Stock Market Update: Sensex and Nifty Experience a Dip After Five-Day Surge

In a surprising turn, the stock market's benchmark indices, Sensex and Nifty, experienced a decline after a five-day rally. The drop was largely influenced by significant sell-offs in IT firms following Accenture's cautious revenue forecast and rising geopolitical uncertainties. While some stocks faced losses, others like Bharti Airtel and NTPC showed resilience. Additionally, Jio Platforms is set to file for an IPO, marking a significant move in the telecommunications sector. Read on for a detailed analysis of the market trends and corporate developments.

By Narendra Chaudhary Jun 19, 2026, 16:41 IST

Market Overview

Mumbai: On Friday, the stock market's benchmark indices faced a decline after a five-day upward trend, with the Sensex falling by 607 points and the Nifty dropping to 24,013.10. This downturn was primarily driven by significant sell-offs in IT companies following a revenue growth forecast cut by global tech leader Accenture, alongside rising geopolitical tensions.

The BSE Sensex decreased by 607.08 points, or 0.78%, closing at 76,802.90. At one point during the trading session, it plummeted by 940.26 points, or 1.21%, reaching 76,469.72.

The NSE Nifty also saw a decline, falling by 154.90 points, or 0.64%, to finish at 24,013.10.

Over the previous five trading days, the Sensex had surged by 3,577.43 points, or 4.84%, while the Nifty had risen by 1,006.4 points, or 4.34%.

Among the 30 companies listed on the Sensex, notable declines were seen in Infosys, which dropped 6.69%, Tata Consultancy Services fell by 3.53%, HCL Tech decreased by 2.74%, and Tech Mahindra ended 2.45% lower. Other companies like HDFC Bank, Mahindra & Mahindra, Reliance Industries, and Hindustan Unilever also faced losses.

Conversely, stocks such as Eternal, Bharti Airtel, Power Grid, and NTPC performed well.

The BSE IT index experienced a significant drop of 3.57%.

In international news, US Vice President J D Vance has postponed his trip to Switzerland for discussions with Iranian negotiators, citing logistical challenges.

These discussions were intended to address the technical details of the Memorandum of Understanding (MoU) established between the US and Iran, which was set to occur in Switzerland on Friday.

Ponmudi R, CEO of Enrich Money, an online trading and wealth management firm, commented, "Indian equity markets pulled back after five consecutive days of gains, as investors took profits amid renewed geopolitical concerns and substantial selling in IT stocks. The market sentiment was further dampened by Accenture's cautious earnings forecast and the delay in US-Iran negotiations, which raised doubts about the peace process's progress."

In corporate news, Jio Platforms Ltd, the digital and telecommunications subsidiary of Reliance Industries, has received board approval to file draft documents for an initial public offering (IPO) that includes a fresh issue of up to 27 crore equity shares.

During the 49th annual shareholder meeting of Reliance, chairman Mukesh Ambani announced that the draft red herring prospectus (DRHP) would be submitted to the Securities and Exchange Board of India (SEBI) on Friday.

Brent crude oil, the global benchmark, saw a slight decrease of 0.58%, trading at USD 79.39 per barrel.

In Asian markets, South Korea's Kospi closed slightly lower, while Japan's Nikkei 225 index finished higher. Equity markets in Shanghai and Hong Kong were closed for holidays.

European markets were mostly in the green, and US markets had a positive close on Thursday.

Meanwhile, Foreign Institutional Investors (FIIs) sold equities worth Rs 1,025.20 crore on Thursday, according to exchange data.

On Thursday, benchmark equity indices had ended positively, marking the fifth consecutive day of gains, with the Sensex rising by 254.36 points, or 0.33%, to close at 77,409.98, and the Nifty increasing by 82.30 points, or 0.34%, to finish at 24,168.