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Indices trade slightly lower in late morning deals
Jun-18-2026

Domestic equity indices were trading below neutral levels with marginal cuts in late morning deals owing to selling in Infosys, TCS, Tech Mahindra, Eternal, and Kotak Mahindra Bank. Muted cues from the global markets weighed on domestic sentiments. Traders were cautious after the Federal Reserve indicated the possibility of a rate hike this year. However, there were some encouragements in markets as the free trade agreement between India and the UK will formally enter into force on July 15, 2026, after resolving a steel issue. On the BSE sectoral front, traders were seen piling up positions in Healthcare, FMCG, Bankex, Telecom and Consumer Disc, whiles selling was witnessed in IT, TECK, Realty, Energy and Oil & Gas.

On the global front, Asian markets were trading mixed following negative cues from the US markets overnight. Back home, in the stock specific development, HFCL surged as the company received contract worth around Rs 2,666.09 crore from Rail Vikas Nigam (RVNL).   

The BSE Sensex is currently trading at 77019.39, down by 136.23 points or 0.18% after trading in a range of 76953.00 and 77320.32. There were 9 stocks advancing against 21 stocks declining on the index.

The top gaining sectoral indices on the BSE were Healthcare up by 0.48%, FMCG up by 0.38%, Bankex up by 0.33%, Telecom up by 0.15% and Consumer Disc up by 0.07%, while IT down by 1.28%, TECK down by 1.10%, Realty down by 0.47%, Energy down by 0.40% and Oil & Gas down by 0.35% were the top losing indices on BSE. 

The top gainers on the Sensex were Trent up by 2.64%, HDFC Bank up by 1.44%, Bharat Electronics up by 0.93%, Hindustan Unilever up by 0.47% and SBI up by 0.47%. On the flip side, Infosys down by 2.53%, TCS down by 1.71%, Tech Mahindra down by 1.27%, Eternal down by 1.10% and Kotak Mahindra Bank down by 0.96% were the top losers.

Meanwhile, ratings agency ICRA in its latest report has said that domestic tractor wholesale volumes are expected to register a modest growth of 1-4 per cent in the current fiscal year (FY27) as compared to the robust 23.5% growth recorded in FY26. It said the expected slowdown is attributed to the high base effect and the India Meteorological Department's (IMD) forecast of a below-normal monsoon. Despite the expected moderation in volumes, it said tractor manufacturers are likely to maintain healthy profit margins, supported by operating leverage and stable raw material costs.  

According to the report, tractor demand remained strong in May 2026 with the wholesale volumes increasing sharply by 19.3 per cent year-on-year, and retail volumes rising by 13.6 per cent YoY during the month. The growth was driven by a low base effect, steady farm cash flows and improved affordability following the GST rate cut. However, it said volume growth is expected to slow down, as the government has deferred and staggered the implementation for the revised emission norms (led to pre-buying in FY26) for the key 30-50 horse power segment to April 2028 from April 2026.  

ICRA further noted that the IMD's first-stage Long Range Forecast (LRF) for the 2026 southwest monsoon indicates a below-normal rainfall at 90 per cent +/- 4 per cent of the Long Period Average (LPA), driven by likely development of El Nino conditions during monsoon. It added that any deficiency in rainfall could adversely affect agricultural output, and thereby weighing on tractor demand during FY27. 

The CNX Nifty is currently trading at 24054.95, down by 30.75 points or 0.13% after trading in a range of 24036.95 and 24139.65. There were 18 stocks advancing against 32 stocks declining on the index.

The top gainers on Nifty were Max Healthcare up by 5.43%, Trent up by 2.58%, Eicher Motors up by 1.44%, HDFC Bank up by 1.41% and HDFC Life up by 1.14%. On the flip side, Infosys down by 2.35%, TCS down by 1.69%, Tech Mahindra down by 1.27%, Eternal down by 1.04% and Kotak Mahindra Bank down by 0.96% were the top losers.

Asian markets were trading mixed; Nikkei 225 surged 1297.75 points or 1.86% to 71,200.00, Taiwan Weighted added 587.81 points or 1.28% to 46,465.20, KOSPI increased 218.90 points or 2.47% to 9,083.14 and Straits Times rose 14.67 points or 0.28% to 5,191.13. However, Jakarta Composite plunged 65.82 points or 1.07% to 6,154.92, Shanghai Composite weakened 7.78 points or 0.19% to 4,100.30 and Hang Seng declined 477.16 points or 1.96% to 23,835.00. 
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