Pre Market Setup (June 12): GIFT Nifty futures down 30 pts; markets likely to open in red amid global weakness, FII selling

Indian markets are likely to open on a soft note on Thursday, tracking weak global cues and continued foreign investor outflows. GIFT Nifty futures traded lower by 32.50 points or 0.13 per cent at 25,169.50 as of early morning trade, signaling a mildly negative start for domestic equities.

Tech view: Buy-on-dips strategy intact

Despite a weak start, analysts continue to advocate a buy-on-dips strategy. The Nifty 50 is likely to find immediate support at 24,850, and as long as this level holds, the trend remains positive. Resistance is seen at 25,350, and a decisive break above this could trigger fresh upside.

India VIX slips, market sentiment stable

The India VIX, a key indicator of market volatility and investor sentiment, declined 2.5 per cent to settle at 13.67, reflecting reduced fear among market participants and a stable undertone ahead of key global events.

Global cues mixed: Trade tensions return to focus

On Wall Street, the S&P 500 fell 0.27 per cent, the Nasdaq declined 0.50 per cent, and the Dow Jones ended flat as tensions in the Middle East unnerved investors. US inflation data, however, was softer than expected, raising hopes of a rate cut by the Fed.

In Asia, markets opened on a mixed note. Hang Seng futures fell 0.4 per cent, Japan’s Topix was flat, and Australia’s ASX 200 showed little movement. Euro Stoxx 50 futures dipped 0.5 per cent.

Oil, gold rise on geopolitical risk

Gold prices rose, supported by escalating geopolitical tensions and weak inflation data. Similarly, crude oil prices climbed to their highest level in over two months amid concerns over potential supply disruptions due to the US troop movements in the Middle East.

Dollar under pressure, rupee gains

The US dollar slid as rate cut expectations rose and concerns over Trump’s tariff stance intensified. The Indian rupee appreciated by 4 paise to 85.53 against the greenback, aided by broad dollar weakness and improved risk appetite.

FII/DII flow: DIIs support market

Foreign Institutional Investors (FIIs) net sold equities worth Rs 446 crore on Wednesday, while Domestic Institutional Investors (DIIs) provided some support, buying Rs 1,585 crore worth of shares. In the futures segment, FII net shorts reduced to Rs 86,594 crore, down from Rs 93,024 crore a day earlier.

Stocks in F&O ban

The following stocks are under the F&O ban for June 12:

• IREDA

• CDSL

• ABFRL

• Chambal Fertilisers

• Hindustan Copper

• RBL Bank

• Titagarh

• IEX

These stocks crossed 95 per cent of the market-wide position limit, restricting fresh positions in the derivatives segment.