Good morning! Here’s a pre-market report for the Indian market today, Tuesday, June 10, 2025:
1. Market Outlook & Global Cues:
Indian equity markets are likely to open on a positive note, extending the strong momentum from the previous session. This positive sentiment is primarily driven by:
- Positive Asian Market Cues: Most Asian markets are trading higher this morning, buoyed by optimism surrounding the ongoing US-China trade talks in London, which are entering their second day. Japan’s Nikkei is up, as are South Korea’s Kospi and Australia’s ASX200.
- Supportive Global Sentiment: While US markets had a mixed close on Monday (S&P 500 and Nasdaq up marginally, Dow flat), the overall sentiment from the trade talks seems to be leaning positive, which is a key driver for global risk appetite.
- Continued Impact of RBI Policy: The market is still absorbing the implications of Friday’s larger-than-expected 50 bps repo rate cut and 100 bps CRR reduction by the RBI. This significant liquidity boost is expected to underpin financial and credit growth.
- Strong FII & DII Inflows: Foreign Institutional Investors (FIIs) were net buyers of shares worth ₹1,992.87 crore, and Domestic Institutional Investors (DIIs) bought shares worth ₹3,503.79 crore on Monday, indicating strong institutional confidence.
2. GIFT Nifty:
- GIFT Nifty futures are trading higher, currently around 25,243, indicating a positive gap-up open for the Indian bourses, with a premium of around 61 points from Nifty futures’ previous close.
3. Support and Resistance Levels (as of June 10, 2025):
- Nifty 50:
- Resistance: Immediate hurdles are seen at 25,160, 25,209, 25,250, and 25,320. A sustained move above 25,200-25,230 could open the next upside towards 25,600.
- Support: Key support levels are at 25,083, 25,030, 24,980, and 24,900. The 25,000 mark remains a crucial psychological support.
- Sensex:
- Resistance: Immediate resistance is around 82,727, 82,800, 82,959, and 83,000-83,278. A decisive break above 82,500-82,700 could signal further upside.
- Support: Key support levels are at 82,365, 82,000, 81,900, and 81,613.
- Bank Nifty:
- Resistance: Immediate resistance is at 57,049, 57,120, 57,200, 57,300, 57,423, and 57,700-57,784. A decisive close above 57,200 could unlock potential towards 57,500-57,750.
- Support: Key support levels are at 56,792, 56,629, 56,256, and 56,100-56,200. The 55,900 level is also an important immediate support.
4. News and Updates:
- US-China Trade Talks: The second day of critical trade discussions in London between US and Chinese delegations will be closely watched. Positive outcomes could further boost global market sentiment.
- FIIs and DIIs: Both FIIs and DIIs were net buyers on Monday, signaling continued confidence in the Indian market.
- Suzlon Energy: Promoters of Suzlon Energy reportedly sold 19.81 crore shares worth ₹1,309 crore via a block deal yesterday, which could lead to some volatility in the stock.
- MCX: Shares of MCX saw significant gains yesterday after SEBI approved the launch of electricity derivatives contracts, touching an all-time high.
- Gold Loan Stocks Rally: Gold loan companies like Five-Star Business Finance and IIFL Finance rallied on Monday after the RBI finalized enhanced Loan-to-Value (LTV) guidelines for gold loans.
- IPO Market: Jainik Power and Cables IPO (SME) opens for subscription today, while Sacheerome IPO (SME) enters its second day.
- Corporate News (Stocks to Watch):
- Premier Energies: Expected to be in focus.
- TIL, Eternal: Also on the watch list.
- ITD Cementation: News related to orders could impact the stock.
- Tata Power: Expanded solar capacity, indicating growth plans.
- Zee Entertainment: Recent corporate developments could keep it in focus.
- IRB Infra: Toll revenue increased in May.
- Gargi by P. N. Gadgil & Sons: Launched on Blinkit in Mumbai for quick delivery of jewelry, showing expansion.
- Economic Data: While no major Indian economic data is scheduled for today, investors will look ahead to India’s CPI inflation data (expected on June 12) and the US Inflation Rate YoY for May (expected on June 11) later this week, as these could influence future central bank actions.
In summary: The Indian market is poised for a positive open, driven by strong institutional buying, a positive global backdrop, and the continued positive ripple effects of the RBI’s recent policy easing. However, traders should remain vigilant to global trade talk developments and upcoming macroeconomic data releases which could influence market direction through the week.