Shares of the company remained locked in the lower circuit at Rs 588.30 apiece on NSE in the morning trading hours of Monday.

AI rally slams the brakes

South Korea’s Kospi plunged 9% on Monday morning, leading to a 20-minute trading halt, as the massive selloff in tech stocks raged on. The index is now down about 14% from the record high it touched last week. The sharp downturn came after heavyweights and semiconductor stocks tumbled, including Samsung shares which crashed over 6%.

The sharp plunge in Kospi reflects the sharp pause in the AI rally, as too much of the benchmark index’s earlier momentum had become tied to the performance of a small group of AI-linked stocks. Samsung Electronics and SK Hynix together account for nearly half of the KOSPI’s weighting and have contributed roughly two-thirds of the benchmark’s gains this year.

Also read: Kospi crashes 9%, trading halted for 20 minutes, as chip rout deepens; Samsung, SK Hynix worst hitSterlite Technologies shares had emerged as one of the biggest multibaggers of 2026, riding on explosive demand for AI-linked data centre infrastructure. Sterlite, the optical-fiber maker owned by the Vedanta Group, was seen as the “poster child” for the AI boom. This came amid expectations that the world’s AI expansion needs massive amounts of high-speed connectivity infrastructure, and optical fibre is becoming the backbone of that ecosystem.

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The company late in May announced that its subsidiary has secured a multi-year supply agreement valued at $1.11 billion from a global hyperscaler for AI-ready data centre infrastructure projects in the US. Hong Kong-based CLSA had said that this significantly strengthens Sterlite’s positioning in AI data centres while improving medium-term growth visibility. It expected the order to reinforce Sterlite’s competitiveness in global markets, while maintaining an “Outperform” rating on the stock.
However, the sharp crash in tech stocks led to rising worries that the AI rally was fizzling out, which may have led to the downtrend in Sterlite Tech shares today.

Also read: Hidden AI Winners

Sterlite Tech share price

Sterlite Tech shares have gained 5% in one week and 56% in one month. The stock delivered a whopping 676% return over one year, 282% over three years and 119% in five years.The company currently has a market capitalisation of nearly Rs 28,719 crore.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

SYDNEY — Wesfarmers Ltd. shares rose modestly on Friday, closing at A$78.93 after advancing 0.32 or 0.41%, as solid performance in its core retail businesses helped the diversified group outperform a softer broader market.

The gain came as the S&P/ASX 200 index closed lower, highlighting Wesfarmers’ relative resilience. The company, which operates leading Australian retail brands including Bunnings, Kmart and Officeworks alongside industrial and chemical operations, continues to benefit from steady consumer demand and operational improvements in 2026.

Wesfarmers has reported consistent results this year, with its home improvement and department store divisions showing particular strength. Bunnings has maintained robust sales supported by ongoing housing activity, renovations and trade customer demand. Kmart and Officeworks have delivered value-focused offerings that resonate with cost-conscious shoppers amid economic pressures.

The group’s diversified structure provides balance across retail, chemicals, energy and fertiliser businesses. This mix has historically helped Wesfarmers navigate economic cycles better than more concentrated peers. Recent updates have emphasized cost discipline, digital investment and sustainability initiatives across its portfolio.

Analysts generally maintain positive outlooks on Wesfarmers. The stock is frequently cited for its strong brand portfolio, reliable earnings and consistent dividend growth. Its market leadership positions in key retail categories and prudent capital allocation support a premium valuation justified by quality and execution track record.

For income investors, Wesfarmers offers an attractive and growing dividend yield backed by strong cash flow generation. The company has a long history of increasing payouts, making it a core holding for many Australian equity income portfolios.

The current share price movement reflects continued investor confidence in Wesfarmers’ defensive qualities and growth potential. Trading volume was in line with recent averages, indicating steady rather than speculative interest.

Broader Australian market context shows mixed performance, with resources facing pressure while consumer and industrial names like Wesfarmers found buyers. The company’s exposure to everyday consumer needs provides insulation from commodity volatility affecting other large-cap stocks.

Looking ahead, Wesfarmers’ upcoming half-year results will be closely watched for updates on retail trading conditions, industrial performance and capital management strategy. The company continues expanding its store network, enhancing digital capabilities and advancing sustainability targets.

Global consumer trends and domestic economic indicators will influence near-term performance. Wesfarmers’ value-oriented retail offerings position it well to benefit from cautious consumer spending patterns. Its industrial businesses provide additional exposure to commodity and agricultural cycles.

Analysts project continued earnings stability for Wesfarmers, supported by operational excellence and strategic investments. While near-term economic uncertainty exists, the group’s diversified model and strong balance sheet provide a solid foundation for navigating challenges.

For long-term investors, Wesfarmers represents a high-quality Australian blue chip with defensive characteristics and growth potential. Those with longer horizons may view current levels as attractive for accumulation, particularly given the reliable dividend stream. Shorter-term participants might monitor upcoming earnings and economic data for direction.

The modest gain on Friday fits within normal daily fluctuations for a company of Wesfarmers’ size. It reflects steady support for a business with proven resilience and clear strategic direction rather than a major catalyst.

As one of Australia’s largest listed companies, Wesfarmers plays a significant role in the economy through employment, retail presence and industrial operations. Its performance influences broader market sentiment and reflects conditions in consumer spending and industrial activity.

Wesfarmers continues focusing on operational excellence, customer experience and sustainable practices. Its ability to adapt to changing retail landscapes while maintaining strong returns has been a hallmark of its long-term success.

Investors evaluating Wesfarmers should consider individual risk tolerance, portfolio allocation and investment horizon. The company offers stability, income and moderate growth potential that can complement other holdings in diversified portfolios. Prudent monitoring of key metrics such as same-store sales, margins and capital returns remains advisable.

Overall, Wesfarmers maintains a position of strength in the Australian corporate landscape. Its diversified operations, iconic retail brands and disciplined management position it favorably to navigate current economic conditions while pursuing longer-term opportunities in retail, industrial and emerging sectors.

NEW YORK — Crude oil prices jumped sharply on Monday, with West Texas Intermediate futures rising more than 4% to settle at $94.39 a barrel, the highest level in several months, as escalating geopolitical concerns and supply disruption fears fueled a broad energy rally.

The gain of $3.85, or 4.25%, marked one of the largest single-day percentage increases this year and reflected renewed anxiety over potential supply shortfalls amid ongoing conflicts in key producing regions. Brent crude, the international benchmark, also climbed significantly, trading above $96 per barrel in late dealings.

Analysts attributed the surge to a combination of factors, including heightened tensions in the Middle East, signs of tighter global inventories and expectations of sustained demand from major economies. The move caught some traders off guard after a period of relatively stable pricing, highlighting the market’s sensitivity to headline risks.

The rally extended gains across the energy complex, with gasoline and heating oil futures also posting strong advances. U.S. equity markets showed mixed reactions, with energy sector stocks rising while broader indices displayed caution amid concerns over the inflationary impact of higher fuel costs.

Market participants pointed to renewed supply risks as a primary driver. Disruptions in key shipping routes and potential escalation in producer regions have raised fears of tighter physical markets in the coming months. At the same time, strong industrial activity in Asia and resilient U.S. consumption have supported the demand side of the equation.

This latest spike comes after several weeks of consolidation, during which prices had traded in a relatively narrow range. The breakout above important technical levels has prompted short covering and fresh bullish positioning by hedge funds and other speculative accounts, amplifying the upward momentum.

Energy analysts noted that while the move appears sharp, it aligns with broader macroeconomic trends. Persistent global economic resilience, particularly in emerging markets, continues to underpin oil demand even as some developed economies show signs of moderation. At the same time, OPEC+ production policies and compliance levels remain closely watched variables.

For consumers, the rise in crude prices is expected to translate into higher gasoline costs at the pump in the coming weeks. U.S. regular gasoline averages have already begun edging higher, and further increases could add pressure to household budgets during the summer driving season.

The energy sector’s performance has broader implications for inflation readings and monetary policy expectations. Higher oil prices feed directly into transportation and manufacturing costs, potentially complicating central banks’ efforts to manage price stability.

Industry executives have emphasized the need for balanced investment in both traditional and renewable energy sources to ensure long-term supply security. Major producers continue to highlight disciplined capital spending while advancing lower-carbon initiatives across their portfolios.

Looking ahead, market attention turns to upcoming inventory data and geopolitical developments. Weekly U.S. crude stockpiles figures from the American Petroleum Institute and the Energy Information Administration will provide fresh insight into domestic supply-demand balances.

Analysts remain divided on the sustainability of the current rally. Some view it as a temporary spike driven by headline risk, while others see structural tightening in the market that could support higher prices through the remainder of 2026. Long-term forecasts continue to emphasize the role of oil in the global energy mix even as the transition to renewables accelerates.

For investors, the energy sector’s recent performance has offered both opportunities and volatility. While higher prices benefit producers, they also raise concerns about demand destruction if economic growth slows in response to elevated costs. Refiners and downstream companies face margin pressures depending on how quickly price changes pass through the supply chain.

The move in oil also influenced currency and bond markets. The U.S. dollar strengthened modestly against several major currencies, while Treasury yields showed limited reaction as investors weighed the inflationary implications.

Broader commodity markets displayed mixed signals, with some industrial metals easing while precious metals found support amid safe-haven flows. Agricultural futures were largely steady, reflecting balanced supply outlooks for key crops.

As trading continues, participants will monitor developments in producer regions and any statements from major consuming nations. Diplomatic efforts to reduce tensions could temper the rally, while any escalation would likely add further upward pressure on prices.

The current environment underscores oil’s enduring role as a critical global commodity. Despite long-term shifts toward cleaner energy sources, near-term supply risks and economic resilience continue to drive significant price movements that affect economies, consumers and financial markets worldwide.

Market veterans caution that sharp moves in either direction can quickly reverse as new information emerges. Position squaring ahead of key data releases often contributes to volatility, making risk management essential for participants across the energy complex.

For now, the surge to $94.39 represents a notable shift in sentiment, reminding traders and policymakers alike of the persistent geopolitical and fundamental risks embedded in global oil markets. The coming days and weeks will determine whether this latest rally has staying power or proves to be another temporary spike in an uncertain trading environment.

This article was written by

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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

NEW YORK — The 2026 NBA Finals shift to Madison Square Garden on Monday night with the New York Knicks holding a 2-0 series lead over the San Antonio Spurs, setting the stage for what could be the most important game of Victor Wembanyama‘s young career as the Spurs fight to avoid a sweep.

After dropping two tightly contested games in San Antonio, the Spurs now face the daunting task of winning on the road against a Knicks team that has been nearly unbeatable in the postseason. A loss in Game 3 would put San Antonio in a historically difficult 3-0 hole, with only a handful of teams ever overcoming such a deficit in the NBA Finals.

Wembanyama, the 22-year-old phenom in his third season, has been the Spurs’ standout performer despite the series deficit. He delivered 29 points, 9 rebounds and 4 blocks in Game 2 but was unable to close out the narrow 105-104 defeat after missing a potential game-winning shot and committing a late turnover. For a player already carrying enormous expectations, Game 3 represents a defining moment — a chance to deliver a signature performance on one of basketball’s biggest stages and keep his team’s championship hopes alive.

The French star has shown remarkable growth since being selected first overall in the 2023 draft. His combination of size, skill and defensive instincts has drawn comparisons to legendary big men, but this Finals series is his first real taste of championship pressure. Spurs coach Gregg Popovich has emphasized the need for Wembanyama to dominate both ends while elevating his teammates in critical moments.

De’Aaron Fox has provided steady scoring and playmaking for San Antonio, while Devin Vassell offers perimeter shooting. However, the supporting cast must step up significantly against New York’s balanced and experienced lineup. The Spurs’ defense, anchored by Wembanyama’s rim protection, has been competitive but has struggled at times to contain Jalen Brunson’s craftiness and Karl-Anthony Towns’ versatility inside.

The Knicks enter Game 3 brimming with confidence and the energy of a raucous Madison Square Garden crowd. Brunson has been exceptional, averaging strong scoring outputs despite inconsistent shooting, while Towns has battled effectively against Wembanyama. Mikal Bridges’ two-way play and the team’s depth have been key factors in their 2-0 advantage. Coach Tom Thibodeau’s squad has shown remarkable resilience, winning close games through elite defense and timely execution.

Key matchups will define the outcome. The battle between Wembanyama and Towns is a fascinating clash of size, skill and styles. Brunson’s ability to create shots against San Antonio’s perimeter defenders remains a persistent threat. Rebounding, transition defense and execution in the final minutes will likely decide the result in what is expected to be another close contest.

Injuries do not appear to be a major factor for either side, though the physical toll of a long playoff run could become more evident as the series progresses. The Spurs, who earned the higher seed and home-court advantage earlier, now face the pressure of forcing the series back to Texas for Game 4 or beyond.

Historical precedent heavily favors the Knicks. Teams taking a 3-0 lead in the NBA Finals have an overwhelming record of winning the series. For the Spurs to extend the series, they will need Wembanyama to produce one of the biggest performances of his young career — combining scoring, rebounding, shot-blocking and leadership in a hostile environment.

Wembanyama has spoken about learning from each game and maintaining focus on the process rather than outcomes. His maturity and basketball IQ have been evident, but the leap from regular season and early playoff rounds to the Finals intensity is significant. A strong showing in Game 3 could boost his confidence and shift momentum, while another loss would place enormous pressure on San Antonio to avoid a sweep.

For the Knicks, a victory would put them on the brink of their first title since 1999 — ironically against these same Spurs. New York fans have waited decades for this moment, and the energy inside Madison Square Garden is expected to be electric. The Knicks’ home dominance throughout the playoffs has been a major factor in their success.

Tactical adjustments are anticipated from both sides. The Spurs may look to deploy more aggressive help defense or switch schemes to disrupt Brunson, while the Knicks will aim to exploit mismatches and maintain the defensive intensity that has defined their postseason run.

The series has captured national attention as a clash between an established Eastern Conference power and a young Western Conference team built around generational talent. Wembanyama’s Finals debut adds significant intrigue, with many viewing this series as a measuring stick for his championship pedigree and long-term legacy.

Game 3 tips off at 8:30 p.m. ET at Madison Square Garden. A Knicks win would push them to the verge of a championship, while a Spurs victory could inject life into the series and set up a compelling Game 4 in New York.

As the NBA Finals reach this critical juncture, the basketball world watches to see if Wembanyama can rise to the occasion and deliver San Antonio its first win or if the Knicks’ momentum proves too strong. The outcome could shape the trajectory of both franchises for years to come, with Wembanyama facing the heaviest burden in what many are calling the biggest game of his life.

NEW YORK — Savannah Guthrie, co-anchor of NBC’s “Today” show, posted a deeply personal message on Instagram Stories over the weekend, expressing ongoing anguish over the disappearance of her 84-year-old mother, Nancy Guthrie, who has been missing since February 1.

The post featured a religious artwork accompanied by the caption “Oh my, my soul / it cries out, soul, it cries out.” Guthrie signed off with the plea “Bring her home” followed by a yellow heart emoji. The message reflects the profound emotional toll the unresolved case continues to take on the family more than four months after Nancy Guthrie vanished from her home in the Catalina Foothills area near Tucson, Arizona.

Nancy Guthrie was last seen on January 31. Blood evidence matching her DNA was discovered on the porch of her residence, along with signs of a possible struggle. Authorities, including the Pima County Sheriff’s Office and the FBI, are investigating the case as a suspected abduction and homicide, though no arrests have been made and her body has not been recovered.

In May, Pima County Sheriff Chris Nanos provided an update on the investigation’s progress. “I think every day they get closer,” he said of his department’s work. “There’s way too much work to be done, that is ongoing, with some of the physical evidence we have.”

Savannah Guthrie has remained relatively private about the family’s pain while occasionally sharing public appeals for information. In a statement for the KVOA News 4 TV special “Bring Her Home: The Disappearance of Nancy Guthrie,” she expressed gratitude for community support. “We are deeply grateful for the outpouring from neighbors, friends and the people of Tucson. We are all family now. We continue to believe it is Tucsonans, and the greater southern Arizona community, that hold the key to finding resolution in this case.”

The Instagram post marks one of the more visible emotional expressions from Savannah Guthrie since her mother’s disappearance. Colleagues at NBC have offered support, with “Today” show anchors occasionally referencing the family’s ordeal during broadcasts while respecting their desire for privacy during the investigation.

The case has drawn national attention due to Savannah Guthrie’s high-profile role. A $1 million reward remains active for information leading to Nancy Guthrie’s safe return or the arrest and conviction of those responsible. Tips continue to come in, though authorities have cautioned that many require verification amid widespread public interest and online speculation.

Nancy Guthrie was described by family as independent and vibrant despite her age. Her sudden vanishing from what should have been the safety of her own home has shaken the upscale Catalina Foothills community and highlighted vulnerabilities for elderly residents. Multiple searches of the surrounding desert terrain have been conducted, but challenging conditions in the Arizona desert have complicated efforts.

Expert Tad DiBiase, a prosecutor specializing in no-body homicide cases, has publicly commented on the investigation. He noted the importance of thorough searches to both potentially locate remains and strengthen any future prosecution by ruling out alternative scenarios. Water sources and wooded or desert areas have been highlighted as statistically common disposal sites in similar cases, though authorities have not confirmed specific new search plans.

Pima County Sheriff’s officials continue to describe the investigation as active and complex. Laboratory backlogs for DNA and other forensic evidence have contributed to delays, but digital forensics, neighbor interviews and analysis of potential vehicle activity remain key components. A person captured on doorbell camera footage near the time of the disappearance was questioned early in the probe, but no public persons of interest have been named.

The emotional weight on the Guthrie family is evident. Savannah Guthrie has balanced her high-visibility role on “Today” with supporting her family through the uncertainty. Her occasional public messages serve both as pleas for information and expressions of hope that her mother might still be found alive.

Community response has been strong, with locals participating in early searches and vigils. The case has also sparked broader conversations about safety for seniors and the challenges of missing persons investigations when foul play is suspected but no body is recovered.

As weeks turn into months, the prolonged uncertainty compounds the family’s grief. Savannah Guthrie’s Instagram post, though brief, resonated widely, with followers offering messages of support and sharing the post in hopes of generating new leads.

Investigators urge anyone with information, no matter how small, to contact the Pima County Sheriff’s Office or the FBI. Tips can be submitted anonymously in many cases, and the reward provides additional incentive for those with knowledge of the events surrounding February 1.

The high-profile nature of the disappearance has led to extensive media coverage and online discussion. While this has helped raise awareness, authorities caution against unverified theories that could complicate the official investigation. Professional forensic work and verified tips remain the priority.

For the Guthrie family, each day without answers brings new emotional challenges. Savannah Guthrie’s public role adds another layer, as she continues professional duties while privately navigating the pain of her mother’s absence. Her willingness to share glimpses of that pain, as in the recent Instagram post, humanizes the broader statistics of missing persons cases.

Nancy Guthrie’s disappearance serves as a sobering reminder of the vulnerabilities faced by elderly individuals living alone. It has prompted some residents in the Tucson area to review home security measures and neighborhood watch programs.

As the investigation advances, focus remains on processing evidence, pursuing leads and conducting targeted searches. The family’s continued public appeals demonstrate both hope and determination to find resolution.

Savannah Guthrie’s message, though simple, carries profound weight. “Bring her home” remains the central plea for the Guthrie family and the wider community invested in Nancy’s safe return. The yellow heart emoji, often symbolizing hope and positivity, adds a touch of optimism amid the heartbreak.

The coming weeks and months will be critical as forensic analysis continues and new tips are evaluated. For now, the Guthrie family, supported by friends, colleagues and the Tucson community, holds onto hope while facing the daily reality of uncertainty.

Nancy Guthrie’s story, amplified through her daughter’s platform, highlights both the personal toll of such disappearances and the collective responsibility to assist in bringing missing loved ones home.