Indian equity markets are indicating a subdued start to trading on Friday, with GIFT Nifty trading marginally lower at 23,872 on NSE IFSC, signalling a potentially range-bound opening for domestic benchmarks.
Market participants may adopt a cautious approach amid mixed global cues. In the previous trading session, markets ended nearly flat due to weekly and monthly derivatives expiry, contributing to continued uncertainty among investors.
Reports of a potential agreement between the United States and Iran regarding an extension of a 60-day ceasefire supported global market sentiment. US equity markets gained strength, with the S&P 500 and Nasdaq indices closing at record highs.
However, US officials clarified that discussions between the two countries have not concluded entirely, keeping investors cautious regarding geopolitical risks. Volatility in crude oil prices is also continuing and may influence global market direction.
Asian markets traded with a positive bias following gains in US markets. However, market participants expect Indian benchmarks, including Nifty and Sensex, to remain within a limited range. A trend of mild gains or consolidation may emerge rather than a sharp move in either direction.
According to technical analysis, the 23,800 level is expected to act as a key support for Nifty. If this level is breached, the next support may be seen at 23,650. On the upside, the 24,000–24,100 zone is expected to function as a b resistance area.
Market experts expect range-bound trading conditions to persist rather than a trend-following move in benchmark indices. Investors are being advised to monitor these levels before taking large positions.
Among stocks in focus, Swiggy failed to secure the required 75% shareholder support for a proposed amendment to its Articles of Association (AoA). The proposal received 72.36% of votes and was not passed. The amendment was aimed at enabling the company to qualify as an Indian Owned and Controlled Company (IOCC).
Coal India has decided to sell an additional 1% stake through its offer-for-sale (OFS) under the government’s disinvestment programme. The total offer size has increased to 2%, equivalent to approximately 123.2 million shares.
Tata Elxsi has launched ‘AnaTel’, an AI-based platform for the healthcare sector.
Wipro has expanded its partnership with ServiceNow to scale agentic AI workflows aimed at accelerating enterprise digital transformation.
Reliance Industries is scheduled to hold its 49th Annual General Meeting (AGM) on June 19. Expectations related to the company’s future strategy and announcements concerning digital and energy businesses are associated with the meeting.
