Gift Nifty Points to Cautiously Bullish Start for India Markets on Monday

Mumbai, June 25: Domestic equity markets may open with a mildly bullish bias on Monday June 28, as Gift Nifty traded above the 24,100-level for much of Thursday’s session. Indian benchmark indices ended Thursday with muted moves as Nifty 50 finished little changed at 24,054.95, aided by soft crude oil prices and easing geopolitical tension in West Asia.  

On June 30, 20 contracts for Nifty ending June 30, 2026 traded at 24,115, higher by 20.5 points or 0.09%. The contract touched a high of 24,288 and a low of 24,072.5 as of 3:47 PM on Thursday. The July contract for Nifty ending July 28, 2026 traded at 24,190.50, higher by 56.50 points or 0.23%. On Thursday, June 25 the near-month contract traded with a positive bias for much of Thursday’s session. 

Iran spat heats up within Trump administration itself 

A top Republican senator lambasted President Donald Trump on Wednesday for the Iran deal that he agreed to with the Israelis this week. Trump and Republican Senator Bill Cassidy were “yelling at each other” during a lunch in the Capitol on Wednesday when Cassidy pushed back on Trump’s framework deal with Iran. The two were reportedly still yelling at each other after lunch ended. The spat came after Trump’s administration requested Congress to approve another $87.6 billion in supplemental funds. Of this amount, $67.15 billion will be used to finance military operations in the Iran war. This includes $21 billion to buy ammunition and increase U.S. industrial capacity. 

The Senate voted to invoke war powers to pressure Trump to stand down from military action against Iran. Though the measure did not garner enough votes to overturn Trump’s veto, it passed with bipartisan support as Republican Senator Rand Paul voted along with Congressional Democrats. 

Crude Oil

Crude oil prices fell further on Thursday as some of the tankers that were earlier stuck in the Strait of Hormuz began sailing after a de-facto deal between the U.S. and Israel to end the Iran war. August Brent crude futures slipped 0.54% to $73.34 a barrel while U.S. West Texas Intermediate declined 0.38% to $70.07 a barrel. 

Provided that the macro and geopolitical conditions remain broadly as they stand now, the above projection for a positive Monday open will likely hold true. But if something dramatic happens overnight that changes the story dramatically, like a sudden escalation in West Asia, a dramatic turnaround in crude prices, a negative global market shock or any significant domestic policy development, then stocks may swing hard North or South depending on the news and global and domestic investor sentiment and reaction. 

Source

•  https://www.nseix.com/