Indian Stocks Dip: IT Woes, Monsoon Deficit; Regency Fincorp Surges
By Sivam
Indian equities fall amid global cues, IT sector concerns, and monsoon deficit. Regency Fincorp surges after raising ₹15 crore via NCDs. Explore market impact.
Indian equities experienced significant losses today, driven by weak global cues and concerns over the IT sector and monsoon deficit. However, Regency Fincorp bucked the trend, surging after raising ₹15 crore via Non-Convertible Debentures (NCDs).
Market Downturn & IT Sector Woes
The BSE Sensex fell by 814.54 points, or 1.05%, to 76595.44 in early afternoon trade. This decline was largely attributed to weak cues from other Asian markets.
- Heavy selling hit IT and TECK counters.
- Accenture’s reduced annual revenue growth forecast raised significant concerns for Indian IT companies.
Monsoon Concerns Add Pressure
Adding to market anxieties, a substantial nationwide rainfall deficit of 41% was reported between June 4 and June 18, 2026. The stalled southwest monsoon over southern Maharashtra fueled these concerns.
Regency Fincorp Surges
In contrast to the broader market, Regency Fincorp’s shares surged by 1.66% to trade at ₹37.90. This came after its Allotment Committee approved raising ₹15 crore through NCDs on June 19, 2026.