO filing supported financial stocks, while softer crude oil prices continued to improve sentiment towards rate-sensitive sectors. However, IT remained under pressure amid the US Federal Reserve's hawkish policy stance.

Global cues are broadly supportive. US markets staged a strong rebound overnight, led by technology stocks, with the Nasdaq gaining nearly 2% and the S&P 500 advancing over 1%. Asian markets are also trading with a positive bias, while Brent crude has eased towards $78 per barrel following the US-Iran agreement that reopened the Strait of Hormuz, providing relief for India's inflation and current account outlook. However, GIFT Nifty is indicating a mildly weaker start, suggesting some profit booking after the recent rally.

From a technical perspective, the broader trend remains constructive as long as the Nifty sustains above the crucial 24,000 mark. This level is expected to act as an immediate support, while 24,250-24,400 remains the key resistance zone. A decisive breakout above 24,400 could trigger fresh momentum and short covering, paving the way for higher levels. On the downside, any sustained breach below 24,050 may lead to profit booking towards 23,950, with the next support placed around 23,850. Overall, the strategy remains to buy on dips while the index holds above 24,000, as the medium-term bullish structure continues to remain intact. 23,800. Overall, the strategy remains to buy on dips while the index holds above 24,000, as the medium-term bullish structure continues to remain intact.

The total valuation of all BSE Sensex companies fell to Rs 4,75,65,708 from Rs 4,77,60,908.

Abhishek Bhilwaria, Partner, BhilwariaFinserv

The sudden drop in Accenture's bookings highlights a deeper problem for Indian tech companies as global clients pull back on traditional tech spending. Industry experts warn that this shift could lead to prolonged sluggishness for major software exporters. As one market analyst noted, "Accenture's lowered guidance is a stark wake-up call for Indian IT, proving that the slowdown in discretionary tech spending is far from over and will heavily weigh on near-term revenues." This reality means domestic giants like Infosys and Wipro must now quickly adapt to smaller, AI-driven projects to protect their margins.

Hitesh Sawhney, Partner Price Waterhouse & Co LLP

The direct tax collection numbers as of June 17, 2026, reflect an encouraging start to the fiscal year with gross collections rising 12.46% and net collections growing 14.64% YoY. While net corporate tax has registered an optically strong performance at 22.44% growth, part of this reflects the continued restrained pace of refund disbursals, a trend that was visible in the previous year as well. Adjusted for this, the underlying gross corporate tax movement remains steady, pointing to corporate resilience and improved first-quarter advance tax compliance, which rose 16.01% for corporate tax collections and 15.30% overall.

The sharp surge in STT collections of 44.90% appears to be aided by the upward revision in STT rates across various Futures and Options trades effective 1 April 2026.

Taken together, these indicators suggest that FY27 has commenced on a firm and promising footing, supported by steady corporate performance and improving compliance trends.

Sudeep Bhatt, Director Strategy, Whiteland Corporation 

"The U.S.-Iran MoU will eliminate months of hostility, regional instability, and economic disruptions. Looking into the real estate market, it will result in better project execution and buyer demand. There will be substantial relief in the segment, ensuring unimpeded commerce. The MoU will ease supply chains and freight costs, ensuring better project viability across residential and commercial segments. There will be an ease in prices for construction costs of essentials like steel, aluminium, copper, as well as electrical equipment. The project timeline will improve due to uninterrupted resources, disruption earlier caused by prolonged geopolitical crises."

"Bitcoin stands at $62k, down by over 2.5% in the last 24 hours. Prediction market participants have increased the probability of Bitcoin reaching $84,000 to 37%, suggesting investors remain optimistic if inflation pressures begin to ease.

Gold and silver are currently moving through a consolidation phase, reflecting the broader uncertainty across global markets. Gold continues to hold above the important ₹148,000 support level, while silver is attempting to build momentum toward the ₹270,000 mark. These levels are being closely watched by investors as inflation expectations, interest rate outlooks, and geopolitical developments continue to shape market sentiment.

According to Token Terminal, Ethereum is sending an interesting signal to the market. The blockchain recorded all-time highs in users, transactions, and throughput, while the number of ETH holder addresses grew by more than 8% in Q1 of this year. Although metrics such as total value locked, trading volumes, and fees saw some contraction, user adoption continued to increase."

Akshat Siddhant, Lead quant analyst, Mudrex

Bitcoin is consolidating around the $63,000 level as the markets digest the delay in the final peace deal and the hawkish comments by the Fed. While the memorandum of understanding between the U.S. and Iran initially supported market sentiment, delays in finalising the formal peace agreement and concerns over potential escalations involving Israel have prompted a cautious response from investors. The move also triggered a $330 million liquidation of long positions, amplifying the downward pressure. As a result, Bitcoin's support has moved back to the $60,000 zone, while $64,500 acts as the immediate resistance zone.

BTC pulled back below $63K, with the primary catalyst being the Fed's hawkish shift. The Fed held rates steady, but its updated projections pointed to fewer rate cuts ahead, a more cautious stance than investors had expected. Meanwhile, a series of major upcoming listings like Anthropic and OpenAI could pull a portion of investor liquidity away from crypto. With fresh capital entering BTC at a measured pace for now, that has added some near-term competition. BTC is likely to consolidate between $62.5K and $63.5K before its next directional move.

Piyush Walke, Derivatives Research Analyst, Delta Exchange

Bitcoin's near-term technical picture remains mixed as the strengthening US Dollar Index (DXY) could act as a headwind for risk assets. The US Dollar Index (DXY) has climbed to 100.80, extending its recent gains and approaching a breakout from a 13-month trading range. Since Bitcoin and the DXY typically move in opposite directions, a stronger dollar could increase pressure on Bitcoin and strengthen the case for crypto bears. ETF flows remain uneven, with BTC and ETH spot ETFs seeing outflows on June 18, showing institutional demand has not returned.

The $60,800-$61,500 area has become the primary support zone currently being tested. Resistance now sits at $67,000-$68,000, while the key zone for restoring bullish momentum remains $72,000-$73,500. Bitcoin also faced rejection from its 200-day Moving Average, a key technical resistance level, signaling weakening bullish momentum and increasing the risk of further downside in the near term.

Ethereum is showing a similar technical setup, with price action remaining below key moving averages. A decisive breakout above $1,760 would improve short-term momentum and signal renewed buying interest, while $1,600 remains the critical support level to watch on the downside.

At the close on Thursday, the total market cap of all BSE Sensex companies stood at Rs 4,77,60,908.