and Nifty50 opened higher for the third consecutive session on Thursday, tracking gains in Asian markets amid sustained optimism over a potential Israel-Iran ceasefire.At around 12:20 am, the
BSE Sensex rose 553 points, or 0.67%, to 83,309, while the Nifty50 gained 148.20 points, or 0.59%, to trade at 25,392.55.
Among Sensex
stocks, BEL, Eternal,
Bharti Airtel,
Tata Steel, Maruti, and Bajaj Finance opened with gains, while Tech Mahindra, Kotak Mahindra Bank, SBI, TCS, and Reliance Industries declined in early trade.
Among individual stocks, One Mobikwik Systems opened over 6% lower after Net1 Applied Technologies Netherlands BV, a subsidiary of South Africa’s Net1 UEPS Technologies, likely offloaded an 8% stake in the company via a block deal.
Shares of Texmaco Rail and Engineering rose 9% in early trade after the company announced a major international order worth $62.24 million (approximately Rs 535 crore) from CAMALCO SA, a key player in Cameroon.
On the sectoral front,
Nifty Auto, Financial Services, FMCG, Metal, Pharma, Consumer Durables, and Oil Gas were trading higher, while Realty, PSU Bank, and IT were muted.The focus today will be on the expiry of monthly derivative contracts, which could trigger volatility as traders look to close or roll over positions.While easing U.S. Treasury yields may offer some support to equities, investor attention will remain on foreign fund flows. Foreign portfolio investors have offloaded Indian shares worth over Rs 9,500 crore ($1.1 billion) in the past three sessions.
Experts View
"With ceasefire between Israel and Iran, globally markets are in a risk-on mode. But since the reciprocal tariff issue remains to be addressed, sustained rally would be difficult," said Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.
"The market focus in the near-term will be on what transpires around July 9th when the 90-day pause of the reciprocal tariff ends. Which countries will succeed in negotiating bilateral trade deals with US will be keenly watched. Positive news on a potential India-US deal will be a shot in the arm for the market. Disappointment on this front will constrain the rally," Vijayakumar added.
Hardik Matalia, Derivative Analyst at Choice Broking, said, "After a positive opening, Nifty can find support at 25,200 followed by 25,100 and 25,100. On the higher side, 25,300 can be an immediate resistance, followed by 25,400 and 25,500."
Global Markets
Asian stocks stuttered on Thursday, while oil prices stabilized and the euro was perched at a 3-1-2/-year high as investors weighed geopolitical, economic and fiscal uncertainties as they braced for U.S. President Donald Trump's deadline on tariffs.
Markets have been soothed by a ceasefire between Israel and Iran that appeared to be holding, reducing the risks of disruptions to the global oil trade and underpinning sentiment.
MSCI's broadest index of Asia-Pacific shares outside Japan was little changed in early trading, as the rally in Wall Street took a breather overnight. Tokyo's Nikkei rose 0.9% to a four-month high.
FII/DII Tracker
The Foreign institutional investors (FIIs) extended the selling on the third consecutive day on June 25 as they sold equities worth Rs 2,427 crore. On the other hand, Domestic institutional investors (DIIs) extended their buying on the third day, as they bought equities worth Rs 2,372 crore on the same day.
Crude Oil
Oil prices inched higher, extending gains from the previous day as a larger-than-expected draw in U.S. crude stocks signalled firm demand, while investors remained cautious about the Iran-Israel ceasefire and stability in the Middle East.
Brent crude futures rose 15 cents, or 0.2%, to $67.83 a barrel by 0330 GMT. U.S. West Texas Intermediate (WTI) crude gained 20 cents, or 0.3%, to $65.12 a barrel.
Both benchmarks climbed nearly 1% on Wednesday, recovering from early-week losses after data showed resilient U.S. demand.
Rupee vs Dollar
The Indian rupee rose 20 paise to 85.88 against the US dollar in early trade. The dollar index, which tracks the movement of the greenback against a basket of six major world currencies, declined 0.25% to 97.43 level.
(With inputs from agencies)
