Global Market Cues

Global markets concluded the previous week on a strong note, with major indices recording significant gains. US stocks rallied on Friday, June 27, with the S&P 500 and Nasdaq Composite closing at new all-time highs. The S&P 500 rose 0.5%, and the Nasdaq advanced 0.5%, with the Dow Jones Industrial Average adding 1%. This surge was primarily driven by the sustained ceasefire between Iran and Israel, encouraging economic data indicating a decrease in jobless claims, and increasing expectations of a Federal Reserve rate cut. Technology, communication services, and industrials sectors were among the top performers.

European markets also participated in the rally, with indices like the Euro Area's EU50 and Germany's DE40 gaining approximately 1.6% on Friday. This performance was supported by progress in trade talks and a general de-escalation of geopolitical tensions. European equities have shown notable outperformance in the first half of 2025.

Asian markets opened higher this Monday morning, reflecting the positive momentum from Wall Street. The MSCI Asia-Pacific index advanced 0.3%, and Japan's Nikkei 225 jumped over 1%, largely due to the record highs in US stocks and ongoing progress in trade negotiations.

GIFT Nifty and Domestic Cues

The GIFT Nifty, an early indicator for the Indian market, is trading slightly higher, hovering around 25,765 points as of early Monday morning, suggesting a flat to marginally positive opening for the Indian bourses.

On Friday, June 27, Indian benchmark indices closed with gains, extending their winning streak for the fourth consecutive session. The Nifty 50 ended 0.35% higher at 25,637.80, while the BSE Sensex climbed 0.36% to 84,058.90. Both indices recorded weekly gains of nearly 2-3%. Foreign Institutional Investors (FIIs) remained net buyers on Friday, injecting Rs 1,504.93 crore into the Indian equity market.

From a technical perspective, the Nifty is seen to be in Wave 5 of an impulse pattern on the weekly chart, indicating continued bullish momentum. Key support levels for the Nifty are identified between 25,500 and 25,300, while immediate resistance is seen at 25,850, with potential upside towards 26,000. Derivative data indicates significant Call writing at the 26,000 level and strong Put support at 25,500, defining a short-term trading range.

Key Stocks in Focus

Several stocks are expected to be in focus today based on recent developments and market sentiment:

• Suzlon Energy, Tanla Platforms, and Torrent Pharma: These companies may see increased activity due to business-related news that emerged over the weekend.
• Jio Financial Service Ltd. and Asian Paints Ltd.: These stocks were notable gainers in the previous trading session, contributing significantly to the Nifty's uptick.
• Hindustan Petroleum Corporation (HPCL): An analysis suggests a positive outlook for the company, citing its integrated ecosystem and efficient waste monetization.
• Bharti Airtel, SRF Ltd., and SBI Life Insurance Company Ltd.: These were among the stocks recommended by analysts for trading on Monday.
• Moving Media Entertainment: Its IPO remains open for subscription until June 30, 2025.

Key Events to Watch Today

Investors will be monitoring a few key events today:

• Chinese PMIs: Manufacturing and non-manufacturing Purchasing Managers' Index (PMI) data from China will be released, providing insights into the health of the Chinese economy.
• India's Current Account Data: The Reserve Bank of India (RBI) is expected to release India's Current Account Data.
• Corporate Earnings: Hindustan Adhesives is scheduled to announce its audited results for the period ended March 31, 2025.

TAGS: Pre-Market, Stock Market, Nifty, Sensex, Market Update

Tags: Pre-Market Stock Market Nifty Sensex Market Update