Indian equity markets are expected to open on a weaker note on Tuesday after Gift Nifty declined in early trade. Gift Nifty was trading 36 points, or 0.16%, lower at 23,137.50, indicating a negative start for domestic benchmarks.
According to market experts, rising geopolitical tensions and higher crude oil prices may continue to weigh on Indian benchmark indices and sustain selling pressure in the market.
Analysts, however, said Nifty has approached the important support zone of 23,000–23,200 following the recent decline. If the index manages to hold above 23,125, it could witness a recovery and move towards the 23,250–23,300 range.
Technical analysts said Nifty is currently near a key support zone. Immediate support is placed at 23,000–23,200, while the primary resistance zone is at 23,250–23,300.
If Nifty sustains above 23,125, the market could see a recovery and advance towards 23,250–23,300. Conversely, if the index slips below 23,070, the current technical setup may weaken further, increasing the risk of a decline below the 23,000 level.
Global cues are expected to play a significant role in market direction during the session. Rising crude oil prices remain a concern for import-dependent economies such as India. International tensions are also affecting investor sentiment, which may keep equity market volatility elevated.
Several corporate developments are likely to remain in focus during trading.
NLC India: The government will sell around a 3% stake in the company through an Offer for Sale (OFS). The floor price has been fixed at ₹303 per share. The OFS will open separately for non-retail and retail investors.
IRB Infrastructure Developers: The company’s toll revenue increased 25% year-on-year to ₹843 crore in May from ₹672 crore a year earlier.
Panacea Biotec: The company has launched the DENSTAR project aimed at expanding the reach of its dengue vaccine, DengiAll, across Sub-Saharan Africa and global markets.
Grasim Industries: The company has announced an investment of ₹3,094 crore to expand its lyocell capacity at Harihar in Karnataka.
HCL Technologies: The company has launched an AI Innovation Zone in collaboration with Google Cloud to support advanced AI application development.
Rail Vikas Nigam (RVNL): The company has received an EPC order worth ₹221.33 crore from South East Central Railway.
JNK India: The company has secured an order worth ₹100–300 crore for a waste gas handling system from a UAE-based company.
JSW Energy: The company has commenced operations at its wind blade manufacturing plant in Halol, Gujarat, aimed at strengthening the renewable energy supply chain.
Bharti Airtel and Vodafone Idea: The Bombay High Court has set aside the one-time spectrum charge imposed by the central government, a development affecting the telecommunications sector.
Motilal Oswal Financial Services: HDFC Life has acquired 1.82 million shares in the company for ₹153.3 crore, representing a 0.3% stake.
Market direction during the session is expected to be influenced by global cues, crude oil prices and key technical levels for Nifty. Despite the indicated weak opening, analysts said an intraday recovery remains possible if the index holds above its key support zone.
