The Indian stock market is likely to have a positive start on June 25. Due to strong signals from GIFT Nifty and global markets, both Nifty and Sensex may open with gains.
Business News: The beginning of the trading session of June 25 in the Indian stock market is likely to be positive. Nifty 50 and Sensex are likely to open higher amid strong global cues, rise in GIFT Nifty and improving investor confidence in international markets. Market experts believe that after the recent fluctuations, investors’ inclination is again moving towards the equity market, which may provide support to the major indices.
Global cues support the market
Asian markets witnessed a mixed but overall positive trend. Japan’s key index Nikkei appeared to be trading with notable gains, while some other Asian markets recorded limited weakness. Despite this, the risk appetite of global investors is improving.
Signs of easing geopolitical tensions in the Middle East have also boosted market sentiment. This has reduced concerns regarding the supply of crude oil and reduced pressure on oil prices in the international market. The softening of oil prices is considered positive for import-dependent countries like India as it may reduce pressure on inflation and current account deficit.
Major levels of Nifty and Bank Nifty
According to technical analysts, Nifty 50 has registered a strong comeback from lower levels in the recent session. Buying in IT, banking and real estate stocks helped take the index above 24,000 level again. Experts believe that the range of 24,100 to 24,200 can prove to be an important resistance area for Nifty. If the index maintains strength above this level, there may be a possibility of further rise to the level of 24,500. On the other hand, the area of 23,800 to 23,750 is considered to be the nearest support zone.
For Bank Nifty, the level of 58,500 is considered important in the near term. If the buying trend continues, the index may reach the range of 58,800 to 59,000. Whereas the area of 57,500 to 57,400 can provide strong support.
Investors keep an eye on these major stocks
In today’s trading session, shares of many companies may remain in the news due to important corporate announcements.
- Bharti Airtel: Telecom sector’s leading company Bharti Airtel has got a big relief from the global rating agency S&P Global Ratings. The agency has upgraded the company’s long-term issuer credit rating to BBB+ from BBB. Apart from this, the rating of the company’s senior unsecured debt has also been increased by a similar amount. This upgrade is being considered a sign of improvement in the company’s financial condition and operating performance.
- Jubilant Pharmova: Jubilant Generics, a subsidiary of pharmaceutical company Jubilant Pharmova, has received a revised tax order for the financial year 2023-24. After this order, the total tax adjustment of the company has reduced from approximately Rs 107.89 crore to Rs 42.41 crore. This development is being considered financially positive for the company and may increase investor interest.
- HCLTech: IT services sector leader HCLTech has announced the expansion of its strategic partnership with global telecom equipment manufacturer Nokia. Both companies will work together on development of artificial intelligence (AI) based network automation and network automation RAN applications (rApps). The initiative aims to help drive rapid adoption of autonomous network technologies. Four new rApps will also be made available on Nokia’s SMO Marketplace, which will help make network operations more efficient.
Analysts say reducing volatility, softening crude oil prices and better global cues may support the Indian stock market in the near term. However, investors should continue to monitor global economic data, central banks’ policies and geopolitical developments.
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