Indian benchmark indices, Sensex and Nifty 50, are likely to open on a subdued note on Friday, 19 June, amid mixed signals from global markets.
Asian equities traded in a mixed range, while Wall Street closed higher overnight, led by a sharp rally in technology stocks, pushing the Nasdaq up nearly 2%.
Despite the positive finish in US markets, investor sentiment remains cautious amid lingering global uncertainties.
On Thursday, Indian equities extended their winning streak for a fifth consecutive session, navigating intraday volatility to end higher. The BSE Sensex advanced 254.36 points, or 0.33%, to settle at 77,409.98, while the NSE Nifty 50 gained 82.30 points, or 0.34%, to close at 24,168.00.
US-Iran Peace Deal
The United States lifted its limitations on Iran, permitting oil tankers to transit the Strait of Hormuz once more after several months of interruption, coinciding with the initiation of a preliminary ceasefire agreement. Iran’s Supreme Leader Ayatollah Mojtaba Khamenei stated that he had consented to the Iran–US peace agreement to conclude the conflict in the Middle East, despite having a “different perspective” on the memorandum of understanding.
US Jobless Claims
The number of Americans submitting applications for unemployment benefits decreased last week, although it remained at somewhat elevated levels. Initial applications for state unemployment benefits fell by 4,000 to a seasonally adjusted total of 226,000 for the week that concluded on 13 June. Economists surveyed by Reuters had anticipated 225,000 claims for the most recent week.
Accenture Earnings
Accenture announced a net income of $2.39 billion for the third quarter ending in May, an increase from $2.24 billion during the same period last year. The company’s revenue for Q3 rose to $18.7 billion, up from $17.7 billion year over year. The firm secured new bookings totalling $19.3 billion in the quarter, slightly down from $19.7 billion year over year.
What Gift Nifty live chart signals?
The Gift Nifty Live Chart shows a negative start for the Indian stock market today. By 7:43 AM, the Gift Nifty was trading around the 23,995 level, a discount of 198 points from the Nifty futures’ previous close of 24,192.50.
Ponmudi R, CEO of Enrich Money, a SEBI-registered online trading and wealth-tech firm, said that Indian equity markets are expected to trade with a constructive bias, supported by improving geopolitical developments and easing commodity prices. Investor sentiment has strengthened following the United States announcement of the reopening of the Strait of Hormuz. These developments have reinforced optimism surrounding the broader U.S.-Iran peace process, alleviating concerns over global energy supply disruptions and supporting expectations of greater stability in international commodity markets. However, some degree of profit-booking cannot be ruled out at higher levels, following the market’s strong rally over the past several sessions.
Crude oil prices continue to consolidate in the $74–76 per barrel range, providing a supportive backdrop for the Indian economy. Meanwhile, gold prices are on track for a weekly decline as expectations of a hawkish U.S. Federal Reserve continue to weigh on the precious metal, reducing safe-haven demand.
Foreign Institutional Investors (FIIs) have continued to alternate between buying and selling, reflecting the absence of a clear directional trend in global capital flows. However, the pace of foreign outflows has moderated in recent sessions, offering some relief to domestic equities and helping support broader market sentiment.
Crude Oil Prices
Crude oil prices decreased and were on track for a significant weekly decline as shipping in the Strait of Hormuz started to normalise following the temporary US-Iran peace agreement. The price of Brent crude oil slipped by 0.84% to $79.18 per barrel, while the US West Texas Intermediate (WTI) crude dropped by 0.67% to $76.09.
Gold, silver rates today
Gold prices have declined and are heading for their third straight weekly drop, driven by a rising dollar and assertive signals from the US Federal Reserve. The price of spot gold fell by 0.5% to $4,189.26 per ounce, while US gold futures set for August delivery decreased by 0.9% to $4,207.80. The spot silver price decreased by 0.8% to $65.32 per ounce.
India VIX today
Nilesh Jain, VP- Head of Technical and Derivative research at Centrum Finverse Ltd, said that India VIX declined 3.5% to settle below the 13 mark, and any further easing in volatility is likely to provide additional support to the positive market sentiment.
Stock market today
Speaking on the outlook for the Nifty 50 today, Ajit Mishra, SVP — Research at Religare Broking, said, the Nifty 50 has surpassed another important hurdle—its medium-term moving average, the 100-day EMA, near the 24,150 mark—and now appears poised to inch towards the 24,500–24,600 zone. The ongoing buoyancy in banking majors, coupled with rotational buying across heavyweight stocks, continues to support the prevailing uptrend.
Mishra said that we therefore continue to advocate a stock-specific approach, favouring relative outperformers while maintaining disciplined risk management and selectively booking profits on rallies.
On the outlook for the Bank Nifty today, Ponmudi R, CEO of Enrich Money, believes that the Bank Nifty continues to exhibit relative strength and remains well-positioned above its key support levels, reflecting sustained buying interest in the banking space. From a technical perspective, the 58,000 psychological mark remains the immediate resistance level. A sustained breakout above this zone would reinforce bullish momentum and could pave the way for an extension of the rally towards the 58,300–58,500 region, which represents the next significant upside target. On the downside, 57,800 is expected to act as the immediate support level.
Stocks to buy today
Regarding stocks to buy today, market experts — Sumeet Bagadia of Choice Broking, Ganesh Dongre, Senior Manager — Technical Research at Anand Rathi, and Shiju Koothupalakkal, Senior Manager — Technical Research at Prabhudas Lilladher, recommended these eight buy-or-sell stocks for intraday trading: Max Financial Services Ltd, Lupin Ltd, Jindal Steel Ltd, Bajaj Finserv Ltd, PI Industries Ltd, Meesho Ltd, NLC India Ltd, and Jindal Saw Ltd.
Sumeet Bagadia’s stock recommendations today
Buy Max Financial Services in cash at ₹1,688; SL at ₹1,615; TGT at ₹1,835
Buy Lupin in cash at ₹2,327; SL at ₹2,220; TGT at ₹2,535
Ganesh Dongre’s buy or sell stocks
BUY Jindal Steel at ₹1,132; SL at ₹1,110; TGT at ₹1,370
BUY Bajaj Finserv at ₹1,170; SL at ₹1,145; TGT at ₹1,810
BUY PI Industries at ₹2,846; SL at ₹2,800; TGT at ₹2,910
Shiju Koothupalakkal’s intraday stocks for today
Buy Meesho cmp: ₹170.70 Target: ₹182 Stop loss: ₹166
Buy NLC India cmp: ₹323.75 Target: ₹342 Stop loss: ₹316
Buy Jindal Saw cmp: ₹264 Target: ₹280 Stop loss: ₹258
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
