27/06/2026
SENSEX +1.44% for June. The month's most boring number β and its most misleading. βοΈ
Under a flat tape, the market split in two:
π IT dragged the most. Accenture's ~$400M Middle-East warning cued a sector selloff β Infosys β7.9% in a single session (19 Jun). IT's weight in the Nifty is now below 7.6%, a record low since 2002 (it was a fifth of the index at its peak).
π Autos lifted the most. Brent fell ~37% from its May peak to ~$73 β trimming fuel and input costs at once. On expiry day Maruti, M&M, Tata Motors, Ashok Leyland, Eicher, TVS and Hero rose 2β3%. SIAM May: 2-wheelers +14.8%, scooters +27.4%.
The two nearly cancelled β +1.44%.
But the part most feeds skip:
The other side (autos): part of that sales jump rides a weak 2025 base β not pure fresh demand. To truly outperform, autos need festive-season demand and an RBI rate cut, not cheaper crude alone.
Our read (IT): don't call the bottom on price. IT is washed out and under-owned, but Accenture's caution is fundamental and AI disruption looks structural. The real tell is guidance β TCS reports 9 Jul, Infosys 23 Jul. That's what separates a washout from a value trap.
Expiry itself: Sensex was up ~500 intraday, then pinned ~100 pts above max pain (77,000) into a long weekend; VIX β2.5%. A low-conviction close.
A recovery, not a breakout.
π² IG .trade Β· TG t.me/kuberTrade_official Β· YT
Educational. Not investment advice. Derivatives carry risk.