Gift Nifty, June 8, 2026: Positive Start for Indian Markets Signalled on Monday

Mumbai, June 8: Indian capital markets are set to open in the green on Monday, with Gift Nifty futures pointing to a positive start after a string of encouraging developments — the RBI’s landmark measures to attract foreign capital, and cautious optimism on the Iran conflict front following US President Donald Trump’s assurance that peace talks remain on track. 

Gift Nifty 

Gift Nifty Futures for the June 30, 2026, expiry were trading at 23,129.00, up 31.50 points or 0.14%, as of 7:34 am on Monday, June 8, 2026, signalling a positive opening for domestic benchmarks. 

Asian Markets on Monday Morning 

Asian markets were trading broadly lower on Monday morning, dragged by sharp falls in Japan’s Nikkei 225, which tumbled 4.08% to 63,869.50, and Indonesia’s JSX Composite, which plunged 4.20% to 5,594.77, reflecting the spillover from Friday’s heavy losses on Wall Street and renewed geopolitical anxiety following the Israel-Iran exchange over the weekend. Hong Kong’s Hang Seng fell 1.57% to 24,570.61, while the Shanghai Composite slipped 1.05% to 3,985.64, and Australia’s ASX All Ordinaries declined 0.68% to 8,855.90. India’s BSE Sensex was itself indicated lower in early Asian trade, with the index quoted at 74,243.34, down 0.16%, before domestic cues from Gift Nifty offered a slightly more constructive signal ahead of the opening bell. 

US Markets on Friday 

U.S. equity markets ended sharply lower on Friday, with technology stocks bearing the brunt of the selloff as the Nasdaq Composite plunged 4.18% to close at 25,709.43 and the S&P 500 fell 2.64% to 7,383.74. The Dow Jones Industrial Average declined 1.35% to 50,866.78, while the NYSE Composite shed 1.34% to 23,256.50 and the S&P/TSX Composite lost 2.28% to 34,413.45. The broad-based decline was driven by a combination of geopolitical jitters following fresh hostilities between Israel and Iran, and investor concerns over the trajectory of oil prices and global growth. 

Oil Prices 

Oil prices surged more than $2 a barrel on Monday after Israel launched fresh strikes on Lebanon despite a truce between the two countries, reigniting fears over the wider regional conflict and putting a potential reopening of the Strait of Hormuz further out of reach. Brent crude futures rose $2.33 or 2.5% to $95.42 a barrel, while U.S. crude futures climbed $2.10 or 2.32% to $92.64 a barrel, erasing most of Friday’s losses which had come on hopes of a U.S.-Iran de-escalation. Iran has made a ceasefire with Lebanon a precondition for any peace deal with Washington, and the latest exchange of strikes has added a fresh layer of uncertainty to negotiations. 

RBI Measures to Attract Foreign Capital 

The RBI on Friday expanded the basket of specified government securities available to overseas investors and extended equity investment access to all individual Persons Resident Outside India, broadening the scope of foreign participation in Indian markets beyond NRIs and OCIs. The government moved in tandem, issuing an Ordinance to scrap long-term capital gains tax on FII investments in government securities, a measure that economists said would meaningfully reduce the cost of sovereign borrowing. Together, these steps are expected to support the rupee — which has depreciated more than 6% this year amid rising crude prices and equity outflows — and help the government raise debt at more competitive rates. 

Iran War Update 

Israel launched fresh strikes on the Beirut area on Sunday, the first since the U.S. announced a truce plan for Lebanon, prompting Iran to fire a salvo of missiles at Israeli targets in retaliation, putting renewed pressure on the fragile U.S.-Iran peace talks. Trump, however, was firm that the strikes would not derail negotiations, saying he “calls all the shots” and urging Netanyahu to hold back from further retaliation, with a U.S. official noting that Trump had “bought a little bit of time.” The latest flare-up pushed Brent crude back above $95 a barrel and rattled Asian markets, though Trump’s personal involvement in managing the conflict remained the key factor keeping investor hopes of a broader ceasefire deal alive. 

Indian Markets: Friday Closing 

Indian benchmark indices ended marginally lower on Friday in a volatile session as investors weighed the RBI’s monetary policy decision, with the BSE Sensex falling 116.67 points or 0.16% to close at 74,243.34 and the NSE Nifty 50 declining 49.85 points or 0.21% to settle at 23,366.70. Market breadth was broadly balanced, with 1,966 stocks advancing against 2,049 declining and 197 unchanged, as gains in banking stocks offset weakness in information technology and metal counters. The RBI’s Monetary Policy Committee unanimously held the repo rate at 5.25% with a neutral stance, raised its inflation forecast, and flagged risks to growth from global uncertainty and a potentially weak monsoon. 

Source: nseindia.com