Indian equity benchmarks are expected to open higher on June 25, supported by firm global cues, gains in Gift Nifty, and improving investor sentiment across international markets. Nifty 50 and the Sensex are likely to begin the trading session on a positive note amid indications of renewed investor interest in equities following recent market volatility.
Asian markets traded with a mixed but broadly positive trend. Japan's Nikkei recorded notable gains, while some other Asian markets witnessed limited weakness. Despite the mixed regional performance, global investor risk appetite has shown signs of improvement.
Indications of easing geopolitical tensions in the Middle East have also strengthened market sentiment. Concerns over crude oil supply have moderated, resulting in reduced pressure on international oil prices. Softer crude oil prices are generally considered favourable for import-dependent economies such as India, as they may help ease pressure on inflation and the current account deficit.
According to technical analysts, Nifty 50 staged a b recovery from recent lows. Buying interest in information technology, banking, and real estate stocks helped the index move back above the 24,000 level.
Analysts said the 24,100-24,200 range could act as a key resistance zone for Nifty. If the index sustains above this level, it could advance towards 24,500. On the downside, the 23,800-23,750 range is considered the nearest support zone.
For Bank Nifty, the 58,500 level is regarded as significant in the near term. If buying momentum continues, the index could move towards the 58,800-59,000 range, while the 57,500-57,400 zone is expected to provide b support.
Bharti Airtel received a ratings upgrade from S&P Global Ratings. The agency raised the company's long-term issuer credit rating to BBB+ from BBB. The rating on the company's senior unsecured debt was also upgraded to BBB+. The upgrade reflects an improvement in the company's financial position and operating performance.
Jubilant Pharmova said its subsidiary, Jubilant Generics, has received a revised tax order for the financial year 2023-24. Following the order, the company's total tax adjustment has been reduced to approximately ₹42.41 crore from around ₹107.89 crore.
HCLTech announced the expansion of its strategic partnership with Nokia. The companies will jointly develop artificial intelligence (AI)-based network automation and Network Automation RAN applications (rApps) to support the adoption of autonomous network technologies. Four new rApps will also be made available through Nokia's SMO Marketplace to improve network operations efficiency.
Analysts said easing market volatility, softer crude oil prices, and improved global cues could support the Indian equity market in the near term. However, investors should continue to monitor global economic data, central bank policies, and geopolitical developments.
